Our Insurance and Marketing Operations experts explain how insurance marketing can lead to agent retention.
The relationship between insurance carriers and their agents is one that should stand the test of time. However, few make it past the honeymoon stage. In fact:
- According to the Life Insurance Market Research Association, 92 percent of all insurance agents leave the industry to pursue other opportunities.
- Eighty-nine percent quit within three years. And 30 percent of new hires are gone within three months.
- To make matters worse, a quarter of the insurance industry workforce is expected to retire by 2018, leaving behind a potential deficit of 40,000 positions.
As we talk with our insurance clients, many attribute low agent retention to onboarding strategies that fail to nurture agent learning in those first, crucial months of employment, or engage them for long-term success.
Current onboarding programs at many insurance companies leave a lot to be desired. Agents want an onboarding process that provides more education, technology, and customer touchpoints, with fewer challenges, time, or regulatory requirements standing in the way.
Agents are the most important component of an insurance business transaction, but are you making sure they have what they need to succeed?
Read our three-part blog series about our solution to inefficient agent onboarding and engagement processes – marketing automation – and how it can help you and your agent live happily ever after.
Read the Series:
- Part 1 - Insurance Agent Onboarding: Nurture Relationships to Overcome Retention and Engagement Challenges
- Part 2 - Insurance Agent Retention: Grow Relationships and Improve Engagement with Marketing Automation
- Part 3 - Agent Engagement in Action: Insurance Marketing Automation Best Practices
