The web is hitting the insurance industry with force. Just last year, online insurance sales grew by nine percent, hitting $17 billion in revenue. Consumers are increasingly comfortable with purchasing policies online and Internet-first brands such as Esurance are emerging to take advantage of the dramatic cost savings that an online direct-to-consumer sales model provides.
Against this backdrop of increased low-cost competition, local, brick-and-mortar agents and brokers have an acute need to stand out online. Because nearly three out of every four consumers seek an online review before making a purchasing decision, proactive online reputation management is no longer a luxury, but a necessity for anyone looking to build a book of business.
Concerned? Maybe you should be. Agents who are slow to adapt to a changing market will fall behind.
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