Agents and carriers have much to gain by using real-time transactions rather than dealing with the delays of batch processing, a technology expert advised a conference of agents and insurers.
The comments of Cal J. Durland, manager of agent relations and ACORD User Group Information Exchange (AUGIE) facilitator, were reported by the Professional Insurance Agents of New York State Inc. following their conference with New York Insurance Association.
Ms. Durland's remarks at Wednesday's session in Albany were part of a roundtable discussion designed to help agents and companies employ the modern technology that "young employees (and customers) expect to use in transacting insurance business," PIANY said.
The organization reported that Ms. Durland encouraged agents to incorporate the next-step technology into their offices, such as: providing chat capabilities on Web sites; using text messaging; creating special Web sites for niche marking; providing customer-access portals on agency Web sites; using Web presentations with small-business clients; and researching and communicating with clients using the social networks Facebook, MySpace and LinkedIn.
She also emphasized the importance of using real-time by both agencies and carriers, explaining that agents using real-time found their staff spends their time handling current clients more efficiently, offering them more time to dedicate to sales and reaching out to new clients.
Agencies that have current technologies also have an easier time attracting new employees, she said.
For those daunted by the idea of spending money on a technology overhaul, Ms. Durland offered a road map so that agents, brokers and carriers could implement new tools at their own pace.
She recommended starting with the use of forms from the technology standardization group ACORD (the Association for Cooperative Operations Research and Development) and moving to implementation of downloads for personal lines, commercial lines, commissions and claims.
Advanced steps, she mentioned, involved using service functionality for inquiries for claims, policies and billing; using real-time rating; and having an endorsement process though the management system.
PIANY said a second roundtable at the conference spotlighted hiring, specifically attracting new talent and keeping successful hires challenged.
A panel moderated by Thomas J. Denham, founder of Careers in Transition LLC, discussed the problems surrounding hiring qualified individuals in the insurance industry and ways they could combat these issues.
Reoccurring issues, PIANY said, included: combating the negative image of the insurance industry; getting people to understand that there are many facets to jobs within an agency or company; retaining employees once they've been trained; and recognizing the different needs and work styles of employees from the next generation.
To introduce the next generation of insurance professionals to the industry and to fight the negative image of the industry, PIANY said Mr. Denham suggested agents consider setting up an internship at their agencies. But, he noted it is important make sure interns be exposed to a good mix of tasks from all facets of the business (producing, underwriting, claims, etc.) and that they be included in client meetings and social networking events.
Other possible solutions to staffing dilemmas raised by participants included: traveling to local high schools and colleges to participate in career fairs; helping recruits see the opportunities for growth within an agency; implementing a mentor program for new hires; and keeping up to date with new technologies.
In the statement issued after the conference Ellen D. Kiehl, PIANY senior research analyst, said, "There aren't any quick fixes to the issues discussed. However, the participants walked away with valuable information to help them advance their business plans into the future."
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