Consumers interact with the insurance industry in five ways, according to a report from Agency Revolution. In "Insurance Marketing Brief the Ultimate Shortcut to Growth," CEO Michael Jans identifies these interactions as:

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  1. None perceived

  2. No agent

  3. Agent only

  4. Agency who uses traditional technology

  5. Agency who use emerging technology.

The study shows that happy clients with a higher Customer Satisfaction Index (CSI) score of 852 have a 95.5% retention rate compared with customers with a lower CSI score of 750, which are retained at a rate of 82%. That 13.5% difference can result in "an extra $130,000 for every million dollars in your book of business." Extend this number out a few years, and you're talking a huge benefit to your agency.

And the happier your customers are, generally the more policies they have with you and price becomes less of an issue.

But simply throwing "emerging technology" at clients won't make them happy. If it were that simple, you would be changing your approach weekly, because that's how often new technology is brought to market. And, leveraging new technologies doesn't mean dumping traditional methods.

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