COVID-19 has been on an uncertain trajectory since its case numbers first started to spike in early spring. We’re all well aware of the unfortunate devastation it has brought to communities across the United States and around the world. Many businesses in the U.S. are just now reopening as case numbers are beginning to rise once again. This ebb and flow of positive cases are likely to continue for some time as the case numbers continue to rise in most states and as we anticipate a potentially devastating second wave ahead of us in the future.
Fortunately for the life insurance industry, many insurers have actually seen an increase in demand due to COVID-19. People who might have been putting off getting a life insurance policy now have a pressing reason to follow through.
Capitalizing on this demand while navigating an environment of widespread cases isn’t going to be easy – we’ve already experienced this once before. Here’s a look at how you can prepare your business now for the uncertainty that COVID-19 will continue to bring.
Get Comfortable Working Remotely
Businesses across industries have had to adapt in these unusual times. Many are moving to work remotely, allowing staff to complete their daily tasks from the safety of their own homes. The life insurance industry is no different. What we know as a traditional office setting is likely gone for the foreseeable future. With social distancing and mask requirements in place in most places, the way we all work with colleagues and clients must change.
If you’re one of the people who moved your business to remote functioning and didn’t put much effort into its execution (thinking you would soon be returning to life as usual), you should think again. We’re likely going to be living in a new normal for quite a while. It’s important that you get comfortable working remotely now and put into practice some permanent business changes to make it a positive experience for all.
Implement Virtual Meetings NOW
One way you can get ahead of the game is to make virtual meetings a permanent part of your business model. Meeting with colleagues and clients isn’t as easy as it used to be. As a result, many businesses have switched to virtual meetings in an effort to keep business moving along. In most cases, it’s been a huge success. There are numerous video conferencing platforms available today for business and personal use, making connecting with people virtually a breeze. If you get in the habit now of hosting virtual meetings, you will be more prepared for the future should a spike in cases continue and/or cause another closure at some point in the future.
Utilize Digital File Sharing & Storage
One thing making the transition to remote work easy is the ability to share and store documents digitally. The insurance industry is file-heavy – and that’s not likely to change anytime soon. The last thing you need to be worrying about right now is how you’re going to access all of your clients’ files while you’re not in the office. Sharing and saving files through traditional electronic means is nothing new. However, these methods do not provide the level of security necessary when dealing with extremely personal information.
Fortunately, technology exists designed specifically for the insurance industry to make this possible. LegacyShield is a platform that can digitally store and share all of life’s most important information. Insurance agents who offer LegacyShield to their clients have the capability to share documents with them securely. Once those documents are uploaded to the LegacyShield platform, they can live there permanently on the platform, which was designed specifically to keep them safe. In times like today, having LegacyShield on your side can be a huge benefit. It will help you conduct business better while working remotely and be a great way to show your clients you’re prepared to adapt to whatever challenges come your way.
For more information on how you can make working from home easier during these uncertain times, check out our blog, “Working From Home: Tips for Insurance & Financial Advisors.”