Good partners and partnerships are critical to success in any business, but it’s crucial in technology where the pace of change and breadth of innovation is high. Insurance tech is growing fast, and it’s critical to look to progressive partners to keep up with the pace.
Why Partnerships Matter
Innovations happen everywhere, every day. Things like electric cars, an increase in IoT, the interconnectedness of tech systems in healthcare and our own homes, and other innovations significantly impact our industry. These tech advances inform how insurers can gain data to inform policies and process claims.
The pace of change is exceptionally high in this digital age. No matter how good your team is, you can’t do everything, and finding the right partner with the right complementary specialty can make all the difference in getting your customers what they need.
What We Look for in Our Partnerships
Who you partner with is incredibly important. Just as you take time to find the right employees, you need to be discerning when working with outside organizations.
When we at Partner Platform know we need a new partner in a specific arena, we look for Partner Allies that commit to innovation and excellent client experience. There are plenty of potential solutions out there, but we look for ones that simplify the experience for the customer and the effort needed to deliver it. That’s what innovation means to us – a total solution that is simple to use and easy to implement.
In the end, our partnerships are about shared values. Those core values are a shared perspective on client success and how easy it is for the client to implement something new in their everyday job. If the solutions aren’t easy or super compelling, it’s not going to happen throughout the agency.
Who We’re Partnering with Today
We regularly add to our insurtech partnerships, growing our Partner Allies list. Some of our stand-out partnerships include:
Semsee Comparative Rater: helps streamline the details of the sales process that frequently slow things down, such as packaging coverages, obtaining prices, and delivering quotes or proposals.
BlueJay Reviews: ensures our agencies have a positive online reputation and maximizes the value of agency marketing spend.
Rpost/RSign: provides email security as one of our longest-standing Partner Allies with fast, easy, and secure e-signature and encrypted email.
Lightspeed Voice VOIP: fosters a tight communication integration, including a pop-up screen when a client calls an agency.
Where We’re Headed with Partner Platform
Our goal is to have the best agency management system suite for today and tomorrow. A stagnant system does nothing for our customers in a world of quick innovation and rapid advances. That’s why we’re focused on growing our partnerships to better our systems, bringing the best in class to our Partner Platform agencies every day.
Find out what our Partner agencies have to say about their experiences on our Client Stories page, or view a demo to see the system for yourself. We look forward to growing our Partner Platform community and hope you’ll join us.
Innovation is key to longevity in any industry, and
the insurance industry is no different. Insurance revolves around people and
relationships, making it an inherently dynamic field.
Digital insurance demands seem to change by the
day to keep up with evolving customer and agency needs. That’s why we at
Partner Platform partner with various tech partners to stay up to date with
changing conditions. We as an organization can only be experts in so many
areas, so we recognize the need to partner with outside specialists to fill our
gaps.
We work with industry groups and tech companies to cover areas like digital document processing and cyber security, among others. Below are a few of our recent posts highlighting these valuable tech partnerships.
Our Digital Insurance Partner Posts
Remote Work and Agency Cyber Security: During the COVID-19 lockdowns, all our agencies and their customers needed to move to remote work rapidly. We leaned on our tech partnership with Archway Computer and the workflow expertise of consultant Mary Belka to equip our Partner Platform agencies – fast. In this post, we recap an impactful webinar focused on how to keep agency data safe during remote work and best practices for external and internal communications during that time.
Business Insights Partner Exago BI: The value of data and analytics has skyrocketed over the past few years, causing the Partner Platform team to seek a business insights partner to help our agencies stay well-equipped. Exago BI offers both canned and custom reporting for our agencies, allowing them to gain, manipulate, and analyze agency data easily.
Encrypted Email and eSignature Partner RPost: We’ve worked with digital document processing partner RPost for years, giving our Partner Platform agencies access to seamless and secure document sending, signing, and processing. What began as a HIPPA-compliant secure email service has grown into a fully digital, encrypted document processing system.
IT and Cyber Security Partner Archway Computer: Our partnership with Archway Computing is one of our longest and most valuable. The IT professionals at Archway have specialized in helping insurance agencies install, run, and update essential software for decades. The cyber security services Archway provides for our Partner Platform agencies are invaluable.
VoIP Partner Lightspeed Voice: One of our most recent partnerships is Lightspeed Voice, a VoIP provider that seamlessly integrates with our Partner Platform agency management system. Lightspeed brings a live switchboard, call recording, and real-time performance metrics, among other benefits.
Marketing Partner BlueJay Reviews:Online reputations are extremely important to any business or organization today. Every agency has an online reputation, regardless of whether they investigate or manage it. Our partner BlueJay Reviews focuses on online reputation management and makes it easy for our Partner Platform agencies to solicit and manage their online reviews, bolstering their reputation.
Find Out More About Our Tech Partnerships
These partners have been invaluable as we strive to improve our Partner Platform agency management suite every day. Especially during the COVID-19 lockdowns, we relied heavily on these partners to help us quickly adapt and provide secure, remote access for our agencies and their customers alike.
Insurance tech advancements are making everyday processes faster and more efficient, and customers are demanding more digital interactions than ever before. Despite the benefits and increasing customer demand for insurance tech, your team may be hesitant to adopt new technology.
This hesitancy is understandable. Change is
difficult, and introducing a new process or system to an individual’s workflow
can be frustrating. But, the benefits of integrating insurance tech into your
agency far outweigh the challenges of overcoming change.
The best way to help your team adapt to new tech is to provide ample training. When agencies transition to our Partner Platform agency management system suite, we start with a Project Plan outlining what’s to come over the next few weeks of transition. That plan always begins with training. We provide staff-wide training, followed by targeted sessions for individual employees or groups before and after the system goes live.
Beyond initial training, you should also have ongoing support via easy to locate and understand documentation and from an internal or external mentor. In our Partner Platform agencies, we aim to have a point-person in the agency who can answer questions. However, we know there will be issues that only we, the tech partner, can answer and are always available with hands-on support. Plus, we provide online guides and videos agencies can access 24/7 to get a refresher on certain aspects of the system.
2. Be transparent and empathetic
One of the worst things you can do is spring new technology
on your team without explanation or warning. Instead, get your team involved in
the process. Have staff members evaluate potential new systems and tools and
ask for their feedback. Once you have new tech to introduce, talk about how to integrate
it into each team member’s workflows. Getting buy-in from your staff in these
ways makes a big difference.
Along with transparency, demonstrate empathy for your team. Acknowledge the transition process and its challenges. Assure them it’s okay if things slow down while they’re learning. Encourage them to see change as an opportunity rather than a challenge, inspiring a growth mindset that will make them more open to new things in the future.
3. Trickle in and check in
There are dozens of tech advances in the market, but your agency should only adopt one at a time. Prioritize what’s most valuable or easiest to adapt to, depending on what works best for your agency. If it’s your first new tech in a while, it may be better to start with a tool that’s a minor interruption before moving to something as significant as a new agency management system.
As you introduce new systems and tools, continually check-in with your team. Get their opinion about how the tech is working and identify any issues. Keep in mind that some of your staff may adjust faster than others, and you need to scaffold support to ensure everyone feels comfortable with all your insurance tech.
4. Adapt your hiring
When it comes time to hire someone new, consider their familiarity and comfort with technology. This doesn’t mean you need to hire only people who are a tech wiz, but it’s helpful to build up your roster of individuals who have a high comfort level with technology. Beyond tech comfort, you can also screen for adaptability and a willingness to try new things. Flexibility is a valuable asset in any area.
Check Out Some of Our Latest Tech Integrations
See more on Partner Platform’s tech integrations on our Partner Allies page. Some recent additions include:
Commercial Lines Raters
Semsee
Digital Payment Software
ePay Policy
Online Reputation Management
Blue Jay Reviews
VOIP
Lightspeed Voice
Esignature
RSign
FormStack
Digital Forms/Supplemental Apps
AppEase
We Make Tech Transitions Easy at Partner Platform
At Partner Platform, we spend a lot of our time investing in training for all our Partner Platform agencies. We know that investment in helping all agency members fully grasp how to navigate our management system suite is critical – and we designed the suite to be intuitive for just that reason.
Hear from our agencies on their training experiences here. And, get in touch today to find out how we can help your team get equipped with our user-friendly, customizable management system experience. Contact us at [email protected] or 800.747.7005, Option 6, to find out more.
The insurance industry – like others today – is understaffed. In late 2021, an insurance labor market study showed that 53% of agencies planned to “aggressively hire” within 12 months to fill vacancies. The same study also showed that it’s becoming increasingly difficult to fill open positions. As an owner, your insurance agency management relies on knowledgeable staff, but it can be challenging to fill positions in today’s market.
With hiring season just around the corner, your agency needs to focus on how to recruit new talent for your team. Past tactics may no longer work on a younger, more tech-driven workforce. It’s time to expand your outreach, position insurance differently, and look for diverse qualities to keep your agency growing.
Updating Your Agency Recruitment
Over the last two years, employee expectations changed significantly due to the COVID-19 disruption. Yet, there were changes in the air even before 2020. The growing Millennial and Gen Z workforce have different expectations than their predecessors. A few areas your agency can highlight to increase recruitment include:
1. Offer greater work flexibility
The COVID-19 shutdowns resulted in an explosion of new work environments. For many, working from home became, and remains, the norm. New hires now expect remote work options, whether one day a week or more. A recent survey showed that 83% of workers said they “prefer hybrid working arrangements,” meaning they would like the option to work from home regularly. You don’t need to promise full-time remote work, but giving some work from home time as an option is becoming standard.
2. Embrace technology
Look back at our past posts and you’ll see insurtech is a large part of modern insurance agency management, especially when it comes to customer needs and expectations. Job seekers are also looking for tech-savvy companies. Millennials and Gen Z grew up using tech and expect to see it in their workplace. Plus, you need team members who intuitively understand how tech works to keep your agency up-to-speed.
3. Highlight opportunities to grow
One thing that hasn’t changed over the years is
that new hires expect growth opportunities in any organization. The onus is on
you, the employer, to ensure these opportunities are made clear and fostered
from day one.
Along with highlighting growth opportunities, you
should foster them through one-on-one mentorship and by funding continuing
education or accreditation courses. The more you put into helping your
employees gain knowledge and experience, the better prepared you’ll be as more
seasoned team members retire.
4. Look outside typical hiring avenues
Many agencies post jobs and recruit directly to organizations that historically produce individuals with industry experience looking for insurance jobs. However, savvy agencies are now looking for specific skills in areas like data management rather than insurance experience or interest. Pay attention to what skills you need on your team (customer service, data, sales) and look for experience in those areas. With time, almost anyone can learn the specifics of the insurance industry, but some skills in service, technology, and sales cannot be taught.
5. Reframe the industry
Many of today’s workforce are Millennials and Gen
Z individuals interested in working for innovative organizations and creating a
positive impact in the world. The insurance industry does both, but it’s not
top of mind for many applicants. Work to position each job posting around what
your agency does to support communities, look out for individuals in need and advance
tech use and applications.
6. Model and support balance
Reasonable work/life balance is incredibly valuable to today’s workforce. Model that balance within your agency, especially as an owner or manager. Offering vacation days is one thing – encouraging your employees to take time off is another. Show potential new hires (and current staff) that mental and physical wellbeing matters to you as an agency. No more 6 am emails and 6 pm calls! Make hard lines between work and personal to keep your team happy, healthy, and productive.
Focusing on Growth for Years to Come
On the Partner Platform team, we also pay attention
to these changes in the industry. It’s part of our forward-thinking to keep our
Partner Agencies well equipped for whatever the future holds. And, we put the
same thought into who we hire and partner with to stay ahead of trends and
create innovative, collaborative environments in our office and beyond.
As the insurance industry grows more competitive, the particulars of your specific insurance agency management will make your business stand out. Those particulars could be location proximity, ease of doing business, or even something as simple as how your website looks. Though price still matters, changes in cost can only go so far.
The true test of what makes your agency the best choice is the overall customer experience. Seemingly small touches that make each interaction easier, more personable, and leave each customer with a positive feeling have a real impact. Today it’s about more than the best price and the latest tech; it’s how you use these tools to empower, differentiate, and create the best experience in your agency.
Stick with the Fundamentals
Whether your agency has been around for five years or 50, there are some fundamental core elements your customers value. Those are:
Knowledge
Service
Relationship
An old adage says, “You lose a customer for the same reason you won them.” These three areas are those reasons: your agency stands out because of your niche knowledge, speedy and effective service, and the personal relationships you build with customers. Big-name providers simply can’t offer these to the same degree as you, an independent agent. Focus on holding fast to these fundamentals, and you’ll gain more customers than you lose.
Blend Tech with Human Interactions
One of the biggest mistakes newer agencies make these days is to rely too much on technology to get work done. Though insurtech has its place in increasing efficiency, it doesn’t replace the power of human interactions.
Focus on finding that balance between using tech
for its speed and accuracy while keeping human-driven avenues open for service
and support. Look to tech to streamline routine claims and policy processing,
but leave space for in-person meetings or phone calls to walk customers through
more complex issues. The tech/human balance is an essential chord to strike to
keep your agency growing.
Grow Your Expertise
Your deep knowledge of the industry and its nuances is why customers choose you over big-name providers. However, the insurance industry is changing due to technological advances, new ways of doing business, and changes in regulations. You need to keep your team up to date on the latest in the industry with regular continuing education sessions and by gaining additional professional accreditations.
Streamline and Personalize Communications
If your agency has been around for a while, you likely grasp what it means to personalize your communications. Yet, it may become more difficult to keep up that personal touch in your usual ways as you grow. Tech can help by leveraging data to customize your email, social media, and text outreach. Look into tools like marketing automation and an integrated customer relationship management (CRM) to get the personal connection and efficiency you need.
Expand Ways to Get Service and Support
Your customers’ service experience is vital to your agency’s reputation. As a new generation of individuals enters the insurance market, they have different service expectations. Though all your customers will want personalization and a human-driven experience, they’ll also want the option to communicate in different ways. Expand your communication offerings with texting, a branded agency app, an easy-to-navigate website, and an online customer portal. The more choices customers have when it comes to service, the better.
Stay Nimble to Stay Relevant
In a recent conversation with one of our Partner Platform agencies, we talked about the importance of being flexible in order to respond to unexpected changes in the market. Disruptors like the COVID-19 pandemic and the 2008 financial crisis can be hard to prepare for, but you can react quickly if your agency has a culture of trust and flexibility.
Equipping your agency with more tech efficiency is
part of that nimbleness. When you have systems that can automatically operate
without much effort, you create the time and space to think about what
adjustments you need and how to make them happen – fast. Large, complex
agencies simply cannot make the quick adjustments your agency can to provide speedy,
personal service and communications during uncertainty.
Partner Platform is the Independent Agency’s System
When we created our Partner Platform agency management system suite, we designed it with the independent agency in mind. The easy-to-navigate system has room for personalization bolstered with the latest tech efficiency. We regularly consult with our Partner Platform Community to find ways to make our system work better for our independent agents.
Discover more about our system, community, and commitment to independent agents. Visit us at sispartnerplatform.com and get in touch with our team today.
Texting has quickly become one of the most popular and efficient pieces of insurance tech. Almost 90% of consumers say they’d like to be able to text businesses. It improves communication by making it easier to get in touch and get a response from customers and prospects, streamlining outreach with automation and integration into agency systems. Studies show that 98% of text messages are read, compared to 20-30% of emails and phone calls.
Texting is one of the tools all your team members can use, from producers to CSRs, as it speeds up communications and helps your agency move.
Social media marketing is nothing new in the larger marketing industry but may be novel for independent insurance agencies. This tool is something all agencies should include in their insurance agency marketing strategy for several reasons. Social media can help your agency show off your expertise, build trust with customers and prospects, and help you better engage your customer base. For independent agencies, social media is an excellent tool to amplify their valuable local and personal connections with their communities.
Whether your agency is on social media or not, you’re being discussed in the social media space. Join in that conversation! Get your agency started by following a few simple dos and don’ts in the social media sphere.
The insurance industry isn’t known for embracing change quickly: maintaining the status quo can seem easier than adapting new insurance tech. Despite this, insurance agencies tend to face a greater cybersecurity threat than other small to medium-sized businesses due to the sensitive and valuable data they collect from numerous avenues.
With cyberattacks on the rise, and the COVID-19 pandemic forcing many agencies to leave the traditional way of doing things behind, the need for insurers to maintain cyber regulation and compliance has never been greater.
With this in mind, here are four ways insurance agencies can secure their insurance tech to protect their business, employees, and clients.
