The End of Brick and Mortar

We are currently in an era where businesses are transitioning to virtual platforms, and the insurance industry is no exception. Many individuals, particularly from older generations, prefer the traditional brick-and-mortar approach, where they can have face-to-face discussions with their agents about coverage options. However, this approach is gradually becoming obsolete as the insurance sector increasingly integrates with technological advancements. But what does this transition truly entail?

Insurance companies now have a stronger online presence than ever before. As a result, consumers are often not well-informed about coverage details and miss the comprehensive explanations typically provided by insurance agents. While there might be a small information icon offering brief coverage descriptions, this is often insufficient, leading consumers to rely on search engines for understanding. Although Google is excellent for finding information, it cannot replace the value of speaking directly with a knowledgeable individual.

How are insurance companies addressing this issue? They are reaching out to individuals submitting online applications to offer assistance. These calls are intended to support you, the consumer. The agent aims to ensure your eligibility for coverage and that the selected coverage is the most suitable for your needs.  

It is quite common to encounter online forms where clients select the highest deductible available, resulting in a deductible ranging from $5,000 to $25,000, without any intention of self-insuring. Unfortunately, due to a lack of consultation with an agent, clients find themselves responsible for these deductibles, potentially leading to a denied claim.

Your agent is adapting to providing you with all the necessary information through phone, chat, or email. This is part of the shift from traditional brick-and-mortar establishments to online agents.

One important aspect that clients often overlook with these new technology-driven insurance companies is their shift away from traditional mail, resulting in significant cost savings that benefit the clients. All processes, including policy signing, are conducted via email. Therefore, when initiating your search, it is essential to have an email address and potentially the capability to text or email document photos to your agent.