Real-Time Quoting: Why It’s Essential in 2019

Back in the day, insurance agents and brokers would have to manually compile quotes from several different carriers every time a prospect reached out.

Not only did this process take a lot of time, but it also lent itself to human error. Agents and brokers would cross their fingers and hope they wrote down the right quote to relay to their prospect. Otherwise, that individual would probably look elsewhere for insurance because they made a mistake and quoted the wrong price.

Thanks to the evolution of technology, new tools enable insurance brokerages and agencies to streamline and improve the quoting and enrollment process considerably while reducing the likelihood of errors.

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4 Ways to Make Your Insurance Business Stand Out in 2019

Imagine you open an Italian restaurant in a neighborhood that’s filled with sushi spots and Mexican eateries. Your restaurant will stand out because it’s a unique offering in the area; you serve food that people can’t get anywhere else nearby.

In the insurance business, you don’t have that kind of luxury. It can be hard to get your name out there and differentiate yourself from your competitors. After all, clients and prospects tend to choose insurance providers based on cost and convenience. They might run a quick Google search, check out the first thing that pops up, and buy a plan that seems reasonable.

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Information All Insurance Agents Should Be Tracking for Their Clients and Prospects

The insurance industry is highly competitive. Even if your brokerage or agency is doing a great job, there’s a good chance some of your clients will leave—if for no other reason than that research suggests people switch insurance plans often.

To get your brokerage or agency to the next level, you need to do everything within your power to boost customer retention rates. Not only is it easier to sell to an existing customer than to a new one, but it’s also more lucrative. According to the Harvard Business Review, a 5 percent increase in customer retention can boost profitability by up to 95 percent!

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Best Productivity Tools for Insurance Agents

Insurance is a complicated and competitive business. Plans, premiums, and regulations change every year, which confuses the average insurance buyer—who is usually looking to get the best deals.

To get ahead and stand out from the pack, agents need to increase efficiency and effectiveness—positioning themselves as trusted advisers.

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Quote and Enroll Software for Insurance Agents vs. Carrier Direct

Imagine you’re planning a vacation to Hawaii, and it’s time to book a flight.

You could visit each company’s website to find out what Delta, American Airlines, and Southwest Airlines have to offer—and then cross your fingers and hope you find the best deal.

You could also use a comparison shopping tool such as Kayak to search every airline’s website at the same time. In doing so, you’d get a real-time comparison of all flights that meet your criteria, increasing the chances that you find a flight that’s convenient and best for your budget.

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Spreadsheets vs. CRMs for Insurance Agents

Growing your insurance business starts with having great relationships with all of your clients.

But in today’s fast-paced world, it can be difficult to find the time needed to provide a personal touch to every one of your customers—particularly when you’re still using an old-fashioned approach.

With the right tools in place, insurance agents can adopt efficient workflows that enable them to reclaim time while personalizing their outreach to each client.

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