Q: A recent survey conducted by Vertafore found that 77 percent of insurance agencies directly attribute their fiscal growth during 2012–2013 to the use of technology. How do you respond to that news personally, as a professional who works to find solutions in that space?
Over the last several years, insurance distribution economics have changed immensely. A stagnant economy with lower sales and payrolls for agents' customers and market overcapacity has made it extremely difficult for agents to grow their business. Many agents are embracing technology to expand their visibility and do more with less.
Owners and managers of insurance agencies recognize the value of applying technology to both the sales and operational aspects of their business. Social media, mobile devices and tablets have all enabled agents to provide better service to their existing customers and access new customers and markets. It is fascinating to ponder how they will utilize these technologies and others in the future.
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