According to a survey from Ecclesiastical brokers have only just started using social media to do business.
Over a third of smaller brokers only speak to their clients once at renewal time, Ecclesiastical revealed in a poll.
The survey polled 250 brokers to see how, when and why they interact with clients.
It also found that over half only contacted their clients once or twice a year.
“What became clear is that in some cases, brokers are not in regular contact with their customers,” said the insurer.
Additionally, the vast majority, a total of 94% of the brokers polled, contact clients with renewal reminders, while just 29% contact them to offer an additional product or upsell.
Looking at how brokers share good news or business success with their clients, the poll highlighted that the uptake of social media use was still at an early stage.
It found that just 22% have used LinkedIn for the first time in the last 12 months and only 21% have adopted Twitter.
And while 30% of brokers put case studies on their own websites, only 5% are signposting clients to this information on social media.
Asked what was stopping brokers from getting to know their customers better, some 32% of those polled admitted that they did not have enough time or people to dedicate to relationship building.
Also, 54% of brokers said it was not a priority for them to engage with people under 30 years of age despite them being a growing demographic in need of insurance cover.
Ecclesiastical pointed out: “We know that the age profile of people buying insurance is not confined to older people, and the success of young entrepreneurs, celebrities and artists means that the under 30s are a growing demographic in need of insurance cover.”
“This is particularly true in the High Net Worth and Mid Net Worth market, yet brokers find it difficult to engage this part of the market and 29% of brokers need help reaching them via social media,” the insurer continued.
It concluded that despite the first tweet being sent over 10 years ago many in our sector have still not embraced social media.
“Whether it’s face to face, via email, over the phone or over a social network, there are lots of opportunities for more dynamic and engaging conversations – to better click with customers,” said Ecclesiastical.
“Pick a customer – what’s your next conversation with them going to be?”
For all the latest industry news direct to your inbox, sign up for our daily newsletter.
- Tasker Insurance names Robert Organ as new CEO
- ASA reveals insurance advertising complaints
- Ex Towergate and Bluefin boss Kenny Hogg joins Gallagher as Scotland lead
- Staysure snaps up travel rival Avanti
- New motor fleet MGA launched
- GWP slips to $2.39bn at QBE Europe in half year results
- Hiscox adds drone cover and more to home insurance product