Lead generation is a central component of every insurance agent’s marketing plan. If done appropriately, an abundance of potential clients will flow through the funnel and arrive at the desired destination.
Lead generation is essential, but there is still more work to be done. Stopping at lead generation, which many agents prefer, is unproductive. These leads must be followed and cultivated, no matter how appealing the lead creation hook is. Otherwise, they would lose interest and follow competitors who are passionate about chasing them.
Following up on leads is far away from trivial. It isn’t very pleasant when certain leads don’t respond. The process will also eat up your time, stress can weigh you down, and you will eventually lose steam.
You will ultimately consider and carry out the “give up” option.
Follow-up Automation ensures that you never reach the point where you think about giving up after investing substantial funds in the beginning follow-up procedure.
What are Automated Follow-ups?
Automated follow-ups are pre-scheduled communications sent to potential customers or clients using automation tools. Automation tools allow businesses to set specific triggers, such as after a meeting, purchase, or no response, ensuring consistent engagement and reducing the need for manual tracking.
Follow-up automation empowers you to put your energy into the most important areas of your business.
Note: It is not always easy to remain in the minds of receivers after your initial contact.
Why is Follow-up Automation Important for Insurance Agents?
Insurance agents are in a rat race to grab as many clients as they can out of the pool. If you are one, follow-up automation can turbocharge your hustle, and give you an edge over the competition.
A highly beneficial ship. “Follow-up is Never a Choice, But a Necessity”
Let us justify it with data.
According to follow-up statistics, only 2% of insurance sales are closed after the first contact, and 95% of insurance leads are converted after the 6th contact. Hence, follow-up is as important as eating to stay alive for any insurance agent.
Automated follow-up leads through text, ringless voicemail, and phone calls to maximize time and improve productivity. According to research published in the Harvard Business Review, businesses that follow up with leads within an hour have a 7x higher chance of qualifying them than those that wait even two hours. Automated systems ensure that insurance agents can promptly respond to queries and follow up on leads, increasing customer engagement.
The lead conversion rate of insurance companies that use automated follow-ups is over 79% higher. Insurance agents are more likely to close deals and make sure no prospects slip through the holes if they follow up with leads quickly and frequently employing automated solutions.
Furthermore, an agent for an insurance company predicts responses when they choose to pursue a lead. You must respond to the majority of these responses, which are inquiries. Because of this, following up is more tedious than lead generating. Acquisition of leads is one-sided; nurturing them requires communication.
Fortunately, the follow-up automation tool has an auto-response function that allows you to answer messages right away. To avoid missing out on chances to close deals with new customers, insurance salespeople continue to use their autoresponder even when they are asleep.
How is Automation changing the landscape for insurance agents?
Automation has taken the insurance industry by storm, shaping it more drastically than hitherto envisioned. From quotation to claims processing, agents are using AI-powered automation solutions to simplify and improve their workflow.
Automation solutions allow agents to deal with higher claims, produce more quotations, and deliver better customer service all at the same time.
Let’s look at some of the ways automation is changing the face of insurance sales, as well as how agents might benefit from it.
- Insurance agents use automation technologies to simplify the policy-selling process, freeing up time for customer service and relationship building.
- Automated workflow technologies allow agents to swiftly assess customer needs and create customized product offerings.
- Automation also helps eradicate errors in submissions, claims, and policy management, which saves time spent resolving differences.
- Automation allows agents to quickly retrieve and assess customer information, ensuring that policies remain in compliance with all relevant laws.
- Automation and artificial intelligence make it easier for insurance agents to locate, target, and engage potential customers digitally.
- Furthermore, automatic systems can aid agents in detecting fraud. Automation technologies can sort through large amounts of data to detect suspect activity, such as duplicate policies or fraudulent claims.
- By integrating automation and AI into sales cycles, insurers may automate operations such as creating projections, proposals, contracts, and so on, giving buyers a seamless digital experience from start to end.
Conclusion
In the world of insurance, time is a key resource, and agents who haven’t discovered a means to maximize it or produce more of it will be forced out of the competition or put to the bottom. Automation is the future; it’s a race against time and a war for clients who are readily influenced by rewards.
Fortunately, FlowUp comes to the rescue, allowing every insurance agent ample time to produce more leads, plan and execute campaigns, ease, strategize, and stay energized at all times.