Many have argued that regardless of this trend there will always be a place for the advice, experience and knowledge of an insurance broker. And we agree. But the reality is, it’s not such a black and white issue, and Businessary’s digital team thinks there’s some room for compromise here.
Insurance and digital were unintentionally the star of this year’s VERO SME Insurance Index. The index found a significant decline in the use of insurance brokers by SME businesses. The trend towards
A digital romance
What if we could marry up some of the best elements of traditional insurance broking, with the ease, availability and convenience of online business? This doesn’t necessarily mean an online shop or transacting business online – but the reality is that we work with so many businesses within the insurance and insurance broking business that have either no digital presence or a very poor digital presence.
A lot of insurance brokers and agencies have never needed to be online, and the bulk of their clients don’t currently prefer to do business online. But clearly, as the research is showing, the tides are changing and aren’t likely to turn.
See below for our top five reasons why you should invest some time, money and energy in your digital footprint:
Top five reasons to do digital marketing
- Your current clients may not be online, but your future and prospective clients ARE! Even if they’re not looking to complete a purchase of their insurance solutions online, potential clients do the majority of their research on any transaction…you got it, online. If you’re not even there (or your presence is outdated or unprofessional), you’re out of the running, friend!
- Make it easy to be found! There’s being found on Google, and then there’s being FOUND. Doesn’t matter if they’re current clients or new ones, at many points people need your phone number, office location or find the names of your team. Don’t leave them to search through old emails, make it as easy as a click of the button.
- Demonstrate your knowledge and expertise through your website and social media presence. Digital marketing solutions are not just about selling, it should be largely about educating. SHOW your clients and prospective clients the value of a broker rather than tell. Share relevant articles and your take on them, talk about emerging risks that your clients need to be aware of, and highlight opportunities for risk mitigation to help them prevent incidents from occurring in the first place.
- Make your own life easier! Some businesses have created portals for clients to log in and retrieve their certificate of currency, others put handy claims forms online. Think through some of your most frequently asked questions and whether you’re adding any value to the process or if it could be automated online.
- Your digital marketing presence isn’t just another step towards being the insurance broker of choice for your clients, it’s also about attracting and retaining top talent within your business. I don’t know any candidates that don’t give a thorough look at their potential employers’ website and social media.
Many of our clients that end up enhancing their website and social media find that they’re replicating a network and community online that mirrors that of their bricks and mortar community. Make the most of it – link to websites of other suppliers that you would refer people to because you know and trust them. Highlight your clients businesses and the good work they do. Feature any local organisations that you sponsor or charities that you care about and do fundraising for. Have some fun with it!