Ukr Insurance found out that according to the study of Fuel Cycle, insurance brokers need to make digital tools a key part of their business arsenal. In other words, almost half of the survey participants (48%) make their choice of insurance companies or insurance programs using digital products (chatbots, price scan platforms, information and service tools).
When choosing a car insurance, for example, or property or health insurance, a potential client spends up to 3 hours on average, exploring suppliers and choosing the most suitable insurance product.
In "informed buyer" era the insurance brokers should consider their role as more advisory and realize that they are no longer the first "contact point".
"Agents need to be open for online business operations. This includes being on social media and using online consultations through mobile apps and chats," said Nick Chadwick, a higher senior officer at Fuel Cycle.