Our custom mobile apps are designed to make your business as mobile as you are. With an IXN mobile app, you’ll literally have your agency in your pocket. At the beginning of May 2017, our team at IXN held a survey amongst our subscribers to gain insight into how one of our mobile apps would improve their business. The response was far better than we expected.
Just a few of the major agencies and brokerages we heard from include Allegis Advisor Group, American National, CPS Insurance Services, ECA Marketing, NBA, Pinney Insurance, Transamerica, and World Financial Group.
What does it all mean?
We’ve all seen and heard the trendy buzz about artificial intelligence and the Internet of Things and how they could take over the insurance industry. But the issue is that all of this buzz comes from sources outside of the industry. It comes from greedy dreamers aiming to replace agents with their “quicker” solutions.
So, where do they fall short? Well, we’ve all seen it. Jason, the frugal head-of-house looking to buy his first-ever life insurance policy. He runs a quick quote on your website quoting tool, and soon you’re getting a call from him wanting to buy a $150K policy, with his wife and 2 kids as the beneficiaries.
If only you got a dollar for every Jason, right?
The 2 major problems here are 1) undercoverage—in the tragic event of Jason’s death, $150K will certainly not cover the full financial need of his wife and kids; and 2) profit margin—with a policy like this, we’re talking about a monthly payment of only about $15-$25.
Agents bridge the gap between the “Jasons” and the policy providers. Agents wield the missing value. Agents are the lifeblood of the insurance industry. In short, no machine can replace the hard-earned experience of a living, breathing insurance professional.
Sadly, insurance professionals fall short too. It’s simple Darwinism. Our unwillingness to adapt with evolving consumer trends will be our demise. Stuart Ganis with Agency Nation put it this way: “Rather than trying to sell insurance the way we wanted to sell it, we should’ve adapted to how the consumer wanted to buy.”
HOW the CONSUMER wanted to buy. These are the critical words. Remember how in 2014 mobile usage exceeded desktop usage for the first time in history? And how in 2012, only 57% of millennials reported comparing prices in-store, leaving out the entire other 43% to other means? Old news. But still has major ramifications today!
The bottom line – the advancement of technology is only speeding up. We can either embrace it, or be run over. It’s time you had your agency in your pocket.
