We Insure: Tech to Enhance the Agent-Customer Experience, Not Replace It

We Insure has always understood that the winning formula for consumers is choice + value + service. But not everyone in the insurance industry sees things the same way.

There’s been an overall trend toward direct-to-consumer (D2C) across many industries. Travel is a great example. When was the last time you booked a cruise through a travel agent? And Frontier Airlines recently dropped all customer service phone support in place of an app and chatbots. DIY travel has become the norm, and many seem to feel it’s the next stop for insurance too.

In fact, over the last decade or so, more than $10 billion has been invested in insurtech — technology solutions that automate insurance policy development and other processes. And there are more than 2,500 insurtechs in existence globally that promise quick policy service and low costs. But is there something missing in the larger D2C equation?

We think so. In fact, we know so.

When Self-service Falls Short

There’s a big difference between booking a hotel and purchasing homeowners insurance. A bad decision with one may leave you with a backache from sleeping on a lumpy mattress, but subpar insurance coverage in a crisis could cripple your financial future. The DIY approach is generally a better fit for less complex purchases — with fewer long-term consequences.

Insurance can get complicated … fast. Policyholders often don’t fully understand or appreciate the value of their coverage until they really need it. And the consequences? Insurance is one of the most potentially consequential purchases we ever make. You don’t need to look any further back in history than Hurricane Ian and the swath of uninsured, flooded-out homeowners left in its wake to grasp this. Analytics firms estimated the uninsured losses in Florida were $10 billion to $16 billion.

The Value of Agents

This is where agents can make all the difference. An experienced agent, through the personal relationship and trust they develop with customers, can counsel their clients about risks they may not be aware of and protections that are available with the right coverage.

Agents can take a more holistic view, understanding policyholders’ stage of life and any special needs they might have. They can explain coverage options in a way that consumers better understand and may lead them to make better informed decisions. The crucial insights agents offer can prove invaluable in the event of a loss.

We recognize the potential efficiency and value of a D2C approach, but we also believe that you can leverage and combine the strength of insurtech and the agent experience to offer customers the best of both worlds. That is, by keeping tech where it belongs — as a tool in capable agents’ hands, rather than as a primary point of customer contact. And that’s precisely what we’re doing at We Insure.

Powered by PEAK6 Insurtech, We Insure is positioned to revolutionize the industry by providing agents with the best tech tools they need to dominate their market — tools to enhance the agent experience, not replace it.

Data-driven for Better Value — People-led for Better Service

We know that with a policy management system, strong IT infrastructure, comprehensive customer service, digital marketing and back-end support, our agents will spend their time doing what bots can’t. By freeing up our agents from administrative and other tasks, We Insure helps them build stronger connections with customers while providing a higher level of service — unconstrained by the limitations of a captive agency. This drives customer loyalty and helps our agents build their book of business. We Insure customers know the value of our agents.

If you’re considering an entry into the insurance industry, it’s important to pick a partner who’s demonstrated an ability to see around corners in the market — and is well-positioned to give you every possible advantage as an agency owner. Our turnkey franchise solution was just recognized as a 2022 Most Innovative Franchise by Franchise Business Review. We Insure has partnerships with the top carriers, and agents have access to more than 150 total markets, to provide customers with the ultimate experience of choice, service and value. And our rapid growth across the U.S. is a testament to how our customers and agents feel about us.

Learn what all the fuss is about and be a part of the future of insurance. Contact We Insure about franchise opportunities in your area.

Sources

https://www.forbes.com/sites/alexlazarow/2019/12/03/which-insurtech-distribution-model-gets-it-right/?sh=5401d89629c8

https://www.orlandoweekly.com/news/uninsured-flood-losses-from-hurricane-ian-expected-to-top-10-billion-32653705