CONSUMER ONLINE ACCESS: HELP YOUR CUSTOMERS HELP YOU
by Rick Morgan
Technology has had a profound impact on our everyday activities — from fueling our vehicles to preparing our food — to such a pervasive degree that we often don’t even notice it’s there. This document by Rick Morgan examines how you can employ technology in your business to increase productivity, and your bottom line.
People used to get into elevators and give the floor number to an attendant. He’d close the outer and inner doors, and pull a lever to take you to your floor.
There was a time when you couldn’t telephone anyone yourself. You’d pick up the phone and give the number to the operator, who would dial for you.
We used to endorse a check and push it under the glass to the teller. God forbid you should show up after hours — sorry, mister, we’re closed.
Remember when searching for reference materials used to be a librarian’s job? Now we use the Internet. And when we’re lost in the car, a computerized voice helps. People are even scanning and bagging their own groceries.
What’s changed? It’s all about convenience, control — and technology.
Technology has made it convenient for us to do these things ourselves. We also like to be in control. You know something’s done right if you do it yourself.
Not that we all rush to use new technologies. For example, people at first hated the impersonal feeling of ATMs. They took years to gain acceptance. We were confused by the technology, and didn’t trust it. We didn’t like the fact that people weren’t helping us. Now we can’t imagine living without ATMs.
In the beginning, people hated answering machines (the original voice mail). They were seen as impersonal, and accepting them took some time and tolerance. Things change.
Consider workflow in your agency. What things are you doing for customers that you can let go of? Are you stuck doing transactions — faxing pieces of paper here and there? What about your staff? Sure, updating information is mission-critical, but that’s all the more reason to let your customers do much of the job themselves.
Of course you don’t want to stop providing customers with personal service. But bear in mind that they rely on you for consultative advice and service — not transactions. Do you earn your commission by building intimate knowledge of your customers’ risks: finding the best coverage for them and updating their policies regularly? Or by processing ancillary pieces of paper, such as certificates of insurance?
For example, one agency offers these online self-service options:
- Review or make changes to personal or company information
- Evaluate current insurance coverages
- Replace, edit, remove or add a driver, vehicle, or equipment on an Auto policy
- Request a motor vehicle report
- Apply for an insurance certificate
- Change or add a certificate holder, additional named insured, or loss payee
- Request an insurance form
- Report an accident or claim
- Ask a question
- Get an insurance quote
- Ask about employee benefits options
- Request information on financial services
- Post a question on the bulletin board
Self-service can’t replace the value or need of the insurance professional. But consumer online access can help agents get rid of an incredible amount of processing activity. For example, as many as six out of 10 phone calls to an agency are billing-related. If customers can access their own billing histories, many of those calls could be eliminated, freeing up hours of productivity for staff.
An easy place for any agency to start providing self-service options for its clients is in certificates of insurance. Certificates are a non-revenue-generating activity for agents and a constant source of irritation for clients who can’t get them when they need them. This type of self-service gives agents and brokers a competitive advantage by providing 24/7 service without additional staff. It’s popular with contractors who are out in the field and truckers who are out on the road during business hours. These groups and others can access certificates of insurance themselves when they’re doing paperwork — after hours.
Technology allows people to happily fend for themselves in a lot of cases. They don’t have to rely on others. It’s convenient, always accessible, easy to use, and it’s flexible for people with busy schedules. Technology puts them in charge.
Agents should never have evolved into order-takers. The agency that keeps engaging primarily in transaction processing will keep losing value, and probably give way to a Web site. But the agency that pays attention to customers’ needs and portfolios can use the Internet as a tool, not a competitor.
What are some things you don’t want to give up as an independent agent? Consultative selling, true relationship building, risk management, choice of companies, and the best coverage at a decent price. But for everything else, many of your clients want to use the Internet to do business with you. Are you ready for them?