Most blogs and news sites have a theme. If you dove into the 100+ posts prior to this one you would see that most are about insurance. But, unlike most insurance companies or insurance blogs I went well beyond “take a higher deductible” “pay in full” “shop around” etc I took many other angles and tried to explain some of them for you.
So, What to Expect? Mostly insurance talk with a mix of some overall business ideas and philosophies to give the reader a sense of me and what could be coming.
That’s right, I started 11/11/02 but it took about 4 months of training before Ralph became my first customer. I’m not sure what Ralph is up to, and honestly, I have lost touch with 1000s of Ralphs. Hopefully, on some level, I can get better at keeping in touch with people either directly or indirectly.
Although I am certainly better at keeping in touch, what I am also certainly better at is helping people buy insurance. Has insurance changed over the years? Of course, the world evolves and so has insurance. But, not every broker has kept up in the same way just like not everyone prepares for the future in the same way, studies the same changes, or values the same things.
The role for me and whoever is working with me is the same; Help people buy insurance. Ideally, we help you spend less and get more or get more and spend the same or otherwise fill the holes your current plan has and make the improvements you want to make.
Although I am far from perfect, the way I do things seems to work well. Based on the policies I tend to replace, it seems like not everyone is doing things as well as they can.
So, please consider getting a second opinion on your insurance and just maybe getting it with me.
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Discovered in while in the midst of an extensive self audit. Written as a list of lines that I likely expanded on at some point but could not locate. Here goes;
Talking piints via something I labeled “Big Picture
Marketing” but didn’t date.
After seeing an insured go to the national carrier they are with and lower themselves from our minimum to the state minimum.
Marketing should supplement and promote genuine value not disguise the lack of.
Right now it seems that way, but somewhere in my reading and listening, I again heard what I already have known for a while now; You do not need to adapt to AI, and similar data ideas, but the agents/brokers/companies that do will survive and thrive and those that don’t, won’t.
So combine that with the following things stuck in my head from various reading and listening;
- Sending out a birthday card is awesome and there are services that do this
- Who is killing it on YouTube?
She does. She can’t say it but she shows it, at least I think she does. Maybe the world needs a better guide to “working with an insurance agent.” Here are a few bullet points from 2010.
This is closer to the truth than what I say to myself every day; which is that our customers appreciate us.
On one hand, it feels slightly good that stuff I was writing about 3,4,5,6, 7 years ago is still valid. On the other, it hurts because that means things haven’t improved much. Like this call for an honest explanation to rate increases
But what if you could fix one thing? What if there really was a mission or directive that came down from all the lobbying groups that double as professional associations. And that directive was, we want to see a massive increase in our market share versus that of captive companies. Well, first let us take a side turn, captive agents are dwindling and their market share will as well.
But it is in disguise. See, everything can be classified as marketing or in it’s subcategory branding. This post, even this post from November 2011 updated in 2015
I could use words to rewrite the same things today and it would be valid, and also useless. So, let us use words differently and simply make a different point based on the same thing.
- Your rate increases allow us to build our brand stronger while weakening yours
- Your rate increases prove that you have no faith in your actuaries and your distribution methods. Could even say a lack of faith in your capital investment strategy
November 2010, updated May 2015, still is an annoyance that happens once a week.
And it really is a dilemma. I’ve likely written before that I have 20ish options for insuring a home and all 20 have a different idea of what the same home will cost to rebuild. Scarier than this, is that several use the same backend system that determines the replacement cost. But, there is nothing particularly “sexy” about this topic so maybe that is why it doesn’t get much attention.
Original publish date of October 15 2015
” Why would you give an insurance company more data when they haven’t figured out what to do with what they have?”
I’m giving myself credit, I still believe in one what I was writing three years ago, now I just know more. But, although our methods are better and new tools exist we just haven’t found the blend yet.
To frame this moment, I just caught up on Lemonade’s transparency chronicle and read a good piece via the Washington Post about home construction that survived Hurrican Michael.