Posts

Insurance Customers Needs Are Changing

/in , , ,

partners in riskWith all the changes going on in our world, customers’ needs seem to change as well. In a recent customer satisfaction survey regarding customer service, we found many interesting changes in what people what.
Customer service has quickly risen to the top of the priority list for consumers, and 2021 will be no exception. But why are so many businesses putting a premium on the consumer experience, and what happens if they don’t?
A customers’ loyalty is no longer based on price or product. Instead, they remain loyal to businesses because of the experiences they have had with them.

Customers want to have a place to get all their insurance fulfilled at one time.

Top Consumer Priority
1. Customer experience 46%
2. Pricing 21%
3. Product 33%

The survey found that 86% of consumers are willing to pay more for a better customer experience. How we define customer service:

• We educate rather than sell.
• Seeking alternatives to insurance is always an option.
• Giving our clients many ways to communicate with us is a priority.
• We develop relationships.
• Insurance should be one of many solutions to your risk concerns, not just a product
• Trust is one of the few remaining differentiators available to the modern insurer. Not only that, but it’s still the biggest indicator of a long-term sustainable business.

The client, regardless of the insurance firm, looks to you, the agent, for guidance, support, and responsiveness. Remember to put your client relationships first, despite the evolving tactics and focuses in today’s insurance markets, and you’ll find yourself building a book of business that sticks around for the long haul.

What Are Clients Looking For In An Agent?

/in , ,

meetingA recent study by a leading insurance research firm showed something we have been saying for years. That is, when it comes to insurance buying most people are not just looking at price. There are many factors that will lead a person or business to select their agent.

Here are some of the factors clients consider when shopping for insurance:

  1. Clients want to be educated about risks they face.
  2. Clients want their agent to ask questions about their family and business.
  3. Clients want to connect with, and be cared for by, their agent.
  4. Clients want a partnership, not a salesperson.
  5. Clients want assurance their coverage needs are met, not just “sold” a product.
  6. Clients want to understand how their insurance works.
  7. Clients want good communication with their agents.

Price is part of the process, but less than 20%, according to Yana Glezina the director of brand and communications at Rocket Referrals, a leading insurance communications platform based in Des Moines, Iowa.

Here are ways to improve communication with your clients:

  • Return calls the same day.
  • Educate—do not sell.
  • Text clients who are not into email or phone calls.
  • Send your clients thank you notes and birthday cards.
  • Be available when clients reach out randomly with a question.
  • Reach out to your clients with meaningful and timely content.
  • Respond to good and bad reviews.

If you are doing these things, then you are on your way to developing a true partnership with your clients.

Here Is Our Secret to Getting Our Clients The Best Possible Combination of Coverage, Price and Service.

/in , , , ,

light bulbThere is nothing wrong with wanting competitively priced insurance for your home or business. The issues seem to arise when an insurance consumer takes the low-cost insurance without regard to coverage, their risk, or services offered. We have found a way to help our clients get the best of both worlds; we call it CPS (coverage, price, and service).

Coverage– your policy needs to be designed to give you the insurance you need.

Price– We will work with our insurers to get you a policy you can afford with the coverage you need. We believe in value, not just low prices. We make sure you get all the credits you deserve. We will re-run your credit score as needed.

Service– Insurance is evaluated in the service you receive during the year and after a claim has been reported.

Here are the keys to getting the best possible combination of coverage price and service.

Relationships matter. Relationships still matter and always will. For all its regulations, calculations, and machinations, insurance still requires a personal touch. An agent must have a good relationship with the insurers it represents to get the best level of service, which is passed on to the customer. The agent’s relationship with the customer is important in order for the customer to receive the service they desire.

Communication. We listen to our clients, allowing us to better understand their needs and design an insurance program that meets their needs. We take the time to educate our clients on the different types of insurance, eliminating insurance that is not needed, and saving money.

Be an Invaluable Resource.  We help you understand risks you may not have known about and create insurance solutions that will cover a potentially un-insured claim.

Authenticity. By maintaining an open and honest relationship with our clients allows us to show our value and the importance of building trust. We are able to speak freely about the coverage you need and the coverage you may not need.

You are buying a process of how we work with you to provide the coverage you need.

What Keeps You Up AT Night?

/in , , ,

Every one of us has certain things that keep you up once in a while. It might be your job, the kids, illness, or other life’s problems. Our goal to make sure that protecting your family with the right insurance does not keep you up.

Here is how we help you sleep at night

  1. We never sell you a policy. We ask questions and educate you so that the coverage you but the right fit for you.
  2. Insurance is a complex transaction, so we work hard to make sure you understand how insurance works before you make a decision.
  3. Our team is licensed and have years of experience that help us better educate you.
  4. We are here to answer any questions you may have regarding your insurance decisions.

According to an Insurance Journal article, here are the top issues that keep people up.

  • Flood and other natural disasters
  • Identity theft
  • End of life issues
  • Eldercare

We can provide valuable information regarding each of these so that you can make the right decision for you and your family. We hope you noticed that we don’t just offer a quick insurance product. That is because we will only offer you an insurance solution after we fully understand your needs.

Connect with us and let us show you how we do it

Over the last sixty years, we have established a reputation for honesty, high morals, integrity and friendly, professional customer service – pillars of a successful insurance agency. Based upon this foundation, the staff of Reichley Insurance Agency commits to the following mission.

COVID-19 and the New Cyber Challenges

/in ,

The CIOVID-19 pandemic has affected the way we do business in a very significant way. Many businesses are requiring people to work remotely.  Employers are finding that having employees work remotely may be the new normal.

COVID-19 has forced us to become more dependent on the internet, as desperate measures, like social distancing, disrupt economic activity and everyday life.

This new way of doing business could mean that employees are collecting client information from home or other places that may not have the same cyber security as an office network.  In some instances, employees who are working remotely are forced to use their home computers because they do not have a company laptop.

Top Work-from-Home Cyber Concerns

  • Unsecured video conferencing
  • Using unsecured networks
  • Spam and phishing campaigns exploiting the COVID-19 pandemic
  • Maintaining security-critical operations, such as patch management
  • Supporting employees to ensure they have what they need to work from home without sacrificing security
  • Theft of client information from lap tops
  • Changes to regular security-critical processes
  • Using social media platforms from unsecured networks

What Can Employers Do to Reduce the Threat?

  • Do not open email from people you do not know.
  • Do not reveal personal or financial information in emails, and do not respond to email solicitations for this information.
  • Do not provide personal information to unknown websites or uninvestigated third-party messengers.
  • Do not share the virtual meeting URL’s on social media or other public channels.
  • Avoid clicking on links in unsolicited emails, and be wary of email attachments.
  • Lock your screen if you work in a shared space.
  • Provide corporate computers/devices to staff while teleworking, where possible.
  • Use secure, password-protected emails when sending documents.
  • Ensure that adequate information technology resources are in place to support staff.
  • Provide secure video conferencing for corporate clients (both audio/video capabilities).

Over the last sixty years, we have established a reputation for honesty, high morals, integrity and friendly, professional customer service – pillars of a successful insurance agency. Based upon this foundation, the staff of Reichley Insurance Agency commits to the following mission:

  • To provide the clients with quality products and services through financially sound insurance companies committed to the American agency system.
  • To provide prompt and courteous service by handling each account as if it were our own and by treating each client the way we would want to be treated.

How We Put People Before Policies

/in , , ,

We have used “How We Put People Before Policies” as our tagline for many years.  We use it because we truly believe that people are more important than policies.  However, a tagline is meaningless unless it is put into practice.  Here are a number of ways we carry this out this concept every day.

Each Client Is Unique

We know your insurance needs are one of a kind and require personal attention.  Your family may require certain kinds of coverage and we will make sure you understand that.

Education Comes First

Before we even talk about insurance, we want to educate you on your risks and how these risks may affect your family or business.  We believe that if you are educated about your risk you will make educated decisions.

Excellence Starts With A Human Connection

When a client calls, they get a licensed professional who can speak to their specific needs and respond accordingly.  We listen to your concerns, ask questions, and then provide a response.

We Never Stop Learning

Risk and insurance is an ever-changing field.  That is why we, as a team, continue to expand our knowledge base and further our education.  This allows us to provide you with the latest trends regarding your risk and insurance.

Relationships Matter

Insurance is a relationship between you the client, the agent, and the insurance company.  We look out after your interests—we do not work for an insurance company.  We enjoy making personal connections with our clients, and look forward to the next time we interact with them.

Client Education Trends

/in , ,

We have been on a journey for over a year to educate both agents and buyers of insurance about the most effective way to secure insurance and risk management services. It appears our work may be paying off. We are seeing more and more articles related to the buying and selling insurance that include titles like:

  • “Educate Your Clients”
  • “Discover Solutions”
  • “Quality Relationships Matter”
  • “Buyers Value Partnerships”
  • “Sales People Can’t Wing It”

These are all good articles that directly relate to what we have been saying over the past twelve months. We have reviewed a number of these articles and picked out some of the best points for agents and insurance buyers to consider. These include:

  • See your buyer’s needs through their perspective. This involves active listening on the agent’s part. Agents should talk less, and listen 80% of the time.
  • Deliver your buyer a solution — not a product. Solutions are meant to address the client’s real needs, not sell an insurance product.
  • Focus on what’s important to the client. Determine what their true needs are.
  • Focusing only on your insurance product will cause you to miss what buyer’s value from you.

If insurance buyers demand these procedures of their agents, and agents practiced these guidelines, insurance coverage would be better designed, and overall cost of risk would be lower for businesses. Insurers would be happy because losses would be reduced, and businesses would be matched with the right insurer.

Sources: Jay Mitchell, Dive Inside the Mind of Your Buyer — and Discover a Solution to Serve Them. 2.28.17, Clayton Christensen, The 4 Disciplines of Execution, Deb Calvert, Research Reveals What Buyers Value…It’s Not What You Think, 3.2.17.