In 2016, the estimated total number of independent Agencies in the United States stood at 38,000, according to Independent Insurance Agents & Brokers of America Inc. Given the huge number, it comes as no surprise that the competition is extensive to run an agency profitably. Today, we will examine 7 steps that can guide an agent towards success.
1. Be available:
We all know the success story of the half bitten Apple. At InsuredMine we are not kidding when we draw the analogy with what happened at Insuretech Connect 2018 (ITC2018). Despite a complete experience with two days of exposure, meetings, and attending sessions, we know we only took a bite of the apple; we know there is so much more to explore and experience, but most importantly, to learn and grow.
Insurance customer expectation and engagement was way different than it is today and is changing at a rapid pace. Companies like Google, Amazon eBay, and Netflix have leveraged technology and flipped business models completely upside down. Since technology is fostering “I want it when I want it and how I want it” motto, we can’t expect the customers to demand any less when it comes to insurance.
Today 4 out of 5 customers are way different than Jack’s customers years ago, because though they trust Jack just as equally today, they still compare and verify
It feels like just yesterday that we were preparing for our first ever Insurtech Connect event. Juggling what to do, whom to meet, taking notes, learning new things, and overall soaking in as much as we could. But this year certainly feels different not only because we are one of the official sponsors of the event along with 200+ others, but because we have also ‘been there done that’. We
Engagement is a tricky term. It is halfway to a promise, but a long way from commitment. Agent-customer relationships also work in a similar fashion. Customer engagement is the depth of the relationship a customer has with a brand. Although engagement is a good sign that leads to a prospective customer, how we navigate from the first interaction until the customer commits plays a key role. Some strategies on how we can achieve customer engagement are discussed here and we are confident these strategies will work for all agents.
Speed and convenience…a couple of decades ago, these terms would remind of you an automobile, most likely a car. But not anymore. All these terms are now so embedded into our day-to-day life with the ‘internet of things’; without which, the world might seem to freeze. We are increasingly relying on ‘internetworking’ devices and the world-wide-web for everything from shopping and communicating, to banking and bill paying. It is, however, important to know that the benefits of faster and more convenient cyber services also brings with it the dangers of cyber-related crimes. It is
Insurance can be a confusing term for non-finance wizards and finance is a puzzle in itself. The modern world runs on making money. After all, who does not want an income source? We all want to flaunt our earnings, spend them by having a good lifestyle or by buying that fancy car which was just advertised on the television. However, many of us don’t know what to do with our hard earned money. Spending money by buying life luxuries is one story, but we cannot forget that we all want to have a secure future, and that is why we insure.