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Agent for the Future™
Transform Your Agency

The insurance industry is on the edge of some major disruptions. at Liberty Mutual and Safeco Insurance®, we believe independent agents (IAs) are positioned to win with consumers. but as the industry changes, IAs will have to adapt and transform their agencies to succeed.

Here are some ways IAs can transform their agencies in 2019.

IAs are holding steady in the market, but competition is fierce

                                                                                                                         
35% of all personal lines in 2016 and 2017 were written by IAs
155% growth in insurtech investments between 2017 and 2018
Source: Global Reinsurance
$1.5b spent on advertising in 2017 by one large direct-to-consumer carrier

one key to agency transformation is thinking like a customer. this includes using more digital tools to reach customers.

consumers interact with businesses through traditional and new channels. in the previous year, consumers used:

  • 60%

    email or phone calls

    email phone [icon]
  • 54%

    business website

    computer [icon]
  • 38%

    online chat

    online chat [icon]
  • 30%

    mobile app

    phone apps [icon]
  • 28%

    social media

    social [icon]
Source: Drift, Salesforce and myclever

audio searches are also increasingly popular

20% of households now use Alexa or Cortana in their homes
28%

of customers say they would definitely or probably use their digital assistant to perform servicing tasks with their insurance policy

Source: Safeco data

our Agent for the Future survey found that most IAs are aware of these shifts.

said customers' increasing need for mobile and digital capabilities would have a major effect on their agency by 2020

said that adding new digital capabilities like mobile and chat were part of their five-year growth plans.

however, only 40% said they are comfortable with offering online account management.

10 technologies that can digitally enable your agency

  • responsive [icon]

    a streamlined, mobile-friendly website

  • phone apps [iccon]

    customer self-service portal or mobile app

  • chat [icon]

    online chatting or AI chat bot

  • integrate [icon]

    an agency management system that integrates with other tech

  • data management [icon]

    data management and analysis programs

  • automated mail [icon]

    automated texting/emails

  • remote meeting [icon]

    remote meeting tools

  • phone video [icon]

    video quotes and policy reviews

  • alexa device [icon]

    audio search functions

  • social icons [icon]

    a social media strategy

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Insights to Transform Your Agency [infographic]

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