Web 2.0 Technologies the Future of Customer to Insurance Agency Communication

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Summary: Founder and president of First Choice Insurance Agency (http://www.fcinsuranceagency.com) sees the future of customer interaction in web 2.0 and other highly interactive technologies. He says a recent study by IBM has important information for insurance agents wanting to insure the younger demographic.

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Jack Morgan wasn't surprised to see that a study by IBM of over 3,000 Property and Casualty (P&C) insurance policy holders found, "younger policyholders are increasingly price sensitive and technology-savvy, and are more likely than other demographics to access a variety of distribution channels including the internet and Web 2.0 technologies such as mobile text and instant messaging."

"Many young health insurance consumers ask to receive quotes via instant message" Morgan went on to say, "At the moment it may only be the occasional consumer who wants to receive a quote via instant message, but insurance agents need to be aware that this is how many younger consumers prefer their communication. Those who are prepared for this change will be the ones that succeed."

Whether it is Property and Casualty insurance or health insurance, the younger demographic does not want to jump on the phone to get information that they expect to be at their fingertips twenty-four hours a day seven days a week. This may be a problem for many independent agents who have traditionally served their customers one at a time over the phone or in their offices.

Morgan said, "I doubt most insurance agencies are ready for this change. Only 25% of major health insurance agencies in Oregon, for example, have an interface for those seeking an online quote. When it comes to individual insurance agencies it is probably closer to 5 percent."

That's why First Choice Insurance Agency is pouring resources into its website where consumers can get online quotes 24 hours a day. According to Morgan this will help consumers come out on top.

"Sure the convenience of hopping online getting a quote and applying for insurance is nice, but when you do that with a lead generation site or an individual insurer, you never hear about plans with lower rates."

An individual insurance agency that embraces web 2.0 technologies gives consumers the best of both worlds, instant quotes and an advocate who looks out for their best interests.

Visit First Choice Insurance Agency at: http://www.fcinsuranceagency.com

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Jack Morgan

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