4 Myths about Digital Transformation in Life Insurance

Myth 2 It’s complicated to digitize the way I do business.

Fact: Partnering with the right insuretech provider makes it easier. Many agents are concerned they need a technical background to succeed online, and worry about having to learn a new sales platform. Some may wonder if an online process would present too much of a learning curve for their clients—and whether they would be able to help their clients resolve any issues. What to look for: speed & simplicity. The right insuretech partner can present agents with a system that’s easy to use, backed by a team that’s ready to help. “Agents are often surprised when we sign them up, because it only takes five minutes to become an agent partner, and they can quickly generate quotes and get coverage for a client in as little as 10 minutes,” says Troy Thompson, chief actuary at Ethos. “Prior to Ethos, agents and agencies would have to wait days or even weeks, with lots of paperwork and wait times for processing, to solidify a partnership with a provider. But we’ve made the entire process simple, easy and fast for all involved.” The right partner should offer a comprehensive platform of tools and support that makes digital sales easy. Look for online quoting tools, performance insights, sales strategies, and marketing support that make it easy to apply your selling skills to the digital world. Finally, look for a sales process that leaves you and your customer in control. For instance, Ethos lets you provide your clients with a personalized quote, see exactly what they see, and help them complete the application in minutes.

“Agents are often surprised when we sign them up, because it only takes five minutes.”

Troy Thompson Chief Actuary at Ethos

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