Digital Platforms: Challenges and Solutions for Insurance Agents

We heartily welcome you to this interesting and important article on the Jeevan Bima Bazaar. I am sure that this article will prove to be very useful for those Life Insurance Agents who want to become successful in their Insurance Business by using various types of Digital Platforms.

In this article, we will also learn about the challenges faced by those Life Insurance Agents who are using digital means to make their Insurance Business successful with the changing times. We will also try to draw your attention to those mistakes, due to which you get away from the success of your Insurance Business.

In this article, we will also discuss some important issues, such as how Social Media Groups and Pages can be used effectively. So let's understand this important information in detail without wasting your time.

Challenges of Life Insurance Agents on Digital Platforms

If you want to become a Successful Agent, then in today's date you have to use Digital Platforms, but just like every coin has two sides, similarly, the use of Digital Platforms brings benefits to Life Insurance Agents on one hand and on the other hand it also causes losses. So if you want to use Digital Platforms in your Insurance Business, then first of all you have to understand these challenges.

01- People's Participation on Digital Platforms

Most of Life Insurance Agents, who want to improve their Insurance Business through digital means, start trying on various Social Media Accounts. But keeping people engaged on such platforms is a challenging task for everyone.

Many Life Insurance Agents keep publishing their Life Insurance Products through various posts on their Social Media. But if the content published by them is not lively and attractive, then people leave the Social Media Platforms of such Life Insurance Agents.

02- Lack of Trust of People on Digital Means

This is the biggest challenge for most Life Insurance Agents. Due to the online frauds happening every day, most people do not trust the Financial Presentation presented by the people associated with the Digital Platform. Since Life Insurance Products are a subject related to Financial Transactions, it is quite difficult to sell Life Insurance Policies directly using Digital Means.

3- Lack of Selection of Digital Content

Many Life Insurance Agents share different types of content on their Digital Platforms without any prior planning and without paying any attention to whether the content they publish will be liked by the people or not. Agents who do this kind of work on digital resources only waste their time and energy, they do not get any special benefit by doing this.

Reasons for Agents' Failure on Digital Platforms

Many Life Insurance Agents create their accounts on various Digital Platforms to promote their Insurance Products and then create their own groups or pages on the respective platforms. Such agents continuously add information related to various types of insurance on their groups or pages.

Agents who try using digital resources think that their efforts will bring them success. People will be impressed by the insurance related content available on their groups or pages and will contact them to buy Insurance Products. But on the contrary, people leave their groups or pages due to the following reasons:

1- Uniformity of Digital Content

Most people do not like to discuss insurance topics and the presentation of insurance related information every time can bore people. People do not join digital platforms to increase their knowledge or to get information related to investments, but people join with the purpose of getting entertaining and interesting content.

So, if you work on your platform by focusing only on promoting your products without keeping in mind the purpose of people being on the digital platform, you cannot keep people engaged on your Digital Platform.

2- Lack of Communication

Many a times it has been seen that people try to contact the Insurance Agent through comments on the digital platform or through means like messenger to get a solution to their problems or to get more information about Insurance Products.

If the agent does not respond to such people in the form of a solution or responds after a long time, then due to the lack of such communication, people leave the Digital Platform of such an agent.

3- Excessive Promotion

If you publish various Life Insurance Products on your digital resources, every other day describe a New Insurance Product as better and write messages motivating people to buy that product, then it does not make your audience feel comfortable and you unknowingly create an image of yourself as a greedy Life Insurance Agent. People also leave the Digital Platform of the agent who does this.

Doctor's Strategy for Digital Work

If you are a Life Insurance Agent who really wants to succeed in your Life Insurance Business and wants to use digital tools to achieve this goal, then our advice for you would be to make a good strategy before presenting content on various Digital Platforms and implement it.

We believe that to achieve success in any work in this world, you should first know about the challenges while doing that work. Because when you have a correct estimate of the challenges, you can achieve success quickly by making the right strategy.

For a Life Insurance Agent who wants to achieve success through Digital Platforms, our advice would be that he should adopt the strategy of doctors before publishing content on any of his platforms. If you do this, you can make your Digital Platform more effective. Let me present my point with an example.

Example

I am sure that you must have contacted doctors at some time in your life. Has any doctor ever advised you to take bitter medicine? I am sure that if this has happened to you, then you would know very well that taking medicine on time will improve your health, despite this you may not like to take medicine.

If your doctor is wise, then he will already be aware of your nature and while giving the medicine, he would have told you that you have to take this medicine with sugar candy or honey. He does this only because he wants to make you healthy and he knows very well that with this method you will be able to take bitter medicine easily.

Similarly, if you present the content on your Digital Platform according to the interest of your audience and along with this, publish your business content in an interesting way, then your chances of success can increase to a great extent.

How to do

Publish Informative Content: Keep sharing interesting content related to Insurance Plans, details of Insurance Products, General Financial tips on your Digital Platform.
Solve Customer Problems: Share articles, videos, etc. on your Digital Platform that can help your customers solve their problems. Help people in need.
Make the Digital Content Interesting: Share the experiences of people who have bought Life Insurance Policies from you or whom you have helped in paying various claims. Include family and educational movies, video clips, etc. to make your Digital Platform Interesting.

Common Mistakes Made by Agents on Digital Platforms

Most Life Insurance Agents create their accounts on various Digital Platforms to improve their business, but they keep making some small mistakes, due to which they do not get the best benefit from it. Let's understand those mistakes:

Ignoring the Interest of Customers: On the Digital Platform, you have to give importance to the interest of your audience. You have to include such content on your platform at any cost, which on one hand creates a better image of you and on the other hand keeps the audience engaged. Old audience follows you for a long time and new audience keeps joining your Digital Platform.
Most agents do not pay attention to this, as a result of which people do not join their Digital Platform and those who are already connected also leave them.
Lack of Quality in Digital Content: When you include unclear and low quality content on your Digital Platform, it can cause serious damage to your image.
Lack of Regularity: Almost all Digital Platforms give priority to those accounts which remain updated on their platform. So whatever digital resource you are using, you must publish some new post with related content on your platform in maximum 72 hours.

Lack of Response: Not responding to the comments and questions of the audience on the digital platform can become a big obstacle in reaching your goal.

What should a Life Insurance Agent do on Digital Platforms

To be successful on the digital medium, a Life Insurance Agent should do the following:

Create and Review Strategy: To be successful in Life Insurance Business using digital medium, first of all you should make a better strategy and work on that strategy continuously for at least three months. After three months, you should evaluate your work.
Understand the Interests of the Customers: Try to understand the interests and needs of your target customers and prepare digital content accordingly. For example, if your target customer is the youth. Then understand what will be the interest and need of a youth and share the content on your digital platform.
Include Variety of Content: Create as many articles, videos and graphics as possible yourself or get them prepared by professionals and share it on your Digital Platform. Include Financial Advice, benefits of Insurance Plans, Motivational Stories, frequently asked questions and answers, etc.
Give Importance to Customers: If your audience gives any feedback or writes any question in the comment section of your post on digital means, then you must reply to them at a certain time interval. You should make them feel that they are important to you and you are dedicated to them.
Be Active on Social Media: Remember, every Digital Platform gives more importance to those accounts which are more active. This means that if you want to work on Facebook, Instagram, WhatsApp or any other such platform, then you must publish a new post at an interval of maximum 72 hours.
Use Digital Advertising: For a particular product on which you have a good hold, you should resort to Digital Advertisements. For such advertisements, first of all you target your target customers and make advertisements keeping in mind their needs.

Conclusion

Working on Digital Platforms can be full of challenges, but with the right strategy and keeping in mind the interest of the customer, you can make it a successful medium. Remember, your content should not just be limited to promoting your business but it should also be valuable and useful to your audience.

After reading this article, do share your thoughts and suggestions in the comments below. If you find this information useful, do share it with your fellow agents and friends.

Know in Detail in the Video

To know more about the information given in this article, watch the video given below carefully till the end. If you have any questions in this regard, then write your questions in the comment box of the video.

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03 June 2023