Insurance Agencies have undergone significant transformations, largely due to a new generation of digital customers and changing business environment. The recent events of COVID-19 have led 85% of insurance leaders to competitively expand the digitalization of their Agency processes as well as 48% aiming to optimize customer experience management. Agencies are increasingly becoming pushed to re-evaluate the way they connect with their digitally-oriented customers and maximize operations to remain competitive. Therefore, as a Principal Agent Owner your primary goal today is to maintain a competitive advantage and win customers, but how?
Regardless of your insurance agency’s product, size, or client capacity, you now require an effective Agency Management System (AMS) to maintain viable business performance in engaging your leads and clients as well as generating sales. The effects of driving innovation, according to 76% of insurance leaders, are currently at their most crucial time as rivals gain an overall edge in customer experience, productivity, and procedures by utilizing effective digital platforms. Thus, digital solutions for your Agency now rapidly determine organizational survival, and moving beyond issues in outdated systems is a matter of self-preservation.
Solve modern-day Insurance Agency challenges by eliminating fragmented processes!
A comprehensive and dynamic AMS, built on the foundation of Customer Experience Management (CXM) technology, will help Principal Agency Owners gain Agency independence. In a study of the advances in insurance technology, approximately 50 to 60% of administrative tasks in your Agency can be automated. Automation can assist you in determining how you want your organization to operate, as well as enhancing and streamlining business processes via sophisticated workflows and AI/machine learning. In addition, the right system will empower your Agency with a simple solution to manage multiple agency locations with a holistic view of the organization’s functions, to monitor and improve sales performance.
According to Accenture Insurance, 76% of Insurance Agencies state their workforce is further technologically adept than their organization, forcing skilled employees to be haltered as the organization slowly closes the gap. As a Principal Agent Owner, you have the ability to empower your teams, helping them collaborate and build confidence. As a result, your Agency must become technologically sophisticated in order to provide the resources your employees require to assist in attracting new and existing customers. Technology may relieve experienced workers of time-consuming activities, allowing teams to focus on important organizational tasks. Teams can now respond promptly to leads within the sale cycle and prompt facilitating quote premiums to conversion, all the while enabling your Agency to assess their individual performance as well as providing you overall Agency performance results in real-time. Advanced features further allow Principal Agents to quickly assess productivity, monitoring actions completed and activities remaining, including the total leads secured and lost.
Get the most out of your AMS with great customer experience solutions!
By investing in a customer experience-focused digital platform, Principal Agency Owners will elevate their Agency with fast lead conversion and seamless lead management, ensuring an effective customer experience. In fact, 41% of individuals believe limitations in modern insurance capabilities leave customers inclined to change insurers. Customers today demand a highly engaging and flexible experience, often taking the initiative to seek information on their own terms through a variety of devices. Therefore, ensuring you have the right tools to service and provide accessibility for your customers is highly important. By adopting an AMS platform with Omni-Channel capabilities, you have the power to provide personalization, creation, and delivery of proactive two-way customer interactions, fostering highly lucrative relationships with customers.
The investment of an all-in-one solution will provide the means for document generation to be compiled faster digitally, and drive value through the automation of manual Agency processes. Two-thirds of an organization’s competitive edge comes from its customer experience, and inadequacies in operating speed and precision could leave your agency to underperform. It is no longer adequate to make a customer fill out paper-based application forms or wait lengthy response times between each request. This means upgrading outdated technologies and transitioning to digital web forms so that your organization can securely gather customer information, communications, and documentation. With a responsive Agency framework, you can inspire leads and gain customers by offering a unified image to each customer throughout each touchpoint in the customer journey.