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e-Insight
INSIGHT e
INSIGHT AUGUST 2020 NEW TRENDS IN THE INDUSTRY
Key Post-Covid Trends Insurers Should Tap Into Trends Impacting Traditional Auto Insurance Sneak Peak at Virtual CONVO Speaker PLUS
Middle Market TRENDS and the ERA OF UNCERTAINTY
Strategies for addressing a challenging market
By Peter McMurtrie and Linda Stueber, Nationwide
Is Your Agency
Human-Optimized? By Ryan Hanley
Nothing has changed.
throne. COVID-19, social unrest, political division, automation, widespread consolidation...none of it matters (at least not for the success of your agency). People still need insurance. Period. In fact, many of the agencies I’ve spoken with recently are up year-over-year in gross revenue.
Then the internet happened. Our world changed and we We battled these strangers, acquiring skills and scars alike. How is this possible? They’re rapidly deploying “Humanoptimized” tools and processes in their agency.
That doesn’t mean they’re chasing the next CRM, engaging in drawn-out discussions on the pros and cons of each insurtech porn. of independent agents...the era in which we reclaim our
The last forty years have been our Hero’s Journey. We were safe and comfortable. We knew our place in the world and the world was comfortable with how we fit in.
were forced to travel unknown lands. It was in these lands that we encountered technologists and venture capitalists. agency management system, nor are they over-indulging in
As a result of these trials, we return world stronger, fiercer, more dynamic, and diverse...we return the Hero.
The old obstacles feel like anthills.
Simply put, they’re adding human touches where humans increase value and removing human touches where they do not. This is the mission of the next generation of independent insurance agencies and nothing in the current political, societal, or economic environment has changed market...who cares?
that mission.
If anything, the dynamic nature of the obstacles we YOUR PEOPLE.
currently face has expedited the need for the transition to a human-optimized agency. Now is not a time to hide in your turtle shell or stick your would die to have the human connection with their clients from behind, not you. Humans are the hard part, not optimize the humans in your agency to serve the clients with every client. My belief is that in maximizing the value
head in the sand like some Ostrich meme. Now is a time for decisions and action.
Will you be able to purchase the perfect technology? No. Choose a tool and move forward.
Will you find the perfect game plan? Nope. Choose an action plan and move forward
Will you make mistakes? Absolutely. Choose to accept failure as part of the process and move forward.
You’re going to get frustrated. You’re going to spend money and time on tools that don’t work. You’re going to question your decisions (daily, if not hourly). Is your agency human-optimized?
that’s ok), because we’ve entered a new era in the history So download still doesn’t really work...whatever.
So carriers continue to decrease commission and push into the D2C space...big deal.
So direct competitors continue to commoditize the
You have a superpower that tech companies, insurance carriers, and D2C competitors will never have...YOU AND
Stop playing their game. They envy you. Yes, every insurtech startup, carrier call center, and direct competitor that your agency takes for granted.
This means, as crazy as this may sound, they are fighting technology or advertising or automation.
Your mission, should you choose to accept it, is to you want to serve.
This idea sits at the core of my agency, Rogue Risk, and provides a construct for every decision we make, every day of our humans we will maximize our value to our clients and ultimately (and selfishly) the value of our agency.
Join the club. No one knows what they’re doing (and Ryan Hanley is the owner of Rogue Risk LLC in New York and will be a featured speaker at Virtual CONVO 2020.
The insurance industry just experienced five years of customer experience push in less than five months. Work from home isn’t a luxury anymore. You’re rapidly implementing VOIP phone services and moving your Agency Management System to the cloud. Automation is creeping into every aspect of your business. What the heck is going on?! The clients you serve today act differently than the clients you’ve spent a lifetime serving. Don’t panic, now more than ever the human advantage of independent insurance agencies is showing it’s true value. In this session we’re going to explore exactly what you should and should not be focusing on in order to build your own version of the human-optimized agency.
CONVO is going virtual!
VIRTUAL
ReTHINK • ReINVENT • ReIMAGINE October 6-8, 2020 Tuesday & Wednesday: Full Day • Thursday: Half Day
