How do you frame the need for digital tools with a tie to customer expectations?

Norcup: We knew it was critical to assess what was working and what was not, at our agencies. You really have to differentiate your brand from the purely digital plays out there. Focus on clients who perceive value in the personal guidance you provide. When you can scale relationships in an authentic way using technology, you are making every interaction more meaningful.

Paredes: When I joined Swingle Collins & Associates (SCA), one of their goals was to double growth within five years. We're great at insurance and bringing in new clients but this attribute contributed to onboarding and client cultivation challenges. One Risk Advisor managing 750 to 900 customers is definitely a huge job to keep up with. Automation was the only way to efficiently streamline the process.

Will you sell more policies with engaging client communications?

Paredes: When I check in with our agency's Risk Advisors, I am always hearing positive results. The process often begins with an agency-generated tailored email. Clients are able to respond and provide updated information, allowing our Risk Advisors to make custom recommendations, resulting in clients buying more coverage tailored to their specific needs.

Norcup: Every message to each client or prospective customer should be characterized as professional advice, not the hard sell. At any juncture of their lives, you can offer guidance — 'Here are your risks, here are our recommendations based on our experience.' Clients learn that insurance can help them succeed. Having a marketing automation platform that correlates customer data with our regular outreach makes this easy.

Are you investing in tech or investing in people?

Norcup: We strived to help agents understand that in this connected age they are expert guides and advisors instead of order-takers and service providers. We also want to transform clients into collaborative partners who feel empowered in their decision-making. Sometimes saying 'tech' can scare people into thinking you're removing that human touch. It's actually the opposite — weaving the client factor with agent technology has given us the ability to create deeper relationships that are based on client preferences and needs. Our clients feel they're getting counsel from experts.

Paredes: The personal connection is so important to our high-net-worth clients, so being able to tailor every interaction without getting bogged down in the minutia increases productivity. We think of our marketing automation as a virtual assistant that helps us get out the right message at the right time."

What results really changed minds?

Norcup: In just three short years we are seeing the fruit of our digital investments. Agency retention is showing a 1.5- to 2-point increase year-over-year. The average policy per household increased from 1.1 to 1.82, with the average premium per household increasing from $997 to $2,432. Our client engagement score is targeted to be in the 60%-70% range. These are extraordinary successes in our industry.

Paredes: Tech shows its value increasingly with every campaign. Clients want high touch points, and insurance-focused marketing automation is how we can cater to their preferences. One of our tools is Fuse by Agency Revolution. We share this as a case study into the software deployment lifecycle within an agency. We are seeing a 95% retention rate and double digit growth. In addition, we've landed 25 new employees and are on track to double in size in five years, meeting the original goal.

What advice would you give to your colleagues?

Parades: Two years of turmoil has brutally sorted out the adaptive and the stagnant in every industry, insurance included. Customer behavior has changed dramatically and they're vetting everything through a digital lens. As a society we're geared to embrace change at a much more rapid pace. Technology is a tool that helps us focus on what's actually important.

Norcup: Applying technological solutions where they are most effective helps your agents save at least three to five hours weekly, giving them the ability to work more efficiently and add their personality. We firmly believe our industry must evolve. Don't become complacent. Listen to your clients who value relationships and your high-producing agents who know them best, and continue to leverage technology wherever you can, because that's ultimately where our industry is going.

Whitney Norcup ([email protected]) is chief operations officer at Columbia Insurance & Wealth Management. Joanna Paredes ([email protected]) is director of operations at Swingle Collins & Associates.

See also:

• Introducing the NU PropertyCasualty360 Luminaries program
• 7 digital priorities for insurers in 2022
• Artificial intelligence: The answer to underwriter fatigue