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partners in risk

The Importance of an Annual Insurance Review

It is critical that every homeowner or business undertakes an annual insurance review. Regular reviews are equally essential to ensuring that your policy continues to be a good fit for your coverage needs and budget.

In a single year, a lot can happen that can have a significant impact on your insurance costs, coverage options, and limitations, among other things. Among these are the following:

  • Marrying or divorcing
  • Children graduating from high school/empty nest/child off to college
  • Beginning a new job
  • Recruitment of new employees
  • Purchase new commercial equipment
  • Establishing a new enterprise
  • Accepting elderly parents into your home
  • The acquisition or receipt of an ostentatious gift
  • Your immediate family member has died
  • Mortgage repayment

Is this to say that I must immediately contact my insurance agent whenever I purchase new furniture or a family member moves in for six months? Not always. While more significant changes (such as marriage, divorce, or the purchase of a new car) should be reported immediately, items such as upgrading your home entertainment system or upgrading your sound system can be reported during your annual insurance review.

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

Improve Your Customer Service Experience

 

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

When To Call Your Insurance Agent

We strongly believe in developing relationships with our customers. Insurance is not a product; it is a trusted relationship between the agent, insurer, and customer. We are always ready and willing to help you better understand your insurance and help with any questions you may have.

The Value of Your Local Independent Agent

  • Local independent insurance brokers can tailor your insurance coverage to your specific needs because they work directly with you and the insurance companies.
  • Insurance is what independent insurance agents live, think, and breathe. Because it’s their business, they’ll be able to explain any difficult policies or rate adjustments in a way you can trust. They’ve dealt with a variety of insurance providers throughout the years and are familiar with how each one operates.
  • Because your independent insurance agent is not employed by an insurance business, he or she is referred to as “independent.” They work with a variety of insurance carriers, but they are mostly focused on you!

Good Reasons To Connect With Your Agent

  • If you no longer live in your covered house, please contact us; your policy will need to be revised or amended to reflect this change.
  • If you purchase or receive new valuables such as jewelry, antiques, art, or collectibles, contact your insurance company to ensure you have adequate coverage.
  • You make the decision to work from home (home-based business). A basic business insurance policy might be necessary to protect you and your new venture.
  • You may need to make adjustments to your home insurance coverage if the people who live with you or in your home change. Your auto insurance rates may be affected by changes in your household.
  • Significant renovation or additions to your property will almost certainly necessitate a change in the amount of dwelling coverage on your home insurance policy.
  • Insurance is required for vacation homes, cabins, rental properties, hunting land, and leased property. Please contact us if you are interested in purchasing a new property or making changes to an existing one.

If you have any questions about your insurance; please call our office; we are here to help.

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

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

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

What’s Trending In Insurance For 2022?

Changing consumer expectations, employment issues, supply chain issues, political unrest, and remote working will all have an impact on the insurance landscape in the coming year. Let’s look at some of our predictions for the most interesting trends that will emerge in the insurance industry in 2022.

2022 Predictions

  • When it comes to where and how to buy insurance, consumers will have more options than ever before.
  • Cyber-attacks will increase for both individuals and businesses in 2022.
  • Remote work will continue to grow in 2022.
  • More people will start home businesses, requiring a review of personal insurance coverage.
  • Advanced Driver Assistance Systems (ADAS) and linked vehicle technologies are on the rise.
  • COVID-19’s disruption of supply networks is expected to last well into 2022. However, with the reinvention of traditional freight and cargo insurance products, the related business disruptions and frustrations may be alleviated.

Recommended Actions

  • Start the renewal process early with your agent.
  • Collect precise information on your risk with your broker. This will help you stand out in the crowd.
  • Use an agent that desires to build a relationship and provide education on your risk and how best to manage it.
  • For commercial accounts, address loss control advice and talk to your underwriters about your efforts. Underwriters appreciate proactive loss management because it displays a commitment to risk mitigation.

 

insurance

Can The Holidays Bring Added Risk?

Personal Insurance Update

Did you get an ugly tie or sweater last year for Christmas? If this Christmas is a repeat of last year, the good news is that you can probably exchange the gift for something you can actually use. However, many other ugly things can happen during the holidays that you may not be able to take back. While the holiday season is a great time to celebrate with family and friends, it can also lead to fire, theft, and losses that will dampen your holiday spirit.

Now would be a good time to have us review your personal insurance to make sure you understand your coverage, and provide optional coverage for you to consider.

Typical Holiday Mishaps

House fires – Due to increased use of electrical cords, home fires rise during November and December. Make sure you use only UL approved appliances and electrical cords. Do not over-use outlets to string inside or outside lights. If you have a natural tree, keep it watered. Invest in a fire extinguisher, and keep it in the kitchen. The median cost of fire damage due to candles and fireplace claims can be around $9,000.

Theft –Criminals love the holiday season because they know you may have expensive items in your home. Keep your doors locked. Do not place gifts next to windows. It is not necessary to post all your holiday purchases on social media. Criminals love to “like” your posts, and then steal your gifts.

Use of alcohol – Resist the pressure to drink or serve alcohol at every social event. Designate a driver before the party begins. Offer non-alcoholic beverages at your party.

We are committed to providing clients with the highest quality insurance plans available combined with some of the lowest possible rates. Whether you are shopping for auto insurance, home insurance, life or business insurance, we can help you obtain the best coverage available at the lowest rate possible.

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.

agent

When To Call Your Insurance Agent

We strongly believe in developing relationships with our customers. Insurance is not a product; it is a trusted relationship between the agent, insurer, and customer. We are always ready and willing to help you better understand your insurance and help with any questions you may have.

The Value of Your Local Independent Agent

  • Local independent insurance brokers can tailor your insurance coverage to your specific needs because they work directly with you and the insurance companies.
  • Insurance is what independent insurance agents live, think, and breathe. Because it’s their business, they’ll be able to explain any difficult policies or rate adjustments in a way you can trust. They’ve dealt with a variety of insurance providers throughout the years and are familiar with how each one operates.
  • Because your independent insurance agent is not employed by an insurance business, he or she is referred to as “independent.” They work with a variety of insurance carriers, but they are mostly focused on you!

Good Reasons To Connect With Your Agent

  • If you no longer live in your covered house, please contact us; your policy will need to be revised or amended to reflect this change.
  • If you purchase or receive new valuables such as jewelry, antiques, art, or collectibles, contact your insurance company to ensure you have adequate coverage.
  • You make the decision to work from home (home-based business). A basic business insurance policy might be necessary to protect you and your new venture.
  • You may need to make adjustments to your home insurance coverage if the people who live with you or in your home change. Your auto insurance rates may be affected by changes in your household.
  • Significant renovation or additions to your property will almost certainly necessitate a change in the amount of dwelling coverage on your home insurance policy.
  • Insurance is required for vacation homes, cabins, rental properties, hunting land, and leased property. Please contact us if you are interested in purchasing a new property or making changes to an existing one.

You have any questions about your insurance; please call our office; we are here to help.

There Is No One-Size-Fits-All Insurance Policy

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.

 

 

Insurance Customers Needs Are Changing

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?

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.