In the midst of constant market changes, insurers need to leverage a key player in their arsenals: agents. However, these market changes also threaten the vitality of agent and carrier engagement and collaboration.
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.
