Agency Operations, Community
Independent insurance agents get a vote of trustworthiness from small business owners
We’d like to share with you a few excerpts from a letter we recently received from ACT Executive Director, Jeff Yates that speaks to the level of trust small business owners have for independent insurance agents and highlights what factors are most important to them in working with an agent.
The figures Yates references are taken from a recent survey of 501 small business owners (with less than 30 employees) conducted by The Pert Group and sponsored by Hanover Insurance.
On Trust:
A majority of the small business owners surveyed found their insurance agents to be trustworthy – the highest percentage of any of the types of financial services firm identified: 48% more than banks, 97% more than healthcare companies, and 295% more than stock brokers.
Those surveyed trust P&C carriers: 25% more than banks, 66% more than healthcare companies and 150% more than stock brokers.
On Overall Influence Factors:
Small business owners said that trustworthiness was the most important factor they look for from their property insurance agents. The top factors were:
- Trustworthiness 86%
- Competitive pricing 82%
- Responsiveness 81%
- Value 79%
The above information is good news for independent agents and good news for SIS as well because we work hard empower your agents and customer service reps with technology that can improve their responsiveness, help them track conversations and emails, facilitate personalized mailings and build a foundation of trust with their clients and prospects.
Features like Search Navigation, Contact and Client and Policy Management for example, put the information you and your reps need at your fingertips, enabling you to respond to your customers quickly and efficiently. Outlook integration streamlines your workflow by pulling your Outlook communications into your agency management system. New streamlined features include the ability to sync recurring appointments, add an entire email folder to Partner XE at one time, tag emails with a category when bringing into XE and more.
As one of our clients, Kevin O*Brien, so aptly put it, “Independent insurance agencies are sales and service organizations. When a system takes care of those little tasks it gives us the time we need to interact with current and potential clients. The key is having the right agency management system that lets us interact more with clients – like Partner XE does.”
We are consistently working on enhancements to make sure your Partner XE agency management system enables you to give the highest level of service possible and appreciate our clients’ feedback. If you would like to get involved in one of the National Association of SIS Partner Agents (NASPA) work groups to provide the SIS team with user input and suggestions on on-going product enhancements please contact John Heinszat [email protected] or(636) 946-2266.
Choosing an Agency Management System
How to Choose the Right Insurance Agency Management System
At SIS we realize that everyone has choices when it comes to deciding which insurance agency management system will best fill their needs. There are online systems and desktop systems. There are Citrix-based systems and Windows-based systems. There are systems that are high on functionality but low on usability and others that may not have all the bells and whistles but accomplish more because the features are easier to use. There are systems that work only up until a point and others that are scalable (more…)
Agency Operations, Marketing
Generate Insurance Leads to Grow Your Book of Business
Renew, Upsell, Cross Sell & Find New Clients
As an insurance professional you know you need to constantly work to increase your book of business. You know it is far more profitable to maintain existing accounts and grow your business from within your current client base. You also know that attrition is a fact of life and, oftentimes, due to no fault of your own clients are wooed away to “greener pastures.” Marketing strategies, therefore, need to be geared at renewing and upgrading existing accounts, cross selling to current customers and getting new business to replace what you lose due to attrition. Generating insurance leads, whether through inbound web leads, networking, social media, direct mail or other means is an important step in that process.
Direct Mail
In a recent survey of independent insurance agents across the nation, it was determined that direct mail was the preferred marketing channel for agencies utilizing an agency management system. After direct mail came email, radio/newspaper advertising and social media respectively.
Because direct mail was so high on the list, today’s focus will be on how best to utilize direct mail to drive inbound inquiries. Note, we said inquiries, not sales. Direct mail won’t sell your product, but, done correctly, it will open doors for you to do what you do best – help prospects identify the coverage your company provides that best suits their needs.
Postcards
Used effectively, post cards in particular can be excellent conversation starters when it comes to new business opportunities. They are also a great way to keep your name in front of current clients with timely reminders to renew; information on your services they aren’t currently taking advantage of (to cross-sell); information on expanded programs (upgrade), requests (and incentives) for referrals and more.
Benefits behind generating insurance leads with postcards include:
- They stand out in a stack of mail.
- People ACTUALLY READ THEM (not so easy to hit the “delete” button)
- They’re TANGIBLE (how many billboard ads or Facebook posts do you see tacked on the fridge?)
- They’re AFFORDABLE
Targeting
Use your agency management system to identify cross selling and up selling opportunities:
Use the marketing features in your Partner XE agency management system to help you identify renew, cross-sell and upgrade opportunities and use a reputable list provider who “really gets” the needs of an independent insurance agent to help you generate new business lists.
For mailings designed to generate new clients, be sure to target and mail to a very specific demographic of households who match the demographic of your best customers. Look at things like household income, home value, geographical location, marital status and more to pinpoint your best potential customers.
You will get a much higher return on your investment if you do the homework up front.
Tracking
Also, remember to be consistent in your efforts, track your results and reevaluate periodically. When it comes to direct mail marketing, “one and done” cannot be an option. There are numerous studies out there which talk about the number of times someone has to see your message before they take action. Give your plan time to work before you pull the brakes on it or switch directions.
Agency Operations, Marketing
What insurance agent wouldn’t rather follow up on a warm lead than a cold one? Not only is it an easier call to make because you go into the call knowing the prospect has indicated an interest in your product, but you also go into it knowing you have a higher chance of success.
Because of that, lead generation, or LeadGen, (more…)
Agency Management System Best Practices, Marketing
Using Your Partner XE Agency Management System to Market Effectively
In a perfect world, clients would never leave for greener pastures. Instead, they would continuously refer your independent insurance agency to friends and neighbors who would be on the phone, signing with you immediately. In a perfect world you would never have to spend, time, effort or money on marketing your business.
Realistically, this is rarely the case.
In April we talked about targeting prospects who match the profiles of your best customer and about creating educational marketing content and messaging relevant to that market. Just as important is consistency. It has oft been reported that a prospect needs to see or hear your message up to seven times before they decide to take action.
Because of that it is important to not only stay on top of your sales and marketing efforts, but to do so in a strategic fashion.
Your Partner XE agency management system is a great tool to help you execute your marketing strategy.
One of the best marketing features within your Partner XE agency management system is the ability to track conversations and set reminders. If, for example, you want to run a targeted drip marketing campaign you can use the system to create your list, send the mailings, set up reminders so that you stay on track and your mailings go out at set intervals and set reminders for follow up calls.
In addition, with the release of version 1.6 you now have direct access to our direct mail partner, Allegiant Marketing Group. AMG offers pre-formatted insurance marketing campaigns at a special rate for Partner XE customers. It is our hope that easy access to this reputable and proven direct mail resource will assist you in streamlining your marketing efforts.
Click Here for insight on executing an affordable, effective marketing campaign.
If you need assistance in maximizing the marketing potential of your Partner XE agency management system, just give us a call at 800.747.7005, Option 2.
