Digital transformation is no longer a far-off goal for insurers—it’s a business imperative. As customers shift their expectations and behaviours, insurers must adopt new digital technologies to remain competitive and generate more sales.
Online insurance sales are becoming increasingly popular, as customers move away from traditional methods of purchasing insurance. In fact, according to a recent study by Accenture, 43 percent of customers would purchase insurance through a digital channel if it were available.
There are many advantages insurance companies can gain by selling insurance online. It’s more convenient for customers. They can purchase insurance anytime, anywhere, and don’t have to take time out of their busy schedules to meet with an insurance agent.
Digital insurance sales also offer more transparency and choice for customers. With so many options available online, customers can compare different policies and find the one that best suits their needs.
Below are some proven ways to increase insurance sales in this digital world.
1. Re-evaluate your Insurance Agency Website
Your insurance agency website is often the first point of contact between you and potential customers. In the digital age, it’s important to make sure that your website is up to date and reflects your company’s values. Make sure it provides all necessary details and information about your company and policies you offer. Having a mobile friendly and easy to navigate website helps you reach more people who often search using mobile devices.
2. Get Involved in Digital Marketing
Digital marketing is a great way to reach potential customers who are searching for insurance plans online. The insurance industry is one of the most competitive industries in the world. In order to succeed, you need to have a solid digital marketing strategy in place. There are a number of different digital marketing channels that you can use to reach your target audience. The most important thing is to focus on the channels that will be most effective for your business.
Techniques like SEO, SEM, content marketing and email marketing helps you reach a wider audience who might be interested in your services. Make sure you’re targeting the right keywords, and consider using paid advertising to get in front of your target audience.
3. Use the Power of Social Media
Whether you are selling life insurance plans or funeral insurance policies, social media can be a great way to connect with potential insurance customers and build relationships. Use platforms like LinkedIn and Twitter to share your expert insights, and don’t forget to post engaging content that will capture attention and solve problems of potential customers.
4. Make Use of Technology
There are a number of insurance-specific technologies that can help you increase sales and improve customer service. From chatbots to digital signatures, make sure you’re taking advantage of the tools that are available to you. Insurance companies are also using AI and ML technologies to automate complex insurance related tasks and jobs to deliver an excellent experience to customers.
5. Think Outside the Box
The traditional insurance sales funnel is no longer effective in the digital age. Instead, think about how you can use techniques like content marketing and inbound marketing to attract potential customers at the top of the funnel and turn them into lifelong customers. Be an educator to increase awareness among customers so they can make informed insurance buying decisions based on facts.
6. Stay up to Date on Industry Trends and Changes
Keep abreast of new innovations and developments in the insurance industry so that you can offer your clients the latest and greatest options. By staying up-to-date with the latest trends in the insurance industry, you can stay ahead of the competition, improve your products and services, and better serve your customers. Additionally, keeping up with industry trends can help you identify new business opportunities and tap into new markets.
In this highly competitive landscape, it is important to stay ahead of the game so you can build trust and credibility to attract more insurance customers. By following these insurance sales tips, you can ensure that you’re staying ahead of the curve and maximizing your sales in the digital age while delivering great and personalized experience to customers.