How can insurance technology help build relationships between agents and their clients?
Chris Cline, the Executive Director of the Agency Council for Technology (ACT) at the National Big I, recently sat down for an interview on the And I Quote podcast. Host Bobbie Collies talked with Chris about his background, current role, and his thoughts on how the insurance industry has evolved over the years.
Chris has been a part of the insurance industry for over 28 years, beginning his career as a graphic designer and working his way through marketing, sales, and compliance. He has a passion for helping independent insurance agencies, and that’s what drew him to his current role at ACT. In this role, he brings together carrier technology partners, agents, brokers, and other organizations to talk about meaningful topics and find ways to use technology to solve the problems that insurance agencies face.
According to Chris, five years ago, there was a lot of fear surrounding technology and insurance agencies, with many new technology entrants viewing the traditional agent distribution model as outdated and not adding value. However, as technology has matured, new entrants have come to understand the economics of the insurance industry and have started to package solutions that solve meaningful problems with a positive return on investment.
There has been an increase in customers seeking cyber insurance, and this trend is likely to continue. Chris added that the rapid pace of change in technology can be overwhelming and that some people may be resistant to change. He suggests that it’s important for insurance agents to embrace the change and to understand the importance of technology in their industry.
Chris goes on to discuss the impact of technology on the industry and how the best-performing insurance agencies are using technology to improve their business. He suggests that before investing in new technology, it’s important to have clear business goals, a clear understanding of employee roles and expectations, and a well-defined process for measuring success. Only then, he says, can agents start to look at the technology solutions that can help bring their goals to life.