Captive insurance agents should use an electronic documents management system to increase pay, broaden their professional skillsets, and create more on-the-job satisfaction in 2017 and beyond, even if they have no intention of becoming independent insurance agents.

In fact, technology is becoming an increasingly important part of the captive insurance agent conversation, as it provides an inlet to greater mobility, security, and ease of process in the ever-changing world of agent-based insurance company sales.

However, without use of the right technology, some captive insurance agents feel hamstrung by the fact they can only sell their insurance companies’ policies, but a smaller number of insurance agents feel these limitations serve them.

For instance, newer agents in the insurance world do not mind holding captive positions, as it gives them a safety net (and usually in the form of base pay) to learn their insurance company’s suite of insurance products, including the ability to build a business through the name of the insurance company itself.

However, on the other side of that equation, many experienced and tenured insurance agents feel that working on a captive agent basis undermines their broad set of skills and knowledge of the insurance world. This feeling oftentimes results in captive agents pursuing independent agent positions.

If you’re a captive insurance agent interested in acquiring an independent insurance agent role, keep reading to discover how an electronic documents management system can make the transition and fulfillment of the independent insurance agent role pain-free.

Why Captive Insurance Agents Should Use an Electronic Documents Management System

If an insurance sales professional wants to enter the world of unlimited clients and unlimited solutions to sell, he or she must rely on the tools to make it possible.

Captive insurance agents should use an electronic documents management system to not only make entering the world of independent work possible, but also to ensure they can handle the influx of paperwork and documentation this new world of work will require of them.

The latter of these two benefits was certainly the case with one of eFileCabinet’s customers, CJ Vang. CJ Vang used eFileCabinet’s electronic documents management system to better handle his workload as a captive agent, and boost his productivity.

Why Independent Insurance Agents Should Use an Electronic Documents Management System

Those buying from independent insurance agents will be more inclined to trust the opinion of the salesperson, as it is not inextricably linked to the profit of one insurance organization, and the independent agents selling the solutions are more concerned with their individual reputation for quality than the average salesperson, and understandably so.

Larry Boyd of Oak Bridge Financial uses an electronic documents management system as an independent agent. Although he and his firm engage in general financial consulting, insurance solutions are part of their suite of services. As an independent agent in his own right, he uses eFileCabinet to increase his mobility and accessibility for the clients he serves.

In fact, the name of the company is donned to represent a transference from the bridge of today to the bridge of tomorrow, and his cloud-based electronic documents management system plays a big role in providing the services for which his clients have grown to know him and his excellent firm.

Turning the Insurance Sales Process in to an Experience

Marketing to millennials in need of insurance services, including the companies in which they work for, requires making the insurance process an experience, as noted by Independent Agent.

Captive insurance agents should use an electronic documents management system to provide this experiential boost in their own sales process, as it lets insurance sellers meet clients at their locations of choice, with the ability to put their offices in their pocket and retrieve any information needed in the meeting itself.

Although over-the-phone insurance sales and processes are becoming more common, there remains a human element of in-person salespersonship that lends credibility, authenticity, and candor to the sales process. Therefore, document adds to, not subtracts from, these experiences.

Professional Growth at the Agent Level

Even if captive insurance agents have no intention of moving into an independent insurance agent role, the use of an electronic documents management system can facilitate the professional growth needed to build and add one’s credibility to an existing book of business.

And, with a broader set of customers and each of their diverse needs, professional growth with the efficiency the right technology gives agents will ensure a better knowledge base for the agents involved. And, with a better knowledge base comes a greater potential to steal market share from other agents.

Developing Thought Leadership Status with Technology

If a captive agent is drowning in paper-based documentation, it becomes incredibly difficult to grow one’s book of business.

Using an inordinate amount of time to search for, retrieve, file, store, and classify documents can be automated by OCR data and form fill.

Not only does this eliminate recurring processes, it automates these processes into a system with built in security to simplify compliance measures and provide traceable data and evidence in the event of an audit from a regulating authority. Additionally, internal audits can be simplified via these solutions.

A Tour De Force in Customer Service

Another reason captive insurance agents should use an electronic documents management system is to rise to the challenge of customer service in an era where “the customer is always right.”

But even in the scenario that the customer isn’t always right, an electronic documents management system lets agents (of both independent and captive stripes) harness the information they need to corroborate requests and verify information whether in-person or on the fly.

For instance, if a customer has a question about an individual file or contract outside the office, relying on a mobile documents management solution to retrieve the info will ensure that question is answered on the spot and with a high degree of certainty.

Or, if such a scenario were to unwind in a phone context, the inquirer on the other end of the line will have what he or she is asking for in the blink of an eye, as the metadata-driven file retrieval and predefined document names of electronic document management solutions prevent the arbitrary classification and retention of records—ensuring all files are easily retrievable when they are searched for.