U.S. Independent Agents Increase Use of Key Digital Technology

Agents want more carrier support, including commercial lines download, e-signature and better customer-facing solutions—yet significant gaps remain in mobile apps and cybersecurity preparedness

New York, NY (June 18, 2018) – There is good news for independent insurance agents. In the past two years, they have made significant advances in awareness and use of digital technologies to improve the customer acquisition and service experience. Today the majority of agents, 95 percent, say that digital technologies are important or very important to their success, a substantial increase from the 58 percent who responded similarly in 2016.

This is according to the new Insurance Digital Transformation Survey, a study conducted by the Insurance Digital Revolution. This survey is the second in a series conducted to understand agents’ use of technology today and how they need to transform to best serve their customers.

The study highlights four key themes:

1. Agents are shifting the balance from internal efficiency to customer experience
2. Most of the focus is at point-of-sale
3. There’s a drive to redefine the service experience
4. Many are not prepared for cyber threats

Some key findings of the survey reveal:

• Agents want more carrier support including commercial lines download, e-signature and better customer-facing solutions.
• 55% of agents say there are more ways carriers can support their digital initiatives, including more download, especially commercial lines and commission statements, assistance in training staff and support for e-signature
• Only 7% rate their web sites as excellent.
• 76% of agencies do not provide any mobile applications for prospects or customers.
• 18% provide 24×7 service for their customers.
• Only four percent of agents said carriers’ customer facing technology is excellent.
• Only 37% of agencies have a written security plan or hold cybersecurity training. Despite the lack of protection, 55% rate their cybersecurity protection as good or excellent.

Survey Results and Download

Download the 2018 Insurance Digital Transformation Survey.

Visit the Insurance Digital Revolution website for additional findings.

About Insurance Digital Revolution

The Insurance Digital Revolution (IDR) is an industry advocacy and communications initiative to accelerate the adoption of digital technologies that enable independent insurance agents to improve customer satisfaction, grow business, and increase profitability. Organized by IIABA’s Agents Council for Technology (ACT), Associations & User Groups Information Exchange (AUGIE) and the PIA, IDR is focused on acting as an information hub with resources to accelerate technology adoption, generating awareness of new tools, providing a roadmap for implementation, and growing usage of existing solutions.

Source: Insurance Digital Revolution