While many insurance agencies are focused on obtaining new customers, it’s no secret that customer retention is crucial to a business’ continued success. Studies show that increasing your customer retention rates by just 5% can net anywhere from 25% to 95% more profits. Meanwhile, it’s a common refrain in sales that attracting a new customer costs 5 times more than retaining an existing one.
Historically, the insurance industry isn’t exactly known for embracing new technology. It’s been riddled with old technologies, siloed processes, complicated custom workarounds, and legacy mindsets. Recently, however, this slow-to-adapt culture has finally come around to the digital transformation.
Transitioning to remote work: A case study
April 14, 2020
The number of people working remotely has been rising steadily in recent years. Between long commutes and an effort to achieve work-life balance, more and more companies are making the transition to allow (and in some cases, encourage) employees to work from home, either part- or full-time.