The new wave of insuranceTech can manage virtually every step of a client’s insurance-buying journey - from gathering data to the eventual purchase. That makes some agents nervous. They fear they may be the next industry experts ousted by automation.
At AgenciesOnline, we think you’re underestimating your value. Sure, emerging technologies are impressive, but they lack the human touch that consumers seek.
More nimble industries - those with fewer regulations and risks to consider - have used technology to make it easier for consumers to say yes to their products and services. They’ve conditioned consumers to expect more than a purchase; they’ve taught them to expect an easy purchase, a seamless shopping experience.
They’ve made simplicity so popular that 67% of consumers are now open to purchasing insurance from non-insurers.
That’s being a bit hasty.
Insurance isn’t easy. It’s complicated. Making the best purchase when it comes to risk management requires input from experts. It requires guidance and support.
That’s where you come in.
According to research from J.D. Power, consumers who engage with agents using emerging technologies have the highest levels of satisfaction. Why? Online quoting, automated emails, and other tech tools make it easier to close the gap between you and your clients. These tools have the power to improve your agency’s operational efficiency and satisfy your clients’ expectations of what modern businesses look like.
But it’s important to note the exact conditions that make clients happiest: engaging with agents. In other words, it’s not the technology that satisfies them, it’s the tech-savvy agent using productivity tools to enhance their clients’ experiences.
Equipping a knowledgeable, personable agent with tools that make matching rates and risks more accurate is a formula for success. People may be willing to purchase insurance from Amazon for ease-of-use, but 41% of consumers are also willing to pay more for personalized, expert assistance. That makes your agents the obvious winners in a showdown with non-insurers.
Customer want more than products, they want authentic relationships and guidance. You may not be able to compete with a computer when it comes to efficiency, but you can certainly compete when it comes to understanding the needs, goals, and stressors of your very human clients.
Get in touch with the insurance marketing specialists at AgenciesOnline to gain more insight into reaching your ideal markets.