Key questions for Agents to consider: How is your agency positioned to sell, service and support this new generation of customers and underwriters in a real time, any time, anyhow environment?
By the year 2010, there will be approximately 64 million baby boomers retiring and replaced with 78 million new breed of consumers of insurance products In the next 10 years, this new customer will represent 45% of the population. (www.censusbureau.gov)
The agency business model is centered on relationships, trust, and service. The evolving customer and underwriter/carrier models are different, based on different expectations and increased service demand levels. This new generation is technically savvy and expects paperless transactions using things like e-mail and web self service with 24/7 responsiveness. The new generation of underwriter will be either semi- or fully-automated with real-time processing and servicing and de-emphasis on long-term relationships.
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