5 Ways Technology Has Transformed the Insurance Industry
July 5, 2017
The world of technology is constantly changing, and it’s making waves in almost every industry, including insurance. Today’s insurance agents don’t operate in the same way that they did 20 years ago. In fact, 88 percent of adults in the U.S. use the internet. Technology offers amazing new ways for agents to provide personalized, advanced service to community members.
Discover a few ways that Farm Bureau agents use technology to build a successful career while protecting the livelihoods and futures of client/members.
1. AGENT WEBSITES
In today’s digital age, it’s essential that businesses have an online presence. 97 percent of consumers first look online for products and services, before calling or walking in the front door. It’s often the first interaction potential client/members have with your business. At Farm Bureau, we provide every agent with a free website to help you build your online presence.
Personal websites give agents the opportunity to tell their story and provide information about themselves, the products and services they offer and how users can contact them and get a quote.
Did you know 67 percent of consumers say a website impacts their opinion of a brand? That’s why Farm Bureau provides websites that follow the latest best practices in the industry. We live in a mobile, on-the-go world, and it’s important to have a website that works well on every device. Our agent websites are responsive, meaning they reformat based on the screen size of the device being used. They’re optimized for search engines, making it easier for your website to appear in search results when current client/members or potential prospects are looking for a new agent through an internet search.
2. USING MOBILE APPLICATIONS TO RUN YOUR INSURANCE BUSINESS
Have you heard that smartphone users are spending 90 percent of their time in apps? Insurance agents are out and about in their communities, and technology such as smartphones and mobile apps give them the opportunity to always have the information they need at their fingertips.
“Having this mobile technology is crucial to how I run by business,” stated Brandon Doke, a Nebraska agent. “I can run a quote or look up information from anywhere, and I’m prepared for any questions my client/members may have.”
Farm Bureau agents use mobile applications to:
- Reach out to new prospects
- Promptly respond to client/member requests
- Run auto and home insurance quotes
- Make changes to policies
- Create life illustrations to help client/members better understand what services are available and where they might be missing coverage
- Access client information on any mobile phone or tablet
3. CRM PLATFORMS TO GROW YOUR NEW BUSINESS
Insurance agents need to manage large amounts of client information, and advancements in technology have made that a little easier. Today, agents can use Customer Relationship Management (CRM) platforms to effectively organize and access client information.
At Farm Bureau, our CRM system allows agents to quickly find details about clients and their policies they have with us. They can view all client interactions with Farm Bureau from receiving mail to talking to our customer service representatives. This allows agents to get a total overview of the client’s relationship with the company to provide more personalized service and better understand the client/member’s needs.
“Our CRM helps me organize my appointments and send out auto reminders to my client/members about those appointments,” said Josh Sievers, IA agent.
4. MARKETING AND ADVERTISING YOUR BUSINESS ONLINE
A major part of starting your own business is getting the word out about what you do. Whether you’re just jumping into your career as an insurance agent, or you’ve been serving client/members for years, marketing and advertising will likely play a role in your success.
Fortunately, you don’t have to be an advertising pro to raise awareness about your services as a local insurance agent. Farm Bureau provides an online Marketing Toolkit for all of your marketing and advertising needs. Our toolkit helps agents target high-quality prospects and effectively market themselves in their communities. In our toolkit you’ll find:
- Business images and logos
- Advertising guidelines
- Corporate advertising and direct mail calendars
- And many more valuable resources!
“The Marketing Toolkit is a great asset to have because it’s user-friendly,” said Doke. “The new improvements that were made show another way that Farm Bureau is committed to supporting its agents.”
From social media to advertising in the newspaper, our Marketing Toolkit contains all the materials you need to market yourself and your business. Agents don’t need to reinvent the wheel when it comes to marketing – all of our materials are at their fingertips and just a few clicks away!
5. ENGAGING WITH CUSTOMERS ON SOCIAL MEDIA
The number of consumers who use social media continues to increase each year, and the trend is expected to continue upward. In the United States alone, 56 percent of Americans have a profile on a social networking site, 22 percent use social media several times a day and 95 percent of online adults between the age of 18-34 follow a brand or organization on social media. There is a large, engaged audience on social media ready to hear about your local insurance agency.
Furthermore, social media is revolutionizing customer service. It’s been found that 78 percent of those who tweet a question/comment/concern to a brand on Twitter, they expect a response within an hour! It’s critical to engage via social media to receive notifications in real-time and interact with your customers in a timely manner.
WHAT IS HEARSAY SOCIAL?
At Farm Bureau, we understand that social media is where a large portion of our current and potential client/members are spending their time. Because of this, our agents have enrolled in Hearsay Social, a social media tool, to help grow their online presence in a way that complies with Farm Bureau regulations. With just a few clicks, agents can share a wide variety of pre-approved and customized posts to their followers and track the engagement.
“Hearsay Social is a huge time-saver for me because you can schedule out numerous pre-approved Facebook posts and customize them as well,” says Sievers. “It’s great content to share with your followers.”
Farm Bureau agents can also use a digital coach to help set up a profile, train on Hearsay Social’s functionality and provide ongoing support for the tool.
TECHNOLOGY IS CHANGING THE WORLD, AND WE’RE CHANGING WITH IT
At Farm Bureau, you’ll always have a helping hand to guide you through the changing technologies, whether that’s websites or social media updates. We continually come up with ways our agents can use technology to build successful businesses and provide unmatched service for their client/members. If you’re ready to jump into a career with a team that sets you up for success, click “Get Started” today!