The Power of the People How Partner XE Stays a Perfect Fit
As a company, we cannot evolve without our clients. Each client interactions is an opportunity to grow: to understanding expectations, market forces, and ultimately how we can best serve our partner agencies. Conversations with our support team, Regional Learning Events, Industry Events and work-groups all contribute to making Partner XE its most efficient.
Through these interactions, we gain innovative ideas to enable greater agency effectiveness for each role. This approach enables our clients to grow, add revenue producing roles and never outgrow Partner XE.
At a recent Boston Regional Learning, a client shared their initial skepticism about Partner XE’s growth abilities around commercial lines. When they first invested in the system, the capabilities weren’t quite there…yet. Now, they’ve not only grown at a rate well above the industry average, they’ve kept support staff the same and improved productivity. That’s a great win – for all of us.
It’s one thing to say you want to hear from your clients. It’s a whole other to actually change. We’re intentional about listening and about follow through with a sense of urgency. This creates greater trust and collaboration – acting as a true partner – working with our clients.
We’ll continue to drive innovation through this important partnership. We welcome you to share your agency’s needs with us. Get in touch at [email protected] or 800.747.7005, Option 6.
Many thanks to Arbella Insurance for hosting the Boston Regional Learning!
This past week, the Strategic Insurance Software (SIS) team and I headed east for two Partner XE Regional Learning events in Hartford, CT and Boston, MA. Both events were well attended by our Partner XE community members, some coming from hours away to participate. Attendees enjoyed learning how to maximize their Partner XE experience and collaborating around improvements for future releases.
These events are some of my favorite parts of my job – engaging with and strengthening our independent insurance agency community. Some may question the need to travel and meet in-person. In our ever-connected world, why not just hold a webinar or online meeting? Though there is a time and place for that, the feedback we receive from our Partner XE community members say it all:
“I always appreciate a chance to learn more and get better within the system. We appreciate you guys doing these in-person events.”
“The meeting was well done. I certainly picked up useful information, and I’m glad I made the 2-hour drive.”
“Partner XE continues to get better with each release. Thanks for continuing to meet with us and help us get better as an agency.”
This was our fifth time in Boston and second in Hartford, but each time feels new thanks to the thoughtful ideas we hear from our clients. I look forward to our next Regional Learning in Brandon, WI on May 2nd, where we’ll no doubt gain even more insights from our community in the Midwest.
Want to bring a Regional Learning to your area? Contact us!
I continue to receive positive feedback from last week’s attendees, and each note reaffirms the importance of these in-person meetings. We at SIS are continually inspired by the service-minded independent insurance agencies in the Partner XE community. Thank you to all who shared insights, and I look forward to many meetings to come!
Digital insurance is the future. According to Reuters, over $10 billion were invested in digital insurance technology in the first nine months of 2021 alone.
But, a rise in digital insurance tech use doesn’t mean a decline in demand for people in the industry. J.D. Power found that agencies that increased their “digital offerings” didn’t necessarily see a boost in customer satisfaction. While customers value the speed and efficiency digital tools offer, they also need that human connection.
Human Experts Matter
Almost half of insurance customers say they place “a lot of trust in a human advisor” when filing a claim. Only 12% said they trusted automated services in the same circumstances. When it comes to such emotionally charged services, customers want to speak to someone who can relate to them and provide expert advice specific to their case.
The expertise element of those interactions matters, too. Microsoft’s Global State of Customer Service found that 35% of customers said “an agent’s lack of knowledge was the most frustrating” element of their agency’s service. The same survey found that 90% of customers place “a high value on the quality of customer service” they receive. While talking to a real person is valuable, that person must also be knowledgeable.
Whether a customer is submitting a major claim,
finding the best coverage for a new home or business, or gaining insurance
coverage for the first time, automation can only take them so far. In these cases,
and many others, customers feel more at ease and confident talking with someone
who can navigate outside an automated path. These are sometimes scary or
confusing moments for your customers, and a chatbot or app can’t provide the
comfort and care required to address their needs appropriately.
Your Team’s Training Matters
Your agency team needs to regularly engage in
training and continued education to meet and exceed expectations. Keep yourself
prepared by:
Providing Mentorship: New hires and younger agents are still building their expertise. Help them prepare by providing mentorship from more tenured agents.
Publicizing Your Expertise: Make it known that you know what you’re doing in your community. Hold webinars, host info sessions with local businesses, and offer free consultations to spread awareness of your ability to help individuals navigate complex situations.
Continue to Grow in Your Expertise with Partner Platform
We’ve heard from dozens of our agencies and partners about the value of expertise and how it will set independent agencies apart in the future. That’s why we invest in the technology and training needed to keep our Partner Platform agencies more than prepared.
Hear from our agency partners about how the Partner Platform system and community continue to support their agency’s growth. And get in touch to start the conversation about how to equip your agency for the future. Request a demo here to get started today.
The evolution of sales as a software (SaaS) has
dramatically changed the software landscape. Thanks to their easy-to-integrate
nature, more businesses use SaaS applications over desktop software to improve
operations. A 2019 report found that companies with less than 50 employees had,
on average, 47 SaaS
apps in use across their organization.
This SaaS revolution takes shape in the insurance industry with insurtech. Based in SaaS, insurtech provides streamlined operations through integrated solutions. While agency owners recognize the benefit, many ask how to incorporate insurtech – do they implore their management system providers or take on the integrations themselves? The answer lies in what it is you as an owner want for your agency.
Essential Insurtech Integration Your AMS Should Include
There are a handful of integrations that your
management system provider should offer in 2021. But, before we get to the
list, the first element you should evaluate is your management system hosting.
To allow for future integrations, you need a cloud-based management system. When
your AMS runs off the cloud, you can build on it with little to no
infrastructure interruption.
From there, you can add on essential insurtech
integrations that provide:
Digital billing and payment
Esignature
Sales and marketing integrations (CRM and
marketing automation)
Comparison quoting
Each of these integrations is one piece of the new
digital insurance puzzle. Customers expect more to happen via digital, and they’ll
move to a new agency if they don’t see it.
Beyond the Essential Integrations: When to Ask
The above list should be your “make or break”
items: if your management system provider doesn’t have these or isn’t willing
to include them in your AMS experience, start shopping. If you find other
applications useful, think about what you want your processes and data flow to
look like before you talk to your provider about integrations.
If you want all your data to live in your
management system and integrate into that one hub, talk integration with your
provider. If you’re more interested in data sharing but don’t need a central
hub, consider how you can work with the insurtech provider to make it easier
for their tool to talk with your AMS. Both
paths break down data silos and bring more data integration. It all depends
on what you and your team prefer.
Looking Towards the Future
As you consider the best path for your agency, also
reflect on your relationship with your agency management system provider. Do
you feel comfortable coming to them with your requests? Do you feel like your
requests are heard? If you’re not answering “yes!” to both, you need
to rethink if you’re with the right system and team.
As a true partner to our Partner Platform
agencies, we at SIS focus on our agencies and their customers’ needs. Through
our regular Regional Learnings, monthly webinars, annual user conference, and
always-open lines of communication, we
stay connected with the Partner Platform community to continue to add to
our list
of insurtech Partner Allies, equipping our community for the challenges and
opportunities of today and tomorrow.
“We saw a company that reminded us of our agency.”
This is a sentiment we
often hear from our Partner Platform agencies – that they saw themselves in
our team and us. That’s what makes us more than a provider but a real partner
with each agency we serve.
The community we created echoes that partnership: it’s fueled by innovative collaborators in our agency, technology, and industry partners. With their help, we’re able to stay ahead of the curve and equip our Partner Platform agency management system and insurance CRM to harness future opportunities while providing the service and care our agency customers appreciate today.
Our innovative community includes:
The Partner Platform User Community
Our Partner
Platform User Community is at the heart of everything we do. Partner
Platform users stay engaged with one another through Regional Learning
Workshops, monthly webinars, and access to always available online
resources. We address frequently asked questions in each arena and hear agency
insights on improving operations and maximizing recent system enhancements and
updates.
The Partner Platform Board
As part of the Partner Platform User Community, we
have ten individuals representing agencies across the country on our Partner Platform Board. This Board
meets quarterly, once in person and three times virtually. Each meeting covers industry
events, direction of the Partner Platform system, common agency issues, and
how we can continue collaborating to improve every aspect of agency life.
This regular, direct input from agency owners and operational managers is
critical to shaping the Partner Platform system.
Partner Allies
To best address our Partner Platform agencies’
needs, we need the best technology partnerships. That’s when we turn
to our Partner Allies, a group of technology partners that bring innovation
and expertise to the Partner Platform system.
Each Partner Ally connection is born out of a
relationship. Whether we’re connected by a Partner Platform agency, another
Partner Ally, or other means, each Partner Ally comes to us because they have a
unique value to our agencies. Aspects of the relationship include technical
discussions, improving how we support our shared clients and discussing
go-to-market strategies.
Partner Platform Industry Partners
Along with our technical-focused Partner Allies, we
also foster strong connections with valuable
insurance industry groups. These groups are constantly looking to the
future and have a first-hand view of coming agency challenges and
opportunities. We look to these industry partners for input and advice on improving
customer experience, streamlining operations, and keeping our Partner Platform
agencies equipped for the future.
We are active members of ACT, AUGIE, ACORD,
IVANS, and many other industry groups that bring agents, vendors, and
carriers together to promote standards and the betterment of the industry.
Discover More About Our Community Today
If there’s one thing we’ve learned about our Partner
Platform Community, it’s that the more perspectives we have, the better we can
be. Learn more about how you can add your agency’s voice to our community: get in touch at 800.747.7005,
Option 6, or [email protected].
Digital insurance options opened up new markets and improved communications for agencies worldwide. However, this growth goes hand-in-hand with the rise in cyberattacks over the past few years.
Recent reports estimated cyberattacks increased between 200% and 300% in 2020 and are doubling again. Similarly, ransoms from cyberattacks are rising by between 50% and 80%, making it a more attractive scheme for cybercriminals.
Labor market changes contribute to increased cyber-vulnerability as well. More people are working remotely, and their home offices may not have the same security measures as their company. Similarly, the recent labor shortage means companies are hiring more people more often and, in their haste to fill positions, may not provide ample cybersecurity training for new hires.
Independent insurance agencies are starting to feel the heat. Though independent agencies provide a level of personalized service and care big names never can, insurtech’s sophisticated insurance software is beginning to bridge the gap.
According to experts at PropertyCasualty360, “With increased competition from insurtechs and rising labor costs, in order to stay competitive, companies need to…provide a seamless omnichannel experience.” That means broadening how you’re serving your customers, keeping up with evolving customer demands.
Do you have the right insurance software to meet these growing customer needs?
Digital insurance is the future. According to Reuters, over $10 billion were invested in digital insurance technology in the first nine months of 2021 alone.
But, a rise in digital insurance tech use doesn’t mean a decline in demand for people in the industry. J.D. Power found that agencies that increased their “digital offerings” didn’t necessarily see a boost in customer satisfaction. While customers value the speed and efficiency digital tools offer, they also need that human connection.
