Good/Interesting News for Agents

[Bob Klee]

Article I just found dated February 22, 2012 by Ernst & Young in "Property Casualty 360." Worth reading IMHO. HERE

Quote: "Consumers do not want to do all their insurance shopping online, they care about more than just price, and good claims service is something consumers expect, rather than an extra bonus that will help a company’s retention rate, according to the findings of an Ernst & Young survey. "

What about Online sales? Quote: "As for actual insurance purchases, just 7 percent of consumers in the Americas use online channels..." and "Regarding property and casualty consumers’ online habits, E&Y notes that “received wisdom” is that internet resources are growing and that in the future, online will be the dominant channel for both research and transactions. But the study says, “Our research indicates that while online is an important part of the future, it is just one component of an integrated channel management capability that is critical to growth.”

Encourage all to read & be encouraged. I really like the part about "is Price the key driver"....read the article & find out!

Tidbit: "Blogging for Lead Generation" Here

 

[Todd Payne]

Interesting article. The point about many consumers who did switch companies would have stayed if their agent had contacted them reinforces the need to contact your clients and touch base prior to renewal. A few points in increased retention equals a lot of money.

Some good tips from the blogging for lead generation article as well.

 

[wave828]

Nice article. Good info.

 

[junkman]

My take is that people want to do their own research & make their decisions. The problem comes up when dealing with complicated stuff.

In any industry, looking at specs 2 items look the same. The problem comes up in the details. That is where an agent earns his money - showing why this plan that looks just like another is worth more.

I also note that carriers will throw us overboard if they can. UHC is already doing it in the 100+ health market. Commissions are now a negotiated fee for service billed as a separate line item not included in the renewal. Of course, "IF our mutual client wants to go direct, UHC will accommodate."

 

[pharma]

I think so too. People still want to rely on personal interaction when buying insurance and only use online channels to get a quick overview or comparison.

 

[rousemark]

When it comes to life insurance, there is an important component that is missing online. Motivation to act. The client knows they need it, they even look at coverage amounts, pricing, etc.but when it comes to hitting that little button that says "Buy Now", they procrastinate, failing to act, thinking, "There is plenty of time, I'll shop some more."..

That is where the agent comes into play.. The agent's job is to motivate the client to take action and a trained agent will be able to do that in a manner that can never be matched by a website. As long as "people are people", there will always be a need for sales agents.