The remedy is to encourage and promote the strengthening of insurer and agent relationships. Carriers that invest in their agent experience will see benefits such as:
- Reduced operational costs and complexity
- Improved sales productivity
- Increased profit margins
So then what can insurance carriers do to nurture and grow agent loyalty and relationships? This whitepaper covers 5 strategies for insurers to implement:
- Improve communications to empower agents to being a key contributor to the growth of the business.
- Invest in agent-friendly digital tools that make it easier to serve policyholders.
- Provide digital marketing support to give agents the resources they need to balance new customer acquisition and cross-selling.
- Leverage data to better understand what agents need and how to optimize their performance.
- Look into different compensation frameworks that reward agents by providing better services or tools.