Here is what I thought about though. Both companies have the money ” in the bank” to pay this claim. So what do they lose? Well they plan on this anyhow and the reality is, if done correctly, it is really just a marketing activity. This is your chance to jump over price and cement a relationship but instead both the paying and the non-paying company will likely negatively impact both the person who is at fault and who isn’t.
Dear Big National Insurance company who I want to bring more business to;
We have had a nice relationship so far and I think we both like each other. I’m confused though, some days it seems like you just don’t want my business. Now I understand you won’t want everyone but I am still left disappointed. See we know each other pretty well, I have a nice understanding of who you want insured but somewhere in there somethings not working.
It’s not you, it’s me?
So most of us have friends. They come in all shapes and sizes. You are closer with some more than others. Some you hang out with more often. Some are “on-line” friends or “work” friends but they all get the label friends. They all on some level have a place in your world.
At the same turn, each of them needs or wants something from you. Some need/want more than others. At various times one or more of them may need a lot from you. Over time some friends sort of increase in value(feelings) while others get less. But they are all still your friends.
Several times a month a new person hires me and I am shocked. See I know I am “good” and I know how to do a lot of things. But there is a recurring theme, there is really no reason why this opportunity should exist. There is no reason why this person should have called. But then again there are quite a few.
The one that set me over is something like this, husband and wife with the same agent for 20+ years. Husband and wife fit perfectly into dozens of companies; married, great credit, college degrees, home owners, clean records. He is also a business owner and the paths fairly regularly cross with the agent who should appreciate his business. Sounds familiar?
Well Glass coverage, as it is commonly called, comes with your comprehensive coverage. Pretty common here in New York and to be honest, I have no idea why you would want to have comprehensive coverage and not glass coverage. Really, it comes down to a math equation. Average new windshield cost is $200+ mine just cost my insurance company $341.22. My comprehensive coverage is about $100 a year. Not a bad gig for me nor is it a bad idea for most people. Honestly could be the best value in all of insurance, also the most used. Goes right there with your Towing and Labor coverage.
Advertising on license plate holders! About to ramble, hang on almost over.
It is already being done but think about it, who cares where you bought your car? Do you save money or get anything for allowing them a spot on your car? Why not sell this space? Are you willing to identify with someone/something strong enough to allow them on your car?
Could it be to much? Not sure, people routinely put magnetic stickers on their side panels. How much time do you spend parked behind another vehicle at a light? Is it dangerous to put your Twitter handle on there? Not sure, at the very least a web address and something catchy?
Not to far removed from election season and now with other elections and votes pending soon I cannot help but think about how amateurish campaigns can be. Reality is it is pretty sad. Everyone operates from a reactive position and goes right for the “jugular” with something like public safety. Rarely with any facts in hand. Even rarer with actually actionable steps to fix the base of the problem from the past. Instead they take the easy road, strike up some fear, attack an opponent and just like that you have some politics.
Woke up early and was immediately thinking about one of my last conversations yesterday. Let’s start with some math;
If you spend $1000 and in return I lower the cost of something by about $3000 what could you consider your return on investment(roi)? $2000 not bad. Not bad at all.
So in the first year of this new product you saved $2000 by spending $1000. Now in the second year(assuming current numbers stay the same) you actually save $3000 since you do not spend the $1000 again. So you have now made $5000 by investing $1000. 500% return.