Convenience, a bad compliment

So apparently I was buying a lot in September of 2012 and just had to write about it  http://theinsurancebill.com/?p=202

If you are a broker, people leave.  Period.  No one is 100% for more than a year or two.  People die, people move, people get rid of cars and homes, etc.  To think you can keep your policy count and customer count growing is a better goal than keeping 100% of your customers.  Often they leave without warning.  This hurts, sometimes.  But, most of us maintain customers because the effort to switch doesn’t match either

  1. The possible savings
  2. The uncertainty that comes with new

But, taking “negative advantage” of these scenarios is not a good idea.  It is why insurance is where it is.  It’s why some of what EZLynx’s rating engine is interesting.  It is why seeing Covera test a theory that I have executed on for 6ish years really interesting.

On the other hand, I firmly believe that a review that starts with ” They saved me a lot of money….” or ” WOW, they helped me lower my price…”  including an arbitrary “our average savings is $572 per year…”  Is some of the worst advertising you’ll see.  Sure, maybe a fact is being shared, but wanting to be known for this is not a wise idea.

Consider an alternative; try being the person who offers what people consider a consistently fair price. Seriously, leading with the lowest price does some long-term damage to your business it also sends some bad signals out to the universe.  Price Consciousness is normal, sadly we are in a consumerist culture that has ruined, or at least hindered capitalism.  Sure, you are “happy” that you saved them money.  Nothing wrong with this, but what else did you do?

I wrote about being willing to “overpay” for some convenience because I am.  Actually, most people are.  If you are a broker and reading this you better know that well over 50% of your customers can lower their rates today but they stay.

Just consider looking at things from your business side as well as your personal side a bit differently.  Feel free to take a piece of our formula;

” We’ll try and improve your coverage and improve your rate.  Hopefully both”

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