Today's insurance agency: More flexible, connected and profitable

Smart insurance agencies are reaping the benefits of a hybrid-work environment. As a result, recruiting and retaining young talent will improve as insurance meets the flexibility and tech-enabled workplace that younger generations expect. (Photo: Sharomka/Shutterstock.com)

We all know the insurance industry has had a reputation of being slow to modernize when it comes to embracing new technologies. Many independent agencies have been financially successful with their existing InsurTech, giving them little incentive to make changes or invest in new tools. And our industry has been very comfortable for a really long time with an “if it ain’t broke, we don’t need to fix it” approach.

That changed in 2020. Many agencies had to abruptly pivot to remote business and implement new digital solutions practically overnight just to function. Technologies like web- and cloud-enabled agency management solutions, mobile apps, and electronic payments and signatures became table stakes to service clients.