The client is a digital insurance brokerage in the US ad their platform aims to be the one-stop solution for all the needs of an insurance agent. Right from the point when potential candidates show interest in becoming an agent or clearing the state exam to get licensed in a Line of Business to the point when they process their clients, their products are there to help him across different stages of execution.
The current industry set up is very rigid. Young Millennials do not have exposure to this industry and often do not get the right guidance, which leads to a lot many prospective agents dropping off from the industry as a whole and those who enter become captive agents.
Most agents are captive to one single organization and even though they plan on being independent. The option to become an independent broker is very tough, high costs are involved and multiple products define their everyday work
The average age of the current agent in the US is 58 years and the rigid structure of the insurance industry does not help newer agents to thrive, and the common noticeable facts are stated below
All products under the same ecosystem allowed the company to organically gain agents.
The process from training, on-boarding to finally working has seen better user engagement that the previous iteration and lesser drop-offs.
The average age of learners coming through the training system to the quoting tool was reduced to 40 with a higher retention average than the previous iteration.