In this digital age, consumers are not only accustomed to shopping online but oftentimes prefer it to other means of shopping.
In fact, according to a Marketing Dive analysis of Criteo data, 75% of young consumers prefer to do most shopping online when they can out of convenience. This is no different when it comes to health insurance.
The services provided by the Affordable Care Act health insurance marketplaces bridge the gap between the online shopping experience that small business owners have come to crave and the expertise needed from licensed agents.
Marketplaces also shift some of the shopping experience directly to the small business owner, which saves time and money for the agency. This has a direct impact on the margins and makes this business segment more profitable for agencies. Less time spent face to face with clients or communicating back and forth with small business owners means brokers and agents have more time to sell to more clients.
Here are 3 reasons why brokers and agents should encourage small business owners to shop for health insurance via a marketplace.
1. Modern Shopping Experience
Gallup research has shown that millennials are twice as likely to buy insurance online. Through the technology provided by online health insurance marketplaces, agents and brokers can deliver a modern digital experience to their younger small business clients, who favor a digital experience; This means providing their clients with the freedom to browse and compare their own options on their own schedule.