Modernizing your insurance agency—easier said than done.
Investing in technology is the driving force of modernizing your business, and technology, like anything, is important to start small and grow, improve, and adapt over time.
It’s important to think of technology as a marathon, not a sprint. (I’m an avid runner myself, so this is coming from experience.)
But where do you get started?
When agencies ask me this question, I pose a scenario to them:
Imagine you are at a grocery store in front of a magazine stand 10 years from now with an article about your insurance agency. What would you want the headline to read, and what are your clients saying about you?
This is a thought experiment that I have the agency think through to determine where they see themselves in the future and who they want to be in the eyes of their clients.
So, what would your answer be to that? Be grandiose; don’t hold back!
I find that this tells me a lot about the agency owner I’m speaking with, and most of the time, it comes back to how important their clients are to them.
This is my go-to because I want to really know who you are, how you operate, and what drives you to do what you do every day.
And if you struggle to come up with an answer off the top of your head, that’s okay, too. It’s important to be honest and have the confidence to know what pushes you forward, your goal, and your reason for being in business.
Figure out where the opportunities are for your agency.
I then have them tell me their agency’s strengths, weaknesses, opportunities, and threats.
You might know this as a SWOT analysis (strengths, weaknesses, opportunities, threats).
The reason I have agencies start here is because I’ve found that the big question of “How do I adopt technology?” is usually uncovered by going through this exercise.
So, in the spirit of the conversation, here are the questions I ask:
- What makes your agency great?
- What challenges does your agency face?
- What opportunities can your agency seize?
- What threats loom on the horizon?
The way in which you answer these questions will highlight what makes your agency stand out and what you could improve through innovation.
By identifying these key aspects, you can narrow down the places where technology can make the biggest impact. As I like to say, work smarter, not harder.
Whether it’s with time spent on routine tasks, lack of resources in a certain area, or not being able to keep up with your competitors, there’s room for technology to help lead the way forward.
Teamwork makes technology work.
No, this is not another saying; it’s actually the truth.
Now that you’ve identified where you want to go and what the opportunities are, it’s time to talk with your team to see if their struggles and pain points line up with what you’ve already identified.
If you’re a team of one, this one’s easy.
But for everyone else, it’s important to listen and understand the pain points that your team has because you may not even realize them.
By aligning on what’s not working, you can add that to your list of what can be improved.
And, you can get buy-in from your team to look forward to adopting technology that has the potential to answer these concerns and simplify their work.
Training your team on new technology is another part of this, but during the exploration phase, it’s important to know what problems you are trying to solve before diving into a solution.
Investing in technology leads to attracting new talent.
As insurance agencies grow over time and have changes to their team, they often focus on the now and not on what’s ahead.
By that, I mean technology can play a more pivotal role in your business moving forward than you might anticipate. And by making advancements now, you could be putting yourself in a great position for positive growth.
To break this down further, I have an example to share.
I’ve personally found in talking with insurance agencies, they see a lot of burnout and turnover in positions at their agency, particularly at the CSR level, due to repetitive, routine tasks that take up time.
Technology that incorporates automation and artificial intelligence (AI) has made strides in this area, so there is good news at the end of the tunnel.
And as the insurance industry evolves, attracting new talent to your business will inevitably become a vital part of your business growth and innovation.
Technology plays a pivotal role in reshaping the industry’s image, making it more appealing to tech-savvy professionals.
By showcasing the use of cutting-edge technologies like artificial intelligence (AI), data analytics, and digital marketing, agencies can position themselves as dynamic and forward-thinking workplaces.
In addition to technological advancements, I’ve seen firsthand how offering flexible work arrangements can often attract younger generations seeking work-life balance and technological integration in their careers.
By adopting technology and considering a flexible work environment that appeals to people who value adaptability and innovation, you can future-proof your business as we head into the next generation of insurance.
Leaning into the customer-centric business model.
Independent insurance agencies are the definition of a customer-centric business model.
Day in and day out, you are dedicated to serving your clients, providing coverage, advice, and assistance throughout the client relationship.
Modernizing how your agency functions will lead to enhancing customer engagement.
To show you that, here are a few examples:
- AI and data analytics transform how agencies assess risk, personalize offerings, and improve customer experiences.
- Digital marketing allows agencies to reach a broader audience and connect with potential clients in meaningful ways.
By leaning into the natural tendencies of the insurance agency business model and pointing smart technology in the right direction, you’ll be able to drive further innovation in user experience and engagement strategies.
Agencies are increasingly relying on solutions that personalize interactions at scale.
With technology that incorporates AI tools and automation, your agency can use data across integrated solutions to send out communications to your clients that are at the right time and place to make a difference.
Remember, your goal as an insurance agency is to serve your clients and build relationships.
You can combine the human side of your business with the technology side to create a personalized approach that ensures your clients have an amazing experience from what you communicate and the way you do it.
By prioritizing technology that enables customer-centric strategies, insurance agencies can enhance client satisfaction and build long-term relationships.
Final thoughts.
As we move further into 2025, I’ve been seeing the positive ways that technology has influenced the insurance industry.
At an agency level, I have witnessed firsthand how technology transformed how insurance agencies operate with efficiency, alongside business growth and increased retention.
By leveraging customer-centric models, your insurance agency can attract new talent and enhance client engagement.
Embracing technology and adapting to changes in client expectations will not only drive growth but also position insurance agencies like yours as leaders in creating the ultimate client experience.
In this era of rapid technological advancement, the time to act is now. By asking the right questions and making informed decisions, your agency can navigate the great insurance shakeup and emerge stronger than ever.
To use the analogy I started this with, 10 years from now, you can make sure that the headline for your insurance agency’s front page magazine article is one of success, growth, innovation, and most importantly, telling the story of how you changed the lives of your clients.
Now that you’ve made it this far, if you’re looking for technology solutions that address your concerns and paint points, take a look into our complete insurance agency marketing platform and tools to change the way you operate your business for the better.
