NAMIC keynote presentation

NAMIC

2014

Digital Darwinism

Digital Media

Social Marketing

“To be first in the mind of the consumer when they realize they have a problem and

need to find a solution”

“Is being where the consumer is when they search online for a solution to a problem”

1. Marketing Finding the audience

Need to partner with 3rd party companies that know how to help agents

1. Many offer traffic to website.1. This is not good for great clients

2. Locate agents willing and able to learn and give those agents subsidized packages

3. The agency needs strategy 4. They need to be able to connect the

dots5. Trustedchoice.com , GROW, and others

Create content that is branded for agency

1.Tying the brand of the company into the audience of the agency, while helping the brand of the agency reach that audience

2. hancocknext.com

2. TechnicalProviding tools and process

Consumerization

Is an term used to describe emergence of info. technology

1. First in the consumer market or behaviors2. The into business, products, and behaviors

In years past many technology-based products have had their beginning in the defense & business markets

1. Fax machines2. Calculators3. Mobile Phone4. Desktop computers

Consumerization

First, products that were designed for the consumer, are now appealing in the workplace and demand of the products are increasing .

Consumerization

1. Second, “No one cares how much you know, until they know how much you care”…

2. Getting employees to share & use productive and enhancing consumer technology at and away from work will be a wise strategy. 3. Creates a window that shows

transparency, builds trust, and your brand.

Tools needed1. Content

1. Sharable material1. Apps2. Graphics

2. Blogs1. Agents to end consumer

1. Blog writers to copy and customize2. Company to agents

1. Education from underwriters or assistance to agents

2. Direction and guidance – company & agents1. Starts at top down

1. It has to be buy-in from the CEO all the way down.1. Territory Reps. have to be educated

2. It has to become part of your culture2. Put together an action plan for agents to take. 3. Keep it simple

Technical staff

1. Technical staff I have never in 13 years had a company technical person come visit my agency

2. Need a team of IT1. You need a team of personal tech people

who connect with agents and understand the agency1. Do they or know about :

1. Management systems2. Download PL/CL3. Real-time4. Bridging5. Scanning

1. Companies have to create committee:

1. Share technical workflow success and failures1. ACT is doing this but a hand full of companies can't do it vs

the directs and captives

2. Rising tide raises all ships

Technical staff

3. Sales sell and retain policies

1. Quoting has to be uniform1. Raters today are a good start2. 15 minutes vs 7.5 minutes3. These are the expectation of the consumer

1. They set the bar

3. 12%-16% expectation of quotes1. A ton of business is to be had in the other 85%2. About 24-30 sold policy packages a year

2. Squeeze out companies to gain more share.1. This helps agents and companies

Cools tools

Case Study #1

Facebook iPad or Kindle Fire Referral Contest• Refer friend, family, co-worker, or yourself• Present a quote• Didn’t have to buy, just allow me to present a quote proposal• Entered into a contest to win an iPad2/Kindle (Can use Make-A-

Wish or other non-financial incentives depending on state regulations)

• The referrer and the referee

Contest Period Nov 14 – Dec 31• Drawing January 1st at 12:01am by Video

Upload to All Social Sites

My resultsGenerated 19 Referrals in 6 Weeks!Social & digital referrals only, had others not related to contest

• Didn’t fit agency philosophy of agency 5• Auto/Home• Low limits, etc.

• Prospects given a proposal 14• NB clients from those proposals 11 (78% CR)

Prior Insurance of 11 NB Clients• State Farm 4• Independent Companies 3• Allstate 2• Country companies 2

My resultsPrior Limits of 11 NB Clients • 50/100/50 or 100 4

• Moved 2 of those to 100/300• Moved 2 of those to 250/500

• 1 took UMB

• 100/300/50 or 100 5• Moved 2 of those to 250/500

• 1 took UMB

• 250/500/ 250 Both had UMB 2• Moved one to 500/500 because of underlying limits due to UMB

My results

• Auto/Home Packages All• EFT 10 of 11• Total Policies Written 38 (3.4/Client)• Auto – 11 • Home – 11 • UMB- 5• Dwelling fire-4• Motorcycle - 3• Boat- 4

R.O.I

• Total Written Premium $28,000 FY (34,000 SY)

• Annual Commission $4,200 FY ($5,100 SY)

• Total Expense $1,650 (cost inc. CAP, Adv., iPad2)

• Total Profit $2,550 ($5,100 SY) ($7650 BY)

• Return on Investment 154% FY ($309% SY)

Case Study #2

FB R.O.I Fan review app

• Contest conducted April 13th – April 31st

• Contest Results• 28 reviews Facebook & LinkedIn• 11 referrals• 3 quotes• 9 clients (62% CR)• 26 fans gained from friends

• Ryan Hanley, Independent Agent, Blogger• Agent/Blogger of digital media (Director of Marketing)• The Murray Group Insurance Services, Inc., Albany, NY

• Contest conducted April 23th – May 7th

• New Business Results – • 58 reviews FB & LinkedIn• 28 referrals• 19 quote opportunities• Generated a total of 47 inbound actions!

Case Study #3

Case Study #4• Quote & Referral Promotion• May 6th -16th Drawing on 17th

• Promotion results• 9 referrals• 14 quotes• 19 proposals given• 14 clients (73% CR)

• Financials• Expenses $850ish• Income $5,700ish

Case Study #5• Quote & Referral Promotion• Feb. 3rd – 14th 2014• Jonesboro, AR• Results– 38 People contacted agency– 27 Quotes & referrals (27 inbound actions)– 17 NB clients– 15 PL & 2 CL commercial accounts (Dr. & Garage)– $10,210 in revenue

Numbers• As of 09.12.2014 (53 months)• Thousands of fans, followers, and connections• $394,000 NB social premium• $42,000 NB Personal revenue• $11,000 Life revenue • $131,000 Total revenue PL NB & RN & Life• $29,000 Commercial revenue NB & RN• $191,000 Total revenue NB & RN PL/CL/Life• 98% retention – Rest of book is about 92%

We can’t help them all

Agents numbers will decline

30% in the next 5 years

40-50% In the next 10

Transformation

Unwillin

g to transform

Unable to transform

Unable to change staff

No young people

Just do not care

This is good news for the industry

Jason D Cass618.532.2277 ext 2jason@growprogram.com www.growprogram.com Facebook facebook.com/thegrowprogram Twitter @jason_growLinkedIn www.linkedin.com/in/jdcinsYouTube www.youtube.com/growprogram

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