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SALT vs 'Policy Retrieval Software'
SALT vs 'Policy Retrieval Software'

This article depicts contrasts between SALT Insure and PRS, aiding your informed choice for a data collection solution.

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In the evolving landscape of insurance technology, agencies are faced with the critical decision of selecting the most effective data collection solution.

This article delves into a comparison between two prominent options: SALT, a consumer-based data collection platform, and Policy Retrieval Software (PRS), which focuses on extracting policy details directly from insurers.

Understanding the Approaches

Policy Retrieval Software (PRS) primarily extracts data from insurance carriers, offering insights into policy details and historical data. Its strength lies in providing the agent with current coverages for comparison and current pricing, which is invaluable in the sales process. However, PRS can be limited by its reliance on policy data, often requiring additional consumer engagement to fill in gaps or verify specific details.

On the other hand, SALT adopts a consumer-centric approach, directly collecting data from policy applicants. This method ensures that the information is current and verified by the consumer, reducing inaccuracies and mitigating the agent’s E&O exposure. SALT leverages Big Data capabilities through Data-as-a-Service (DaaS) partnerships, enhancing its ability to provide a comprehensive view of the applicant's information.

Evidence-Based Comparison

βœ… Application Completeness

  • Policy Retrieval Software (PRS) rarely provides a complete underwriting submission, as it's limited to existing data within insurers' records. This can necessitate further outreach to consumers, increasing the time and effort required to complete applications. Examples of these data gaps include information pertaining to the pool, roof, trampoline, dogs, and various other crucial underwriting elements.

  • SALT is designed to integrate seamlessly with the application process as we aim to minimize the need for additional information gathering altogether. By collecting detailed data directly from consumers, SALT can offer a complete application from the outset.

πŸ“ˆ Market Penetration and Use Cases

  • Home Purchases - With an estimated 5.5 million homes transacted in 2024, SALT's approach is particularly advantageous. PRS struggles in new home purchases, where the property still needs to be listed on an existing policy, making SALT's direct data collection invaluable for incorporating mortgage or realtor referrals.

  • Auto Purchases - The auto market, with 15.7 million new and 36 million used vehicles sold in 2024, presents a similar situation. SALT's ability to gather data on these vehicles directly contrasts PRS, which may not provide value in capturing information on newly acquired autos.

πŸ“„ Declaration Page Retrieval

  • Policy Retrieval Software (PRS) is fundamentally designed to facilitate direct access to policy documents, including declaration pages, from insurers. This streamlined approach is highly efficient but relies on the consumer's ability to provide and willingness to share login information to their insurer's portal.

  • SALT, in contrast, offers a more flexible document request feature. This system enables agents to create customized requests for any document, not just declaration pages. While this method may not be as instantaneous as PRS's login-only retrieval, it compensates by offering broader applicability and versatility. Agents can tailor their requests to the specific needs of the application process, ensuring they gather all necessary documentation, regardless of the document type or source.

Key Considerations when Choosing SALT vs PRS

πŸ”‘ Consumer Login Information

A pivotal aspect of PRS is its dependency on consumers having and also being willing to share their carrier login information. This requirement poses challenges such as:

  • Access and Awareness - Many consumers may not have online accounts with their insurers or be aware of their login details, which can limit the applicability of PRS. Our findings show that over 50% of the time, you will not receive policy information and then you are left with outdated solutions to collect the data. SALT allows you to collect the appropriate data 100% of the time.

  • Privacy Concerns - Privacy considerations may deter consumers from sharing sensitive login information, reducing the effectiveness and reach of PRS.

⏳ Time-Saving Comparisons

While PRS can offer rapid results when consumers have and are willing to share login details, it faces initial hurdles that can offset its "time-saving" advantages.

SALT, conversely, provides a form of time efficiency that's less dependent on such preconditions.

  • Deferred Complex Education - SALT translates complex insurance matters into straightforward form questions, allowing consumers to complete them at their convenience, thus enhancing the customer experience and data accuracy.

  • Efficiency without Preconditions - SALT's effectiveness is not contingent on consumer preparedness with login information, making it a more universally applicable solution.

  • Optimizing Time and Engagement - Studies have shown that while you do not want the process to be burdensome for the insured, there is a certain amount of time investment and decision-making that causes the prospective insured to be vested and desiring for the sale to occur.


Our analysis reveals that both SALT and PRS have strengths and limitations. SALT's consumer-verified data collection method offers a comprehensive and efficient solution for agencies focused on accuracy and completeness. Meanwhile, PRS provides a streamlined approach to accessing existing policy details directly from insurers, which is valuable for coverage analysis and pricing. Agencies must weigh the evidence and consider their unique needs, integration capabilities, and future trends to make the most informed choice between these technologies.

By addressing the critical aspects of consumer behavior and operational realities, this article ensures that readers understand each system's potential impact comprehensively, facilitating a more informed decision-making process in the dynamic field of insurance data collection.

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