Recent advancements in technology and the continued growth of the internet have completely altered the role of a life insurance agent, in a good way. Now, instead of focusing on time-consuming manual work, agents can focus on customer service and generating more leads. Technology is making the lives of life insurance agents easier and less stressful, while saving time and increasing revenue.
Let’s look at some of the incredible benefits of introducing life insurance technology to your agency.
1. Increased Growth
A digital life insurance agent can easily leverage a single software system to:
- Track sales opportunities
- Manage financial accounting
- Gain visibility across an entire book of business
- Better manage customer relationships
- Gauge market appetite
Allowing software to do the managerial work allows life insurance agents to focus on selling policies and serving their clients. An agent’s time is better spent improving customer experience, obtaining higher customer retention, and growing their business.
2. Improved Safety and Trust
Customer trust is essential for the growth of any business organization. But it becomes a hundred times more crucial when it comes to the insurance sector, particularly the life insurance sector.
With the increasing number of cybercrimes, it’s become necessary for insurance agencies to take all of the necessary precautions to protect the data of their policyholders. Using secure technologies helps agencies strengthen their data security and improve recovery time after disruptive incidents.
3. Increased Efficiency
A digital life insurance agent is more efficient than a non-digital one. This is because technology automates most of the manual and time-consuming tasks like establishing workflows, maintaining records, servicing customers, filing paperwork, analyzing operations, etc. This gives agents time to focus on more vital tasks that require human support.
4. Enhanced Customer Satisfaction
Today’s customers want to use modern technologies and are unwilling to wait for weeks to get a simple policy mailed to them. They want to be able to handle everything from their smartphones.
Millennials expect to purchase a policy and manage claims quickly and efficiently.
With the help of the latest technology and software, digital agents can deliver superior customer service. These services include self-service portals and mobile apps that provide policyholders with 24/7 access to necessary information.
Gone are the days when customers had to contact their agents with every small question. Today, online educational tools and chatbots allow agents to respond to client queries promptly. Real-time responses create happy customers who are more likely to stay loyal.
Conclusion
The latest technology in the life insurance sector has not only made agents’ lives easier and less stressful, it’s also made them more efficient.
With the help of life insurance software, such as iLife’s all-in-one platform, agents can now fulfill customer requests, manage policies, and handle claims without breaking a sweat.
So, it’s pretty evident that digital agents are indeed the future of the life insurance sector. To stay relevant in this fast-paced tech-savvy environment, taking your life insurance agency to the digital world can be a game-changer!
