Insurance Speak: Secrets to success for independent agencies

Tony Caldwell shares his insights on how to thrive in a virtual world.

The insurance industry provides a variety of opportunities for those looking for an interesting and rewarding career that allows them to educate, protect, and serve others. Critical to meeting those needs are brokers and agents who work with policyholders to determine what types of coverage are required for their various risks.

Tony Caldwell, the author of several books, including “The Uncaptive Agent” and “ The Silver Lining of COVID-19,” shares his insights on how agencies can survive and thrive in today’s environment on the latest Insurance Speak podcast.

“I think that the future for the insurance agency industry is actually brighter than it has been in the past, and I think that there is more opportunity in the future than there has been in the past,” he shares.

He says many in the industry are bullish about the opportunities because human beings crave relationships with other humans, something that is not possible through algorithms and other technology. The benefit, however, is that automation does things faster, better and cheaper while freeing up agents for more human interaction.

Caldwell believes that agencies of the future will be highly digitized, and the challenge will be how to maximize the information available through the data they collect. With the move to a digital environment, agencies will also have to ensure they provide a strong customer experience for their clients. “We need to give them the same level of service as companies like Amazon,” he advises.

While COVID-19 has given everyone access to technologies like Zoom, Caldwell says it has also given agencies an opportunity to be more creative in how they broaden their reach beyond traditional geographic boundaries. For more on our conversation, listen to the podcast.

Subscribe to Insurance Speak on Spotify, Apple Music, Google Play or Libsyn.

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