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Run Time: 40:04
in On Point, Podcasts

Inject a Human at the Right Moment

If you're familiar with Ryan Hanley, you'd expect a searing commentary on the state of affairs for agents and carriers, and this fast-moving podcast doesn't disappoint. Ryan, a former agent and now CMO at insuretech Bold Penguin, outlines a vision for the consumer experience: "I think insuretechs that are passing up the human are taking it too far. You don't need a human for every touchpoint, because you're not optimizing your agency's productivity. You need to inject a human at the right moment." But Ryan also predicts declining market share for independents. "The change in personal lines in the 1970s and 1980s is about to happen in small commercial. We'll see the IA share dwindle down to 40%, and agents need to be ready for that." He also predicts a 30 to 40% reduction in the number of agents in the next five years. "All that business will be sold or go to aggregators," Ryan says. "Some agents doing really well are eating the lunch of agents who aren't willing to innovate… All the tactics are available on the Internet; it's just execution." Ryan adds: "I think 2019 is the year when true human/hybrid automated agencies start to implement at scale. If you're doing it today, you'll be well ahead. Get rid of tasks with little value and get to human-facing value."

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