{"id":6472,"date":"2021-11-12T23:38:29","date_gmt":"2021-11-13T07:38:29","guid":{"rendered":"https:\/\/blog.investmentpal.com\/?p=6472"},"modified":"2021-11-12T23:42:37","modified_gmt":"2021-11-13T07:42:37","slug":"impact-of-covid-19-on-customer-engagement-for-insurance-agents","status":"publish","type":"post","link":"https:\/\/blog.investmentpal.com\/covid-impact-insurance-agents\/","title":{"rendered":"Impact of Covid-19 on customer engagement for insurance agents"},"content":{"rendered":"<p>In a previous post, we showed how <a href=\"https:\/\/blog.investmentpal.com\/covid-19-impact-wealth-managers\" target=\"_blank\" rel=\"noopener\">customer engagement in the wealth management industry has changed during this pandemic<\/a>.\u00a0 In this blog, we highlight 5 statistics that show why and how insurance agents have both increased adoption of digital tools and use of social media to engage and win clients during this time.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>1. The relative frequency of users looking for \u201cinsurance agent\u201d using search engines increased 27% in 2020<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6448 size-full\" src=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/Insurance-agent-search-interest-2.png\" alt=\"insurance agent search google trend\" width=\"540\" height=\"300\" \/><\/p>\n<p style=\"text-align: center;\">Source: Google Trends<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>2. 15% of consumers anticipate they are likely to purchase life insurance due to the impact of COVID-19<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6450\" src=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/covid-impact-on-purchase-of-life-insurance-2.png\" alt=\"covid life insurance purchase\" width=\"540\" height=\"300\" srcset=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/covid-impact-on-purchase-of-life-insurance-2.png 540w, https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/covid-impact-on-purchase-of-life-insurance-2-300x167.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/><\/p>\n<p style=\"text-align: center;\">Source: <a href=\"https:\/\/www.pwc.com\/us\/en\/industries\/insurance\/library\/insurance-consumer-survey.html\" target=\"_blank\" rel=\"noopener\">PwC\u2019s COVID-19 Pulse Survey, June 2020<\/a><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>3. 44% of insurance agents rated digital tools as the most significant capability insurers can invest to support them<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6453\" src=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/most-desired-capability-for-insurance-agents-2.png\" alt=\"insurance agents digital tools\" width=\"540\" height=\"300\" srcset=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/most-desired-capability-for-insurance-agents-2.png 540w, https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/most-desired-capability-for-insurance-agents-2-300x167.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/><\/p>\n<p style=\"text-align: center;\">Source: <a href=\"https:\/\/www.mckinsey.com\/industries\/financial-services\/our-insights\/how-insurance-can-prepare-for-the-next-distribution-model\" target=\"_blank\" rel=\"noopener\">McKinsey \u201cCovid-19 US insurance Agent Pulse Survey\u201d May 2020<\/a><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>4. 78% of insurance CEOs say COVID-19 has accelerated progress on the creation of a seamless digital customer experience<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6456\" src=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/COVID-impact-on-insurance-customer-experience-1-.png\" alt=\"covid accelerated digital customer experience\" width=\"540\" height=\"300\" srcset=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/COVID-impact-on-insurance-customer-experience-1-.png 540w, https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/COVID-impact-on-insurance-customer-experience-1--300x167.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/><\/p>\n<p style=\"text-align: center;\">Source: <a href=\"https:\/\/home.kpmg\/xx\/en\/home\/insights\/2020\/11\/the-covid-19-catalyst-insurers-race-to-digitize.html\" target=\"_blank\" rel=\"noopener\">KPMG 2020 CEO Outlook Covid-19 Special Edition<\/a><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong>5. Use of social media to assess a financial professional has increased to 64% for Millennials, 53% for Gen X, and 27% for Baby Boomers in 2020<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6458\" src=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/2._Wealth-manager-social-media-use-1-1.png\" alt=\"use of social media to assess financial professional\" width=\"540\" height=\"300\" srcset=\"https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/2._Wealth-manager-social-media-use-1-1.png 540w, https:\/\/blog.investmentpal.com\/wp-content\/uploads\/2021\/07\/2._Wealth-manager-social-media-use-1-1-300x167.png 300w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/><\/p>\n<p style=\"text-align: center;\">Source: <a href=\"https:\/\/www.limra.com\/en\/research\/research-abstracts-public\/2020\/2020-insurance-barometer-study\/\" target=\"_blank\" rel=\"noopener\">LIMRA\u2019s 2020 Insurance Barometer Study<\/a><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\">By <a href=\"https:\/\/investmentpal.com\" target=\"_blank\" rel=\"noopener\"><strong>InvestmentPal<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a previous post, we showed how customer engagement in the wealth management industry has changed during this pandemic.\u00a0 In this blog, we highlight 5 statistics that show why and how insurance agents have both increased adoption of digital tools and use of social media to engage and win clients during this time. &nbsp; 1. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[77,61,86,4,83,88,82],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Impact of Covid-19 on customer engagement for insurance agents - Social Media Marketing for Financial Services Ecosystem<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.investmentpal.com\/covid-impact-insurance-agents\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"InvestmentPal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.investmentpal.com\/covid-impact-insurance-agents\/\",\"url\":\"https:\/\/blog.investmentpal.com\/covid-impact-insurance-agents\/\",\"name\":\"Impact of Covid-19 on customer engagement for insurance agents - 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