2018 is in full swing! We’ve officially completed one full month, and we still  have another 11 to look forward to! 2018 looks to be a promising year, not only for society in general, but for life insurance as well. Here are a few of the most exciting trends to look out for in 2018.

Better Communication and Marketing

Let’s set the clock back to 1995. All communication was completed either through the phone or in person. That was it. Now, in 2018, we have, for the most part, mastered the Internet. We can now utilize this, and several other technologies, to communicate with ease. LinkedIn, email, Facebook, text messaging and phone calls are all viable methods of communication. Insurance agencies can also use the Internet to advertise on a much larger scale.

Expect communication to increase even more, what with some of the more fascinating technologies being developed as we speak. Virtual reality and augmented reality can be utilized to advertise life insurance policies.

 

Cloud Computing

It’s no secret: Millennials aren’t purchasing life insurance. One of the biggest reasons for this is because of the long and tedious process of gathering the appropriate information. Millennials are so used to digital communication and file transfer that in order to appeal to them, industries must communicate like them. With cloud computing, all kinds of documents and files can be stored and accessed on the cloud, and they can be access from virtually anywhere. This makes the process of signing policies and delivering and receiving files much easier. As more agencies incorporate cloud computing, we will see an influx in Millennial policy holders.

Multi-Channel Access

Again, today’s world is increasingly dependent on technology. Millennials, and even older generations, expect all services to be available at a moment’s notice. This means offering a variety of ways to access information and profiles. As an insurance agency, it is in your best interest to have a desktop client portal, as well as a mobile application from which customers can access vital information. As we rely even more on technology, these types of offerings can make or break an insurance agency.