“We’re not going to fold up our tent and go dwelling; we’re going to struggle via this”
“The big driver here is the audience we hired for the survey. Most of the people who responded are salespeople and entrepreneurs – some of them are agency bosses and some are sales producers – so I think these people naturally have a positive attitude, ”said Dave Zeornes (pictured), Business Development Executive at Aon Edge.
He also stated, “Many of them are industry veterans and seniors in the insurance industry who have previously gone through some challenging times. So it’s not their first rodeo. Her answer was, ‘What other choice do we have? We’re not going to fold up our tent and go home. We’ll fight our way through. ‘”
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Still, there is a lot to learn from the survey and how agencies will position their businesses in the coming year. For example, two-thirds of respondents plan to do something different in 2021, namely to focus more on professional development, which is mainly due to the new product offerings that will emerge from the coronavirus situation. For one thing, Zeornes has spoken to representatives whose customers are asking about their auto insurance options, and he believes there will be innovations in pay-per-mile offerings and, more generally, in pandemic coverage.
With these changes, “Agents and clients need to understand what these new products are and what they actually cover in order to speak [about them] Customers ”, explained Zeornes – hence the need for professional development.
Many respondents (17%) also voiced their plans to invest in new loyalty programs as agents and brokers figure out how to interact with customers in this new normal. On the specialty insurance side, the agents are also trying to expand and expand their offerings for professional service companies, disaster relief organizations, non-profit organizations and healthcare providers.
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In the digital realm, 66% of agents do not plan to make their business completely virtual in 2021 and only 6% plan to be completely virtual by the new year, while social media was identified in the survey as the marketing tool on which the agent is set to give them the biggest boost in 2021, with webinars and virtual events and email explosions in second and third place. Additionally, 41% of agents believe Facebook will bring them the best ROI in 2021, followed by LinkedIn.
“The way agents, brokers and consumers take in information is changing. I think agents and brokers are responding to that,” Zeornes said.
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Overall, the Aon expert recommends that brokers and agents remain open about what to expect from the point of view of product and customer loyalty, especially when it comes to how customers want to be contacted by their insurance advisors and to understand how this works out over the course of the year the course has changed in the last 10 months.
In the Aon survey, respondents were also asked about the classic movie quote that best describes their way of thinking for 2021.
“The winner of this was ‘do or not do’ with 30% of the responses. There is no attempt “from Star Wars,” Zeornes said, “with barely a second of” There’s No Crying In Baseball “from A League of Their Own.