Using Technology to Acquire and Retain Insurance Customers

Korsgaden International pic
Korsgaden International
Image: Korsgaden.com

Since 1989, Troy Korsgaden has led Korsgaden International, a California-based agency that advises large insurance carriers. Alongside his activities as a consultant, Troy Korsgaden frequently writes and speaks on topics related to the insurance industry. He recently wrote an article for Advisor Today about how technology can support basic marketing strategies.

Technology plays an important role in many people’s lives. Not only does it provide a way to socialize with friends and family, but it also enables people to connect with businesses and service providers. In the insurance industry, making connections is a crucial first step to building a client base, but it’s also important to continually follow up with customers to ensure their needs are being met. Fortunately, there are technological tools available to help with both tasks.

While it’s always best to make initial client connections in person, technology can help insurance providers be more effective at reaching the right customers. Data analysis tools can assist insurers in segmenting potential clients based on what type of product they may be interested in and how much they may be willing to spend on coverage. These tools save insurers time by enabling them to be more strategic in their approach to new customer acquisition.

Once an insurer has acquired a customer, he or she must maintain consistent contact to provide the best customer experience. One of the most effective ways of doing this is via a Web-based communication portal that customers can use to check on insurance rates and eligibility and reach out to their carrier with any questions. It’s also a good idea to add a live-chat function to the portal and produce weekly or monthly emails to update customers about information that may impact their coverage.

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The Importance of Relationship Building in Business

 

Troy Korsgaden
Troy Korsgaden

A consultant with Korsgaden International, Troy Korsgaden has given a number of presentations to insurance carriers with the goal of helping them to achieve growth. An author, Troy Korsgaden wrote an article in 2018 titled “How Technology Enhances Our Ability to Execute Basic Marketing Strategies.” The article advocates for a technology-informed marketing strategy that begins with building personal relationships.

Developing face-to-face relationships is one of the most crucial elements of an effective marketing strategy. There is no substitute for taking the time to understand what potential clients need and convincing them in person that a particular agency or individual can best meet their needs.

Face-to-face interaction can help to build trust between a client and an agency. Clients who have met an organization’s employees tend to have a more positive impression of a business and are more likely to turn to it when an additional need arises.

According to a recent Harvard Business Review article, a face-to-face request is 34 times more likely to create a positive response than an email request. This can prove beneficial if a company intends to ask a client for a referral or offer a new service.

Cultivating relationships has become even more important in the digital world, where many interactions have become automated. Savvy companies understand that these tools have value, but not in spaces where relating to potentials customer is the goal. Instead, companies can automate appointment scheduling, data capture, and other logistical tasks so that their employees can focus on developing strong relationships with clients.

Specialization – The Master Key to Agency Transformation

 

What Organizations Can Expect From Korsgaden International

 

Korsgaden International pic
Korsgaden International
Image: Korsgaden.com

With more than 30 years of experience in the insurance industry, Troy Korsgaden is a consultant, author, and speaker. In 1992, he founded Korsgaden International, a company that helps insurance agencies grow and become more profitable. One way the company accomplishes this is by providing trainings and presentations on these topics. Troy Korsgaden’s industry knowledge and ability to connect with people makes him a sought after speaker for insurance agencies.

Mr. Korsgaden offers a customized approach that ensures organizations get the presentation that best suits their needs. The process begins with an initial consultation to determine the best format and topic for the presentation. Presentation options range from a keynote address to small breakout sessions. Presentations are designed to provide maximum value for event organizers and event attendees.

Troy Korsgaden can speak on a wide range of topics, including marketing, leveraging technology, and finding and retaining customers. After the event is over, event attendees are granted access to event materials and bonus webinars. This process is designed to provide a maximum return on investment for event attendees who gain a wealth of relevant information within a short period of time.