The new year is upon us, and many Independent Insurance Agency owners will use this opportunity to create plans to ensure that 2023 is as profitable as possible. You can devise all kinds of agency resolutions you want to focus on during the year, but most of the time, agency owners think about key performance indicators like sales opportunities, customer loyalty or referrals. Still, while these are vital, it’s just as important to include resolutions relating to new technological advancements.
You can see growth in many different areas when you improve the technology within your agency. Some improvements will help you make each experience better for your customers, while others will allow you to save time and money. If you’re unsure of what tech resolutions to make, don’t panic; we’re here to help!
Here are three tech resolutions to think about in 2023 – they will help you both improve and protect your agency.
Improve Your Cyber Security Practices
It’s no secret that technology is constantly evolving, but many people fail to realize that cybercriminals are also evolving. Every agency, regardless of size, needs to be aware of the risks and take the necessary precautions to avoid having a cyber-attack. If you don’t have cyber security practices in place – or it’s been some time since you last considered this – you should review your current needs and make any necessary updates.
One of the best ways to improve your cyber security practices is to run your team through annual or semiannual cyber security training. According to Verizon’s 2022 Data Breaches Investigations Report, 82% of data breaches involved a human element. If your team is well-trained in cyber security and has bought into a cyber secure culture, your agency will be less at risk. Make sure they know the importance of password security, the different types of cyber-attacks and how to protect sensitive agency and customer information.
Utilize A Managed Services Provider (MSP)
There was once a time when agencies used in-house IT teams to take care of all of their technology needs, but this is no longer the most efficient or affordable way to do things. Now agencies use MSPs to handle most of their technological affairs. MSPs are well-known for their ability to help with any technological needs since their teams are usually full of well-informed experts. They can take care of everything on the technological side of your agency so you can focus more on boosting sales and pleasing customers.
If your agency experiences power outages or natural disasters, MSPs will work around the clock to get you back up and running. They even ensure your data is backed up in case disaster does strike. If you’re worried about cyber-attacks, there’s no better way to protect your agency and its data than by hiring an MSP. They monitor your network security and keep patches up to date to prevent hackers from accessing your information.
Hiring an MSP may be the best thing you can do to protect your agency.
Implement Artificial Intelligence Into Your Insurance Agency
Prepare yourself for the AI boom in 2023. Throughout the past few years, many agencies have utilized AI to boost their profits and customer satisfaction scores, but the uses and benefits of AI will grow significantly this year. In fact, you’ll soon notice AI being used in new and beneficial ways in the health care and automotive industries.
If you aren’t using any form of AI in your agency, you should immediately look into it. You can implement an AI chatbot on your website to provide personalized conversation and help your customers with their questions or needs. Some AI software will even track customers as they peruse your website and offer them product suggestions, which can help improve your sales scores.
The New Year is the perfect time to reset, reevaluate and plan to ensure 2023 is a successful year for you and your agency. If you are unsure about where to start, try implementing some of the tech resolutions listed here. They’ll quickly help you grow your agency and keep it protected from cyber security risks.