Innovate to add value

The role of the broker in the face of technological advances

By: Priscila Palacio

There has been a lot of talk about the advancement of technological innovations and their use in the insurance market: data analysis, business intelligence, blockchain, artificial intelligence and internet of things (IoT) and many others that may be emerging at that moment. On the other hand, there is also much talk about the importance of applying all these advances as a means of strengthening relationships, as well as promoting process improvements and improvement in customer service. In a broadly connected world with technological innovations emerging at all times, the debate about the importance of the role of the insurance broker in this new scenario and how it fits into this new reality grows.
CEOs of the country’s largest insurers, representatives of major brokerage firms and various industry entities have been talking a lot about digital convergence. And all are unanimous in affirming that, even in the face of new technologies, the role of the insurance broker is and always will be fundamental for the distribution of the most diverse insurance in the market. And that no technology will be able to replace the humanized and personalized care that the specific (or niche) insurance consumer needs, which in turn is only possible through human interaction.
For Marcelo Pimenta, an innovation specialist, there is one fundamental question: you need to understand what the intrinsic value the broker can deliver to your customer and how he can in turn add value to your business so he can start working in a different way, with a new look at the use of technology. In this segment there are the most diverse types of consumers. From someone who is not so intimate with technology, and without the broker, you will not be able to get the product you need, even the person who will buy more complex insurance and needs more attention and specific understanding so there is no problem you need to get the prize back.
Marcelo Pimenta mentions some examples of how it is possible to add value to the business:
“When you start making a sale, something you need to ensure and that is complex, it starts by adding value by understanding the point of view of what the person wants. In this case, the added value lies in the security that the broker offers and in the facilities and assistance that your broker provides. It is worth mentioning that only the broker will be able to quote with several insurers to seek the best product for its client. Another issue that adds value is the broker’s proactivity. He calls the client to remember that the insurance is winning, to suggest insurance that has the profile of him and that until then he did not use and can be more interesting, are ways to offer a care that until then the client did not have and that goes add value to the broker’s work, “he suggests.
On the insurance broker’s role in the face of new technologies, Marcelo says: “You have to reinvent yourself and find ways to add value by expanding the types of services you offer. You can not just wait for the market to drive changes in your activities. You need to be proactive to manage your career; specialize; work with specific insurance; work with a niche market and specialize in it. The niche market in which the broker is the best in Brazil. That way, it will have a consumer who realizes value in this difference, “he says. Another important issue concerns the use of digital tools: “It is fundamental to incorporate digital. Meet the client the way he wants and not the way the broker wants. It is necessary to observe the design designed in the human being, “he concluded.

Insurance broker in the digital age

According to the latest National Household Sample Survey (Pnad C), published by IBGE (Brazilian Institute of Geography and Statistics), Brazil has 116 million people connected to the Internet, corresponding to 64.7% of the population over the age of 10 years.
The cell phone continues to be the main device used to access the Internet in Brazil. The main of these activities, indicated by 94.6% of Internet users, is to exchange messages (text, voice or images) by chat applications. Given these data, it is necessary to reflect on the new means to approach and relate to the client.
Rafael Rosas, superintendent of digital channels at Icatu Seguros, understands that technological advancement and consumer behavior, much more “technological”, bring new ways for the broker to approach the final consumer. “In the old days, the only channel the broker had to prospect was to call someone, to a cold base, make an appointment, go to the client’s house. Certainly, it is not this model that is present in the future of the broker. Today, he (the broker) has the digital means to get closer to his customers, establish and strengthen relationships.”
For him, there are several avenues for the broker to use technology as his ally. “You have to realize how this customer wants to be served. Some prefer email, some messaging applications, others more traditional already find it complex and prefer to schedule a face-to-face contact, but the channel for closing the sale does not have to be face-to-face. It is necessary to create a journey of relationship with the client. Understand how he can get back on that client to keep his base active, “he says.
On the role of the insurance broker in face of technological advances, Rafael believes that the insurance broker plays more and more the role of a consultant. And that traditional broker who was in the office doing auto insurance quote and sending e-mail with proposals, runs the risk of not having a successful future in brokerage. “If the broker thinks he can continue for a long time acting as an exclusively automotive broker, for example, I believe he may be left behind. Now if he understands he can be a financial advisor, take care of family protection and financial planning for families, and use digital resources for it, I think he has a long way to go.
At first, the broker looked at the digital world as a threat; the insurers looked like the future, today I see that we are now entering a positive transition of this partnership, he concludes.