Young, high-performing agents are shaping the industry’s future with their approach to technology. Like insurers, these agents continue to explore and implement new capabilities that create a differentiated customer experience.
The next generation of agents recognize the value of explaining the differences in products, pricing, and services to potential clients. Tools and capabilities that assist agents in communicating policy differences and risk exposures can reinforce their trusted advisor relationship.
While many agents employ the same paths to market and servicing processes as their predecessors, some young agents are reevaluating their approaches to marketing, sales, and service. Here are some ways they’re modernizing these areas.
- Marketing Their Personal Brand on Social Platforms
Young insurance agents are leveraging social networking platforms to build their personal brand and demonstrate their value to a specific niche of customers. Developing content and messaging as a trusted advisor strengthens their existing relationships and positions them to build new ones. Insurers can help these agents by offering curated marketing content to support their outreach.
- Using Third-Party Data in Sales
Connecting with the client on a personal level and demonstrating expertise can take significant time. Insurance companies that can help agents enhance the buying experience with data and insights are likely going to see more business from younger agents who are just starting to build their books of business. For instance, leveraging third-party data in a guided sales flow can help shift the conversation from one that is focused on collecting the client’s data to a strategic discussion about risk and coverage decisions.
- Realizing the Cost Benefits of Self-Service
Younger agents are more likely to sign up their customers on customer self-service portals as well as leverage capabilities that limit the time the agency spends on non-revenue-generating service activities. Some producers are utilizing automation to reduce their operating expenses and provide proactive outreach to their clients at the time of renewal.
Insurers can look to engage with these agents and brokers by providing them with the support needed to become the most effective trusted advisor. For a more in-depth look at how young agents are approaching their work, please read Novarica’s research brief Young Agent Insights: Marketing, Sales, and Service.
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