2021 Best Practices Study

Adapting to a Rapidly-Changing Environment

InsurTech Best Practices

focused on streamlining the application process and some of the listed providers include Indio and Rocket Referrals. Additional externally focused technologies were centered around client communication and many agencies have found success with tools like Zywave and Agency Revolution.

Action Items

Reagan encourages Best Practices Agencies to stay abreast of InsurTech news and take proactive steps to respond to InsurTech . Below are four action items for your agency’s consideration:

Hire Leadership : Awareness of the ever-changing technological landscape starts at the top for an agency. Bring in knowledgeable personnel focused on connecting your operations to technology solutions.

Start with Areas to Improve : Understand that a majority of the InsurTechs in the news will not apply to your operations. Identify your biggest challenge areas and needs as an organization to develop a filter for your research.

Collaborate : Remember the network effect and work to create dialogue among your peers. Striving to be the only agency leveraging a specific technology ultimately results in limited value of that technology.

Evaluate Carriers Through a Lens : Changes in customer expectations and preferences accelerate along with technological evolution. When evaluating carrier relationships, ask, “How are you improving the insured’s experience?”

The strategies outlined above will prepare you to welcome new changes and propel your agency to the forefront of the industry, maintaining your status as a Best Practices Agency.

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