Filed Under:Life Insurance, Sales Strategies

Emerging technology and the future of distribution

There is a place for the independent life insurance producer in tomorrow’s multi-channel, consumer-driven “I want it now” world. But it’s not so much face-to-face with the customer (unless it’s a video chat).

“Multi-channel approach.”

Get used to the term, because you are going to hear it over and over again in the coming years as life insurance carriers and agents use the phrase to describe how they seek to reach customers across a variety of interactive channels -— online, via a smartphone using an app, through social media, video conferencing, a live support call center, or talking in person to an agent.

Life insurance has traditionally been about community and building relationships, and that’s what social media is all about. Life insurance agents have always been social networkers, educating clients, investing in creating long-term relationships and growing their businesses through referrals long before social media existed. Social media is a logical tool for producers to embrace, as people share details about what’s happening in their lives freely via outlets like Facebook, LinkedIn and Twitter. When they get married, have a child, change careers or move, they post it. These are great triggers for life insurance discussions, and producers have an opportunity to use this information to initiate a discussion. Finding out more about your customers via social media is just part of a natural evolution to be where your customers are.

Producers need to “buy in”

Again, the message is that savvy producers will embrace these technologies to keep up with the modern consumer.

As for the possibility of “live” producers becoming obsolete at the hands of automation? Not so fast, says Don White Jr., CLU, ChFC, AEP, CEO of Treasure Coast Financial Services in Stuart, Fla.

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Nichole Morford

Nichole Morford
Managing Editor

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