If you’re reading this, you’re in the insurance industry. If you’re in the insurance industry, you’ve recently heard some variation of “where did all insurance superstars go?” Stated another way you might hear, “I can’t find good people,” or even “I can’t find people” or “nobody wants to work anymore.” Whether the question is with regards to superstar producers, CSR’s, account managers, or something else, it seems everyone is asking the same question.
Where Did The Insurance Superstars Go?
That is a good question. In fact, it’s such a good question, let’s not spend our time trying to answer that question. Let’s move on to the solution. Even though we will skip that question, I am curious. What happened? Where did all the superstars go?
There’s a Better Way
Everyone’s heard about CRM systems and many have watched the evolution of their development. We understand why users were shy of this new technology in the early days when it sent nice marketing messages and required users to embrace another (a new/different) interface for their business. Some of those are still around being used to send happy birthday messages, office closure notices, etc. But, are these really making a material impact on the underlying business?
2nd Gen CRM
Then the industry went to the far extreme. CRMs became tools that could do just about anything. But, they required a lot of setup and configuration and most still require an additional interface (additional from a perspective of the user that has a system where they do their work, and this is different) for users. If not, then the system emails the users with their action items. Who wants more email? Nobody I know.
Application Specific Automation
This is the answer to the missing superstars question with which we started. If you’ve been holding off on buying a CRM because you were worried about the work involved, congratulations. You made a good decision. Nobody wants a new interface. In fact, nobody wants a new tool. Everybody wants their job to be easier.
Easier, that’s what the latest innovations are bringing. Now automation systems (they’re not just a CRM anymore) can now be used to automate just about anything). Our next post will dive into Application Specific Automation in more detail. For the remainder of this post, we will look at the selection criteria to use when considering automation as the replacement for the missing insurance supercars.
Solving Your Problem
Our advice on how to find a system that solves your personnel challenge is to do two things:
- Demand ease-of-use – NO NEW INTERFACES
- Shop for tools with the best Return on Investment
The Logic Behind No New Interfaces
You need your team to embrace whatever system you purchase. As a manager, I learned this lesson the hard way. I purchased an early CRM system and demanded the sales team embrace the new system. I’m not proud to say, it didn’t work out that well. If the employees are unwilling to embrace new ways of doing things, they will probably win that battle, unless you’re willing to make the hard decision to fire them.
Calculating Return on Investment
With the right vendors, this is easy. Vendors should provide test results from other users (with contact information to verify the results) that lets you calculate ROI. As an example of how we do this at ValChoice, we collect the test results data and share it with other users and prospects. We also build calculators you can use to estimate how these savings would apply to your business. Three examples of our calculators for agents can be found by CLICKING HERE. The calculators include:
- Re-marketing Cost – What does re-marketing cost your agency? In the value (mid-market) and affluent market segments much of the re-marketing that’s being done is completely unnecessary. Use our calculator to identify opportunities to save money.
- Book Roll – Calculate the benefit to the agency of rolling a book of business.
- Underwriting Changes – These changes can become costly fast. Alternatively, you can make them an opportunity to build trust with clients and create a selling opportunity. Estimate the cost of handling these manually with our calculator.
A World Without Insurance Superstars
Your business can’t find superstars? It’s okay. Automation works. In fact, in many ways and many situations, automation works better than humans. Automation is reliable, never gets sick, performs at a high level every day and with fine tuning, continues to improve. That’s better than most employees.
In our next post we will look at ways you can integrate an easy-to-use automation system that saves the agency money, increases sales, improves profitability and is completely reliable. Meet ValChoice, your application specific automation. Our specialty, your business. We understand we work for you. Therefore, we have no aspirations of changing the way you work so you can work with us.
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