Why it's important
Insurers are changing the way they interact and engage with customers to meet the growing adoption of digital channels. From underwriting to fraud and claims management, the insurance market is embracing digital platforms, with the leaders benefiting from improved productivity, cost efficiencies and better customer experience. The Agency Distribution Benchmark helps insurers to understand key topics driving agent performance such as:
Agent network performance overview:
- Effectiveness of your sales funnel compared to peers within the agent network
- Customer acquisition through the agent channels
- Agent network cost structure and commission levels
Productivity enablers:
- Network set up and support structure effectiveness
- Agent servicing request process and management
- Customer reachability and alignment between networks and insurers
Digital integration:
- Registration rates for online policy or claims services, compared to peers
- Proportion of leads generated through digital channels and passed on to agents, relative to peers
- Assessment of data management and analytics usage capabilities
Multichannel context:
- View of agent network usage in comparison to other channels
- Holistic view of overall distribution performance and drivers by channel
What the study provides:
- Analyzes your position against relevant local and regional peers
- Using our unique data methodology, identifies improvement opportunities at the most granular and actionable level. Isolating performance to each line of business and accounting for differences in strategy such as regional focus, network size and additional agent characteristics
- Develops an action plan to accelerate performance improvement
