National Insurance Awareness Day reminds the public about the importance of insurance and aims to encourage talking to insurance agents about policies. If you work in insurance, you are likely well-versed in this topic. However, managers – are you just as aware of the importance of understanding the phone behaviors of your agents as you are of the importance of insurance itself? Secure success with your insurance agents before open enrollment rolls around by understanding their daily selling activities with a sales enablement tool.
Decrease in Turnover
Almost half of the insurance agents work remotely or outside of traditional offices. In fact, the number of life insurance agents working remotely recently increased by 103%. As a result, sales leadership often struggles to accurately measure agent-to-customer interactions, ensure accountability to their agent’s activity goals, and reduce regulatory risk outside of the contact center.
In the industry, agents face a turnover rate of 85%. This rate is a true reflection of management’s ability to prepare and train agents. The number one way to solve this lack of visibility into agent behaviors – and improve individual agent effectiveness – is by implementing a sales enablement tool.
With sales enablement, agent activity is automatically and 100% accurately captured and reported at a manager’s fingertips, no matter the location of their agents or devices used. There is no guesswork, and the visibility gap between agents and managers is resolved while agent flexibility and remote work options are preserved.
To improve turnover rates, managers can use the data provided by a sales enablement tool to identify patterns of successful behavior and from there establish benchmarks of success for their sales teams. Further, managers can better coach and train their agents with real, accurate data that is proven to be successful and even increase the effectiveness of their agents by 15%.
For large, dispersed teams, establishing a culture of accountability is vital to creating accurate sales forecasts and reaching your numbers for the month, quarter, or year. It is no longer enough to rely on error-prone, manually input CRM data in today’s highly mobile, decentralized sales environment.
Insurance is important for health and life security. Similarly, so is sales activity data for the security of your organization, and reassurance that the daily activities of your insurance agents are in fact driving revenue generation.