In the insurance industry, independent agents face a natural disadvantage compared to captive agents. Agents operating under captive insurance companies are likely to be bigger in number, unlike the average independent insurance agency. According to a 2022 survey of independent insurance agents we conducted with Semsee, roughly 66% of independent agencies are made up of 10 employees or less. Usually, independent agencies are operated by 5-6 staffers who may not have the bandwidth to answer a prospect’s call as soon as it comes in. This is what we call the producer availability problem.
We set out to tackle the challenge that impacts the entire IA industry: how to increase your book of business without increasing your number of producers or time spent in the office. Here’s how we’re doing it.
Claim-it: Uber of the insurance industry
Consider how a captive insurance company operates when a prospect calls. With thousands of agents available at any given time, there is always someone on the other end of the line with the bandwidth to discuss the prospect’s coverage options. Our vision for independent agents is very similar.
Now, think of your favorite rideshare service, like Uber or Lyft. When you need a ride, you simply enter your trip details into the app, and your ride request goes out to several drivers in the area. If one driver is already occupied with a passenger, no worries—another driver in the area is available to help you reach your destination. Once the driver accepts your trip, your trip details become unavailable to all other drivers. Claim-it is a patent-pending opportunity distribution system that employs the same model, except for independent agents. This is the model which will solve the producer availability problem.
How does Claim-it work?
Like a rideshare service, agents will receive a text notification that an active, high-intent, appetite-matching insurance prospect near them has requested to speak with an agent. This notification includes general details about the coverage the prospect is looking for, like business lines, insurance type, location, etc. If an agent is already with a customer or does not have the bandwidth to accept, they can opt to decline the Claim-it Referral, and it will be picked up by another appetite-matching agent in the area.
If an agent has the availability to accept the Claim-it Referral, they get instantly connected with the prospect, and the prospect’s referral information is removed from the agent pool. The exclusiveness and timeliness of Claim-it Referrals heighten the odds that the agent will win the account. Claim-it is designed to give producers the option to accept or decline based on their availability and to never leave an insurance prospect hanging.
How do I start claiming?
Claim-it is exclusive to Advantage Professional and Advantage Producer subscription holders. Not only will you get exclusive access to Claim-it when you become an Advantage Professional subscriber, but you’ll also stand out as a top insurance authority on our National Directory of Independent Agents, get a fully customizable Advantage profile, be recommended to local prospects across thousands of insurance content pages, and so much more. Learn more about Advantage Professional and Advantage Producer or purchase your subscription here.