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7 Investments to Fuel Remote Insurance Sales and Client Management

Technology is reshaping insurance sales and client management, providing new opportunities for success for insurance professionals.
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7 investments to fuel remote insurance sales and client management

The insurance sector is transforming due to technological advancements, including in relation to remote work. After the pandemic prompted many insurance professionals to work from home, remote work has continued post-COVID-19 for many agencies.

This makes it more important than ever for agents to embrace tech tools and tactics that enable them to succeed in a constantly evolving field. Technology is reshaping insurance sales and client management, providing new opportunities for success for insurance professionals. Here are seven ways to make effective use of technology:

1) Effective workstation. Before any sales concerns are addressed, remote insurance agents working from home should focus on a workstation that promotes productivity and efficiency. Hopefully, by now we've all graduated from the early pandemic days of working at the kitchen table, but your workplace likely could still use improvements. 

Bring in ergonomic furniture that will provide comfort and efficiency, personal touches to the room, such as pictures or paintings on the walls, and focus on setting up the best possible lighting, especially in a naturally darker space like a den or garage.

2) Virtual client interactions. Video conferencing tools have become essential for communication in the insurance industry, enabling agents to interact with clients smoothly regardless of location. Programs like Zoom and Microsoft Teams facilitate face-to-face conversations, offering adaptable communication methods while providing an improved client experience.

Insurance agents can also present information, review policy specifics, and address client questions over video calls or recordings. Additionally, sharing visuals and documents during client meetings can speed up the decision process by making it simpler for clients to grasp insurance concepts.

3) Automation. Many insurance agencies are turning to automation technology, including artificial intelligence (AI) and machine learning programs, to transform the practice and speed of online customer service.

Robotic process automation (RPA) employs software bots to take over time-consuming, routine and repetitive tasks, freeing agents to dedicate their time to more strategic activities. This simple change drives efficiency, speeds up the insurance process and ultimately elevates the customer service experience.

Artificial intelligence (AI) and machine learning programs streamline daily business processes through chatbots. AI can also assist insurers with underwriting and other basic policy-related tasks. By automating these tasks, insurance agents can devote their attention to the value-driven aspects of client relationships.

4) Predictive analytics. Data holds significant value, and predictive analytics is vital to the future of independent agencies and the insurance industry. Insurance experts can use predictive analytics programs to identify and predict data patterns, empowering agents to make well-informed decisions. This technology allows insurance professionals to anticipate client needs, pinpoint potential risks and customize policies to suit each client's situation.

Most importantly, agents can use predictive modeling for customer segmentation. This process allows agents to target specific demographics with tailored marketing and sales strategies. This approach boosts the effectiveness of sales efforts but also builds more trust and a stronger bond with customers. Through data-driven insights, insurance agents can stay aware of marketing trends and offer proactive solutions to their customers.

5) Cybersecurity. Cybersecurity ensures a company's data is safe from internal and external attacks. With the addition of remote and hybrid workers, corporate attack surface areas continue to increase. IT departments must secure various systems and endpoints within and outside the organization so hybrid or remote employees can access networks safely from their homes without jeopardizing sensitive agency and client information.

As more insurance professionals work from home, protecting sensitive consumer data becomes necessary for any agency. To keep client data safe and ensure their trust, agencies must employ advanced cybersecurity programs such as encryption, secure virtual private networks (VPNs) and multifactor authentication.

Additionally, insurance agencies must stay informed of the latest cybersecurity threats and continuously update or upgrade security programs. Agencies should require all agents to attend regular cybersecurity best practices training sessions. This training helps remote agents to identify, mitigate or prevent potential attacks, protecting and ensuring the integrity of client information.

6) Customer relationship management (CRM) and project management programs. The future of technology in insurance brings exciting new ways for agencies to change and improve their digital strategy. Agents often focus on applications and renewal experiences, which takes up valuable time. However, with tech management tools, they can also enable simple online interactions, such as client portals that manage all information in a central space.

Working remotely requires agents to use a system that efficiently handles client relationships. CRM programs are invaluable tools for insurance professionals looking to streamline customer interactions, track leads and effectively manage policies. CRM systems consolidate client data while also automating routine tasks so agents can put their time to better use on high-value activities. Workflow automation may include sending policy renewal reminders and follow-up emails so that clients receive timely, personalized communication. 

Project management is another critical need for agencies, with remote teams working together on complex processes and workflows. Agencies should use project management software that provides tools for task management, project visualization, resource allocation, reporting functionality, and collaboration.

7) Training and development. Automating insurance sales training and development is critical for a successful remote agent; however, many agencies don't have the technology or training resources to support end-to-end training. This means there are always issues with gaps in knowledge between an agent's approach and a client's needs. These insurance agencies can bridge those gaps with appropriate technological tools, such as online training modules.

Through automated training, agents can take small training modules that cover all aspects of agency work, from prospecting to closing. Agencies can also create assessments for each module to ensure their agents have studied the course and thoroughly learned the material. Internal certification courses will continue to foster remote agents' skills in cold calling, drawing proposals, writing cold emails or closing sales.

All training modules could be saved in a cloud information repository on the agency's CRM platform and app so that agents can access these resources and policy information anytime.

Sam Bowman writes about careers, tech, insurance, and how they merge. He enjoys getting to utilize the internet for a community without actually having to leave his house. In his spare time, he likes running, reading, and combining the two in a run to his local bookstore.

Friday, April 19, 2024
Sales & Marketing