The Digital and Accelerated series has shown various sets of company and industry leaders to listen to how independent insurance agents should be going about advanced transformation. They tackled many different techniques and also different opportunities. They also encouraged independent insurance agents to accept modern-day technology at every possible outcome.
Agents for the Future discussed things with the Liberty Mutual and Safeco Agency Capabilities and Programs to learn how to improve the new tools and strategies independent insurance agents may be adapting. This said team of marketing professionals often works with independent agents almost every day to guide them through improvement projects.
The ACP team realizes that many independent insurance agents are making huge steps to meet the expectations of their customers and also gain advantages. However, every agent is at a different phase in their digital journey. How independent insurance agents move will greatly depend on the aim of their businesses.
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Adapting a much more modern agency management system to bring technologies together is a good step.
While controlling data from your agency management system to improve the customer experience is a much better step. A lot of businesses depend on an agency management system. This makes sense since an AMS offers an efficient way to the digital era with many important tech tools already placed. However, many still struggle with how to use this kind of advanced technology.
We have lots of AMS solutions. However, the very one thing that you should choose depends on your business size, business mix, and also technology needs. You also need to consider mobile, cloud, and automation. These should also be checked when you’re shopping for an AMS for the very first time or moving from an old system.
You have to be mobile-friendly too and cloud-based. This will ensure that you’re investing in a solution that will make your company advance into the 21st century. This will also allow your employees to work faster from whatever kind of device they use. This is also convenient since you can use this as a work-from-home set-up.
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The true power of AMS holds starts to open up when it now makes your work more efficient and powers up your marketing arm. Automation-friendly systems can handle data effectively and can eliminate encoding data and edits. They have self-service capabilities that can help your customers extract important data such as policy documents, ID cards, and certificates of insurance on their own. You’re not relying on your staff anymore.
They now have customer relationship management features or they can easily connect to CRM tools to start marketing automation. It’s now easier to automate customer-friendly communications like “happy birthday” emails and policy renewal reminders. These can all transpire while they help you also work out the communication channels chosen by each of your customers. More importantly, your marketers can now launch marketing campaigns such as cross-sell, upsell and get in touch with lost customers to drive new business growth.
You can now have the right AMS and implementation and its features. You don’t have to balance customer experience anymore.
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What’s a good step is using text messaging to connect with your clients. While supporting texting services that all your employees can access.
Text messaging is among the best tools you could do for your consumers. This gives them the ability to connect with independent agents that are convenient for them. Texting is much better since emails get lost in disorganized inboxes. Furthermore, phone calls can also get unanswered. Meanwhile, snail mails also take days to arrive. Texting is very fast and effective. The open rate for email is usually only in the 20-30% range. While, almost all text messages, get opened and read. We should make texting a priority if you’re looking for immediate responses.
However, this can also be difficult for businesses since you can only do this with one phone. The conversation can only be done by one staff and locks it only into one device.
One effective solution is as convenient as your AMS. Most AMS have built-in messenger solutions that can place text messaging into the hands of the whole staff. This means that every different staff member can pick up conversations at different times if needed. Another good news is that records of those conversations are all stored in one place which then lessens errors and omissions exposure.
We have also third-party providers that can offer you standalone solutions if you don’t like AMS-provided texting solutions. A lot of these vendors integrate directly into your AMS.
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Using an eSignature solution is a good step. While supporting cloud-based solutions to eventually become paperless is a much better step.
Having an eSignature solution is also an important step in moving to a digital office setup. However, this can be also difficult for you since some clients see the paper signing as an ability to build relationships. This can also give you an opportunity to see a long-lost customer for the first time in months or even years.
You have to rethink this mindset and independent agents should place themselves in the shoes of their clients. Most clients don’t usually go out of their way especially during a time that there is no convenient day for them to visit your office and sign documents.
Having an eSignature solution is one of the best solutions you can do for your clients. You can now sign documents via eSignature since before, you only use pen and paper. Once you do this, the move to a completely paperless office becomes much more efficient and easier.
We also have to remember that this move is also significant from a customer experience perspective while the operational advantages of moving to a cloud-based storage system will only become more obvious as time goes by. You’ll give your clients time and freedom to handle their insurance needs at their own pace. You’ll be left behind if you’re still not offering eSignature and becoming a paperless company.
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Using online services to serve your customers outside of your usual office hours is a good step. While supporting carrier service to keep services open after office hours is a much better step.
Many businesses have trouble with the need to balance extending office hours to remain available during times that are convenient for their customers to come and also wish to maintain a more regular 9 am to 5 pm schedule.
If you go digital, this gives you many ways to keep your doors open when your physical office is already closed. You can be on live chat on your website and you can also answer your clients without being physically present in the office. Using online self-service tools can have your clients take action whenever they’re available.
Consider adapting your carriers’ service centers too to also step up further and maintain a high-quality service. Most agencies offer extended hours and only a few are open 24/7 for a whole year. If you have a service center, it can give you peace of mind knowing that your clients are well taken care of while your employees are resting.
Making a more friendly-user website is a good step. While supporting paid search to bring new interested clients onto your website is a much better step.
In so many ways than one, your website is the face of your company. It can give your prospective clients first impressions of your business, staff members, and your involvement too in your community.
Your website can give your prospective clients first impressions of your agency, agency staff members, and involvement in the community. Having a customer portal for your existing clients can help save your staff time.
If you have something modern and mobile-friendly website, this is one of the best ways to secure that competitive advantage. Another advantage is the adaption of paid search.
Paid search can also be hugely effective for having qualified leads in your business. However, this requires you to have an investment of time and resources. ROI can also be useful.
According to the most digitally savvy agents we discussed, they were able to find a new customer within the first couple of weeks when they acquired paid search. It then took them about 3-6 months to adapt to their new tools and concepts. Another year or two was also then needed to hone strategy, develop strong ad and landing page copy and optimize the search terms they were using. These agents keep on improving and evolving their strategy as their business is also evolving.
It’s important that we remember that paid search is an investment. You will never turn back once you see that your hard work starts to pay off.
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