TECHCHALLENGE

the tech solutions mentioned in this report are expected to experience significant improvements in the coming years.

The report showed that more agencies are using marketing automation platforms with a 15% increase year-over-year for email and text marketing, prospecting, client retention, prerenewal processes, cross-selling, and up-selling.

“There are more and more stories coming out about agencies having success with marketing," Anderson says. “[Technology] helps their client have a consistent experience and these tools allow their staff to be able to be more efficient, providing that consistent quality experience."

“A big problem with agencies over the years is they just don't follow up on all the work they're doing. It's what I call 'follow-up failure,'" Anderson continues. “But they shouldn't have to remember to, and that's what computers and automation can help with. We're just seeing more agencies adopt and realize how these tools can help them provide a consistent quality service experience to their clients."

For decades, agents have experienced challenges when integrating technology into existing systems and ensuring they work harmoniously with their carrier partners' systems. This year, Catalyit gauged agents' perceptions of how well these partners support them. The top 10 most positively ranked companies included eight regional carriers and two national carriers.

“Over the years, there's been lots of conversation about agents and carriers and how they work together, and what we're trying to do is put some actual numbers around that," Anderson adds.

“How satisfied are agents with carriers and what can agents, carriers and the vendors do to improve the ecosystem, all in service of the policyholder, the agency customer, and the carrier policyholder."

Will Jonesis IA editor-in-chief.

Jason Walker President Agency Revolution

When harnessed properly, the potential for insurance agents to utilize artificial intelligence in their marketing strategies is immense.

Artificial intelligence (AI) fuels unforgettable action sequences in “The Terminator," sentimentality in the children's flick “WALL-E" and a worst-case scenario in “2001: A Space Odyssey." But in real life, AI when harnessed properly provides opportunity and a competitive advantage.

The potential for insurance agents to utilize AI in their marketing strategies is immense. Let's consider what AI is and its implications for the industry.

The Rapid Rise of Generative AI

Generative AI, or technology that automates the creation of written text and imagery, is one of today's leading topics of conversation. With its quick adoption in seemingly every industry imaginable, tech visionaries such as Elon Musk and Steve Wozniak have signed an open letter addressed to AI labs

Chatgpt

requesting a temporary hold on the evolution of AI systems until their implications are addressed although Musk is still developing Twitter's own AI program, according to Forbes.

One of the most well-known examples of generative AI is ChatGPT. OpenAI, an AI-focused research lab, developed ChatGPT using a large language model to create enriched text-based responses from user-generated prompts.

ChatGPT's “intelligence" is only as strong as its ability to retrieve and organize the context of publicly available content, as well as apply the context supplied by a user in the interface's prompt.

While many of us have used the tool to create funny stories and poems about our circle of friends, family and colleagues, ChatGPT's true power can be realized through practical applications in business.

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It is easy to imagine risk associated with any topic, and generative AI without parameters can take us down a multitude of “what if" rabbit holes. When we focus and consider generative AI like ChatGPT, insurance agents can begin thinking of rules or parameters that make it a viable solution for the agency.

How to Use ChatGPT to Assist Your Agency's Marketing Efforts

The work of an agency requires discipline, timeliness, insurance knowledge and constant communication. Whether any members of the agency staff possess professional writing skills, they're necessary when conducting day-to-day activities, especially when marketing the business to prospects and clients.

The marketing media and forums are diverse Facebook, LinkedIn, agency websites, blogs, press