Have you found yourself wondering what some of your colleagues have been doing to expand their business amidst the pandemic? Or maybe you have maintained success during the pandemic, but still face restrictions with the in-person contact needed to properly network. In this article we will discuss how the proper insurtech solutions can make your business “pandemic-proof” and prepare you for the future. Let’s start by briefly highlighting the main issues that accompanied the pandemic and how it affected insurance professionals.
The Pandemic and Insurance Professionals
When the pandemic was at its peak businesses were forced to close their offices to adhere to safety guidelines, in-person networking became obsolete, and the entire workflow of industry professionals had to be altered to accommodate the new world that the pandemic created.
The demand for insurance remained, but not everyone was prepared for the insurance agency technology needed to facilitate the business under an entirely new standard of living. Yet many industry professionals quickly learned and adapted to the resources provided by insurance innovators that would prove to be the lifeboat in the ocean of a social and economic crisis. Next, we will explore what innovations were used to sustain insurance professionals that are now the standard of doing business.
How did insurance professionals sustain during the pandemic?
Luckily, the insurance industry is here to stay. However, the methods in which we do business will continue to evolve to meet consumer standards and business needs. The pandemic was a perfect example of this. Insurance professionals were forced to lean on an insurance distribution platform to work around local restrictions and maintain safety.
By maintaining a working knowledge of the latest insurtech trends and innovative technology to make your day-to-day routine more efficient, it becomes easier to evolve with technology standards when the unexpected happens. This is also how insurance professionals were able to sustain during the pandemic. Then, the use of automation technology through AMS integration changed the standards.
Automation technology allows you to take manual tasks and complete them digitally in a fraction of the time. This for many insurance professionals, was the bridge between the conventional method of doing business and the “new normal” that kept insurance businesses thriving. Even more, consumers have become more tech focused. Therefore, the innovations associated with insurtech are essential for delivering a better customer experience with a streamlined workflow. Let’s now look at the innovations that are most relevant to you being able to maintain success post-pandemic.
Innovations relevant to YOUR success
If you are serious about cultivating a solid foundation for your business – the technology that you invest in is the key. The expectation for business transactions has evolved into focusing on being quick, accurate, and pleasant. All of which can be accomplished by taking advantage of the insurtech solutions available through automation.
Appulate for example, provides a digital platform that serves as an ecosystem for agents, carriers, wholesalers, and MGAs to do business digitally. This form of automation technology is what creates a strong foundation for business to withstand international crisis such as the pandemic. Automation technology like that offered by Appulate allows insurance professionals to complete all of their normal tasks with a few clicks of a button. Envision your day with a more streamlined workflow and the ability to:
- Generate INSTANT quotes.
- Digitally submit a loss run request letter.
- Digitally expand your distribution.
- Utilize FormsFiller tool to eliminate rekeying data.
- Access fillable ACORD and Supplemental forms.
- Freedom to utilize the best automated submission type for your insurance submissions.
These business enhancing features and tools are now essential. Having access to technology that allows you to efficiently enter client information, generate a quote within seconds, and tap into necessary markets and lines of business digitally is the only way to thrive in the “new normal”. Completing the submission process in a more streamlined way will alleviate tons of stress while catering to the post-pandemic needs of the industry.
Now with a better understanding of how the proper innovation can simultaneously make your business “pandemic-proof” and prepare you for the future – we encourage you to schedule a free demo with the industry’s leading insurtech company, Appulate and properly equip your business to be resilient.