Managing Agents Effectively in a Data-Driven World: Five Tips for Success
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The new era of customer-centricity in insurance applies to agents just as much as it applies to policyholders. Many insurers are focusing their digital investments on improving the agent experience, and many are also focusing on finding ways to more effectively manage the agency plant. Today, an insurer’s digital strategy must include ways of using data and technology to manage the distribution channel more effectively, and in doing so, improve the agent experience. Aligning agency segmentation, preferred agent programs, and unique compensation programs are key to strategically addressing the channel.
Insurers are using new sources of data, sophisticated analytics, and new technologies such as gamification to focus their efforts where they will pay off. Karlyn Carnahan, Celent Head, The Americas, Property/Casualty, digs into new ways that carriers are using data and analytics to drive profitable production and create stronger relationships with their agents.