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
We help insurers optimize business processes and modernize their technology solution architectures. Our team is comprised of more than 150 seasoned business and technology consultants with deep experience in the Property and Casualty and Life Insurance industries. Centric’s Insurance Practice provides comprehensive solutions to the greatest industry challenges, ensuring stability and success that lasts.
About our Marketing Operations Practice
We build solutions that make marketing work. The intersection of Marketing Technology, Sales, and traditional IT can be complex due to varying departmental priorities and diverse technologies. Centric’s Marketing Operations team can help identify requirements, create the roadmap, and build the needed solutions and integrations to ensure that marketing operations work seamlessly and at scale.