Technology can’t replace the insurance agent

We live in a digital world, and like many of the new insurance companies, we’ve built our business on technology — but we are first an insurance company.

We’ve been pioneering property insurance through our market-leading online quoting and binding platform and sophisticated risk modeling and scoring technology since our inception, but getting the insurance part right is fundamental to our success.

While technology is a foundation of our business, so are relationships and the individuals who drive our work forward. Our success would not be possible without our producer partners who develop, manage, maintain and nurture relationships with our joint policyholders.

Insurance transactions today don’t look like they did in years past. From stacks of paper on kitchen tables to online quotes, how policyholders purchase insurance is changing. And the insurance industry is also experiencing significant change — premium increases, reinsurance challenges and economic instability.

These factors are making the relationship part of the insurance transaction more important than ever. Here’s why the role of the independent insurance agent will remain, even in our online world.

1. Personalized service
   Agents work closely with their clients to understand their unique needs and provide personalized insurance solutions. They take the time to explain the different coverage options available, answer any questions clients may have and help them make informed decisions about the best insurance policy to protect their American Dream.
2. Choice
   Independent agents are not tied to any one insurance company and can offer policies from a wide range of insurance carriers. While a homeowner could shop around on their own, agents have more knowledge of products than consumers do. Working with an independent agent gives clients the flexibility to compare different insurance products and choose the one that best suits their needs and budget with advice from a trusted professional.
3. Claim advocacy
   In the event of a claim, agents act as advocates for homeowners, working with the insurance company to ensure that claims are processed and paid out promptly and fairly. They are also available to help homeowners navigate any issues that may arise during the claims process. This is a valuable role not only for the insured but also the insurer. Agents can provide valuable feedback to their carrier partners as they work together to improve the customer experience.
4. Expertise
   Agents have extensive industry knowledge and can provide valuable advice on coverage options, policy limits and other important factors that can impact insurance needs. They also know the local market, an especially important part of shopping for coastal insurance.
5. Trusted advice
   The best agents are also trusted advisors. They stay current on industry trends and can provide guidance on how to adjust coverage as life and circumstances evolve. They may be able to foresee rate increases and can partner with homeowners to evaluate a variety of aspects of risk management for a homeowner to ensure all their assets are protected.

As the digital world evolves, the way companies and consumers engage also changes. The name on your agency sign might have been there for 50 years, and the relationships from the good old days probably remain, but technology is changing.

Independent insurance agents continue to provide a high level of service and expertise, giving homeowners peace of mind that they are adequately protected and have the support they need in the event of a loss.

Agents who understand and leverage the relationship with the insured, while taking advantage of online tools, will continue to provide value to the insurance transaction.