Adapting to the Future of Life Insurance Sales

Aug. 25, 2023

Adaptation is an integral part of any industry. Times change, technology changes and customer needs evolve. Being able to pivot and adapt to those changes is key to the longevity of any career — including selling life insurance .

In the last few years (with so many people moving to remote work and virtual purchases) the insurance industry has seen a considerable change in how life insurance is bought and sold. Everything from reaching out to clients to underwriting has (in some way) moved to digital spaces.

Knowing how to pivot with trending technology and processes is key to selling life insurance. Without adapting to the changing landscape, life insurance agents can find themselves lost in a sea of competition.

To keep you ahead of the pack, we’ve put together this guide to help you prepare for the future of life insurance.

Understand the changing landscape

To better adapt to changes in the industry, it’s important to have a good understanding of what’s causing the changes. For instance, if clients are wanting to meet virtually more often, understanding the why  of that choice can help you foster a better client experience.

If life insurance agents are leveraging tools for virtual underwriting more regularly, then there must be an advantage to digital writing as opposed to its more traditional counterpart. Being reluctant to a changing industry can be the result of a desire to stay in your comfort zone; however, reimagining new life insurance tools, products and processes will help you stay successful.

Tap into technology

Technology is the name of the game and a huge catalyst for change in … well, any industry. If you’re not adapting to new technologies, you’re missing out on meaningful ways to connect with your clients, recruits and new processes.

In the life insurance industry, that technology is known as “insurtech,” and it’s completely reshaping the landscape of life insurance sales .

Learning how to navigate any new technology can be the biggest hurdle in adding it to your wheelhouse of tools. At Symmetry, agents not only have access to proprietary technology that helps them automate their business like Switchboard , but they also will find expert training on our one-stop site, HQ , to help them use it effectively.

Build an online presence

As a life insurance agent, having an online presence is not just important, it’s mandatory . A word-of-mouth reputation will get you little more than referrals, and it’s unlikely you’ll find agents to recruit without some kind of online authority. Since being online is already an obligation, the future of life insurance asks for agents to be ubiquitous on social platforms.

Adapting to this digital age means posting on Facebook, creating promotional reels on Instagram, regularly sharing organizational updates on LinkedIn and even overviews of your business on YouTube. More than that, you’ll need a firm understanding of what’s trending or performing well to stay relevant on any of these platforms.

Pay attention to your peers and competition. If you notice a type of content is performing well on someone else’s page, it will likely help you find a wider audience too.

Building an online presence as a life insurance agent is a commitment that (while initially can take time to build) will pay off immensely in brand awareness and attracting clients and recruits alike.

Base your choices on data analytics

Now that so much of what a life insurance’s day-to-day is online,  gathering data is easier than ever. Whether or not you’re using that data effectively is another matter altogether. In the next decade, data will have an even larger influence on the types of life insurance policies that can be sold and who they can be sold to.

Data-driven policy customization in life insurance is not the only instance where leveraging data can boost your business. Using data that looks at how you perform as an individual is just as important.

Performance is key when it comes to working analytics. Instead of dwelling on specific failures, keep track of everything and look for where your performance is highest. By analyzing your data, you’ll inevitably notice the conditions that allow you to succeed.

Maybe there’s a particular product you’re best at selling or a specific lead type you land more appointments with. Whatever those conditions are (however marginal), they can lead you to make more informed decisions in how you run your life insurance business.

For agents with Symmetry Financial Group, finding that data and putting it to work is easier than ever.

Introducing PerformDash

Through HQ, Symmetry agents also have access to PerformDash. This data-forward tech allows agents to keep a finger on the pulse of their business like never before.

Using the platform, Symmetry agents can track lead health (using lead cost percent of profit and their annual premium volume per lead), track their progress through training and promotional levels and see a quick glance at their scheduled appointment hours.

They can even see a leads overview that tracks (by lead level) the amount purchased, cost and close ratio for each lead type.

On PerformDash, they can also set goals for income and calculate (using their personal data) the right mix of net placed premium and submit targets as well as recommended leads to meet those goals. Agents can switch between monthly and weekly metrics that can help them zoom in or out to get a better sense of what’s working (and what needs to be left behind) for their business to grow.

Adapt for the future with Symmetry

The future of life insurance is here, and without a game plan to adapt, you may find yourself falling to the back of the pack and behind the curve.

Being ready for change is a great way to give yourself an advantage as a life insurance agent. Whether it’s leveraging supportive insurtech or using more data to help with clients, we hope something in this guide will give you an edge in the industry.

As a Symmetry agent, you will have access to high-quality life insurance, disability income insurance, critical illness insurance, and annuity products from more than 30 well-known insurance companies. This gives you the flexibility and reach you need to tailor plans to meet clients' individual coverage needs.

To learn more about how to begin a fulfilling career as a life insurance agent, contact us today.


Would You Like to Request a Quote?
Please fill out the short form so we can provide you with the policy options to best match your coverage and financial needs.
Request a Quote