Explore an interactive framework to learn where your agency should concentrate to improve digital adoption.
Digitalization is becoming more and more critical for independent agents as customer expectations continue to evolve. According to a recent Liberty Mutual survey of more than 600 U.S. consumers, 82% believe a company's digital experience is either somewhat or very important when they are considering doing business.
Further, consumers indicated that digital interactions were imperative in how they experience the company: 68% of consumers reported feeling satisfied after a good digital experience, while 67% reported feeling frustrated after a bad digital experience.
Combine these findings with the Rise of the Digital Insurance Agency report, which found agencies that are high digital adopters grew revenue 60% faster than their less digital counterparts, and the connection between exceptional digital experiences and the bottom line becomes clear.
“Over the last year, the pace of digital change has rapidly accelerated," says Tyler Asher, president of independent agent distribution at Liberty Mutual and Safeco Insurance. “And while some things will likely return to normal in the coming months, this digital evolution driven by customer expectations is one trend that is here to stay."
“For agents, this means that investing in digital tools and tactics is now an essential part of doing business," Asher continues. “This new Agent for the Future experience was created to help agents understand what that can and should look like in their agency."
Unlocking the Power of Digital in Your Agency is a research-based resource grounded in the findings from the Rise of the Digital Agency research, which analyzed several dozen digital capabilities and uncovered seven that are highly correlated with revenue growth.
These capabilities in the graphic below span a range of tools and tactics, 15 of which were plotted into a digital transformation framework and grouped based on complexity—from fundamentals to modernizations and innovations.
To get started, agents can take a three-minute assessment to determine where their agency stands within the framework. From there, agents can dig into their personalized results and explore the curated content, which offers industry best practices from dozens of sources on how to strategically implement digitalization.
Will Jones is IA editor-in-chief.