The Connected Business of Insurance
July 25, 2019
According to the 2018 IVANS Connectivity Survey, 81% of agents surveyed reported they place more business with insurers that provide automation. In the digital age of insurance, efficiency through automation can build stronger agency relationships and lead to significant time and cost savings for both your business and agencies. Are you using all the automation available to be as efficient as possible?
Download is typically the first step toward enabling greater agency-insurer connectivity. To become digital insurers and keep pace with demand in an evolving industry, insurers need to use additional digital tools that provide an enhanced experience to agents and insureds. It’s time to take that next step and continue growing in the digital age of insurance.
81% of agents surveyed reported they place more business with insurers that provide automation.
2018 IVANS Connectivity Survey
Expand Appetite Reach with Markets
68% of agents surveyed missed opportunities to place business because they couldn’t find or access a market. If you’re not marketing your products and appetite directly in an agent’s daily management system workflows, you could be missing out on valuable new and renewal business opportunities.
The traditional ways of communicating appetite are inefficient and require huge investments of time, including the development of web pages, appetite guides and webinars, and scheduling countless appointments for both in-person and telephone meetings.
As the insurance distribution model evolves, IVANS Markets ensures you can quickly identify agencies interested in new lines of business and automate appetite communication to more effectively market products.
Advantages that Markets offers:
- Automated Communications: Automate appetite communications to agents directly in their daily workflows.
- Improved Efficiencies: Reduce dependency on outdated appetite guides and other traditional and often inefficient methods.
- Enhanced Connectivity: Build stronger agent relationships by enabling your agents to provide the best coverage to their clients.
Offer Integrated Quoting with Rating Services
75% of agents surveyed see value in having comparative rating integrated directly into their agency management systems. Since the majority of an agent’s time is spent in the management system, they hate the hassle of leaving it to quote new and renewal business.
By using integrated quoting through IVANS Rating Services, you connect directly into agents’ daily quoting workflows, providing a seamless experience for them and increasing your connectivity to drive new business and build stronger agent relationships.
Advantages that Rating Services offers:
- Seamless Experience: Increase ease of doing business with agency partners through inline quoting.
- Time and Cost Savings: Eliminate time and expense configuring, managing and maintaining multiple connections in separate systems.
- Single Exchange: Automate quoting workflows via a single exchange.
Reduce Customer Headaches with eServicing
Did you know 82% of agencies surveyed found the availability of automated insurer connectivity to be very important when selecting insurers to do business with?
When a customer calls an agent, they’re expecting timely service for policy, billing, claims and payment inquiries. An effective agent processes transactions quickly, from directly within the management system. Agents benefit significantly from simplified processes when answering customer queries.
Insurers can support agents through a managed internet data exchange like IVANS eServicing that offers seamless information transfer between systems, allowing agents to work faster and smarter. Advantages that eServicing provides include:
- Single Sign-On: Agents sign into the management system once versus managing user credentials for individual insurer portals.
- One-Click Agency Inquiry: Security is enhanced and password updates are eliminated so agents spend less time in insurer portals.
- Insured Bill Pay Connectivity: Policyholders have access to your bill pay website through their agent’s customer self-service portal, allowing for a more connected customer experience.
Take the Next Step Toward a Better Digital Experience
The future of insurance is already here and becoming a digital insurer is paramount for growth and success. Greater agency-insurer connectivity benefits all stakeholders in the insurance ecosystem through improved client retention and more profitable business opportunities.
Going beyond download, insurers can enable agents to more effectively reach consumers by taking advantage of new digital tools offering automation, integrated quoting, expanded appetite reach and seamless exchange of data between insurers and agencies.
For additional insights on the full range of digital tools available to your business, watch Going Beyond Download: What’s Available and How You Can Benefit on-demand webinar.