- 29,534
No, I think it was Al Gore. After all, he invented the internet.
Internet steadily becoming the way consumers learn about insurance products
- Thread starter Insurance Forums Staff
- Start date
- 5,300
Since I write larger and more complex commercial p&c, the chances of my clients going online (or anywhere) and getting a complete understanding of what they need, complying with contracts and landlord demands, is about 0. A large amount of my business comes from other agents that have screwed it up or turned it away.
But personal p&c? I'd be surprised if more than 10% of the population is using an agent 10 years from now. That's why State Farm and Farmers are pushing banking and life insurance so hard. Most home and auto is simple enough any *** can figure it out and buy online. A decade from now only the higher net worth and more complex personal polices will be through an agent, the rest will likely be online.
But personal p&c? I'd be surprised if more than 10% of the population is using an agent 10 years from now. That's why State Farm and Farmers are pushing banking and life insurance so hard. Most home and auto is simple enough any *** can figure it out and buy online. A decade from now only the higher net worth and more complex personal polices will be through an agent, the rest will likely be online.
"Online" are still agents, just like you. Or agencies...
Even as carriers go direct online, there is still not a comparison opportunity unless you're quoting with an independent agent/agency.
This is simply a shift in buying preference, not selling.
I love this trend. If a consumer comes to me more informed about disability insurance and knows what they're looking for and an approximate cost that they're willing to pay, that app is a layup.
It helps a lot when your customers know what they "think" they want. The rest is still an education process mostly completed over the phone. Often, their thoughts change but at that point, they are engaged and are going to move forward in some capacity.
The trend is your friend.
Romairon
New Member
...And what will be the next? Which way the agents should go to save their business or they will loose it any way? What do you think about it, colleagues?
- 5,300
I saw the writing on the wall a long time ago and went commercial.
A lot of personal p&c is going to go bye bye to Progressive, Geico, Lemonade and Esurance. It's already happening, and keeps accelerating.
- 25,065
How we market ourselves will a differential as well. Are we chasing them? Or are we drawing them into us?
That and that.
When they come to you, you're not selling (as you know). You're educating them on their choices and they're buying what's best for them.
It sounds the same but feels different on both ends (agents/consumers).
- 4,138
I completely agree with Ray and Wino. The barrier to entry with digital marketing is more challenging up front, but the highest ROI when you're doing it yourself.
Anthony Martin, who owns MutualChoice.com, started grinding out his website about three years ago. He gets 20k in traffic a month. Even with a conversion of 2%, guy is processing 400 leads a month.
No wonder he's a million dollar agent.
Anthony Martin, who owns MutualChoice.com, started grinding out his website about three years ago. He gets 20k in traffic a month. Even with a conversion of 2%, guy is processing 400 leads a month.
No wonder he's a million dollar agent.
Hey Travis,
Are you a member of www.selltermlife.com? A lot of like-minded agents on the forum over there (including Anthony).
I would recommend joining if you're interested in digital marketing. The conferences are also fantastic.
- 25,065
10X10
I am seeing a couple tomorrow I have never met.
They were referred to me by her best friend. She called me. The opening conversation was something like this. Her >"I was wondering if you would help us" They have New York Life and I think AIG now. I can tell by our conversation that She is bright and has been reading online. That is going to make the conversation with them much easier. I prefer to work with people that already own insurance and have some understanding of it.
Similar threads
