As many as 86% of insurance agents agree that digital technology is vital to helping their insurance agency grow, according to a recent Providence Bank Agency Finance survey. However, in spite of the acknowledged importance of digital technology, 76% of agents feel that they are not getting the most out of their digital technology, according to the survey.

With more information available online for customers to compare insurance policies, carriers and agents, your digital presence is more important than ever. Therefore, creating a comprehensive strategy for implementing new technology is vital to your agency’s success.

Your strategy should include objectives, a timeline and costs, as well as how you will measure its effectiveness. You may only be able to implement one piece of technology at a time, so planning and deciding where to invest time and money is important.

Social media is a great way to connect with clients. Different platforms are generally user friendly and are already being used by most potential clients. Most agents say that they use Facebook (39%) or LinkedIn (31%) to market their business, while fewer agents use Twitter (11%) and Instagram (8%).

Besides social media, insurance agents also use e-newsletters and automated text messages to connect with clients. E-newsletters allow your agency to give weekly or monthly updates to clients about various insurance topics. Text messages are a great way to send out reminders about bills or appointments.

Social media is a great marketing tool. However, your website is your best digital tool because it allows customers to see your agency, your story and the value you bring to the table. Potential clients visit your website to learn more information and determine whether they will use your services.

Our survey showed that two-thirds of respondents felt that their website was just average. Making sure that your website not only performs well but also looks appealing is very important. Investing in the functionality and design will ensure that current clients are happy and that potential clients can make informed decisions. 

Another useful digital tool is a client portal or mobile app to allow your clients to view their insurance information, pay bills or learn more about their coverage all in one place. Client portals can be extremely helpful to your agency. They allow you to easily create an internal database of your clients with all their information in one place to better meet their needs. However, 62% of respondents indicated that they do not use a client portal or mobile app for their clients.

The insurance industry is moving more digital every day, yet our results show most agents aren’t keeping up. Having a website is not enough anymore. See the survey results or contact Providence Bank for help.