2. 2
Today’s Speakers
Ira Amilhussin
Sr. Marketing Manager
LinkedIn
Emily Friedman
Research Consultant
LinkedIn
John H Bell
VP Enterprise Digital Marketing
Travelers
Chris Keneally
Enterprise Account Executive
LinkedIn
3. 3
Methodology
Producers
Independent or Captive Brokers/
Agents selling at least one line of
commercial insurance or
employee benefits
Survey
Online survey fielded via
LinkedIn platform from
December 11 – 23, 2014
Sample
477 commercial insurance
clients and 297 commercial
insurance producers (all on
LinkedIn, based in the U.S.)
Clients
Decision-makers or influencers
for commercial insurance or
employee benefits at their
organization
4. 4
Key Findings
Intermediaries play a central
role in the commercial
insurance ecosystem
• Nine in 10 clients use an
agent/broker for their
commercial purchases
• 43% receive at least
weekly communication
from their agent/broker
Clients increasingly rely on
digital & social sources to
discover and validate info
• More than 3 in 4 rely on
professional networks;
about half plan to increase
reliance
• Clients are primarily
looking for industry
perspectives and potential
agents/brokers
Agents/brokers also rely on
digital & social sources to
build their business
• Nine in 10 rely on
professional networks;
three-fifths plan to increase
reliance
• Agents/brokers are mainly
prospecting for clients and
differentiating their brand
Commercial insurance
professionals drive tangible
results through LinkedIn
• 43 percent of agents/
brokers on LinkedIn have
found a new client through
the platform
• 23 percent of clients on
LinkedIn have been
influenced to work with an
agent/broker
6. % of clients responsible for each line (Top 10)
Commercial Insurance decision-makers & influencers (clients) are
responsible for a wide range of organizational liabilities
6
Employee Benefits
61%
Workers Compensation
53%
Commercial Property
46%
Commercial Casualty
43%
Errors & Omissions Liability
39%
Professional Liability
39%
Directors & Officers Liability
34%
Commercial Auto
40%
Cyber Liability
26%
Marine/Inland Marine
20%
Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn
7. Commercial Insurance decision-makers & influencers (clients) are
responsible for a wide range of organizational liabilities
7
1 to 3 lines 47%
4 to 6 lines 19%
7 to 9 lines 16%
10+ lines 18%
Median 4 lines
Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn
Employee Benefits
61%
Employee Benefits
61%
8. 68%
67%
65%
65%
53%
64%
61%
59%
58%
56%
54%
16%
26%
11%
9%
25%
1%
1%
0%
3%
1%
0%
8
Commercial Insurance agents/brokers offer numerous lines of coverage
for their clients, with certain lines often core to their business
% who sell each line% who consider line their primary business
Top commercial line sold by brokers and agents
Lines
(median)
11
Commercial property
Commercial casualty
Workers compensation
Commercial auto
Employee benefits
Excess liability
Professional liability
Errors and Omissions liability
Directors and Officers liability
Cyber liability
Marine/Inland marine
High %
9. 9
Most commercial insurance clients work with an agent/broker for their
purchases and communicate with them regularly
Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn who work with a broker/agent on at least some purchases
clients on LinkedIn use an agent/broker for
at least some purchases (NET)9in 10
10. Most commercial insurance clients work with an agent/broker for their
purchases and communicate with them regularly
Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn who work with a broker/agent on at least some purchases
of clients who use an
agent/broker hear from
them at least weekly
43%
are satisfied with that level of communication
93%
% who hear weekly by company size
Enterprise 54%
Medium 44%
Small 29%
10
11. Even with intermediaries to consult, clients increasingly turn
to digital sources for their own research
12. More than three in four commercial insurance clients rely on professional
networks for information relevant to their roles
12 Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn
82%
77%
76%
49%
42%
Insurance Carrier Domains
Professional Networks
Online Insurance Trade Publications
Online Insurance Consulting Resources
Social Networks
Rely on each source
(to any extent)
Plan to increase reliance on each source
(among those who currently use)
30%
42%
27%
28%
38%
Extent that clients have relied on digital for discovery, consideration, and/or validation pertaining to commercial insurance
13. Agents/brokers are also turning to digital sources to inform their roles, and most
expect to increase their reliance on professional networks
13 Base: U.S. Commercial Insurance producers (Captive and independent brokers and agents) on LinkedIn
Rely on each source
(to any extent)
Plan to increase reliance on each source
(among those who currently use)
91%
88%
86%
54%
53%
Insurance Carrier Domains
Professional Networks
Online Insurance Trade Publications
Online Insurance Consulting Resources
Social Networks
32%
59%
32%
31%
48%
Extent that agents/brokers have relied on digital for discovery, consideration, and/or validation pertaining to commercial
insurance
15. 61%
56%
47%
45%
38%
37%
37%
35%
34%
34%
34%
30%
21%
57%
54%
45%
42%
36%
34%
34%
32%
32%
32%
31%
28%
18%
Seek commentary or perspectives on industry topics
Check credentials of a prospective broker/agent
Identify prospective brokers/agents to work with
Stay up-to-date with company risks
Learn about emerging liabilities
Stay up-to-date on core coverage issues
Seek relevant content from agencies/brokers
Stay up-to-date with insurance market conditions/rates
Communicate with prospective broker/agent
Seek advice/perspectives on risk strategies
Seek information about an insurance carrier(s)
Communicate with current broker/agent
Research insurance policies or products
Clients who turn to social media – and LinkedIn in particular – are seeking
perspectives on industry topics and vetting agents/brokers
Purposes for using a social and/or professional network (among all clients)
Net: use at least 1 social network Use LinkedIn for this purpose
15 Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn
16. 16
“LinkedIn is…instrumental in my ability
to leverage my network to find the best
carriers and brokers for my needs.”
- Commercial Insurance Client on LinkedIn
17. One-quarter of clients on LinkedIn have learned something from the platform that
has influenced a decision to work with an agent/broker
17 Base: U.S. Commercial Insurance decision-makers and influencers at small, medium, and enterprise companies on LinkedIn
Clients at small companies are especially likely to have learned
something on LinkedIn that has influenced their decision to work
with an agent/broker.
All Clients Small Medium Enterprise
Allowed me to learn more about an agent/broker 48% 50% 51% 44%
Influenced a decision to work with a particular agent/broker 23% 34% 19% 19%
Influenced a decision to work with a particular carrier 15% 13% 14% 18%
18. 89%
78%
62%
59%
55%
55%
55%
52%
51%
46%
39%
39%
29%
89%
77%
61%
57%
52%
52%
52%
48%
48%
44%
37%
38%
28%
Among agents/brokers on LinkedIn, more than half use the platform to identify
prospects, while nearly as many share content & perspectives
Purposes for using a social and/or professional network (among all agents/brokers)
List my credentials and/or areas of expertise
Stay up-to-date on companies or executives
Due diligence on potential clients
Identify prospects
Stay up-to-date on risks relevant to clients or prospects
Facilitate “warm leads”
Communicate with prospective clients
Share content that is relevant to clients/prospects
Post commentary or perspectives on industry topics
Share advice/perspective on risk strategies
Stay up-to-date with insurance market conditions/rates
Seek information about an insurance carrier(s)
Stay up-to-date on insurance policies or products
18 Base: U.S. Commercial Insurance producers (Captive and independent brokers and agents) on LinkedIn
Net: use at least 1 social network Use LinkedIn for this purpose
19. Agents/brokers who use LinkedIn have generated new business through their use
of the platform
19 Base: U.S. Commercial Insurance producers (Captive and independent brokers and agents) on LinkedIn
Among brokers/agents who have used LinkedIn to identify prospects: (Top 5)
Identified key influencers
and decision-makers
52%
Generated an
opportunity
43%
Asked for an intro/
referral
42%
Found a new
potential client
43%
Secured a
meeting
31%
20. “I've found the most success using LinkedIn to research
prospects. I've had prospects review my profile, which highlights
education, prior experience and writing, all of which enable me to
distinguish myself from other brokers.”
- Independent broker
“LinkedIn has afforded chance for warm introductions. Specifically, I had
a prospect that would have been a cold call, however, I discovered they
were linked to 2 of my connections.”
- Independent broker
20
21. 21
Today’s Speakers
Ira Amilhussin
Sr. Marketing Manager
LinkedIn
Emily Friedman
Research Consultant
LinkedIn
John H Bell
VP Enterprise Digital Marketing
Travelers
Chris Keneally
Enterprise Account Executive
LinkedIn
22. Best Practices
22
Build out your profile
Clients use LinkedIn to check the credentials of potential agents/brokers, so boost visibility with
embedded keywords, up-to-date credentials, and areas of expertise.
Grow your network
Facilitate “warm leads” by connecting with a broad range of contacts on LinkedIn – from potential and
existing clients to colleagues and peers.
Engage your clients with the content they seek
At least weekly, share content on LinkedIn that provides value – ie. company news, articles, industry
trends. Sponsor the content to extend your reach beyond your Followers.
Establish yourself as an influencer
Demonstrate your expertise by publishing long-form content to deep dive on topics that matter to you
and your business – such as industry commentary, company risks, and emerging liabilities.
