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Facing the impact of digital transformation in property and casualty insurance, various insurance companies have set up online platforms for insurance applications and formed strategic alliances with three major distribution channels (car dealerships, insurance brokers/agents, and bank channels) to establish digital insurance platforms (B2B, B2C). This trend towards financial technology (FinTech) and the digitization of insurance technology (Insurtech) has not only affected the traditional sales approach of frontline senior property and casualty insurance agents, which relied on "face-to-face" interactions, but also changed the way business is conducted.
This research aims to explore how senior property and casualty insurance agents, in the face of digitalization, adapt to their current roles of serving various insurance companies. Through qualitative interviews with experienced professionals from different insurance companies, taking into account their gender, seniority, and age, insights were gathered on the emotional challenges and issues faced by frontline senior property and casualty insurance agents amidst the impact of digitalization. The research further investigates how these agents adapt and adjust their mindset in a positive manner to meet challenges and overcome negative behaviors. The findings are derived from the thematic analysis of qualitative interviews.
Furthermore, regarding the question of how to highlight self-worth in the face of digital disruption, many interviewees, who were senior property and casualty insurance agents, emphasized their professional expertise and obtaining professional insurance certifications as a means to demonstrate their value. By doing so, they not only gained recognition from policyholders but also distinguished themselves within the industry as professionals with specialized knowledge in property and casualty insurance. These findings were also derived from qualitative interviews and thematic analysis.
This qualitative research, conducted through interviews, provides valuable insights into the mindset adaptation and methods of highlighting self-worth for senior property and casualty insurance agents in their current roles. These insights can serve as a reference for both the agents themselves and the companies that provide human resources training and development.
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