We live in an age where technology is king and where generations are growing up relying more on computers than on personal interaction; how does this change the role of the traditional life insurance agent?
For years people were used to dealing with insurance agents face to face in their home; that is still the way that many older people feel more comfortable doing business. But as we see older generations disappear the expectations of people buying insurance are changing.
Who was the insurance agent we were used to?
The old school insurance agents were, and still are on some occasions, the people who called at your door to sell you insurance. They would come in and sit at your table to discuss their policies with you. After agreeing on a policy to suit they would take out a pen for you to sign a contract. Although these agents are still in existence the time is not far away where complete change will be necessary.
What changes will happen?
Many insurance agents are already adapting there role to keep up with customer requirements. They are remodelling themselves as financial advisors as opposed to just staying with the insurance role.
They still advise people on their options with regards to insurance policies but they do so within the context of wider financial advice such as investment opportunities. Since the financial difficulties that were brought about by the global financial dip people are keen to get advice on how best to make the most of the money that they have.
There is also a growing trend for insurance agents to make increased use of the Internet. Many people will look for life insurance options by searching online so having a presence there makes good business sense. The Internet is todayâ€™s version of the kitchen table where discussions can be held as to what is the best life insurance solution for the customer. It also gives the insurance agent the opportunity to provide a wider range of services than going door to door would.
Overall the progression of time has seen the role of the traditional life insurance agent change for the better; the service they provide is wider and is easier to access by all. Details of the service are also available to view 24/7; this wasnâ€™t the case prior to the increased use of technology. The fact that face to face interaction is diminishing does not take away the personal level of service, it just makes it available to more people through the global shop window that is the Internet.
As time progresses further so the role of traditional life insurance agent is likely to change completely as we lose the generations of people who are uncomfortable online and prefer speaking to someone face to face. The older generations of tomorrow will expect insurance policy advice to be just a click away whenever they need it; they will not expect to have to wait until the next time the man comes around.