partners in risk

The Value of Giving Back In Business

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The truth of being a business owner is that juggling day-to-day operations with long-term objectives consumes the majority of your time and energy. It’s easy to let giving back fall by the wayside if you don’t have a solid plan in place to truly incorporate it into your business strategy. Do you recall your first experience sharing as a child? Most parents educate their children that they must share their toys if they want others to play with them. This is a crucial lesson that we often overlook as adults, and it applies to a wide range of situations.

There are so many ways to incorporate this idea into your business. It does not have to be giving a lot of money. Often giving of your experience or expertise can add significant value to others.

Here are a few ideas

  • Find ways to offer your services pro bono. Maybe as an agent, you can offer to review a local business’s insurance without any obligation on the business’s part.
  • Be willing to speak at the local Chamber or other nonprofit.
  • Engage your team. Creating a giving culture at work has its advantages regarding employee engagement. It also gives employees a greater sense of ownership in the organization they work for.
  • Join a nonprofit board. Nonprofits are continuously looking for successful executives to join their boards of directors. A position like this allows you to control the organization’s course while also allowing you to leverage your network to collect funding for it.

The potential to make a difference is the most basic benefit of donating or setting aside money for community welfare. There’s nothing like seeing your neighborhood or community improve to make it a better place to live. Communities that can improve their lives will be able to make a good contribution to the economy as a whole.

 

partners in risk

Proven Ways To Build Strong Insurance Relationships

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The partnership between an insurance agent, an insurer, and a client is one of the most important in the industry. Carriers and the underwriters create policies and take on risks for insureds, whereas brokers assist their clients in finding the best insurance policies and carriers for their needs.

The independent agent and broker are the industry’s backbone. They are the primary channel of distribution for commercial property and casualty insurance.

How To Build And Maintain Strong Relationships

Don’t base your relationship on technology

Technology is good and effective tool for both the agent and their clients. But don’t make technology so important that any personal communication is lost.

Follow Through

Agents should build strong relationships with their clients by following through on their commitments and being communicative in the event that something changes, in addition to offering services and advice that help insureds avoid losses. If you say you’re going to do something, you must do it. If you can’t do it, you say, ‘I’m not going to be able to meet the commitment,’ and then you set a new expectation.

Focus on more than just pricing

When it comes to building a strong relationship with insurance agents, one thing that stands out above all else is the need to add value that goes beyond offering competitive insurance prices. When comparing options today, insureds should look for an agent who will not only provide the coverages they require but will also serve as a risk management partner.

Be Consistent

Consistency is essential in all aspects of communication and service. It establishes a pattern that customers can expect, which helps to highlight your value proposition and enhance the customer experience. Simply personalize interactions by framing conversations and messaging in less “scripted” ways. According to one survey, most marketers fail to personalize communication beyond digital channels. Get more customer-specific the next time you pick up the phone. It should contribute to the relationship’s strengthening.

The customer, regardless of the insurance company, ultimately looks to you, the agent, for advice, service, and responsiveness. Regardless of the shifting strategies and focuses in today’s insurance markets, remember to prioritize your customer relationships first, and you’ll find yourself building a book of business that will last for a long time.

 

partners in risk

Improve Your Customer Service Experience

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Customers are the lifeblood of any business and should always take precedence. Customer experience enhancements result in a more loyal customer base. Loyal customers purchase more frequently, spend more, and recommend you to their friends and family. They leave positive reviews for customers. So how are you and your team going to accomplish this? The objective is not simply to have happy clients but also to have educated partners.

The customer experience can be defined by the interactions and experiences your customer has with your agency throughout the entire customer journey, from first contact to becoming a happy and loyal customer.

Several of the most frequent causes of negative customer experiences include the following:

  • Procurement procedures that are difficult
  • Negative customer service experiences
  • Compromise the personal security of a customer
  • Waiting an excessive amount of time on hold
  • Ignoring feedback from customers

Here are a few actions you can take to improve your customer service experience.

  1. Know your customers. The first step in customer service is to understand your customers’ needs, experiences, and expectations.
  2. Treat customers as you would want to be treated.
  3. Maintain personal, old-fashioned contact with clients. In an age of automation, being a little retro can have significant benefits for your business.
  4. Teach about risk and insurance, don’t just sell a policy.
  5. When a customer signs up for your free trial or purchases your product, do you reach out with a personalized email or send a thank you note.
  6. As we all know; successful businesses are those that maintain a high level of customer satisfaction. One of the most critical components of developing strong customer relationships is involving them in community or social events. When you include customers on your team and give them credit for your success, they feel valued and honored. It is a significant event for them.

While the massive national agencies spend millions on television ads and offer barebones policies, they do not know you. When your needs change or your situation complicates, you don’t want an automated phone tree or cold cyber-agent. You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

Call today to alleviate the worry and get covered – (937) 429-0655.

partners in risk

Agents And Insurance Buyers Can Always Learn Something New

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It seems that the insurance buying process often sets up the perfect storm of comparing coverage, pricing, and service, but it ends up with low-cost winning in the short term and then losing when a claim occurs. How can we help change our understanding of this process so that everyone gets a win? Here are some thoughts.

Agents Should

Be prepared, educate yourself on insurance and risk management. Coming to consultations well-versed in the needs of the other person also assures them that you as the agent will go the extra mile on their behalf.

Listen, ultimately, you’re here to help your customers. If they believe your plan takes precedence over theirs, your business relationship will not last long. You can only meet someone else’s needs if you listen to what those needs are, so always be ready to listen as well as speak.

Try to sell rather than teach, here is what we like to do before we even say the word insurance. We ask questions to understand your needs better. We share our knowledge about your risks, and we help identify the individual risks you face and start the process of putting together a plan to protect you with a combination of insurance, risk transfer, and avoidance techniques.

Our clients routinely tell us that “this is the first time someone took the time to explain this to them. They feel empowered to control and have ownership of their insurance program.

Insurance Buyers Should

Shopping for insurance based solely on price. Comparing insurance policies can be perplexing, but resist the temptation to simply select the policy with the lowest premium. Consider the agent’s qualification, experience, and the company’s reputation, as well as the coverage you’d receive for the premium.

Understand what you are buying, make sure you understand what your insurance policy covers and does not cover.

Not updating your coverage, how long has your family or company had the same insurance policy or policies? You could be making a costly mistake if you simply renew your policy year after year. Consider how much your family or business has changed in the last year.

While the massive national agencies spend millions on television ads and offer barebones policies, they do not know you. When your needs change or your situation complicates, you don’t want an automated phone tree or cold cyber-agent. You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

Call today to alleviate the worry and get covered – (937) 429-0655.

partners in risk

Proven Ways To Build Strong Insurance Relationships

/in , , , ,

The partnership between an insurance agent, an insurer, and a client is one of the most important in the industry. Carriers and the underwriters create policies and take on risks for insureds, whereas brokers assist their clients in finding the best insurance policies and carriers for their needs.

The independent agent and broker are the industry’s backbone. They are the primary channel of distribution for commercial property and casualty insurance.

How To Build And Maintain Strong Relationships

Don’t base your relationship on technology

Technology is good and effective tool for both the agent and their clients. But don’t make technology so important that any personal communication is lost.

Follow Through

Agents should build strong relationships with their clients by following through on their commitments and being communicative in the event that something changes, in addition to offering services and advice that help insureds avoid losses. If you say you’re going to do something, you must do it. If you can’t do it, you say, ‘I’m not going to be able to meet the commitment,’ and then you set a new expectation.

Focus on more than just pricing

When it comes to building a strong relationship with insurance agents, one thing that stands out above all else is the need to add value that goes beyond offering competitive insurance prices. When comparing options today, insureds should look for an agent who will not only provide the coverages they require but will also serve as a risk management partner.

Be Consistent

Consistency is essential in all aspects of communication and service. It establishes a pattern that customers can expect, which helps to highlight your value proposition and enhance the customer experience. Simply personalize interactions by framing conversations and messaging in less “scripted” ways. According to one survey, most marketers fail to personalize communication beyond digital channels. Get more customer-specific the next time you pick up the phone. It should contribute to the relationship’s strengthening.

The customer, regardless of the insurance company, ultimately looks to you, the agent, for advice, service, and responsiveness. Regardless of the shifting strategies and focuses in today’s insurance markets, remember to prioritize your customer relationships first, and you’ll find yourself building a book of business that will last for a long time.

While the massive national agencies spend millions on television ads and offer barebones policies, they do not know you. When your needs change or your situation complicates, you don’t want an automated phone tree or cold cyber-agent. You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

Call today to alleviate the worry and get covered – (937) 429-0655

partners in risk

How Agents Can Become Partners With Their Clients

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For an agency to grow truly sustainable, it is critical to accomplish two things, sell insurance and develop and maintain strong client relationships. It is common for agency to concentrate their efforts on acquiring new customers but neglect building strong relationships with their clients. There is a balance that every agency employee needs to manage in order for the agency to thrive. These are some actions to help agents keep that balance.

Be Transparent

Transparency is critical for developing trust with clients and begins with effective communication. Maintain an open line of communication with your clients. Early on, have direct conversations to discuss and establish expectations. One point to discuss is the price you will charge and the services you will provide. Additionally, you should discuss your security policies and how you intend to safeguard their information. Inform them of your offerings and solicit their feedback on how you can best meet their needs. Engagement letters can be beneficial in this situation. You should outline expectations for both parties in the engagement letter to ensure that you are on the same page from the start.

Be Available

Making time for your clients demonstrates your appreciation for them. This does not mean you should stop everything the moment they contact you. Communicate openly and honestly that you have other clients and obligations but still want to be there for them. Establish effective methods of communication through which your clients can contact you. You should collaborate to determine the most effective method of communication, whether it is via email, a client portal, text message, over the phone, or in person. When they contact you, promptly respond to their questions, concerns, and requests.

Be Dependable

Assure your clients that they can rely on you. Complete your work on time. Be thorough and precise in everything you do. Regardless of the size of the task, give it your all. Communicate any issues or complications to your clients. Additionally, you should communicate plainly that you are in control of the situation.

Remember that communication is critical to developing a trustworthy relationship; speak with your clients to ascertain their top priorities and then incorporate their preferences into your workflow. A little bit of deliberate listening can go a long way toward establishing respect and appreciation.

You want to talk to compassionate, honest insurance experts – that’s our team. You shouldn’t have to spend hours researching and comparing policies. Let the specialists at Reichley guide you through the complex insurance industry.

Call today to alleviate the worry and get covered – (937) 429-0655.

 

meeting

How We Develop Motivated Professionals

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There is no question most agencies are not managed or led by just one person. Usually, there are a number of people who contribute to the company’s success. One of our agency’s guiding principles is that we are a team, a bomber squadron, not individual fighter pilots. While both are needed, we tend to think of ourselves as a group of professionals all with the common goal of serving our clients.

Bomber Squadron Traits

  • Individuals must work together to accomplish a goal
  • If one person slacks on the job, the rest suffer
  • Everyone gets the win when the job is done right

Fighter Pilot Traits

  • Individual focused
  • Risk-taker
  • Reckless

Collaboration and teamwork in business are in the top four skills that determine the success of an employee. Through teamwork, a person can have their voice heard, leading to better ideas and more revenue for a company.

Increased production, creativity, and client satisfaction are the benefits of teamwork. Because teams can solve problems faster due to the range of methods and skillsets, organizations with well-functioning teams generally outperform their competitors.

How We Define Success

  • Did we help someone today?
  • Did we solve a problem?
  • Were we able to educate and inform a prospect or client?
  • Do our clients feel more comfortable?
  • When a group of coworkers get together, bounce ideas off one another, and share feedback with one another, beautiful things in the company can happen, and our clients benefit.

How Does This Benefit Our Clients?

  • Create new ways of looking at insurance issues.
  • Better informed and educated clients.
  • We hold each other accountable, which improves customer satisfaction.
  • The workflow is streamlined, creating more effective communication.
  • People are empowered to make decisions in order to meet the customer’s needs.

We invite you to become part of your team. 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. Our team is ready to educate and serve you.

Insurance Customers Needs Are Changing

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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?

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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.

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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.