Policyholders are looking for more than just a policy these days. Customers want an insurance agent who acts as their trusted advisor, collaborating with them to protect their assets and help them reach financial goals. In fact, 75% of policyholders would switch insurers to get more personalized service.

It’s time for a mindset shift in the insurance industry. The focus should be less on “selling to” customers and more on “working with” them. Client collaboration, backed by insurance technology, has become an incredibly effective strategy for expanding your business with current and new clients.


Here’s how collaborating with clients helps advisors build a strong, long-lasting customer base.

The Benefits of Collaborating with Clients

Trust is the foundation of a good client-advisor relationship. When clients trust that their advisor is keeping their information secure and providing personalized service, then they are likely to share more details about their lives. In turn, this allows advisors to make even better recommendations and further build trust.

This positive feedback loop is only possible through open communication and collaboration between both parties. Research shows that collaboration increases client satisfaction. Clients who regularly communicate with their insurance advisors are 74% more likely to recommend their advisor to others. And research from Bain found that Millennial clients who had increased connectivity with insurance providers were more loyal, bought more products from them, and rated them more highly.

For insurance advisors, the benefits of collaborating with clients include:

  • Retaining clients by building trust and loyalty
  • Increasing the number of products clients buy from you
  • Getting more recommendations from your clients

But how exactly do you enact a collaborative approach that is scalable to many clients, especially as privacy laws put more limitations on digital communications for the insurance industry? The answer comes in the form of insurtech designed for advisors.

Insurtech: The Engine Powering Collaboration

Advisors now have access to powerful insurtech platforms that allow them to work directly with clients on their schedule while gaining advanced insights to fuel growth and sales.

Platforms like Link by LegacyShield act as a secure virtual workspace where advisors and clients can collaborate. These workspaces facilitate two-way communication between both parties. Not only can advisors easily and securely deliver information to clients, but clients are also empowered to make changes to files, upload additional information, and message their advisors through the platform. Advisors receive alerts when clients perform these tasks so that you can identify gaps in coverage and recommend solutions that result in sales.

In essence, a digital platform gives advisors the tools to enact a proactive versus reactive approach. Instead of clients having to reach out to you for help, you can proactively provide them with tailored recommendations.

The Key to Growing Multigeneration Connections

With insurtech, collaboration doesn’t begin and end with your current clients. A secure virtual workspace allows you to connect with your clients’ network and organically build referrals. When clients use a digital workspace like Link, they can add their parents, children, friends, and other loved ones onto their platform and share important information via automated document sharing.

These client connections become your new sales leads.

The collaborative approach, empowered by the secure virtual workspace, is the key to breaking the “Rule of 66” and connecting with multiple generations. Instead of spending time constantly hunting new leads, insurance advisors can focus on collaborating with clients and providing high-quality customer service. The result is gaining more business with your current clients and naturally uncovering your clients’ best referral sources.

For more information on why you need to regularly communicate with clients to compete in the digital era, read our blog, “Unlocking Success for Insurance Agents.”

Dan Pierson

Dan Pierson

Dan Pierson is an insurance industry veteran, having run several insurance businesses and eventually selling a nationally recognized life insurance general agency. Dan started LegacyShield to help other insurance advisors grow their practices by focusing on the consumer experience.

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