For professionals who are striving to earn their place in industries like medicine or law, a clear path to achieving qualification is pretty straightforward. Attending law or medical school after graduating from an accredited university and passing the appropriate exams to work in these fields are all part of the process. While many professions in the insurance world only require a high school or college diploma, those who work in claims, risk management, risk assessment, and insurance litigation can further their expertise in the insurance industry and make themselves more marketable by becoming a Chartered Property Casualty Underwriter, or a CPCU.Continue reading
There is a reason why your inbox seems perpetually packed: email marketing works. In fact, a study found that for every $1 spent, email has an average $38 return on investment. Even in the age of social media, email marketing continues to outperform other mediums in terms of conversions and lead generation.Continue reading
You may be planning to boost your sales force or replace an agent/producer who has left the firm. Giving the new kid on your block an opportunity for success involves having an effective agent training plan in place. After all, it’s your producers who are ideal ambassadors for your products and services and the ones on the front-line generating revenue for your insurance carrier partners, your agency, and themselves.Continue reading
When we rang in 2020, did we ever in our wildest dreams (nightmares) consider that social distancing, shelter-in-place, safer-at-home, facemasks, quarantine, and lockdown would be everyday actions we’d take in our personal and work lives? Most of us considered remote work, well, “remote.” Sure, we used Go to Meeting, Google Chat, and other platforms to communicate with clients and our colleagues, but we also got into our cars or on the plane for those important face-to-face presentations, meetings, conferences, and networking. Now what? How are salespeople making it work during the COVID-19 “new normal”?Continue reading
Most of us tend to shy away from having tough conversations, particularly when we know that what we’re about to say will be a hard pill for our clients to swallow. But straight talk and transparency bring respect and trust, particularly now more than ever when there is so much stress and uncertainty as we all navigate unchartered territory.
Clients want you to communicate and tell them how it is, even if you’re delivering unwanted news. This may involve telling your clients that coverage is not available for a specific loss (consider all the loss-of-income claims filed by businesses that were shut down because of COVID-19, which is typically not covered under a Business Interruption or Property policy). Or, it may mean telling clients that certain limits are no longer possible or are more expensive to purchase because of the severity of losses the insurance industry has experienced over the last few years. There are countless examples where you know a difficult conversation has to take place with a client. Here are some tips to help those conversations go more smoothly:Continue reading
Creating a positive customer experience is more than just making sure consumers receive the products and services they requested in a timely manner. It’s about creating meaningful touchpoints throughout a transaction that help champion your organization and brand and grow your business through customer loyalty. It’s also about minimizing friction so that interactions with an organization bring satisfaction, even “deliver happiness” (to take a page from Tony Hsieh, founder of online shoe and clothing retailer Zappos).
Shaun Sharp, SVP, Customer Solutions & Business Enablement, at Distinguished Programs, along with his team is looking at different areas where the organization can improve and enhance the experience brokers and agents have with them. “We receive daily feedback from our clients and are paying close attention to how we can provide a consistent, reliable, and predictable experience that elevates the relationship we have with them. Providing a low-effort, near-frictionless, user-friendly experience is essential in facilitating transactions. We want to reduce the effort and cost for an agency to achieve their objectives – whether it’s an inquiry, a change request, or a new business submission,” said Shaun.Continue reading
Whether you’re hiring new producers for your agency or looking to up your sales game with your existing team, providing comprehensive and regular sales training will support your efforts. Even the most seasoned producers and client service reps will find valuable sales techniques to use in their approach in gaining new customers and retaining clients.Continue reading
With about a quarter of all U.S. homes primarily speaking languages other than English, and at least 350 languages spoken in homes nationwide, companies today are looking to increase their bilingual resources. Razumjeti? Ymmartaa? Comprende?Continue reading
Alternative risk mechanisms are available to help businesses address and manage their risks. This includes setting up risk retention groups (RRGs) and risk-purchasing groups (RPGs), which are often mistaken for being the same thing. While there are similarities between the two – both require members to be homogeneous and both provide liability insurance under the 1986 Federal Liability Risk Retention Act (LRRA) – they are quite different.Continue reading