It’s a new year with new opportunities! This includes the chance to ramp up your digital connectivity, spark more profits and create better partnerships. The industry is hungry for more connectivity, with 90% of agencies reporting in the Ivans 2022 Connectivity Survey that they place more business with carriers that provide connectivity.
What can you do to kick off the new year with the best digital connectivity? We wanted to provide you with three tips to get started.
“Communication is essential. There are three parties at a minimum in every engagement: the insured, the carrier, and the agent.…”– Craig Most, District Manager, Most Insurance, an InsurOne Insurance Agency
1. Make Download a Priority
In 2022, carriers added 155 new lines of business to download onto the Ivans Network. If you aren’t continuously improving your download offering to agents and agents aren’t embracing download, you’re missing out on saving time and money. Download includes eDocs and Messages, and we’re happy to report 88% of carrier respondents use this tool. This is up 17% from last year! Let’s keep up the excellent work as we start the new year.
“Download is the pathway to efficiency. We want your office to be as efficient as it can be.”– Cal Durland, CPCU, Interface Optimization Director, Ivans
Agencies love having data directly in their agency management systems. When carriers, MGAs and agencies exchange information digitally, it’s a win-win for everyone. Agencies also ranked download as a top service for carriers to provide, with policy download and digital document delivery being in the top two.
Ivans Download™ is an easy way to give your agents back time to win more business, becoming a preferred carrier partner. The Ivans team has decades of experience in data translation and working with carriers. We’re here to partner with you to add additional lines available for download and to help you if you’re new to offering download. Embrace download to synchronize policies, claims and other information from your agency partners. This tool allows you to give agents the information they need to deliver timely and effective service insureds desire.
2. Dig Into Data
The industry is realizing that knowledge is power, and data tools are essential. Oftentimes, the industry insights you need are out of reach or too narrow in focus. We’ve seen strides made in the personal lines space and are starting to see more tools and use cases in commercial lines.
“I think the commercial lines space has an opportunity to do more with data. The personal lines space does a fairly decent job of that today.”– John Pegnato, Chief Product Officer, Simply Business
As an industry, we’re just scratching the surface with the insights data can provide and the opportunities are endless. With 78% of carrier respondents saying they already have an internal data analytics team providing benchmark details, we know this is already becoming top of mind.
This can start internally as many carriers have already invested in data analytics professionals. Ivans is focused on providing ways to offer data insights that help you make the best decisions – including a new suite of products and partnerships with leading tech companies like Relativity6 and NeuralMetrics.
3. Win in Commercial Lines
In our survey, 91% of agencies let us know they write more business with carriers that provide real-time appetite and 75% of agents said they can’t find or access a market to quote a risk. In order to win the business you want, real-time appetite and digital connectivity are key.
Agents are starting to expect automation and ease along the insurance lifecycle. And there is an easier way than jumping on phone calls, sending emails and logging into multiple carrier portals.
From simplified sales and distribution to better appetite, Ivans has tools to help at every phase of the insurance cycle. We also partner with a growing list of tech providers who want to work with you to move the industry forward.
Spark Digital Connectivity All Year Long
When it comes to digital strategy, the right fit depends on your business and needs. Everyone in the industry is trying to strike the right balance between technology and human interaction. And it’s important to incorporate both.
While the beginning of the year is the perfect time to get started with new goals, digital connectivity is something to work on all year long. Use our 2022 Digital Technology Trends report to unlock the insights you need to spark the best partnerships and processes.