A new report from Capgemini says comprehensive digital solutions are key to unlocking distribution going forward. “As carriers look to increase their market share and thrive amid a volatile life insurance landscape, a positive agent and broker experience is critical to their success,” say authors of the report, What agents are really asking for? 3 digital imperatives life insurers can’t ignore.
The report says there are three areas of concern life insurance agents consistently say they need help with: increasing market reach, selling more policies faster, and providing clients with a best-in-class experience. (Each sentiment is unpacked alongside suggestions, examples and case studies.)
“On the front lines of educating consumers, agents are too often constrained by siloed, legacy and cumbersome processes and technology. This handicap hinders their ability to deliver clear, compelling messages about the value of life insurance products,” they write. “The solution lies in reimagining the self-service experience for the customer (with their agent in the loop).”
Help agents increase their market reach
They point out that most agents are not marketers by nature or trade. “They are salespeople who engage with their customers and hope to close the deal. As they grapple with how to expand their presence and reach beyond their family, church and closed-net ecosystem, carriers can help by responding with localized, field marketing campaigns to activate in their communities,” the report states. “How are you as an insurance carrier helping agents increase their market reach?
They also ask which tools carriers are employing to aid agent engagement with customers, saying “insurers that equip agents with streamlined digital tools for serving clients save significant time, resources and staffing, while agents are empowered to deliver a top-notch customer experience at each client interaction, no matter when and where it takes place.”
