
Does anyone like having an unhappy customer? Do you really like having to deal with a frustrated client? I do not; and I try really hard not to have them. According to customer service experts, customer satisfaction, or should I say un-satisfaction, can be boiled down to these areas:
- Customers do not feel heard
- Customer expectations are not realized
- Promises are not kept
- Agents are selling policies, not solving problems
In one survey by the Better Business Bureau serving Chicago and Northern Illinois, researchers found 30% of unhappy customers will simply move their business.
How To Improve Customer Satisfaction
Stop selling and start solving problems — It is easy to sell a client an insurance policy, but that may not always be the best for the client. There are other solutions like self-insurance, contractual transfer, or even a modified policy with high deductible.
Focus on personal service – Take care of your customers like they are real people; because they are. Listen with understanding and sympathy. The customer’s first impression of you is all important in gaining co-operation. You can do this by acknowledging not just the facts of the situation, but also acknowledging how the situation made them feel. For example, “It must have been frustrating for you to bring home our product only to realize it wasn’t the right model for your needs.”
Take responsibility — Never, ever blame or make excuses. Instead, take full responsibility and the initiative to do whatever you can to solve the problem as quickly as possible.
Always give your customer options — Never limit your solution to just a quick insurance fix. Ask questions to get to the issues, and then offer more than one alternative.
Show them, don’t tell them –– Present the solution, or option, to the client and then show them how you will respond. The sooner you deliver on the solution you promised, the quicker you’ll be creating another friend of your business.
We all want happy clients, but it does take work. A happy client is a happy business! GO win the day!
Simple Ways To Deliver “WOW” Customer Service
/in Customer ServiceWe have been on a journey over the past few months to discover how insurance agents and buyers need to re-think how insurance is purchased. We believe that relationships are an important part of the insurance process. Agents have relationships with insurance companies and with their clients. The agent’s objective should be to deliver “wow” customer service and provide a high level of expertise in insurance and risk management.
There are a few simple things that agents can do right now that will change the culture of your agency and help your team deliver outstanding customer service. Here are four things you can do today that will get you on the path of delivering “wow” customer service and also develop deeper relationships with your clients.
Now go make a difference!
Move From Average To Exceptional Customer Service
/in Customer ServiceWe recently ran across a study by PeopleMetrics where they outlined methods of improving the relationships between agents and customers. We thought this information fit right into our continued effort to change the way we think about the insurance buying process.
“According to a recent Accenture survey, 91% of insurers “believe that future growth depends on providing a special customer experience.” So it would appear that the industry has realized the current system is flawed and is actively interested in bridging the gap between average and exceptional. But what does an “exceptional customer experience” look like in the insurance industry?” www.peoplemetrics.com
How To Bridge The Gap Between Good And Great Customer Service
Now go win the day!
Cyber Liability; The Risk That Evolves Daily
/in InsuranceDid you know that an average business has a greater chance of having a cyber breach than it does of having a fire? It is true, and your business insurance policy most likely will not cover cyber liability losses.
Technology has enabled the common criminal to get into the world of cyber crime. Small businesses are a prime target, as most small businesses have little to no protection. Criminals can actually purchase programs that can be set up to hack dozens of businesses at the same time. It is important that your business has the right business insurance, including cyber liability insurance. Here are a few of the evolving cyber threats.
Malware hacks
These are programs that can be attached to an email or web site. The malware then can target specific systems.
Example–A small retail shop owner opened an email with a malware attached. The hack program then found 1,500 credit card numbers of the shop’s customers. The shop did not know about the hack until customers called about the fraudulent charges. The shop owner incurred over $75,000 in notification and payment expenses.
Social Hackers
This scam involves someone posing as a trusted bank or other advisor. The criminal then relies on the business owner or manager believing the call is legitimate and divulging privileged information.
Example–A CFO received a call from a hacker (acting as a bank official) requesting verification of account information. Through the process, the hacker obtained privileged information. They then used this information together with other data to make withdrawals from company accounts.
Key Business Insurance Coverage Offers Real Solutions
Why Hand The Baton To An Agent?
/in Customer Service, Insurance, RelationshipsWhat are some of the benefits of passing the baton to an independent agent?
Together we will run the race with professionalism, excitement, experience, and customer service in mind, to deliver the best possible combination of coverage, service, and price.
Three Things Every Agent Should Be Doing
/in Customer ServiceIn case you have not figured it out, I am on a mission to change the way agents/brokers and their clients interact with each other. There are three things that every agent should be doing with their clients; educate, educate, educate. Ok I know what you are thinking. Just like real-estate, it is location, location, and location. But not so fast.
Here Is What I Mean By Educate
Educate Your Clients About Their Risk
The very first thing every agent needs to do is help their clients understand what their risks are. Not just simply fire, wind, and auto hazards, but rather the client’s complete risks. These risks can include liability assumed in a contract, cyber risk, employment liability, and more. This involves truly understanding the client’s business and how to create and deliver real solutions; some of which may not include insurance.
Educate Your Clients About Insurance
Every agent needs to be providing information to their clients on how insurance works, and the pros and cons of the insurance their clients are considering. Do your clients fully understand all the terms, conditions, and exclusions of their insurance?
Educate Your Clients About The Market
It is very important that your clients understand how the insurance markets work, including market trends and market volatility. The swings in market pricing can actually provide opportunities for our clients. As prices go up, why not increase the deductible, thus keeping premiums level?
It should always be the goal of every agent to help your clients understand the value you bring to the relationship.
Do You Want To Avoid Unhappy Customers?
/in AgentDoes anyone like having an unhappy customer? Do you really like having to deal with a frustrated client? I do not; and I try really hard not to have them. According to customer service experts, customer satisfaction, or should I say un-satisfaction, can be boiled down to these areas:
In one survey by the Better Business Bureau serving Chicago and Northern Illinois, researchers found 30% of unhappy customers will simply move their business.
How To Improve Customer Satisfaction
Stop selling and start solving problems — It is easy to sell a client an insurance policy, but that may not always be the best for the client. There are other solutions like self-insurance, contractual transfer, or even a modified policy with high deductible.
Focus on personal service – Take care of your customers like they are real people; because they are. Listen with understanding and sympathy. The customer’s first impression of you is all important in gaining co-operation. You can do this by acknowledging not just the facts of the situation, but also acknowledging how the situation made them feel. For example, “It must have been frustrating for you to bring home our product only to realize it wasn’t the right model for your needs.”
Take responsibility — Never, ever blame or make excuses. Instead, take full responsibility and the initiative to do whatever you can to solve the problem as quickly as possible.
Always give your customer options — Never limit your solution to just a quick insurance fix. Ask questions to get to the issues, and then offer more than one alternative.
Show them, don’t tell them –– Present the solution, or option, to the client and then show them how you will respond. The sooner you deliver on the solution you promised, the quicker you’ll be creating another friend of your business.
We all want happy clients, but it does take work. A happy client is a happy business! GO win the day!
What Does Outstanding Customer Service Look Like?
/in Agent, InsuranceHave you left a business and thought, “How are they even in business”? Or have you gotten off the phone and said, “They don’t understand or care about my needs or even respect me”? We have had those experiences, and we don’t ever want any of our customers to feel that way about our firm.
Outstanding customer service can mean something different to each person. However, we believe there is a basic underlying attitude of a firm that provides outstanding customer service. We would like to share our thoughts on what our firm believes contributes to outstanding customer service. Outstanding customer service is a mindset that we want every employee to have.
We practice three basic principles when relating to clients: empathy, appreciation and helpfulness.
Here are other guiding principles that every agency should live by
Insurance is not a product. It is a promise and a trusted relationship. Here at Reichley Insurance Agency, we are not going to sell you something you don’t need. We want to talk to you, determine your needs, and get you covered at the right price.
Five Things to Do Before You Start Your New Business
/in Agent, InsuranceThe latest news from the Small Business Administration is that only 60% of new businesses survive at least 2 years. Of that 60%, only 44% survive another two years. It is a fact that more small businesses fail then succeed. The two main reasons for failure are lack of planning and funding. While we can’t help with the funding part, we can offer some ideas about new business planning.
We found at least five things entrepreneurs should consider as part of their development process. We understand there are more, but this is a good start.
Insurance is not a product. It is a promise and a trusted relationship. Here at Reichley Insurance Agency, we are not going to sell you something you don’t need. We want to talk to you, determine your needs, and get you covered at the right price.
Good luck and call us with any questions so we can help you achieve your goals!
Insurance & Risk Best Practices
/in Agent, InsuranceWhat Large Companies Do To Lower Costs That Any Company Can Do
As we continue on our journey to a better understanding of insurance, we thought it would be informative to identify some risk management “best practices” of larger companies. We believe that many of these “best practices” can, and should, be discussed with businesses of all sizes.
The good news is that these generally don’t create additional costs to the company; in fact, they usually reduce costs!
Insurance & Risk Best Practices
At Reichley Insurance, our employees are committed to developing ongoing communication with our clients and striving to exceed your expectations. You are not buying a product; you are managing your risk. Remember, insurance is not a product; it’s a promise and a trusted relationship.
Cost of Risk Part Two
/in Insurance“Total Cost of Risk” is the sum of the costs arising from all classes of risk faced by an organization. Insurance is one component of a risk management strategic plan that protects your assets. There are many benefits to this new approach.
Benefits of a total cost of risk approach
Total Cost of Risk
The key is there are ways to lower costs in each of these areas that don’t have anything to do with insurance. Having a trusted advisor who can help you evaluate this will serve you well in the long run.