Driving Growth by Optimizing the Health Agent Experience

by Tom Scales, February 27, 2017
Industry Trends
North America

Abstract

Agents support digital investment by insurers.

Celent has released a new report titled Driving Growth by Optimizing the Health Agent Experience. The report was written by Tom Scales, a Research Director with Celent's Insurance practice.

Carriers all want to know where they should invest in technology and functionality to drive agent production. Celent surveyed agents to find out what matters most to them, what causes them to choose one carrier over another, and where carriers should invest in order to get a larger share of the agent’s book of business. This is a companion report to a one published earlier in the year. This report focuses on the health business.

This report shows that agents want strong products and outstanding service. They see the need for investment across the technological and digital arena.

Agents want good service for their customers, class-leading products, and improved technology. The agents rate their insurers highly across the board, with some areas for improvement. Overall, the agents want access to more transactions online.

“Agents want competitive, marketable products, both from the perspective of price and compensation,” said Scales. “They also want the insurers to offer excellent service to their customers, which is encouraging.”

“It is encouraging to see the support the agents give to insurers’ investments in technology. They strongly support an improved digital experience for sales and service,” he added.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

 

Key Findings

1

Introduction

2

 

Key Research Questions

2

 

About the Report

2

Survey Demographics

3

 

Agency Demographics

3

 

Personal Demographics

5

Factors in Insurance Company Choice

9

 

Functional Capabilities

11

Top Carrier Performance

14

What Can Insurers Do Better?

17

Where Should Insurers Invest?

19

Next Steps for Insurers

22

Leveraging Celent’s Expertise

23

 

Support for Financial Institutions

23

 

Support for Vendors

23

Related Celent Research

24

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