Insurance Industry Leaders Reflect on 2022: Key Lessons, Surprises, and Insights
As another year closes, it's time to look back. How was 2022 for those leading the charge in insurance? Since 2019, I've asked the digital pioneers—the "lighthouses" of our industry—two key questions at year's end. First: What were your biggest experiences, surprises, or 'learnings' from the past year? Second: What are your plans and focus for the coming year? In this article, we explore the answers to the first question, gathered from the esteemed guests of the Königsmacher podcast. What's fascinating is that while some insights overlap, others are completely opposite, proving once again that there is no single path to success in insurance. You must find your own.
Common Threads and Divergent Paths: The 2022 Retrospective
The most striking observations from leaders looking back on 2022 reveal a year of adaptation, experimentation, and reaffirmation of core principles. Whether navigating the complexities of client advisory, leveraging new digital marketing tools, or refining insurance sales processes, these insights offer valuable guidance for any professional in the field.
1. The Power of Multimedia Content & Adaptation
One clear lesson from 2022 is the immense value of repurposing content across multiple formats. A prime example is the daily "Versicherungsfunk Update" audio program. Initially conceived as a podcast, the team quickly realized its potential could be multiplied. By also producing the content in 4:5 and 9:16 video formats, they optimized it for platforms like Facebook, Instagram, and LinkedIn.
The result? Not only over 1,000 daily podcast listeners but approximately 1.5 times that audience reached through social media channels. The takeaway for you: Don't limit your valuable insights to one medium. A single piece of expert advice on retirement planning or health insurance options can be an article, a short video, a podcast snippet, and a social media post, dramatically expanding your reach with minimal extra effort.
2. The Unstoppable Rise of LinkedIn as a Professional Tool
Perhaps the most significant surprise for many was the proven power of LinkedIn in 2022. One leader shared a transformative experiment: switching their profile to Creator Mode and launching a LinkedIn Newsletter. What began as a simple test to understand the platform's functionality turned into a remarkable success story.
Their follower count skyrocketed from 1,500 in the spring to over 5,000 by year's end. The newsletter itself attracted nearly 700 subscribers. From a marketing perspective, this is particularly powerful because subscribers receive the content both on LinkedIn and directly in their email inboxes, doubling the touchpoints. This underscores LinkedIn's evolution from a digital resume site to a vital platform for thought leadership, industry networking, and client education in the insurance space.
3. The Philosophy of Continuous Improvement
A recurring theme was the understanding that perfection is a journey, not a starting point. As one leader reflected on launching new media formats: "You can consider, improve, and optimize everything possible beforehand, but once you go live, you see it's still far from perfect. You have to keep working on it." This mindset is crucial whether you're implementing a new CRM system, developing a specialist advisory service for complex products like German PKV or US Medicare, or simply refining your client onboarding process.
Your Takeaway: Forge Your Own Path in 2023
The divergent answers from industry leaders highlight a vital truth. One advisor's key learning might be the irreplaceable value of face-to-face meetings, while another's is the efficiency of video consultations. One might champion deep specialization, while another advocates for a broader advisory approach.
The collective wisdom from 2022 points to three actionable strategies for your own practice:
- Embrace Multimedia: Amplify your expertise by adapting core content for different channels (audio, video, text).
- Master LinkedIn: Invest time in building your professional brand on this platform through Creator Mode and valuable content.
- Commit to Iteration: Launch, learn, and improve. Don't wait for perfect conditions to try new tools or services.
By reflecting on these insights from the digital frontrunners, you can better assess your own 2022 and enter the new year with a clearer, more adaptable strategy for growth and success in the evolving world of insurance.