THE BUY BUTTON
By Robert W. Hansen, Jr.
President, PIA National
in or out of the office.
nevertheless want their agents to be fully
Enabling customers to bind coverage on
capable digitally.
ago, independent insurance agents could
an agent’s website creates an opportunity
More than 50 agents, carriers and vendo more than they are able to do now. Back
for agents to reach a segment of business
dors attended the session. Attendees heard
then, in the era of manual rating, when a
that independent agents currently don’t
from three panels: a technology panel,
customer came into the agency we could
maximize. Any policy that could be bound
agent panel, and wrap-up panel consisttake out the manual, jot down and add up
by a customer would be owned by the
ing of carrier, user group, and vendor
the premium, bind the policy on the spot
agency and subject to filtering of forms and
representatives.
and send the customer home with an ID
limits, all set in advance by the agent. This
Prior to the meeting, serious concerns
card.
concept would be used in conjunction with
had been expressed by some agents that
The agent was in control. But since the
a comparative rater. Follow-up contact
enabling customers to bind on the agent’s
advent of predictive modeling, we’ve lost
from the agency to customers who have
website—in the absence of the agent—
our ability to bind. Now, we must exit our
bound a policy on the agency’s website will
would undermine the agent value proposiagency platform and access multiple carrier
enable upselling and cross-selling, within
tion. As discussions occurred during the
platforms.
hours.
meeting and subsequently, these concerns
Most agencies around the country
“Adopting and implementing the
were addressed.
represent maybe a dozen carriers. Once we
Buy (bind) Button concept is a business
leave our own systems, the sales process
decision that will be transformative for
slows down. Workflow becomes less
technology-enabled independent agents,”
efficient. Different carriers have different
said Kitty Ambers, CEO of NetVU, the
questions. Direct comparisons are more
Network of Vertafore Users, Inc. “It will
difficult. As a result, the agent can lose contake open-mindedness and a commitment
trol of the process, prompting the customer
to embracing updated point-of-sale, new
to walk. We can lose the sale.
business and renewal workflows, but the
Wouldn’t it be great if we could bind
ultimate competitive advantage will result
coverage in real time, without the need to
in measurable growth for the entire indebridge to the carrier systems? We could go
pendent agent distribution channel.
to one screen on our systems and see full
“Let’s let the technology work so profescomparisons with premiums and live butsional independent insurance agents can
“At first, I was skeptical, but now I
tons to bind.
thrive as advisors to consumers,” Ambers
am convinced this is needed,” said Jim
It turns out that we can. The technology
said.
Mansfield, an agency principal from
to do it already exists.
On April 8, 2016, after three months of
Lawrenceburg, Indiana. “The more that an
The topic of a “buy button” for indediscussions, PIA National adopted a policy
agent can fulfill the desires and expectapendent agents has been discussed in our
position supporting and defining the PIA
tions of the client, the better the chances
industry for many years, with no consensus
Buy Button.
for success. The technology already exists
being reached.
Independent agents cannot fear techto empower agents to have a far more
PIA National decided to take a leadernology; we need to embrace it in a manner
robust capacity to serve the client by proship role in initiating a renewed discussion
that helps us achieve our goals.
viding a full range of choices in real time.
of this issue by calling an industry-wide
Thanks to technology, independent
We need to take advantage of this.”
meeting, which was held on January 21,
insurance agents have the ability to take
The “buy button” will empower agents
2016, at the headquarters of ACORD in
back the real time binding process and use
to bind coverage in real time for prospects
Pearl River, New York.
Something
the profeSSional,
it to increase sales. This will benefit our
or clients that call on the phone, walk into
PIA’s intention was to foster discussion
independent
agent
buy into.
agencies as well as our carrier partners
the agency and meet
with can
the producer,
in
and provide a forum for all views, with
with increased profitability.
addition to visiting online. This concept
the perspective of agents at the center of
After much study and deliberation, PIA
will also apply to mobile technology for
the conversation. Part of the impetus was
has
agents to use when
meeting
with
prospects
recent PIA Partnership research showingThe professional,
independent insurance agent concluded that agents should have this
brings personal
relationship
expertise
to the
table. Agents with
option.
or clients
offsite,and
giving
them the
same
that commercial lines customers who prestrong workflows
will bebinding
fastest to
succeed.
real-time
ability
whether they are
fer doing business with independent agents
The Buy Button will expedite the independent agent’s workflow and
create additional opportunities to sell and expand business. We can
create the ability for agents to bind a policy in a once-and-done
PIA CONNECTION | www.pianet.com
June 2016 | 11
fashion, in your agency’s system; in office, mobile producer and through
the agency website.
• The Buy Button will empower the agent to bind a policy 24/7
ImagIne
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UP UNTIL ABOUT 15 YEARS
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ImagIne
Something the profeSSional,
independent agent can buy into.
The professional, independent insurance agent
brings personal relationship and expertise to the table. Agents with
strong workflows will be fastest to succeed.
The Buy Button will expedite the independent agent’s workflow and
create additional opportunities to sell and expand business. We can
create the ability for agents to bind a policy in a once-and-done
fashion, in your agency’s system; in office, mobile producer and through
the agency website.
• The Buy Button will empower the agent to bind a policy 24/7
whether at the office or off site, during operating hours or after hours.
• The Buy Button will help you reach prospects and create a pointof-sale opportunity: in the office; on the phone; online; at the
prospect’s location etc.
• The Buy Button will enable producers and account executives to
approach new business face-to-face: in your agency; at your clients’
office; via phone or email.
• The Buy Button will allow agencies to cross sell to existing
customers who access your agency’s customer portal.
Are you an independent agent with a local brand? Enrich that brand
and drive perspective clients to your local website, your phone number
and your front door by engaging your customers and your carriers with
The Buy Button.
Let’s make it happen!
WWW.PIABUYBUTTON.COM