Top Challenges the Insurance Agency Industry Faces

Insurance_saleFor insurance agents, this is a time of great uncertainty. Ongoing social and political upheavals are creating new challenges for driving your insurance sales. So, as we start to near the end of the year, let’s take a look at the biggest problems on the horizon that your agency should already be thinking about!

The Top Three Insurance Challenges For 2014 And Beyond

1. Adapting To Digital Marketing Strategies
The Internet has changed virtually everything about modern business practices, but many insurance companies we’ve seen are having a hard time keeping up. Modern Internet marketing requires both knowledge of the new field, as well as the technical and IT expertise necessary to make it happen.

A modern website, suitable for both desktop and mobile users, as well as good use of content marketing and SEO strategies are becoming a necessity for driving insurance sales. If your agency hasn’t gotten onboard with these yet, it’s well past time to do so.

2. Marketing To Millennials
There’s probably no demo group harder to market to right now than Generation Y. Most people under the age of 35 or so are deeply distrustful of large financial entities, as well as most forms of advertising. When dealing with financial matters like insurance, they generally prefer to do it online, avoiding human contact.

There’s no “magic bullet” for Gen Y insurance sales, but it’s mostly a matter of building trust. When building your online materials, try to be as straightforward as possible. Even a hint of deception is often enough to send younger buyers fleeing to a different agency.

3. Dealing With An Uncertain Regulatory Environment
Politics are in flux worldwide, with new regulations being passed or eliminated constantly. Regulations on insurance across a wide range of fields are changing rapidly, both at the state and Federal level.

Along with greater online awareness, insurance agents also need to spend more time watching the news and following trends. You can’t afford to be caught off guard, so maintaining awareness of the changing political environment is a must.

Top Challenges the Insurance Agency Industry Faces was last modified: by

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