Gregory Bailey is president and CPO at Denim Social. He was licensed to sell insurance at the age of 20, continued as an agent in the industry for the next nine years and then stepped into the corporate world of insurance. Altogether, he’s invested more than 25 years in the insurance and financial services industry, and today he uses that expertise to lead digital, social media and mobile experiences in the industry at the intersection of marketing and technology.
The insurance industry has historically thrived on face-to-face interactions. A year ago, U.S. life insurance brokers told McKinsey that 90% of their sales conversations and even 70% of their customer follow-ups happened in person. Of course, those numbers plummeted during the pandemic: By May 2020, a follow-up McKinsey survey revealed that in-person interactions had dropped to less […]
Insurance agents and financial advisers who don’t have a strong social media presence could be missing out on a lot of potential business, according to a new study conducted jointly by Life Happens and LIMRA. The study found: More than a third of Americans (34%) — and more than half of millennials (54%) — are likely to ask for recommendations […]
A recent headline read, “Insurers go all-out on mobile, but what comes next is elusive.” But what if the future doesn’t have to be elusive? The article shares some interesting statistics on Canadians’ use of mobile related to insurance purchases: 74% begin their insurance research journey online. 25% of those who begin their research online […]
We know the agent channel isn’t disappearing from the insurance and financial services industry anytime soon. However, it’s not going to look the same way it did 10, five, even one year ago. That’s because consumer expectations are changing rapidly, due in large part to the multi-channel shopping experience made possible by mobile and social media and […]
There’s a lot of talk about how artificial intelligence (AI) will lead to the displacement of vast numbers of agents and brokers in the insurance industry. The truth is, while AI will automate certain processes, it will ultimately enhance — rather than replace — humans in the marketing and distribution of insurance. “Human advisers are […]
It’s clear developments in artificial intelligence (AI), machine learning and other innovative technologies will have an impact on nearly every industry — including insurance and financial services. But what areas will be affected most in the near future, and how will they be affected? These are questions we explored with nearly 100 industry leaders during Denim […]
The average U.S. consumer spends five hours a day on mobile devices. Two of those hours are spent consuming social media. Advertising on these channels is a highly effective yet often underused way for companies to engage consumers and grow their business. However, taking a “spray-and-pray” approach — blasting your message out to everyone and […]
It seems all the talk and all the buzz around insurance these days is how insurance is being disrupted; that insurance disruption is the hottest and newest area of tech startup focus and of venture capital. While all of this is true, it’s my belief that insurance is not being disrupted. Here’s why… Insurance is […]
