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InBuzz Insurance Marketing Blog

Why Insurance Agents Should Pay Close Attention to the GDPR Compliance Regulations

Don’t bury your head in the sand on GDPR!

When you hear of the European Union new regulation, the General Data Protection Regulation (GDPR).   The changes regarding Data security, Data Collection, and Documentation Plans we should pay attention. 

Does your business control or processes data of EU citizens regardless of your location? What about your clients?

You may think …well this doesn’t affect us, but that kind of response brings to mind the person figuratively burying their head in the sand, ignoring obvious facts or refusing to accept advice, hoping that simply denying the existence of a problem will make it go away. This new regulation affects us in more ways then we think. 

In the EU this is mandatory regulation, for all the rest of us, this is an excellent time to review our plans, adjust and verify contacts in your customer and prospect lists. Because while it may not affect us directly, there will be a potentially huge ripple effect within our industry.

This article will cover what the GDPR is, why it matters to non EU businesses, and how to move towards compliance. Keep in mind however, that you should work with your data privacy expert, advisor or lawyer if you’d like advice on your interpretation of this information or its accuracy.

How Will Homeowners Insurance Break The Insurance Marketplace

There is an old saying “only the strong survive.” I am not sure I agree with this. Plenty of strong will perish as well! I think the things that survive is not from strength but from adaptability. Too many people in business take on false positions in resistance to the marketplace. That has caused many staples of our economy to disappear right in front of us.

The marketplace is changing has changed. We need to adjust our way of thinking of the way we view customer's needs.

Reaching your buyers in a digital age

Companies like Insuretech and Lemonade seem to have taken reaching and selling insurance to extremes. Agents are also being told they have to worry about posting on social media and blogging to remain relevant. 

But there is a HUGE disconnect that does not make sense to agents and it seems as though their voices are going unheard when they ask questions on this. 

Questions like: "If Social Media, technology and an online presence are so important then why has my online presence yielded nothing significant, while I am still generating many clients from traditional means?" Or "Is it really necessary to do everything these tech companies are doing? None of my current clients are buying that way."

To answer these questions and more you likely have, we need to really address what doing business in a digital age really looks like. What is necessary and what is not.

How The Consumer Shops after a Decade of Transition

Are you open for business and are you available where consumers are shopping?

Just a short 10 years ago the entire sales model was different. The seller was in control and the buyer was at the mercy of this model. How was the sales pie cut then vs. now? Our friends from HubSpot, whom we are a partner with have a really good graphic to share on this major shift.

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