Complacent agents sell policies and then touch base with their insureds only during the holidays and at renewal time. If that's how you are running your agency, it's time to consider what you are taking for granted.
A complacent approach may have worked well in the old days, but times have changed. Now more than ever, insurance brokers need to go the extra mile for customers.
Simply put, if you want to keep the business, you have to earn the business. What's Changed in the Insurance Market?
There are three key reasons why you have to work harder to keep your customers:
- A Higher Customer Service Bar. Your competition is no longer limited to other independent agents. In the customer service arena, you are competing against all the other customer service experiences your customers experience. The standard for what customers expect from their vendors has risen over the years. These days, if you are standing still, you are falling behind.
- More Efficient Access to Information. The Internet gives your customers instant access to information. That means they can easily learn about competitive alternatives. If they learn about other options and you aren't paying much attention to them, they may be considering switching.
- Switching Insurance Companies Is Easier Than Ever. If a customer decides they want to switch insurance brokers, it's now easier than ever to switch. Today, it can be done quickly and easily via the Internet. Online tools let insurance buyers compare carriers and policies online and instantly request quotes. So, if you're not pleasing your customers, they can switch to a new broker or carrier fast. All the more reason to keep them happy, don't you think?
So how do you avoid the complacency trap? It's all about offering valued services to your customers.
Insurance isn't just about minimizing the damage when an incident occurs. You have to offer more services to justify your fees. Here are a few ideas: