Approximately 43% of all cyberattacks are on small businesses, and, in 2020, 12% were attributed to finance and insurance industries. In the age of digital insurance, your independent agency is part of that vulnerable small business group. And, this threat increased since the COVID-19 pandemic: researchers report a 30% increase in cyber-security breaches since the pandemic hit.
As a particularly vulnerable industry, insurance agencies must be mindful. The volume of files processed daily and the sensitive information contained in each mean insurance agencies are increasingly at risk. Yet, KPMG found that only 43% of insurance executives said their organization was protected.
Is your agency taking cyber attacks seriously? Here are some ways you can start.
The COVID-19 pandemic forced us to change many elements of our lives. For businesses, it created a quickening effect on plans to increase tech use and move to digital. With those changes, many agencies turned to their insurance websites as hubs for their business, whether or not their site was optimized to take on that level of responsibility.
As your agency evaluates how to shift to the “new normal,” consider these insurance website statistics and what they mean for your agency.
Your agency management system is among the most critical pieces of technology you use for your insurance software. Every day you rely on your agency management system to create certificates, write new business, and process claims, among other essential functions.
With such a valuable piece of technology, you want more than just a vendor or provider for your agency management system. You need a partner – a partner who focuses on long-term, mutual success. That’s what we are for our Partner Platform agencies – someone in the trenches with them and working for them to make their business run smoother.
We continue to explore the story behind our insurance agency software partners. In this post, we talked with independent insurance veteran Cheryl Koch. Cheryl founded Agency Management Resource Group to help independent agencies “achieve their goals and dreams.” With that motivation in common, we work with Cheryl and her team to educate and equip agencies for success.
When she was introduced to the Partner Platform team, Cheryl Koch saw an opportunity. Equipped with a wealth of training content for independent agencies, she knew she had just what so many Partner Platform agencies needed: personalized education. After holding our first “Ultimate Producer School” with Cheryl and her team, it was clear her expertise was the perfect fit.
I spoke with Cheryl to hear about her wealth of experience in the industry and how she connected with the Partner Platform community.
We’re almost halfway through the year, and a lot has changed since January. At this mid-year mark, we took a look back at some of our most popular posts and put together a list of the essentials. These posts can help hone your insurance marketing strategies for the remainder of the year and beyond.
Posts to Improve Service
• What Customers Want and the Insurance Software to Get It (view post)
• What Insurance Tech Do Agency Customers Want (view post)
• Digital Insurance Customer Service: Keeping it Personal (view post)
Insurance is now digital insurance. The same goes for almost every consumer sector – from banking to healthcare and beyond, most consumers are finding what they need online.
But just because people are searching for what they need online doesn’t mean they only make purchases via digital means. Customers still want that personal connection, they just want to get business done faster.
This is the conundrum of the independent insurance agency – responding quickly, yet personally, to prospects and customers. These statistics tell that story.
When it comes to your insurance prospects and customers, there are three main areas to focus on:
1. Improving ease and speed of service
2. Personalizing prospect and customer experience
3. Gaining data for expert advice
Each of these areas answers the question, “what do insurance customers want?”. Are you leveraging the right insurance sales software and processes to respond to these needs?
It may not be what it’s always been – and it may surprise you how preferences have changed. Advancements in insurance tech and changes in purchasing patterns mean your current and prospective customers may be looking for something more. Though you’ll have variation among different generations, there are commonalities within what your customers are looking for to get excellent service.
Next in our series on what’s behind our Partner Platform insurance agency software community is the management and operations consulting group, Eisenhart Consulting Group. For over ten years, we’ve been lucky to work with owner Mary Belka and her team.
Mary Belka, CEO and founder of Eisenhart Consulting Group, has been part of the Partner Allies team for more than a decade. When she was first introduced to the Partner Platform system, she was impressed by the hands-on, personalized service the Partner Platform team provided to one of her clients. Since then, a mutual dedication to personalized service has made Partner Platform and Eisenhart Consulting the perfect team for our independent agency clients.
I spoke with Mary to talk about how she came to meet the Partner team, the unique and transformational service she brings to Partner agencies, and how she prepares agencies for the future.
We strive to provide the best insurance agency software to our Partner Platform agencies, but we don’t have all the answers on our own. That’s where our trusted technology partners, our Partner Allies, come in. In this series, we get to know more about our industry partners and how they bring innovation and expertise to the Partner Platform system.
Based in Nokomis, FL, Lightspeed Voice® is a VoIP, cloud-based IP telephone provider founded in 2009 to provide the insurance industry with reliable VoIP and client relationship management (CRM) solutions.
Lightspeed differentiates through high-touch and high-service, which aligns nicely with Partner Platform’s approach – and is also true for the way our independent agency clients sell. Both Partner Platform and Lightspeed strive to be hands-on, building relationships with clients just as our independent agents do with their customers.
I talked with Lightspeed’s VP of Sales and Marketing, Steve Mohr, about the partnership.