The Digital Transformation of Insurance
Digital Technology Adoption: How Does Your Agency Score?
October 12, 2016
The results of a recent survey conducted by Applied Systems found that the national average for digital technology adoption among independent agencies is only 42%. In a time when consumers expect instant access to information and real-time customer service from mobile devices, this finding — indicating that the independent insurance agency channel continues to lag behind other financial services industries – reveals there is significant opportunity and competitive advantage to be had for agencies willing to adopt new technologies and implement digital transformation strategies.
NEW Digital Agency Scorecard
To enable agencies across the U.S. to gauge digital transformation progress, Applied has created the Digital Agency Scorecard, a complimentary online tool to help your agency discover how it compares against industry peers nationwide.
The Scorecard assesses the 5 core competencies of a digital agency, including:
- Agency management system capabilities
- Data analytics/business intelligence utilization
- Insurer download adoption
- Cloud migration
Based on agents’ answers to a series of questions designed to assess agency capabilities across the above competencies, the scorecard provides a technology adoption percentage and compares that to statewide and nationwide averages. An agency that scores 80% or higher is considered to be a Digital Agency, having adopted most of the key drivers for digital transformation.
Using the Scorecard
The Digital Agency Scorecard not only creates an industry-wide benchmark by which agencies can measure digital technology adoption and progression towards digital transformation, but also offers valuable insight into specific areas for an agency’s own improvement and strategies for adopting key digital technologies.
How Does Your Agency Rank?
Use the Applied Digital Agency Scorecard now to find out how your digital technology adoption compares to that of your peers and get feedback on how to improve your score for continued success in the digital age.