Low conversion rates challenge insurance agents writing new business. While existing business has a higher conversion rate, there is always the occasional customer who doesn’t renew. As the direct model grows, the number of customers not returning grows as well. These challenges that insurance agents face aren’t new, but they are steadily growing in magnitude.…
Finally, technology is enabling insurance agents to increase their conversion rates and improve customer satisfaction. Facing increasing competition, agents and agencies are adopting easy-to-use tools that increase their efficiency. The tools are based on big data analytics, quantitatively measuring the recent history of price, performance (claims payment) and service, for every car insurance company, in every…
