Insurance industry may not be living up to expectations

California health insurance industry agent

Insurance agents and brokers are falling behind when it comes to meeting consumer expectations

The insurance industry may be having a problem with providing consumers with a favorable experience, according to a report from Market Insight Group and Applied Systems. The report shows that independent insurance agents and brokers are failing to provide their clients with an experience that they have come to expect, which is leading to a disconnect between consumers and the insurance industry. A poor experience could lead consumers to seek coverage from other companies.

Report highlights the lack of effective engagement coming from agents and brokers

The report, which is based on the markets in the United Kingdom and the United States, suggests that independent agents and brokers are failing to understand the expectations of modern consumers. The report also suggests that these insurance industry professionals do not have the resources they need to accommodate modern expectations. Approximately 90% of agents in North America claimed that email and physical meetings as the best way to engage consumers, but the report suggests that face-to-face meetings and email correspondence may no longer be the ideal way to connect with clients.

Consumers enjoy the ability to chose how they interact with agents

California insurance agentConsumers appear to favor the ability to choose how they interact with their insurance agents. Many consumers are beginning to rely more heavily on their mobile devices and social media, which could be a new channel of engagement for independent agents and brokers. The report shows that consumers are becoming more interested in click-to-chat and click-to-call features, which put them in direct communication with an insurance industry professional, either through text or a phone call.

Insurance industry may need to become more mobile-centric

Insurance agents may have to revise their approach when it comes to a new generation of consumers. With mobile technology palying a larger role in the insurance industry, agents that do not become more mobile-centric could risk losing out on promising opportunities in the future. The insurance industry is beginning to become more conscious of mobile consumers and their expectations which is leading to changes in how companies and their representatives engage consumers.

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