The following article was provided by Zywave.
It’s that time of year again!
As we near the end of 2021, it’s always good to reflect back, celebrate the good things, and start to look forward to the new year. The past two years have given us a lot to think about. The path forward for insurance brokerages, agencies, and carriers will require digital awareness, strategy, and the right combination of tools. These tools will help insurance professionals meet consumer marketplace expectations, improve customer experience, and earn and retain more business.
When was the last time you evaluated your digital infrastructure and tools? Do you have the right tools in place to be successful in 2022? It might be time to make yourself an insurtech wish list.
What should you be looking for in you technology stack?
There are a lot of dependencies to consider when evaluating what tech stack, or ecosystem of insurtech solutions, is right for you. In general, to be successful in today’s digital marketplace, these are the foundational items that every insurance agency, brokerage, or carrier should have.
If cold calling is still your primary prospecting strategy, it’s going to be a frigid winter.
With automated marketing and lead generation tools, you can create targeted campaigns to send communications to specific groups or individuals based on various factors. The insurance industry’s best marketing and lead generation tools should provide users with access to large databases of P&C and employer profiles.
Warm up the introductory conversations with potential leads using lead profiles filled with prospect insights. The best tools allow you to compose those lead insights into custom branded presentations. Tools like these show prospects that you did your research and are in a unique position to help them accomplish their goals.
A quality marketing and lead generation tool can instantly increase your number of new prospects and conversion of prospects to new clients.
Email marketing automation
Identifying leads is one thing, but engaging them with tailored, timely communications is another. With email marketing automation, you don’t have to worry about making lists and checking them twice; instead, use dynamic lists to ensure your messages target the right people at the right time.
But email automation isn’t just about generating new leads.
Consumers now expect timely, quality, and consistent communication from businesses. This is true for carriers and agents. So, ask yourself this question – are you satisfied with your frequency and the quality of communication with your prospects and clients?
In 2021, most carriers, agencies, and brokerages missed the mark.
According to a recent JD Power Study, corporate policyholder satisfaction is down 15 points within the last two years. Within the past year alone, policyholders are 20% less satisfied with the communications they are getting than they were a year prior.
Email automation, along with some helpful consumer content, can be just what you need to show your policyholders the love in 2022.
Managing all the content you need to run your business can feel like an uphill battle. Trying to figure out who owns which content, whether it’s still accurate and up-to-date, and how and where it should be stored can lead to low utilization and wasted hours trying to locate or recreate existing resources.
But there’s a simpler way. With the best content management systems (CMS), you can have the tools to organize and manage your content in one convenient location.
When beginning your search for your next CMS, here are some important items to be on the lookout for.
Agency Content Database
You probably have droves of content that your agents regularly access. By keeping that content in one centralized location, your agents will save time when accessing and disseminating that content to prospects and clients.
Grow your business and stand out from the competition with the ability to easily brand your content. A good tool should enable your employees to make branding and customization changes using a quick, convenient tool to add your logo to every resource at once.
Mold your agency or other content into your existing processes with administrative controls and features to help you manage how and where your resources are used. Look for features like bulk and individual resource tagging and favoriting most-used files.
Agency Management System
Access to an Agency Management System (AMS) is potentially the most foundational tool a business can have. Access to a great AMS allows your business to manage your data, streamline workflows and automate operations. Ideally, your AMS should have three primary functionalities. Those are account and contact management, activity and workflow management, and file management.
Everyone loves a good deal around the holidays. With comparative rating or quoting and proposal solutions, you can provide your prospects and clients with instant and accurate pricing direct from carriers. You can also easily compare and analyze quotes to ensure you’re providing the best possible plans to your clients.
Client portal and learning management systems
Make it easier for your clients to contact you in 2022.
Give your clients the ultimate gift this holiday season by delivering a client portal where they can access HR, benefits, safety, risk management, and compliance content so they can find the answers they need around the clock. “Wrap” your client portal with your logo and colors to put the final bow on your gift and continually showcase your value.
Don’t stop there.
Promote compliance to your clients by offering them an innovative LMS where they can assign their employees all the courses they need to stay compliant and keep employees safe, including workplace safety courses and sexual harassment prevention training.
Finding the right solutions for your agency can be a time-consuming and daunting process. With the right help, though, it can make all the difference. If you want to learn more about how Zywave can help you get everything on your insurtech holiday wish list, download our free holiday gift guide today!