Your Agency's Risk in a Changing Insurance Landscape
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Marketing and sales technology designed for insurance professionals.
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Your Agency's Risk in a Changing Insurance Landscape
- 1. Your Agency’s Risk - Strength Of Retailers IndustryPressure –Commoditization Have you heard? Even industry retail giants have joined the insurance marketplace to provide inexpensive auto insurance right inside their stores! Covered Policies: • Automotive Policies Link Covered Policies: • Automotive Policies • Home Policies • Renter Policies • Condo Policies • Small Business Policies Link Covered Policies: • Automotive Policies • Home Policies Link
- 2. Your Agency’s Risk - Strength Of Carriers IndustryPressure – Exposing Risks 1. McKinsey – Agents of the Future (2013), 2. McKinsey – Beyond Price (2012) 60% of agency customers first got quotes from direct channels. 2 Auto (70% of personal lines premium) is now seen as a commodity.1 Carriers now interact directly with people at lower cost with consistent service. 1 In the last 10 years, P&C carriers increased ad spend from 1.7B to 5.9B. 1
- 3. Your Agency’s Risk – Modern Consumers IndustryPressure – Exposing Risks 1. McKinsey – Agents of the Future (2013) 2. McKinsey – Beyond Price (2012) 3. Insurance Journal – How Carriers, Agents Can Adapt As Small Commercial Buyers Move Online Digital/social channels influence 40% of consumer decisions. 2 Consumers now use multiple media channels to inform their decision. 2 Customers now say their insurance is with the carrier instead of the agency.1 Small business ins. customers are ready to purchase online without an agent.3
- 4. Learning From the Travel Industry Lessons Learned From 1995 - 2011, the total amount of travel agencies decreased from 47k to 14k, yet travel agency air sales increased from $73 billion to $82 billion. 1995 2011
- 5. Define Your Agency DefiningYourAgency What are your agency’s strengths? What are the main challenges for your agency? What is your agency’s 5 year plan?
- 6. How We Impact Your Business Pushing ROI New Opportunities Round-Out Retention Team Performance Referrals Lead Conversion
- 7. How Healthy Is Your Sales Funnel? YourAgencySales Funnel Attract “Buyers are 66-90% through their process before contacting you.” 1 Engage “30-50% of sales go to the vendor that responds first.” 2 Nurture “Nurtured leads make 47% larger purchases.” 3 Convert “National site conversion rate for small to mid-size businesses is from 1.5% - 2.9%” 4 “68% of Companies Haven’t Identified Their Sales Funnel.” – Marketing Sherpa ENTIRE POTENTIAL MARKETPLACE Sources: 2. Gleanster: Measuring Impact of Lead Nurturing1. Link 3. Annuitas: Lead Mgt Framework (Slide 12) 4. Link VIO Lead Assignment Email Campaigns VPC
- 8. What Astonish Does What The Platform Does MarketingMarketing Technology Opportunities Round-outs Retention ReferralConversion Team Performance Whole-Platform Coaching Marketing & Automation Inbound Marketing Virtual Insurance Office Virtual Profit Center
Editor's Notes
- Segue in talk track to the next slide after “Local Competition: starting to grow…”
- 10 years ago, airline tickets were booked through traditional travel agencies. With the advent of the Internet, agencies sales halved and the traditional model seemed dead. Many agencies disappeared. Others reinvented their business models. They shifted to specialized travel services, focused on operational efficiency and technology. Today, these remaining agencies are larger and more successful than ever before.
- The images on this slide should lead to the corresponding roi slides as a hidden slide
- Need stats & specific testimonials if possible
- Need stats & specific testimonials if possible
- Need stats & specific testimonials if possible
- Need stats & specific testimonials if possible
- Need stats & specific testimonials if possible
- Need stats & specific testimonials if possible
- Since we can’t show EVERY feature on the right hand side, stress that these are just one of MANY ways we accelerate leads through the funnel.