It’s Almost National Insurance Awareness Day. Are You and Your Agents Ready?

insurance awareness day man fixing suit

National Insurance Awareness Day stresses the importance of having sufficient insurance coverage. It is a day to remind the public that insurance is an important piece of their financial safety and peace of mind. Agents will spend the day making sure their policyholder’s plans are up to date and that the public has access to educational and up-to-date insurance information. So, what can you do to get the most out of National Insurance Day?

Provide Your Agents with Data

Data and its proper use can transform how agents provide service to their customers. For example, if there is a change of address, name, or beneficiary, an agent can infer that there was a marriage, divorce or move. National Insurance Awareness Day would be the perfect time to check in and see if they are still happy with their level of coverage.
During these follow-ups, agents should ask customers to create a list of the most important things they would want to cover, including family and any important possessions. From there the agent can offer a quote and if the individual’s budget is restrictive, the lowest items on the list can be modified or excluded. By conducting this exercise, an agent can build trust with their potential client and the customer knows they are not being sold into anything they don’t need.

Provide Your Agencies with Data

Providing your agencies with data will boost overall development and efficiency because your agents will be able to anticipate what kind of changes are needed before the customer asks for them. Moreover, if an agency sees that they have too many agents in one area, the agents can be redistributed to avoid excessive competition. Continuous updates to these types of data assures that you will have a strong presence without oversaturating any one region.
There are additional ways your agents and agencies can use data throughout the year such as:

  1. Understanding the current state of performance compared to goals
  2. Quickly identify process, distribution, or organizational improvement opportunities
  3. Increasing access to information to improve decision making
  4. Refining sales campaigns
  5. …and others

For more information on how to use these types of data to empower agents, download our whitepaper Transform your Insurance Agents’ World with a Wealth of Data.

Empower Your Agents into the Future

Before you launch into a project to provide your agents with more data, make sure the outcome is something that they will actually use and benefit from. We recommend obtaining your “voice of the customer” to it to prevent wasting time and investments.
Conducting a Voice of the Customer study can take on many forms, from user group sessions to surveys. Ask your agents whether they have the right tools and data, or what you can do to make their work easier when out on the road. The goal is to determine a baseline of desired capabilities, analyze the information, and determine the best course of action for delivering those capabilities. Your agents are more likely to perform at top levels when they have up-to-date tools in hand. For more information on “voice of the customer” analysis techniques, be sure to read this informative article.

National Insurance Awareness Day is a great opportunity for your agents to check in with their customers, and for you to check in with your agents. While they are making phone calls and conducting policy reviews, you can be assessing your data environment and considering improvements that will boost performance all around.