How to Become the Uber of the Insurance Industry

Insurance Innovation Reimagine

Wouldn’t it be nice to “uberize” the way you work? What would becoming “the Uber of the insurance industry” actually represent and entail? And, is that even possible?

For Uber, the success of their on-demand taxi service was not simply due to the fact that they disrupted the industry. The game-changer here was that Uber took an undying service that works and made it better—modernized it for today’s consumer with current technology.

The same idea can be applied to insurance agencies working to remain competitive in a time where consumers are starting their shopping process online before talking to an insurance agent. In this case, being the Uber of the insurance industry means reimagining the agent workflow to ultimately improve the customer experience.

Uber took consumer wants and needs very seriously and delivered a new and improved taxi service that better fits the on-demand world. While insurance agents have been comfortable doing things the same way for years, the reality is that the time has come for agents to “reimagine” their sales process to give consumers the experience that they have now come to expect.

Here’s what buying auto insurance currently looks like for the modern consumer:

  • 71% of the time they enter their information online in pursuit of insurance and then are bombarded by phone calls from call centers.
  • They are uninformed about the insurance they are buying and need experienced guidance.
  • Not all agents have the right product for them.
  • Sometimes they end up talking to inexperienced agents focused on the sale, rather than providing the best insurance product for their particular situation.
  • They can’t easily comparison shop to determine which insurance product best-fits their situation.
  • Getting a policy in a single phone call is not the norm, but it’s what they are looking for.

In a perfect world, the entire experience—from the agent to the carrier to the insured—would be seamless. By augmenting your workflow with next-gen tools (what you’ve always done except better) the experience that you give your customers can, in fact, be smooth, integrated, and more efficient. So, “Uber of the Insurance Agency” is feasible!

With technology that provides the enablement to shop, compare, and buy the right products, agency owners will see more happy customers and a better bottom line. Picture your  family-owned business as a simple, one-stop, omni-channel, comfortable, advisory tool for your clients. It’s everything you’re good at, made easier. You, then, could service more customers in a way that enables a welcomed and trusted insurance process. With the right tools, the reimagined agent can:

  • Manage customer information and their sales process seamlessly in a single platform.
  • Advise the customer on the best insurance solution to cover their needs and risks.
  • Get instant quotes from multiple carriers.
  • Quickly deliver customer information to the carrier for easy onboarding.

Oh, and all of this can happen on-demand—at the exact moment the consumer specifies their insurance needs online.

Just as Uber drivers control when they work, agents can take control of customer acquisition through this on-demand model at a time that’s convenient for them. Instead of focusing on juggling customer information between systems, you should be able to hone in on delivering a frictionless, personalized consumer experience to grow business.

Delivering exactly what the customer wants, right when they need it, is more valuable today than ever. Luckily, with the right access and support, agencies can now deliver the insurance experience that we’ve all been waiting for.

Want a glimpse of what the uberization of insurance could look like for your agency? Request a demo of Apliant below!


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