As direct-to-consumer offerings increase, next-generation insurance agents are differentiating themselves with new capabilities in their operations and culture: Novarica
Boston, MA (Apr. 7, 2020) – As the number of direct-to-consumer insurance offerings continues to increase, the next generation of insurance agents must either follow the traditional strategies to market, sell, and service their business, or they must explore new options. In a new report, Young Agent Insights: Marketing, Sales, and Service Capabilities, research and advisory firm Novarica provides insights from discussions with members of 400 Under 40, a community of high-performing insurance producers under the age of 40.
“A majority of younger agents indicate that they are ready to leverage data and services from insurers to improve their marketing, sales, and service experiences,” said Kevin Rall, Vice President of Research and Consulting and author of Novarica’s new report. “But a much smaller segment of agents have actually been successful in changing their behavior and operationalizing their technology capabilities for the good of the customer. Insurers and agents that leverage technology as part of their trusted advisor relationship may end up demonstrating that a technology-fueled relationship itself is the most desired consumer experience.”
Click here for the table of contents or to access the report.
Report Summary
Young, independent insurance agents are finding ways to differentiate themselves in the market by providing enhanced customer experiences through the use of technology.
While insurers often want to support their distribution channel effectively with new capabilities, adoption of emerging technologies by agencies remains low. Successful partnerships between insurers and agents are highly dependent on agents’ willingness to incorporate new capabilities into their day-to-day operations and culture.
This brief explores how the next generation of agents is approaching marketing, sales, and service.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: customer experience (CX), Millennials, Novarica, technology investment
