Are you effectively growing your insurance book of business or do you feel like you’re living in an episode of “Lost in Space?“
No matter which version you’ve seen—the 1960s classic, the reruns, or the recent Netflix remake—you are probably familiar with the storyline.
The sci-fi episodes find John Robinson and his family braving the unknown cosmos and strange planets after Dr. Zachary Smith, a wonky spy, throws their ship off course.
It is no surprise that the cheesy adventures of “Space Family Robinson” have many subliminal parallels to real life. In fact, many insurance agents and brokers encounter similar experiences that the Robinson’s did in their businesses today.
Lost in Space Lessons
See if you can relate:
“Danger, Will Robinson!” While Dr. Smith’s behavior thickens the Lost in Space plots, his character hides behind a mask of lies and manipulation.
In today’s world of fake news and fake gurus, you have to stay alert while working hard to nurture relationships to earn the trust of prospective clients.
Creating a Colony. The series finds the Jupiter 2 (The Robinson’s ship) on a continual quest to establish a colony on a new planet, but a crash of the mothership derails the game plan.
Like the quest to create a colony, you may find yourself constantly seeking new customers and prospects, too.
A Sabotaged Mission. In the show, Dr. Smith is well-known for sabotaging the mission and getting trapped on board during take-off.
Do you sometimes feel like technology has sabotaged your ability to grow your business like you used to do?
Let’s face it, instant access to online quotes makes closing insurance sales that much harder for you.
“Does Not Compute.” The Robot’s famous line is easy to apply to the insurance broker and agent world, especially when you have to juggle so many different tools to search for quotes.
Every carrier system seems to work differently, which creates frustration while wasting your time.
All is Not Lost.
End your feeling of being “Lost in Space” by using Syndicated’s FREE tools to find the products you need. We specialize in tough-risks, pay-as-you-go terms, and higher-than-industry-average commissions.
Our platform gives you access to multiple programs from A-rated carriers with more 150 markets and 40+ combined product offerings you cannot access anywhere else.
You can even find options that entertain experience mods of all types.
Let us help you stop your never-ending adventure today. Sign Up. Sign In. Get Paid.
Digital transformation (DX) is impacting business everywhere around the globe. Unfortunately, many insurance agents and brokers who stick to old methodologies are caught in the crosshairs of this transition.
Those who decide to use technology in their business can win. Those who do not are certain to lose.
With decades of clunky workflows, reams of paper, and cumbersome software that continually needs updating, the insurance industry has a tremendous opportunity to connect with customers by leveraging digital tools in their business.
Those insurers who embrace DX are on a path to enhanced profitability, lower costs and stronger customer loyalty, according to management consulting firm McKinsey & Company.
Insurance agents and brokers can remain competitive by tapping into digital resources and tools in a number of innovative ways.
Make Informed Business Decisions
It is clear that digital strategies are being launched in many companies. Yet, some businesses are trying to create digital transformation without using existing data and analytics to make informed decisions. Others are becoming obsolete as they watch from the sidelines and do nothing at all.
Today’s DX-focused world uses data as the foundation that drives everything. Digital transformation is not even possible without tapping into existing data.
For example, your paper and computer files contain valuable insights and information about your customers wants, needs, and preferences.
Are you using this information to service your customers? Or do you simply rely on conversations to help uncover information about every situation?
Are you still:
- Using paper documents for your intake forms?
- Manually filling ACORDS for processing? and
- Investing hours of time calling for quotes?
Automated data can allow help you make smarter decisions faster, especially in today’s highly competitive insurance industry.
Keep Your Business Competitive
There is no doubt that technology can help your business grow.
The question you should be asking is, “what resources are available to help me achieve results and meet my customers’ needs?”
The good news is there is a free, no-strings-attached solution guaranteed to produce results that are easy-to-use and can earn you higher commissions.
However, simply knowing about these tools and solutions won’t do anything for you if you don’t use them.
The key to success is taking action to tap into the resources and make them part of your daily business operations.
Doesn’t getting instant indications sound a lot better than leaving messages for people that never return your calls?
Think of a new reality where you can respond to clients quickly with quotes that meet their needs.
Don’t be left in the dust by other insurers. Use technology in your business to save time while increasing your bottom line.
Experience The Results For Yourself.
Test out Syndicated’s Broker Gateway.
Not comfortable with technology? No problem. Email or call us (877-333-8195) for a quick and easy conversation.
Syndicated team members can quickly walk you through how to upload ACORDS and access more than 150+ markets.
Here’s how to access Syndicated’s Broker Gateway:
- Sign Up here and click on the link in your confirmation email.
- Get Started following these simple directions for the option you need.
The choice is yours. Remain competitive, or stay the course and get left behind. Independent insurance agencies that use technology will replace those agencies that don’t.
Let Syndicated help you embrace digital transformation and grow your business.
The competition independent agents face has exponentially grown with today’s technology age. Today your customers and prospects can shop for insurance policies one of two ways: online or by working with a live person.
You have to strategically do things to remain relevant and get noticed by your ideal customers. If you don’t highlight why your services are better, you run the risk of losing them to online vendors.
One of the best ways to keep customers coming to you for their insurance needs is to educate them continually about the value you bring. Find creative ways to constantly share WHY doing business with you is better than getting coverage over the Internet.
Five Advantages Agents Offer
Here’s a starter list of the many advantages businesses and individuals receive by working with an experienced insurance agents like you.
Trustworthy Relationship Building: While the advent of artificial intelligence makes computers amazingly fast and smart, they offer empathy, or evoke emotions like humans. Interacting with a living person who cares for you allows for sincere relationship building. In turn, trust and loyalty are built to create repeat customers for years to come.
Genuine Cost Savings: There is a misperception that online insurance is cheaper. In reality, the unique situation of a business or individual, as well as the type of coverage they choose, can drive the insurance costs. Working with live agents allow individuals to compare insurance policies that make the most sense to your situation while ensuring you’re not overpaying. In fact, multiple products can be bundled together to create a cost savings not found online.
Seasoned Expertise: Yes, artificial intelligence empowers machine learning. But insurance needs extend beyond mechanical calculations. You’ve invested your time training and learning the markets. With your know-how, you have a knack for anticipating your clients’ needs and making recommendations a computer could never do. As a licensed pro with 10-30 years of experience, you can offer actual advice that fits the situation.
Personable Customer Service: You provide a familiar voice and a trusted answer that is accessible on a dime. Urgent questions, distressing claims, policy changes and urgent inquiries can be addressed immediately. This is preferred over the alternative of long hold times, automated phone queues, or sifting through a computerized list of frequently asked questions.
Intuitive Analysis: Independent agents or brokers are wired to watch over customers protectively. You conduct renewal reviews that machines cannot offer. You know when there are discounts available or other options to save your customers’ money. Online systems don’t look out for your customer’s best interest while being attentive is something you take pride in doing for them.
Extend Your Value By Using Free Resources
Help your customers see the many benefits that come from doing business with you instead of faceless Internet options. Eliminate any questions or concerns by shining the light on the value you bring that simply cannot be duplicated by machines.
Extend your value by tapping into Syndicated’s free quick response system of tools that makes it easy for you to find quick quotes for hard-to-place clients and situations. Already signed up? Access our Quick Start Guide or call us so we can personally walk you through the system.
You’ve set up shop as an independent insurance agent. Your small-to-medium sized business offers multiple property and casualty lines. You strive to grow your business and get quotes quickly so you can close sales. It is a rinse and repeat cycle that you find yourself in daily.
You know there are many ways you can use marketing plans and tactics to grow your business. Of course, those things take time to map out and execute. And just like any critical piece of business infrastructure, marketing efforts tend to move the needle slowly over time. But you know that if you’re persistent, you’ll begin to see your marketing efforts pay off.
In addition to marketing efforts, your core suite of product offerings is what you deliver best. But when you have a client who needs a new policy or a prospect who is shopping for a quote, can you respond fast enough?
With other insurance agents out there competing with you, it really is a rapid response game. You need to “strike while the iron as hot,” as they say.
Using the standard methods to get quotes, you know it also takes time to work your way through the proverbial “checklist” so you can access various markets, find the right products, and get indications.
You’ve noticed that many of your colleagues and competitors have gone over to the “dark side” as they use technology tools to automate their processes. But you’re a firm believer in “If it ain’t broke, don’t fix it.” So, you’re determined to keep things working the way they always have worked.
Reasons NOT to Use Technology In Your Business
But is your approach achieving the rapid results you need? Let’s look at the top reasons NOT to use technology in your business.
You shouldn’t use technology and automation tools in your independent insurance agency if you…
- Enjoy investing hours of time calling for quotes.
- Love not having your calls returned.
- Like learning how to navigate multiple carrier systems.
- Revel in frustrating learning curves.
- Adore the inconsistency between disconnected technology systems.
- Delight in shuffling through stacks of paper that you can touch and feel.
- Fear losing control of your data, and potentially exposing it to others.
- Treasure spending hours filling out all those pieces of paper.
- Appreciate digging around to find what you’re looking for at a moment’s notices.
- Memorize client deadlines, upcoming expiration notices easily.
- Love waiting to access information from a team member who is out of the office or on vacation.
- Relish hauling around a briefcase and boxes of paperwork.
- Fancy waiting for people in your community to knock on your door.
- Hanker to forge new relationships with unknown entities.
- Like being in the dark about available markets.
- Enjoy manually duplicated multiple forms.
- Fear being replaced by technology.
The list of reasons not to use technology in your independent insurance agency is deep and wide. (Comment below to let us know what we left out…)
If you keep doing things the same old way—without using other tools and resources—you’re guaranteed to achieve the same results as you’ve always gotten.
Consider Using One Easy Solution
But if for just a moment, you’re curious about how technology can make your business grow— there is a free solution guaranteed to produce results. In fact, this free tool can increase your market access exponentially, get you instant indications, save you time and money, AND increase your revenues and commissions.
Don’t believe it? Test out Syndicated’s Broker Gateway and experience the results for yourself.
Syndicated’s Broker Gateway is easy to use. Here’s what to do:
- Sign Up here and click on the link in your confirmation email.
- Get Started following these simple directions for the option you need.
Unsure how to use technology-based solutions? Want someone to guide you through the process? No problem. Email or call us (877-333-8195) for a quick and easy conversation.
If you’re good with lack-luster results and the inability to rapidly respond to client needs like your competitors — do nothing at all. The way you grow your business — or not — is up to you.
The bottom line is this: Independent insurance agencies that use technology will replace those agencies that don’t.
Let Syndicated help you propel things forward and grow your business.
As an independent insurance agent, you know competition is fierce. The good news is you’re not alone as most agents are facing the same problems. The key to your success is finding ways to set yourself apart.
Problems Faced By Insurance Agents
Let’s take a look at the issues. Syndicated Services CEO David Bell recently shared an overview of the problems today’s insurance agents are facing. “Recently it has been tough to be an independent insurance agent. The statistics show that the number of licensed insurance agents has been dimensioning. It has recently leveled off, but that is because you have non-independent agents getting licensed like banks, and even carriers marketing directly.”
“The tough thing is that commissions continue to go down and agents are facing competition from areas they’ve never faced it before. Technology now makes it possible to sell insurance on the Internet through various financial institutions. You’ve also got alternatives, like payroll processors that offer insurance with their payroll services. PEOs are offering co-employment staffing companies. It is really no wonder that fewer and fewer young people are interested in getting into retail insurance. We’re also seeing the aging of insurance agents.”
Progressive Pivots For Success
“The only way we’ll see any change is to start embracing and promoting technology. We need to find ways to compete with all these different challenges that are taking away our commissions and making it more difficult to make a living.”
Are you embracing and promoting technology? Or are you still dependent on outdated ways to do sell insurance?
Since you find yourself constantly looking for ways to stand out from the rest, it only makes sense to look at several ways you can set quickly set your insurance agency apart.
Easy Steps You Can Do Now
Create a Website: Showcase who you are, what you offer, and how you bring value to customers. A digital footprint is especially important since 90 percent of businesses start their purchase with research. And 88 percent of consumers research online before in-store buying. Businesses and consumers alike are looking for your digital footprint. (Our marketing consultant, Joy Capps, can help you quickly build your website and digital footprint.)
Use Social Media: Talk to your audience by posting useful content that they are interested in. Post regularly and often. If someone goes to your Facebook, Twitter or LinkedIn profile only to find you haven’t posted in over a year or more, they can quickly be turned off. Show you are on top of trends by consistently providing updates and information.
Promote Your Value: Since most insurance producers sell on price, you need to find opportunities to showcase the ways you’re different. Help your clients and prospects focus on the many ways you help them. In every touch point and interaction, shine the spotlight on the hands-on approaches you use to meet their needs. Remind customers about the value you bring.
Offer Value-Added Services: Be more than a broker or agent by offering more benefits to your clients than your competitors. Did you know you can offer things like HR Consulting Services? You can give piece of mind by meeting the staffing, payroll, and insurance needs of your small employer clients. Consider adding General Liability coverage to your offerings. There are many products and solutions you can offer.
Tap Into Technology: Speedy response is the name of the game. Set yourself apart by quickly responding to client requests for workers’ comp quote options, and much more. Did you know that one system can give you access to more than 150 markets and 40+ unique offerings for free? Earn higher commissions when you tap into the free Syndicated Appulate market access. Upload one ACORD to receive instant indications. Get started now.
When is now a good time to start? Take action on these five easy steps and set yourself apart today.
Are you using the power of technology to enhance your insurance business? Or are you still using manual, non-automated processes to get quotes and service your customers?
Michael Sillat of WKFC Underwriting Managers said, “One cannot lose sight of the fact that despite that, agents do need to recognize and respond to the ever-evolving insurance marketplace. That evolution, today, starts and ends with the adaptation of technology. What has already happened in the personal lines sector will no doubt flow into commercial lines and certainly, those agents that prepare, create and adapt to technology will also be the ones that prevail and prosper.”
Everywhere you look, technology is a disruptive force making waves to transform businesses. The insurance industry is in the midst of this transformation as tools are creating new ways to do business. The impact is real. And if you want to ensure your insurance agency or brokerage remains competitive, you need to find ways to integrate technology into everything you do.
When done well, technology can help you and positively impact every aspect of your business. Here are just a few ways to leverage technology to enhance your offerings:
Create and/or update your website. Build your presence online with a website that showcases what your business does and how you can help customers. Include customer testimonials about what it is like to work with you. Make sure your website is built with a responsive design. This ensures your website displays correctly on any device — from computers to mobile devices.
Tap into automated systems. There are many offerings available that allow you to seek quotes with the click of a button. At Syndicated Insurance Resources, we offer access to more than 150 insurance markets and 40 unique offerings for free. Our tools help you respond to clients quicker than ever while immediately finding options – even for those hard to place clients.
Build your brand online. Social media allows you to market to your prospective customers online. With the click of a few buttons, you can share information that positions your company as a valuable resource. You can also engage and interact with prospects virtually through your social posts. Plan out social posts 30 days in advance so you can schedule them – using a tool like Post Planner or Hootsuite. The key is to consistently use the social platforms where your prospects hang out.
Automate your customer service. Today’s generation likes to use Facebook and Twitter to engage with brands and companies. You can respond to questions, comments, and concerns via your social outlets. Interacting with your customers in a timely manner can positively impact what is said about your company.
Provide valuable training. Webinars are an easy to implement tool. You can present valuable information – such as how to prepare for a storm, how to file workers’ comp claims, and much more. When done right, you can use webinars to position your brand and expertise in all things insurance.
Still not sold that you need to embrace technology in your business? Here are a few statistics to keep in mind:
- 84% of CEOs and VPs say they use social media to help make purchasing decisions.
- Consumers say that social media plays almost as big a role in purchasing decisions as does television. (Ad Age)
- Of the 7.2 billion people on earth, 3 billion have Internet access; 2.1 billion are active on social media; and 1.7 billion use social networks from a mobile device. (Link Humans)
- 96% of small business owners/marketers use social media marketing, and 92% of those agree or strongly agree with the phrase, “Social media marketing is important for my business.” (Social Media Examiner)
- Unfortunately, 34% of small businesses have no social media presence at all, and 36% of those who do never respond to customer comments online. (Direct Marketing)
- Marketing automation drives a 14.5% increase in sales productivity and a 12.2% reduction in marketing overhead.
- 1/3 of insurance business is expected to occur digitally by 2018 (EuroIT Group)
Why wait until 2018 or later to set your insurance business apart from your wanna be competitors? Start to implement technology throughout your business today.
Not sure where to start? Sign up for a free Syndicated Insurance Resources account today. This one tool will save you time and money while allowing you to receive higher than normal commissions.