Do you ever have that feeling where you just want to grab someone by the shoulders and shake them and say “This is so simple!”
What’s up insurance guys and gals!
It’s 2022. The handshake & bolstering up your mileage for tax purposes are both considered questionable. In their wake, we are left with the Sigma Chi Fist Bump, the Awkward Elbow Kiss, and a 3X Stock Price on Zoom Video Communications.
Technology can be a powerful tool for businesses of all sizes. However, many business owners think of technology as just a necessary evil. It's expensive and hard to maintain, so why bother? The problem with that mindset is that it fails to acknowledge that technology exists to make our lives and our jobs easier! One of the most common mistakes made by those utilizing a new digital platform is to assume that the technology will be a magic pill for all of their pain points and bottlenecks. When implementing a new product or tool, you owe it to your customers, your team, and to your bottom line to do the due diligence to truly embrace it and incorporate it.
What is the core value proposition of an independent agent to the marketplace?
As customers of Insurtech, let’s take a look at the overwhelming asks of agencies WITHIN the IA channel. It is easy to see based on the companies gaining traction in the space that agencies are asking for faster, easier, more efficient ways to get things done. Faster ways to quote, easier ways to bind, better tools to drive new business into your agency.
When you look at any system, the equation is going to be about the same; a compilation of input (effort) turning into a corresponding output (results). This is no exception when it comes to doing business in the insurance industry. The proverbial totem pole is measured by success when it comes to producers, agencies, and carriers which all stem from the same equation. When you are in a competitive industry, you have to identify how you are going to work your way up the totem pole. This typically comes in the form of more input than the competition but sometimes, there is a path of least resistance; we call this working smarter not harder.
Visualize your ideal producer. The rep that is always working hard and always “on”. The one that is always making connections, supporting their clients, and providing valuable information on available options. You know, the one that never fails to make an excellent first impression.
A significant majority of the insurance industry employees are women, and the role we play is integral to the success of the industry. Like many, I have experienced firsthand that the insurance industry is a historically male-dominated business and gender issues have existed for a long time.
How many times have you tried to accomplish a task on your phone only to realize the website is just the regular desktop website but shrunk down into a teeny tiny version which makes it super difficult to see or do anything? Probably quite a few. State DMV websites, Doctors' websites, and Insurance websites are some of the worst offenders in the market.