Using Technology To Drive Sales
Today’s environment is digital. Of course, that’s not breaking news. We’ve been heading in this direction for years. The pandemic just pushed the need for technology solutions to be developed even faster. And regardless of your industry — from insurance to retail to delivery and everything in between — as tech lovers our time has come.
So, the question is, “How do we keep creating better, faster and more user-friendly solutions that drive our business?”
For me, the answer has been to make technology a foundational part of everything we do. Just before the pandemic hit, I joined an insurance brokerage looking to offer paperless solutions for some of the simpler products they offer. When I started, our financial professionals had several different carrier platforms to choose from. If they started on one and later found out another carrier would be better, they were forced to start over — sometimes more than once. Not a good experience for the professional or their client.
Our solution? One universal application and process for all carriers. This process optimizes data we already know (such as the advisor’s name, agent number andclient’s info) so not only does it avoid any duplicate entry but greatly shortens the process.
A quicker result and a more streamlined process gives the client more confidence in what they are buying, and it deepens the client’s relationship with their professional. As an added win, our company can place more cases at a lower cost per case than ever before.
Our universal application, Ash Term Express, is supported by a suite of APIs. This is a critical feature that allows us to integrate with partners more organically. Which allows us to add life insurance to their process making it easier to address and execute on.
After the platform launched, we continued to listen to feedback and adjust.As with all digital solutions we are in a constant state of rapid improvement. We’re working with our carriers to be able to offer exclusive solutions and even better results. By continuing to build the platform out we keep it from becoming obsolete.
The insurance industry is heavily regulated. Each state has their own requirements, and each carrier its own process, which makes it extremely cumbersome. With so many moving parts it’sbeen the main reason to avoid going digital in the past. But I would argue that’s exactly why a digital solution is needed. The more we can automate and connect with carriers and states, the less chance for error. So,instead of trying to put a square peg in a round hole,we created a system from scratch.
I use this example to illustrate a couple of things. First, technological solutions exist to make doing business with us easier, which increases the likelihood of repeat cases. Second, the technology enhances that human touch between the professional and the client— it doesn’t replace it. And third, you need to start with a strong foundation. Sometimes it makes sense to spend the time building from the ground up to create what you need.
As techies, it’s our time to shine. And with a little innovation we can continue to revolutionize the way we do business.