- Consumers are adopting e-commerce and digital self-service faster than ever
- Insurance agents are vital to building the best solutions for their customers, but they need new tools in the new era of social distancing
- Nationwide Express gives Agents the power to quote multiple products in as little as two minutes
“This has been the most rapid widespread adoption of [online commerce, mobile and contactless payment] technology since 2007 when Steve Jobs rolled out the iPhone.”
Those are the words of Hal Lawton one retail CEO quoted in The Wall Street Journal recently. Insurance agents need to make certain they are ready.
The COVID-19 outbreak has changed the way consumers are purchasing—practically everything. The pandemic has forced companies to alter business practices in ways they probably never imagined. The result is a rapidly accelerating digital transformation, and the world as we knew it may never look the same again.
Successful agencies will adapt or get left behind.
“The role of an independent insurance agent is as vital as it ever has been, but it’s evolving too,” said Jeff Rommel, Senior Vice President of P&C Sales & Distribution at Nationwide.
An accelerated digital age of insurance
Even pre-pandemic, the days of agents selling insurance face-to-face with a customer were becoming fewer and further between. A digital transformation was already underway for a lot of agents looking for options to meet consumers online.
To address agents’ need for speed, Nationwide introduced an innovative new technology platform Nationwide Express in the fall, that enables agents to quote policies for auto, homeowners and renters insurance in as little as two minutes. Agents can tailor coverages, bind and process payment and trailing documents in a fraction of the time it took them before.
Empowering agents with customizable Nationwide Express sites
Now, Nationwide is working with agents to create customized Nationwide Express websites for their agencies, which they can use to reach and sell to customers during social distancing 24/7.
“We have accelerated our Nationwide Express capabilities to help agents rapidly adapt to the new normal,” said Rommel. “It has generated a lot of enthusiasm from agents who are excited about this easy plug-and-play solution with their online presence. Interested agents can work with their sales managers to learn more about this technology.”
The customized sites utilizes Nationwide Express features that allow customers to complete the full sales process online—quote, bind, pay—anytime, with the assurance that they have a trusted local agent if they need help. Agents can link to that site on their website, post it through a partner’s website or share on social media.
Rommel emphasized the importance of accelerating digital tools to agents during this critical time when a consumer’s adoption of technology is being fast-tracked. SmartMiles® will be the newest addition to the Nationwide Express platform in the coming weeks. SmartRide® is already available on the platform. This will give agents the ability to leverage usage-based insurance programs like SmartRide® and SmartMiles® to help customers save by finding the right insurance options that matches their driving habits.