It is time as Independent Agents we start selling insurance online in this space. We are not in this space because of technology issues we are not there as we need to ask or tell our partners we want to sell online and then market accordingly to gain market share.
Online Insurance truly has not been a success simply because it doesn’t work, it doesn’t matter how one tried to twist and turn this. The GEICO model was to distribute online, however now they are opening up local agency owned offices. Also as we have seen with Google, the ACA and a number of other online platforms, online insurance is not working simply because it’s not a 2 click transaction and most people don’t understand insurance. As for technology goes, the key is for Agents utilize technology in the distribution of insurance and this is happening, however it’s not happening directly with the consumer. For those who are saying it’s involving, I can only image they are saying it not to appear to have been defeated.
Agent – you are both right and wrong. On-line purchasing absolutely works for some customers. If you are a single renter with one car and minimal assets to protect, purchasing auto and renters on-line is easy. However, as your risk profile becomes more complex by getting married, buying additional cars, adding drivers, buying toys, needing an umbrella, then you need a more sophisticated distribution point like a local agent to advise you. My belief is that multiple distribution methods will and need to exist and that local agents will always have a valuable slice of the pie.
Good points CL PM. The growth of Geico and Progressive has shown that online insurance sales are a success. Maybe not recommended or wise for all customers, but certainly “working” from their perspective. Geico’s always had brick & mortar sales facilities but I would guess this will not be an aggressive approach for them. Unless they create different pricing levels like Progressive.
Great. Just another example of how technology will replace thousands of jobs for the sake of efficiency. How is this a good thing? Yes, insurance online shopping is the future and one day they will figure out a way to replace the human factor. Someone please explain to me how this is good for the economy? I want nothing more than someone to prove me wrong.
It is time as Independent Agents we start selling insurance online in this space. We are not in this space because of technology issues we are not there as we need to ask or tell our partners we want to sell online and then market accordingly to gain market share.
Online Insurance truly has not been a success simply because it doesn’t work, it doesn’t matter how one tried to twist and turn this. The GEICO model was to distribute online, however now they are opening up local agency owned offices. Also as we have seen with Google, the ACA and a number of other online platforms, online insurance is not working simply because it’s not a 2 click transaction and most people don’t understand insurance. As for technology goes, the key is for Agents utilize technology in the distribution of insurance and this is happening, however it’s not happening directly with the consumer. For those who are saying it’s involving, I can only image they are saying it not to appear to have been defeated.
Agent – you are both right and wrong. On-line purchasing absolutely works for some customers. If you are a single renter with one car and minimal assets to protect, purchasing auto and renters on-line is easy. However, as your risk profile becomes more complex by getting married, buying additional cars, adding drivers, buying toys, needing an umbrella, then you need a more sophisticated distribution point like a local agent to advise you. My belief is that multiple distribution methods will and need to exist and that local agents will always have a valuable slice of the pie.
Good points CL PM. The growth of Geico and Progressive has shown that online insurance sales are a success. Maybe not recommended or wise for all customers, but certainly “working” from their perspective. Geico’s always had brick & mortar sales facilities but I would guess this will not be an aggressive approach for them. Unless they create different pricing levels like Progressive.
Great. Just another example of how technology will eliminate thousands of jobs for the sake of efficiency.
Great. Just another example of how technology will replace thousands of jobs for the sake of efficiency. How is this a good thing? Yes, insurance online shopping is the future and one day they will figure out a way to replace the human factor. Someone please explain to me how this is good for the economy? I want nothing more than someone to prove me wrong.
Maybe Google will come back and buy a company like Bolt.