AMS360 to TAM - what transfers?

[DebAmstutz]

My current agency is making an offer on an agency with AMS360.  If the purchase is made, how much of the AMS360 will convert to TAM?  Do we have to bring it all?  I mean, if there is really old stuff that is not necessary, I wouldn't want to pay to bring it over.  Also, how much hands-on work is needed?  Is it possible to convert only (what would be on TAM as) client detail and non-downloaded policy info, then get initial downloads of all current AMS360 policies?

I have no idea if our agency will actually purchase this other one, but the owner has some questions regarding getting them onto TAM, so that's why I'm asking.

[Jim Jensen]

I doubt you can transfer any policy data aside from what appears on a billing screen. You can do an initial download of any policies that the carriers send - you'll have to consult the IVANs communications info sheets for that. AMS has no control over what can be downloaded.

[Bob]

I've worked on 24 acquisitions over the years.   Think I've almost mastered this and have had just about everything imaginable thrown at me.

Jim is correct.  You want policy headers or billing screens.   Initial loads from carriers will then populate and provide data.   Next is converting activity/actions and attachments.  Accounting especially AMS360 won't get transaction details.  Forget accounting all together.  Never bring over balances.  Forget the past and work forward.  Start billing and creating new receivables/payables.  Follow the money.   Purchase date/effective date you start billing on TAM.  They collect and pay off open items prior to purchase and written in contract.  You start fresh and as clients pay you remit keeps books clean.  Opening balances and converting too much data is what makes messes of data.  Convert only useful/meaningful data not garbage.  Only thing I would add if you were to change management systems, you would want to open fresh new bank accounts 0.00 balance.  Keep it clean.  If bringing into your system they take care of past you work forward. 

[Jim Jensen]

Bob gives great advice from his experience! On attachments, you need to look at what they have on their system and decide whether you want them or not. I think the most valuable items are reasonably recent photos of properties, appraisals (esp. jewelry), signed applications and letters to clients (unless they are all simply, here's your policy, call if you have Qs). Knowing where you are generally working, property photos may be more valuable for you than other agents. I suspect the aerial photo imagery and streetview photos are not as ubiquitous or as frequent in your area as metro areas.

[Billy Welsh]

@Bob,


I should have hired you as a consultant when we did Tam to Epic.  And you could probably bring a lot of (missing) wisdom to the conversion project I am currently involved in (but not in charge of).

[DebAmstutz]

Great advice, everyone.  I really don't want much accounting info/balances because a fresh start is a good thing.  The photos and appraisals are important.  I'm guessing that an AMS360 license or copy of everything they have could be kept  for a year on one computer just in case someone needs to find something or compare something along the line when a renewal comes in.

Yes, Bob is the champion when it comes to acquisitions!


Thank you!

[Alice Mooney]

Also keep in mind what data your state department of insurance requires you to keep. In AZ, we need to keep 7 years from the last date something was entered. An example would be - when we converted to AMS360 in 2013, we needed to keep a user license for TAM to be able to access for auditing purposes, and to access attachments and other info that didn't convert over for claims and whatnot.
And now that we are converting to Epic, we'll need to keep a few user licenses for 7 years for the same reasons mentioned above.

[Jeff Zylstra]

I would strongly suggest that you buy a copy or two of FinePrint's PDF Factory software for $50 each.  It's a PDF printer program that opens a PDF file where you can print to it.  The beauty of the program is that you can keep the PDF file open and continue to print multiple jobs to it until you save the file.  Then you can attach those files in TAM.


I wouldn't do all of the accounts, but there are several accounts in that book of business - both commercial and personal lines - where it would be quite helpful to print out detailed histories of what happened on the account and attach them to the TAM customer files.  Things like AMS' equivalent to Activity files, claims, correspondence, financial information, things that make up a "core file" - original applications, replacement cost estimators, appraisals, photos, etc....    You may or may not have access to the AMS system for long, and more important is the fact that few employees will know how to quickly and efficiently access anything in that system.  I realize that this will take time and hassle, but it will ultimately REDUCE the stress on your staff.  jmo.

[DebAmstutz]

More good advice - thanks!

[DebAmstutz]

Well, I don't need to be concerned about AMS360 - the purchase did not happen.  Can't say I'm unhappy and the owner of this agency isn't unhappy either.  I don't think he knew quite what he would be getting into.  The other agency has three far-flung branches and trying to keep everything in line would have been more than this owner really wanted to take on.

[Alice Mooney]

Would it be wrong to say that I'm very happy for you?

[DebAmstutz]

No, Alice...it's just fine!