In focus: It’s only dinosaurs that don’t do digital

The conversation around technology has changed.

It is no longer a matter of whether you want to go digital, but a question of how you integrate a digital offering within your business.

Insurance brokers are becoming more informed about what digital can do for them and their customers, and how they can use it to their advantage. But many still feel they are forced into an ‘all or nothing’ decision when it comes to IT.

In truth that misses the point and prevents brokers and their clients really getting the best out of what the digital world has to offer.

The digital handshake

First impressions last. In today’s increasingly electronic world the first touchpoint with a customer is often when they visit your website. In many instances they will be using a mobile device such as a smartphone or tablet.

So how do you make sure the first impression is positive?

The minimum requirement is to optimise your website for mobile access. If your website is not optimised in this way the text and pictures will be difficult to read and people will leave within seconds.

In contrast, users immediately warm to an attractive and easy-to-view website. It is the online equivalent of smiling and looking someone in the eye when you shake their hand.

Too many brokers have old fashioned websites that have not been updated or optimised for mobile.

They are clunky and make the first online meeting awkward and unpleasant.

Imagine shuffling your feet nervously and staring at the ground when meeting a new prospect.

You would never do that in person, so why do it online?

Building a relationship

Just because you have got an online presence, you do not have to offer a digital version of every service and product you provide.

Instead, the challenge is to ensure that a poor digital offering is not the main differentiator between you and newer, less experienced competitors.

Joe Sultana, managing director at Applied Systems UK, comments: “Brokers are in a great position if they invest in the digital proposition for their new and existing customers, because they are able to deliver the expertise and service that clients want.

“They just need to blend in the digital offering to make sure they are not overtaken by the new entrants.”

He adds: “These new entrants tend to be tech-led and digital-only. While that works in some areas, it does not work in all areas of insurance and there is still a demand for face-to-face and personal contact.”

Brokers are in a great position if they invest in the digital proposition for their new and existing customers, because they are able to deliver the expertise and service that clients want

Joe Sultana

Compete

Many brokers do not want to compete on their online, transactional capabilities.

Instead, they want to make sure they can offer customers a digital proposition that supports rather than replaces what they do through other channels.

“We do not like the concept of online quoting or the concept of the large aggregators and the way they operate,” says Dan McDonald, commercial director at Everett Mead.

“We are more hands-on, but we want the ability for clients to be able to log into our website, go into their own secure area, see their documents, contact us, report a claim and so on. That is invaluable, and it gives us a 24/7 presence with clients.”

He adds: “Our clients like the fact that we pick up the phone and speak to them. They can come in and see us. They might not want to buy purely online, but what they do want is the ability to access their documents and their data.”

Digital functionality

Without this digital functionality, brokers lose the ability to remain in contact with their customers.

Many people want to access documents, send messages, or ask for additional information out of office hours.

They do not necessarily want or need an immediate response, but they do want to know the matter is in hand and will be picked up. 

We thought an online document portal would be good for new business and emerging clients, but we are getting 70 and 80-year olds replying to our emails and asking for login details

William Cooper

Older customers are learning new digital tricks

It is also a mistake to believe this sort of digital capability is only valued by younger customers.

Octogenarians might, on the whole, be slower adopters of technology, but they have long-since crossed the threshold of visiting websites, communicating electronically and wanting online access to their data.

This is a point that William Cooper, managing director at Stanhope Cooper is keen to make.

He explains: “We thought an online document portal would be good for new business and emerging clients, but we are getting 70 and 80-year olds replying to our emails and asking for login details. It is just part of the daily conversation.”

If brokers do not provide this sort of digital functionality, they are limiting the timeframe in which they can communicate with customers.

They are reducing the choices customers have, and making the relationship less convenient.

It is hardly a recipe for success.