5 ways to actively demonstrate your value to insurance clients
How proactively selling service strengthens ongoing relationships for insurance agents and brokers.
“What have you done for me lately?” Once you’ve got the client, the challenge becomes keeping the client.
Realtors understand this challenge. Historically, there’s been a distinction between financial advisors and Realtors. For a Realtor, when the prospect says “Yes. I’ll buy the house” the work is just getting started. The Realtor needs to keep the deal together through the mortgage and inspection processes and all the other bumps in the road before closing.
How does this apply to you? Realtors need to make a compelling case to keep their client at the firm as competitors are trying to lure them away. You can do it too.
Here are some easy steps to keep clients happy and feeling important.
1. Meaningful contacts.
You’ve seen the statistics. Clients feel like they are getting good service if they get six or more meaningful contacts a year. Although birthday cards are important, meaningful is seen as not just calling to check in and say hello. Lots of stuff takes place behind the curtain. What’s meaningful?
News is breaking all the time. Your client likely watches CNBC, CNN or Fox News in the morning and hear about the latest world event causing anxiety. Call and talk about it.
2. Policy reviews.
Clients want report cards. Getting them to focus on their policies on at least a quarterly basis is a great idea. Review every policy and make appropriate recommendations.
3. Continuing education.
Your client calls. You are away at class. Don’t apologize when you return — explain you are studying for an additional professional certification, if that’s the case. Explain what it is and how this new knowledge might benefit them.
Then your client doesn’t get the feeling you are coasting in your career. Instead, you are always learning. They may have CE requirements in their field and will likely be curious how your new knowledge can be put to work for them.
4. Get and give credit when it’s deserved.
When a client needs something, like documentation, they usually talk to your assistant. The document is found and sent off. End of story.
It makes sense for you to call and confirm receipt. Once you know the job has been completed satisfactorily, take time to walk them through the details.
In another case, your assistant determined that piece of data was in central records storage at the firm’s HQ. It’s old, still on paper. He called the relevant department and made the request. They found the document. He insisted it be overnighted to the office, then overnighted it to you. You give all the credit to your team.
Your client had no idea of the work involved. You demonstrated the resourcefulness of your team and how the firm came together to solve their problem.
5. Recommended publications.
You can’t control what your client reads or watches, but you can try to influence it. Have a conversation or compose a letter indicating you follow several news sources, online and in print to stay on top of insurance markets. You thought they might be interested. You name a few. The publications might be the WSJ, Barrons and the Economist. The website list leads off with your firm’s online portal for research.
Clients will realize you are paying attention. They will check out some of the resources you suggested. They might call and ask why you find them useful. You will have directed them to mainstream sites for insurance news.
Many clients don’t fully understand the amount of work you do on their behalf behind the scenes. These are easy ways to pull the curtain away, showing you are providing great service.
Bryce Sanders (brycesanders@msn.com) is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” can be found on Amazon.
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