5 Trends That Will Impact Independent Agencies in 2019

A new year is already unfolding, and with it, new opportunities are opening up for independent insurance agencies to differentiate themselves. These five trends are going to have an impact on insurance in 2019. Capitalize on them to make this your best year yet.

Personalization remains a top priority

From online touchpoints to personalized pricing, independent insurance agencies will strive to make each policyholder feel like the only policyholder. This may sound like a daunting challenge, but personal data and automation will make it much easier to establish strong connections with clients. From the first interaction with a chatbot on your website to automated annual reviews, simple technology tricks allow you to create more meaningful interactions while freeing up time for agents to make contact the old fashioned way via phone calls and handwritten notes.

Predictive analytics streamline sales

Big Data and automation won’t just make insurance more personal. They also make it faster. Using data mining, machine learning, and other statistical techniques, software makes it possible for independent insurance agencies to make their processes and their pitches more cost-effective and more efficient for both agents and policyholders.

Policyholders gain power

As wearables and the IoT gain ground, policyholders gain more power over their policies. Telematics allows drivers to reduce their rates through safe driving practices. User-friendly portals allow policyholders greater access to their information. While this shift in the power structure of insurance may make some agencies nervous, savvy independent insurance agencies recognize a golden opportunity to make clients happy while also lightening their workload through a more collaborative partnership with policyholders.

Portals facilitate communication

Portals have the potential to connect insurance providers with policyholders and with healthcare professionals. Policyholders can review their data in real-time, and agents and doctors can exchange data in a protected environment. Workflow and document management are streamlined, and portals provide an extra layer of security when it comes to client information.

Policyholders demand out-of-the-box solutions

As Millennials make up more of the market, independent insurance agencies will be required to provide insurance solutions that don’t look like traditional coverage. More flexible bundling, professional freelancer insurance options, and pay-per-day travel insurance are just a few of the innovative solutions being offered by forward-thinking agencies.

Need help putting your insurance marketing in place this year? Contact AgenciesOnline to establish a partnership with professional insurance marketers with a view into the future as well as decades of experience to guide our strategies.

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