That “time is money” is hardly a new concept, but the axiom is increasingly true around the sale and servicing of P&C insurance. As agents work with increasingly impatient consumers and policyholders, the speed with which carriers respond to agents’ needs becomes a key differentiator. If carriers think of their agent portals as sales and servicing tools—for themselves and their agents—it becomes clear why sluggish response times from carriers are a major agent aggravator.
Carriers must be expedient across the entire policy lifecycle—from automating the new business process, thus reducing the cost to gain new business and increase agent and policyholder satisfaction, to improving claims handling efficiency for lower total costs and happier customers.
Frontline agency reps are always looking to do best by their customers on a range of criteria (price, coverage, etc.). That said, a carrier’s ability to deliver fast, accurate new business quotes and offer quick, convenient self-service capabilities are major factors for agents as they choose where to place a new piece of business.
Learn what agents consider acceptable (and unacceptable) turnaround times from carriers and much more in Agencyport’s new eBook: A P&C Carrier Guide to Boosting Agent Loyalty: 10 steps to more and better business from the agent channel.