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What Do You Want From Your Insurance Relationship?

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The best relationships are built to last.  Long-term financial relationships are much more than a quick transaction or low price.  Recent surveys by JD Power & Associates found that consumers actually valued long-term relationships.  There are many ways agents can build value and create lasting positive relationships with their clients.

Why Lasting Relationships Matter

If you listen to most insurance advertisements, they tell you to shop your insurance every year and over time, you may save money.  The problem with this concept is insurance is not a specific “one size fits all” product that you might buy and expect to be what you need.  For example, when you buy a faucet, you would not buy all the individual components of a faucet, put it together yourself, and hope it worked.  Rather, you purchase a completed faucet, install it, and it works for years as promised when you bought it.

With insurance, you go into a contractual agreement with the insurer that your claim will be paid based on the terms of the policy.  Insurance is unique and it takes knowledge and skill to put together the right combination of coverage for each individual.  Why would anyone build an insurance product themselves when a professional, experienced, and licensed agent can do it better?

Your Agent Will Care About What You Care About

  1. An agent will get to know your family and your individual needs. Over time, agents develop close relationships with their clients and care about their well-being. Wouldn’t it be good to be on a first-name basis with an agent who knows you and your family, and lives and works in the same local community that you do?
  2. Your agent will know what risks you have. As in any relationship your agent will better understand your risks and be able to educate you on how to manage these risks.
  3. You care about convenience, choices, and control. Your agent will provide you with options of Insurance policies, the ability to control how you access your account, and the convenience of a simple insurance purchasing process.

How Agents Help Build Lasting Relationships

  1. By educating their clients rather than selling a product.
  2. Agents are always keeping up on the latest issues and trends to share with their clients.
  3. You can call their office and get a professional team member who knows who you are.
  4. Agents will meet you where you are.
  5. Life-changing events may require a meeting with your agent; we are here for you.
  6. Instead of calling a voicemail or making an appointment, interested consumers can speak directly with an agent immediately and ask any question they choose.
  7. Agents know what your insurance policies cover and do not cover, which helps you when you have a claim.
  8. An agent will take the lead and work through a claim to make sure you are satisfied.

In conclusion, our marketing plan is not based on internet ads, or catchy slogans, our marketing plan is to have completely happy and satisfied customers and build long-lasting relationships.

Tom and Harry’s Insurance Inning

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On a sunny afternoon at the local baseball stadium, Tom and Harry were perched on the bleachers, hot dogs in hand, ready to enjoy the game. Between cheers and jeers, they ventured into a familiar debate territory—insurance policies.

Tom: (pointing to the pitcher with his hot dog) You know, Harry, managing your insurance is a bit like this game. You can’t just set your lineup once and forget about it. The season changes, players get injured, and you have to make adjustments.

Harry: (grinning as he takes a bite of his hot dog) Come on, Tom. Once you’ve got a good team, why keep messing with the lineup? Seems like a lot of unnecessary fuss to me.

Tom: It might seem that way, but think about it. What if your favorite player gets traded? Or what if a rookie turns out to be a superstar? If you don’t reassess your team, you might miss out on capitalizing on new talent.

Harry: (chuckles) I see your point, but isn’t it a bit different with insurance? I mean, how much can really change in a year?

Tom: You’d be surprised! Maybe you’ve upgraded your house with a new security system, or perhaps the value of your car has depreciated significantly. Those changes can affect your premiums, your coverage—everything.

Harry: Okay, so say I buy that. Doesn’t reviewing your policy just give your agent a chance to upsell you on stuff you don’t need?

Tom: Not if you have the right agent. They should be helping you adjust your policies to fit your needs, maybe even saving you money. Just like a good manager makes strategic swaps to improve the team.

Harry: (nodding slowly) Alright, that makes sense. But what about all the time that takes? Sitting down, going through all the details…

Tom: Think of it as a seventh-inning stretch for your finances. Sure, it takes a little time out of your day, but the peace of mind it brings? That’s worth a double-header.

Harry: (laughs) Well, when you put it like that, maybe I can handle stretching my legs a bit.

Tom: Exactly, Harry. And who knows? You might find out you’re overpaying, or that you’re not as covered as you thought. Wouldn’t you want to know that sooner rather than later?

Harry: True enough. Next thing you’re going to tell me is that it’s like checking the score, right?

Tom: You got it! It’s all about knowing where you stand. (pauses as the crowd cheers a home run) See? Just like that homer, life can throw surprises. Better to be ready for them.

Harry: Alright, I’ll think about giving my agent a call. But if this turns into extra innings, I’m blaming you!

Tom: Deal! But only if you buy the next round of hot dogs.

As the game played on, it was clear their conversation had given Harry a new perspective on his insurance approach—proving that even a casual chat at a baseball game could lead to game-changing decisions.

 

Tom and Harry’s Par-Tee Debate on Insurance Agents

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On a sunny Saturday morning at the local Green Meadows Golf Course, two lifelong friends, Tom and Harry, found themselves in the midst of a discussion that was as meandering as the course itself. The topic of the day? The virtues of an insurance agent who educates and nurtures relationships with clients versus one who merely sells a product.

As they approached the first tee, Tom, ever the pragmatist, launched the opening salvo. “You know, Harry, I think an insurance agent should be like a good caddy. They should know the course, understand the traps, and help you make the best shot possible,” he said, taking a practice swing. Remember, insurance is all about the final cost.

Harry, adjusting his sunhat, chuckled. “Absolutely, but there’s a catch. My agent is like that caddy who not only carries your clubs but also teaches you which club to use and why. It’s not just about making sales; it’s about making sense of the insurance jungle.”

The two teed off, and the debate continued as they strolled to their balls. “See, my guy does the basics, and that’s fine by me. As long as I’m covered, why need the extra fluff?” Tom queried, eyeing his shot.

“Fluff?” Harry exclaimed with a grin. “It’s hardly fluff when you’re facing a sand trap of legal jargon and complex clauses! That’s when you need someone who doesn’t just hand you a club but also shows you how to swing it.”

As they reached the green, Tom lined up his putt. “I guess when you put it that way, it does make sense. Maybe I do need someone who isn’t just there at the sale but walks the course with me.”

“Exactly!” Harry replied, as he watched Tom narrowly miss his putt. “It’s about building a relationship where they know your game, your life, your family, your business, and how it all changes over the years. That’s the agent who not only gets you onto the green but helps you stay there.”

They moved on to the next hole, with the conversation drifting from insurance to other life matters. However, the topic resurfaced again as they waited for a slow group ahead.

“You know, I think you’re onto something,” Tom conceded as they observed the tortoise-paced foursome. “Maybe I should look for an agent who’s more like a coach than a salesman. Someone who’s there in the long haul, not just for the quick sale.”

Harry nodded, taking a sip from his water bottle. “And when life throws you a curveball, or in our case, a rogue golf ball, you’ll have someone who understands your game well enough to help you play through it.”

As they finished up their round, the two friends realized that while they might not agree on every stroke or strategy in golf, when it came to insurance, they both valued someone who was more partner than pitchman.

With their clubs slung over their shoulders and the sun setting behind the 18th hole, Harry quipped, “Just think, Tom, with the right agent, dealing with insurance could be almost as enjoyable as golf!”

Tom laughed. “Let’s not get ahead of ourselves. But maybe a bit less frustrating.”

And with that, the two walked off the course, their debate settled, at least until the next round.

 

Grill Talk: Tom and Harry’s Fiery Debate on Annual Insurance Reviews

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Tom flipped a burger on his well-worn grill with the expertise of a seasoned pitmaster while Harry lounged nearby, nursing a cold drink in the laid-back ambiance of Tom’s backyard. The smell of barbecue filled the air, mingling with the faint sounds of a summer playlist. It was the perfect setting for another one of their friendly debates.

“You know, Harry, I was thinking about our chat the other day on the golf course,” Tom began, seizing the opportunity as he turned the sausages sizzling on the grill. “It’s really crucial to sit down with your insurance agent annually to review your coverage. Life changes, and so do your insurance needs.”

Harry raised an eyebrow, setting his drink down. “Come on, Tom. Once you’re covered, why fix what isn’t broken? It’s not like insurance policies are daily specials at a restaurant.”

Tom chuckled, prodding the coals with his grilling fork. “That’s where you’re wrong, buddy. Think about it—what if you renovated the kitchen, or one of the kids started driving? Those changes could seriously affect your coverage needs. It’s not just about buying insurance; it’s about updating it to suit your life.”

Harry sighed, watching the smoke drift lazily up into the tree-lined sky. “I suppose you have a point, but doesn’t that just complicate things? I’d rather set it and forget it, enjoy my backyard, not sit in some stuffy office talking about hypothetical disasters.”

Piling a perfectly grilled burger on a bun, Tom passed it to Harry. “But that’s just it; it’s not all hypothetical. Last year, after our review, we realized we were underinsured on our home. And with the way property values have been going up, can you imagine the pickle we’d be in if something happened?”

Harry took a thoughtful bite of his burger, the juices mingling with the tangy barbecue sauce. “Well, when you put it that way… Maybe there’s some merit to your annual check-up idea.”

Tom smiled, pleased with the slight concession. “It’s like maintaining your car or even this old grill. Regular check-ups keep surprises at bay, and you know how much I hate surprises.”

Harry chuckled, his resistance thawing like the ice in his glass. “Okay, okay, maybe I’ll give my agent a call. But only if you promise to keep these burgers coming.”

“Deal!” Tom exclaimed, clinking his bottle against Harry’s. “Insurance might not be the most exciting thing to review, but it’s better to be safe than sorry. And hey, we can make it a tradition—annual insurance chat and a barbecue.”

As the evening wore on, the friends continued to discuss, laugh, and share stories. The casual backyard setting had a way of turning even the most mundane topics into enjoyable conversations. Whether they were talking about insurance or not, it was clear that these gatherings were about more than just the food—they were about staying connected, staying informed, and, of course, staying well-fed.

 

What Are the Traits of a Good Insurance Agent?

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Very Simply Put

  1. Honesty

Selling insurance is about giving customers, businesses, and individuals solutions to their risk issues. Misrepresenting the facts, or trying to sell a policy, does more harm than good to their customers. A good agent will not try to sell anything; they will listen and become a problem solver first. Then and only then might insurance solutions or options be provided.

  1. Responsive Client Service

When clients phones or emails, a timely answer is essential because they need the information to make decisions. When a client spends their money, they have a right to feel secure and content during the course of the business relationship. Through actively listening to and empathizing with our valued clients, agents can find success

  1. Industry Knowledge

Selling a policy is only one aspect of what it means to be an insurance agent. Agents must be able to provide a thorough understanding of all facets of the products and services they sell, as well as how each client’s situation may be addressed. The agent should be trained in all aspects of the risk management process.

  1. Community Involvement

Being a respectable member of the community is a must for running a successful insurance agency. We believe in fostering relationships and giving our neighbors access to resources because we are local leaders. To make the neighborhood a better and safer place to live, we collaborate with customers and businesses.

Our Philosophy

Over the last sixty years, we have established a reputation for honesty, high morals, integrity and friendly, professional customer service – pillars of a successful insurance agency. Based upon this foundation, the staff of Reichley Insurance Agency commits to the following mission:

  • To provide the clients with quality products and services through financially sound insurance companies committed to the American agency system.
  • To provide prompt and courteous service by handling each account as if it were our own and by treating each client the way we would want to be treated.

We further commit:

  • To enhance our professionalism by continuing our education in the insurance industry as well as supporting opportunities for personal growth.
  • To communicate with each other and work together in harmony towards the success of the agency, and each participant within the agency.

These commitments result in the highest of customer satisfaction and confidence. They are Reichley Insurance Agency’s highest priorities. Achieving them enables both collective and individual success and thus fulfill our mission.

 

Two Ways to View Insurance

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Tom And Harrys Excellent Adventure

Inside the bustling confines of Café Caffeine, amidst the clinking of cups and the murmur of conversation, sat two friends and insurance agents, Tom and Harry, engaged in a spirited debate. Tom was a stickler for slashing prices, while Harry prided himself on selling the value, not just the steak.

Tom: “Harry, you’ve got to admit, nothing makes the phone ring like screaming, ‘Discounts! Get your discounts here!’ It’s like opening the floodgates.”

Harry, with a mischievous grin: “Oh, Tom, that’s one way to do it. If you’re running a supermarket sweep. Me? I prefer to think of insurance as fine dining, a vule. Why sell fast food when you can offer a gourmet experience?”

Tom: “Gourmet? It’s insurance, Harry, not a Michelin-star restaurant. People want savings, not caviar with their coverage.”

Harry: “Ah, but that’s where you’re missing the true value or flavor, my friend. When I sell a policy, I’m not just offering protection; I’m selling peace of mind and 24/7 concierge. It’s like insurance à la carte. Sure, you might lure them in with discounts, but I keep them coming back with the full-service experience.”

Tom: “Concierge, huh? What do you do, tuck them in at night and read them their policy until they fall asleep?”

Harry, laughing: “Only on request. But think about it. When someone’s life goes sideways, they don’t remember the 10% they saved. They remember the voice on the line or the personal visit, helping them patch their world back together. That’s value, my friend.”

Tom, chuckling: “I suppose next you’ll offer to insure their heartbreak too?”

Harry: “Now there’s an idea! ‘Broken hearts mended here. Terms and conditions apply.’ I’d buy that.”

Tom: “Alright, Harry, you’ve made your point. Value has its… well, value. But if you start offering heartbreak insurance, sign me up. I might finally get over my high school crush.”

Harry: “Deal. But it comes with a premium. After all, the true value is priceless.”

As they shared a laugh, it was clear that while their methods might diverge, their hearts and their humor were in the right place. In the world of insurance, whether you’re selling on price or on value, the real win is in making sure your clients feel protected, appreciated, and, yes, even a little bit entertained.

 

 

Navigating Insurance, A Year In Review 2023

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The insurance industry saw significant changes in 2023 due to technological advancements, regulatory shifts, and economic uncertainties. Let’s examine the major concerns for individuals and businesses within this evolving insurance landscape, emphasizing the need for strategic planning and informed decision-making.

Top Insurance Issues In 2023

Cybersecurity Threats: With the digital age intensifying, families and businesses face increased risks of cyber-attacks and identity theft. Comprehensive insurance policies covering identity theft, data breaches, and ransomware attacks are in high demand.

Supply Chain Disruptions: Ongoing global supply chain issues necessitate insurance solutions to mitigate risks related to operational delays and disruptions.

Rate Increases: The insurance industry is witnessing substantial rate increases across various policy types, challenging individuals, and businesses to find a balance between comprehensive coverage and budget constraints.

Inflation Impact: Inflation affects both insurance premium costs and coverage adequacy. The cost of medical expenses, car repairs, and construction costs has impacted insurers profitability. Everyone is concerned about maintaining sufficient protection as claim costs and operational expenses rise.

Regulatory Changes: Adapting to regulatory changes in different jurisdictions is crucial. Businesses seek insurance that protects against potential legal and regulatory liabilities. Families need to be educated on how building codes may impact rebuilding after a loss.

Insurers Limiting Coverage: Insurers are becoming more selective, often limiting coverage in many areas. This trend prompts everyone to reevaluate their risk management strategies and seek alternative insurance and even none insurance solutions.

Employee Health and Safety: The focus on employee health, including mental well-being, remains a priority. Companies are looking for insurance options that provide extensive coverage for employee health issues.

Actions for 2024

As we prepare for 2024, it’s crucial to take proactive steps in managing personal and business insurance needs:

Reviewing Coverage: Regularly review your insurance policies to ensure they align with your current risk profile and needs. Adjustments may be necessary to address new risks or changes in your business operations.

Assessing Limits: Evaluate the limits of your current insurance coverage. With the impact of inflation and changing risk landscapes, it might be necessary to increase these limits to ensure adequate protection.

Working with Your Insurance Agent: Collaborate closely with your insurance agent or broker. Their expertise can provide valuable insights into market trends, new insurance products, and strategies to optimize your coverage in light of emerging risks and industry changes.

Exploring Alternative Solutions: In response to insurers limiting coverage, consider exploring alternative risk transfer solutions, increasing deductibles, and even reviewing coverage to determine if you need especially coverage.

Emphasizing Risk Management: Enhance your internal risk management practices. Effective risk management can not only reduce your insurance costs but also improve your organization’s overall resilience.

Staying Informed: Keep abreast of industry trends, regulatory changes, and economic factors that could impact your insurance needs. Staying informed enables you to anticipate changes and adapt your insurance strategy accordingly.

Navigating the insurance landscape in 2024 and beyond requires a multifaceted approach for us all. By proactively reviewing coverage, assessing limits, working closely with insurance professionals, and staying informed, individuals and businesses can effectively manage their insurance needs in the face of evolving challenges and opportunities. Preparing for 2024 involves not just adapting to current trends but also anticipating future developments in the insurance sector.

Can You Improve Your Customer Service?

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As we move to the end of 2023, it would be good to identify ways agents and other businesses might improve their customer service. No matter how good they are at treating their clients like kings, any company may use these pointers to keep getting better:

Allow your team some leeway: Customers detest being kept on wait or instructed to “check with my supervisor” when they are seeking a resolution to a possible complaint or issue. Give your delegates a toolkit of instant use so they can handle situations without having to escalate to a higher level.

Personalize, customizing any response to your consumers is one of the easiest (and least expensive) methods to truly make them feel valued. This could be as easy as changing your email platform or e-blasts to include the customer’s name (if that information is available). It could also entail including a component in your phone bank training that encourages customer service representatives to ask for and repeat the customer’s name throughout the conversation, as well as to thank them by name at the end.

Make the most of technology: Automation services and business technology are always evolving and getting better. But one area where companies might be falling short is in the integration of technology. How many times have you tried to fix a problem while on hold only to be informed, “I can’t see other parts of your account,” or “I don’t have access to that information”? Look at ways to combine team member access to all technological platforms and data to expedite response times and improve customer service efficiency. This will help you prevent needless delays.

Acknowledge excellent service: While improving external, customer-facing service is crucial, it’s also necessary to practice internal customer service and give credit to team members that go above and beyond. Use this opportunity to establish an internal recognition program for staff members who have been recognized for providing exceptional external service, if you don’t already have one in place. Simple actions like a public thank you, internal email, or intranet posting can make a big difference. Specific recognitions like extra paid time off, gift cards, or other company benefits can also be very beneficial. For those who dedicate their days to serving external audiences, an internal “thank you” from the boss is greatly appreciated!

Always ask for feedback: Always ask your customers “How are we doing?” even if you don’t always like their responses. – An email customer service survey or a straightforward feedback form at the conclusion of an online chat might offer insightful information about what is and isn’t functioning properly in your system. Customer feedback also conveys to your clients your sincere concern for their experience and gives them a sense of involvement in the process.

Find additional channels by which your clients can contact you: For many years, the most popular methods of reaching out to and communicating with customers were call centers and email addresses. Technology is always changing, as is the way people use it to communicate. Speak with your customer care representatives to find out if customers are asking for other methods of resolving problems; furthermore, take a peek at what your rivals are doing. Is it possible to add a new channel to your website, such a chat feature? What about a WhatsApp or messaging feature? Passive outreach tactics such as these could prove to be more effective than phone calls, particularly when working with clients that are spread across different geographies and time zones.

 

What Is Your Insurance Agent Doing For You?

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Engaging in any business requires the support of professionals who can guide you through the complexities and challenges of your industry. One such professional is an agent. They play a critical role in ensuring your success. However, not all agents are created equal. It’s important to know what your agent should be doing for you to ensure that they are providing the best service possible.

Educating You

Knowledge is power, especially in business. Your agent should be a source of knowledge and education for you. They should be able to explain the different aspects of your business, the market, and the industry as a whole. It’s their responsibility to ensure that you are well informed and understand the details of your business. This not only helps you make informed decisions but also increases your confidence in your business operations.

Connecting with You

Communication is key in any relationship, and the one between you and your agent is no different. Your agent should be proactive in reaching out to you, keeping you updated, and being responsive to your inquiries. They should be available to answer any questions, concerns, or ideas you may have. The more connected you are with your agent, the better they can serve your needs.

Reviewing Your Risk

Every business comes with its own set of risks, and it’s your agent’s job to help you understand and manage them. They should be able to review your business operations and identify potential risks that could affect your business. They should also offer solutions or strategies to mitigate these risks. By doing so, they can help protect your business and ensure its longevity.

Looking for the Right Combination of Coverage and Price

One of the critical roles of an agent is to help you find the right insurance coverage for your business at the best price. They should be able to navigate the complex insurance market and find a policy that fits your needs and budget. It’s their duty to ensure that your business is adequately protected without overpaying for coverage.

Responding to Questions

Your agent should always be ready and willing to answer your questions. No question is too small or too big for them to handle. Whether you’re asking about policy details, claims, or changes in the market, your agent should provide clear, accurate, and timely answers. This not only helps you understand your business better but also builds trust between you and your agent.

Providing Great Customer Service

Last but not least, your agent should provide exceptional customer service. They should be friendly, approachable, and professional. They should also be proactive in addressing your needs and resolving any issues that may arise. Great customer service not only makes your business interactions more pleasant but also fosters a strong, long-lasting relationship between you and your agent.

An agent plays a crucial role in the success of your business. They should be educating you, connecting with you, reviewing your risk, looking for the right combination of coverage and price, responding to questions, and providing excellent customer service. They should be a partner in your success and not just a service provider. So, make sure to choose your agent carefully and hold them to these standards.

Insurance Will Always Be A People Business

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Insurance is a vital aspect of our lives that often gets overlooked. In the modern, fast-paced world where uncertainty is the only certainty, having a safety net to fall back upon is crucial. Insurance is that very safety net, providing financial protection against unexpected risks and losses. However, the insurance sector is not immune to changes and has been evolving rapidly over the years. This evolution, though, doesn’t change one fundamental truth about insurance – that it is, at its core, a people business.

Insurance: A People Business

Despite the significantly advanced technology and digital platforms transforming the way we purchase and manage insurance, the essence of insurance remains the same. It is, and will always be, a people business. The insurance industry thrives on a strong interpersonal relationship between the insurance agents and their clients. These agents are not just salespeople trying to sell a product; they are advisors, counselors, and friends who understand your unique needs and suggest the best possible coverage for you.

The Human Touch in Insurance

Insurance agents play a crucial role in the insurance process. They get to know you, your family, your business, and your lifestyle. They listen to your worries about what might happen in the future, understand your financial situation, and take into account your risk tolerance level. This deep understanding allows them to recommend the most appropriate insurance coverage that protects your interests in the best way possible. It’s this human touch that makes insurance more than just a financial transaction.

Adapting to Change

In the face of continuous evolution in the insurance domain, it is essential to adapt while preserving the human element. With the advent of InsurTech, artificial intelligence, and machine learning, the insurance landscape is changing. However, these technologies are tools that aid the insurance agents to provide better service, not replace them. The future of insurance may hold many transformations, but the essence of it being a people’s business will remain constant.

Insurance is more than just a product or a service. It’s a promise of protection that hinges on the strong relationship between the insurance agents and their clients. As the insurance sector continues to evolve, it’s important to remember that no matter how the methodologies may change, the people-oriented nature of insurance won’t. After all, it’s all about understanding people’s needs and providing them with the right coverage.