Reflecting on Past Changes and Anticipating New Ones

Recently, I celebrated my 35th year with the IIAV. Any time you reach a milestone in life, you tend to look back and reflect. As I was reading the many heartwarming congratulatory messages I received, my mind began to drift back through time and I took a retrospective look at my career in the insurance industry.

I thought about co-workers, clients and constituents I have had the honor and privilege to know, many of whom have become lifetime friends. I couldn’t help but become somewhat melancholy when thinking of those dear ones that have passed. But just as moving, but in an uplifting way, were the recollections of all those humorous incidents that occurred at our many functions.

Most fascinating to me though, was the realization of the vast number of changes that have taken place within the insurance industry during my tenure with IIAV.

Just to share a few that I remembered ... 

• trying to figure out what the heck DOS was - and then Windows. (This was after saying goodbye to my Selectric II typewriter and carbon paper.
• being amazed when fax machines came out. (This works how?)
• the excitement of going from paper filing to transactional filing and then paperless. (Note, paper “less” not paper “free.”)
• the fear of what Y2K would bring. (Should we go back to paper files?)
• the beginning of the World Wide Web. (I immediately knew our method of doing business would be changed forever!)
• learning about Cloud based applications. (Where is this cloud anyway?)
• implementing social media into our communications. (I wondered how long this fad would last!)
• when Uber arrived on the scene. (How big of a quandary will this be for insurance companies?)
• when Cyber insurance became a necessity. (The terms fishing [i.e., phishing] and hacking brought on whole new meanings.)

With all these changes, two things have been constant in the independent insurance world. Independent agents (1) pride themselves with personalized customer service — they treat you as a person — not a number; and (2) they strive to protect customers from whatever exposures may arise.

A cultural change in buying and servicing products has been sweeping the country for years now and it doesn’t seem to be slowing down. Consumers want information with just an email, click or tweet. They expect us to be available 24/7 whenever they have a question or want to do business. They want an exceptional experience — hassle-free, no waiting and self-service whenever possible.

Having access to a world of knowledge at their fingertips, consumers are much more informed today than ever before. We must be able to meet their expectations. While I sometimes question the personalization of our social media-based communications, it is imperative to reach our clients in the way they want to be reached — be it platforms such as Facebook, LinkedIn, Twitter, YouTube, etc.  

However, regardless of how technological the insurance industry becomes, I believe it will always be imperative to maintain a degree of humanity with an emphasis on there being a “personal touch” to the service provided.

As we continue to move forward in the modern world of insurance with globalization, cyber threats, drones, Bitcoins, driverless cars, Telematics, and IoT (Internet of things), I encourage you to keep in mind the importance of this personal aspect of your business for which independent agents have always been known.

Sincerely,

Linda S. Loving, CIC, AISM, AIAO
IIAV Chief Operating Officer & VFSC Executive V. P.

Independent Insurance Agents of Virginia