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usage-based insurance startups

Podcast Topics

  • What will usage-based insurance startups mean for the independent insurance industry
  • How independent agents can use new tech to their advantage
  • The perks of usage-based insurance
  • How Facebook is influencing independent marketing
  • Why we all need to take a second look at Facebook in 2016

We’re dissecting insurance and media trends today on Agency Nation Radio. Marty pulled out a great marketing article for this episode from the Global FinTech Survey. The survey, titled “Opportunities Await: How InsurTech is reshaping insurance” breaks down the way agents are using new technology and how consumers are responding to it.

You may be surprised to learn that most people don’t respond to new tech as much as we think they do. The trick is to hone in on the one or two strategies that may be working for you and developing those.

But which one is right for you?

Usage-based Insurance

The new developments of peer-to-peer insurance and usage-based insurance are really changing the game for established providers. The people at FinTech recommend surfing the innovation in waves to see what sticks and what works for you as an independent agent. In our opinion, usage-based insurance is going to be the way of the future.

Adding on a few travel protections to your possessions as you go is an easy thing to do, and it’s definitely a way to stay ahead of the rest of the industry as they work to figure out all of this new tech.

“Usage-based insurance is a unique or innovative thing because the industry historically has sort of been in a ‘purchase-once-and-forget’ mentality… I think it’s a real opportunity for the industry because it’s thinking about things in a completely different way than we ever thought about them.” Marty Agather

Something like usage-based insurance will only work if the industry starts to evolve the way it does business.

The systems we have in place require way too much policy paperwork, and it does not work in this culture of instant quotes.

People don’t want to fill out paperwork. They want consumer-friendly insurance sites that provide them with the tools to self-educate and make a purchase. As independent agents, it’s going to be our job to make sure this experience is seamless.

We need to be innovative and create websites and applications that meet our consumers’ needs and create products that align with what our consumers actually want.

What is all of this new tech that these innovations require?

We agree that it needs to be simple, and will most likely succeed as an app that works both on mobile and on the site, but what other trends do we need to consider when it comes to the tech?

Facebook Marketing Trends

Our next topic – an article by Jon Loomer called “F8 2016: It’s a Good Time to be a Publisher on Facebook” – introduces the direction peer-to-peer technology is going and how to integrate it into this industry.

Loomer breaks down each of the updates Facebook released at their conference, including an Instant Article feature. That’s right – there’s no more waiting for outside sites!

Think about how you can engage with your consumers now that they don’t have to wait that 7-8 seconds for your content to load.

“For purposes of growing your business and your sales, it is infinitely more important that someone sees the message…and they can quickly get through it versus having to click a button.” Ryan Hanley

It’s time to start re-engaging with Facebook.

As an independent agent, things like messenger bots, live video, and the new ability to embed Facebook posts directly into your website is going to quickly transform how you connect with your clients.

It will be integral to how you promote your brand and build your reputation, and it’s going to generate more successful and meaningful sales relationships for you and your consumers.

Personally, we use a lot of Facebook Live and see a huge jump in engagement. Tune in now to hear what other tools we use, and leave us a comment on iTunes with your own Facebook experiences!

Connect with Agency Nation on Facebook here.

Thank you,

Ryan Hanley

P.S. Click here to learn more about receiving inbound insurance referrals from

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