Upwardly mobile: Why agencies need mobile apps

The world around us is becoming more mobile. According to Pew Research Center data, 85% of Americans own a smartphone as of 2021, compared with 35% in 2011. Nearly 73% of dollars spent on online purchases happen on a mobile device. Mobile-powered businesses are gaining more influence with consumers.

An effective — and sometimes overlooked — way to make your agency more competitive in an increasingly fast-paced digital world is through a mobile app. Some of today’s best mobile apps are used from everything from needs analysis and quoting to e-ticket submission. Some apps even allow real-time push notifications to keep agents informed of new products, case status updates, and events such as webinars and in-person meetings.

Let’s explore a few of the top benefits mobile apps can provide your agency.

1.     Superior agent recruitment

A mobile app positions your business as technology-forward. Today’s best agents and advisors are looking for the brokerage that uses modern technology to its potential. And for tomorrow’s best agents, even more so.

A powerful mobile app can be the centerpiece of your marketing efforts. In fact, one brokerage credits its mobile app for the recruitment of more than 1,000 agents in three years. Their app, which provides life insurance quoting, is free to download. The brokerage promoted their quoting solutions and followed up with agents who downloaded as a result. They recruited hundreds of new agents every year.

Plus, a mobile app can allow your agents to get paid faster by doing business in the field. That’s a selling point for your producers that is hard to ignore.

2. Do business anywhere

A mobile quoting and e-ticket app empowers your producers to do business virtually anywhere. At a dinner party. On the golf course. In an Uber. These are not made-up examples. Each of these scenarios has actually happened. This kind of opportunity transforms how your agents and advisors sell.

The most advanced life insurance mobile apps can bind cases within minutes. Automated underwriting sometimes can provide a decision during the very first conversation with a client.

Think about the cascading benefits of doing business on mobile. In some cases, carriers may even have instant issue policies, meaning the agent gets paid faster as well. Now your producers have stronger incentives and more effective sales tools. And both the agent and client have enjoyed a painless sales process.

3. Exceed client expectations

To today’s consumer, the traditional application process is jarring. Multiple in-person meetings to complete an application? Waiting weeks or even months for a decision?

Customer expectations are changing. Most consumers expect a streamlined digital process that provides a right-now experience like what they get from consumer services such as Amazon and Netflix.

The producer who digitizes and streamlines the process has an opportunity to stand out. An effective mobile app equips your agents and advisors for the fast-paced landscape and high expectations of busy consumers. Fewer meetings, faster decisions and a digital-first experience.

If you have never considered a mobile app for your brokerage, you are running out of reasons not to. You have the chance to position your agency as modern and innovative and recruit forward-thinking agents. You can equip your producers to do business anywhere — Ubers and golf courses included. And you have the opportunity to please your clients with a sleek and customer-centric digital experience.

Lasse Ljung is vice president, strategic accounts, with Insurance Technologies. He may be contacted at [email protected].

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