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.