Tag Archives: ideas

02.14.19
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On Insurance Rates

what now

After seeing an insured go to the national carrier they are with and lower themselves from our minimum to the state minimum. 


Completely understand this younger person who needs to drive to work, pay other bills, etc.  On the other hand, 8 of our 10 options would not offer a rate so he is left with 2 of our choices and maybe 2-5 others elsewhere.  Now, we have a woefully underinsured driver on the road because this is what he can afford. So, his carrier is doing what they can to take on some of the riskier populations.  But riskier is relative to the criteria they are basing rates on.  Charging for driving infractions versus for paid claims.  But, those other 8 companies of ours, not to mention a few dozen more will then shoulder the cost of the property damage from any claims he is involved in, not to mention the potential for large medical bills.  As I learned this fall, it is very likely, in the event of a claim that exceeds the property damage, the carrier that pays it can then sue, garnish wages, etc.  None of these are positive.  None of these are healthy for the finances of the overall population.  None of these are good activities for expense ratios. But, if a contract is not enforced, if consequences for bad choices are ignored, where are we left?
We’re left where we are now.  With companies who may or may not know who they want to insure.  Then, they apply data to that uncertainty and it seems to be when in doubt, apply a higher rate.  But it gets better, see when they cannot afford that higher rate and then cancel that policy, the new company can choose to negatively impact the rate for this person. This now locks them into a typically higher rate for another six or so months, maybe longer.  Not good for anyone.
Now, in theory, they could have provided him with coverage and collected premium, maybe secured with a telematics device?  What if we took a longer play and said, you know, this person fits all our criteria and seems to have had a rough stretch 2 years ago.  But, no claims were paid out and there were no accidents reported.  Looks like he/she is in college and engaged now(we know because we are using data confidently and to the benefit of the customer, not the carrier) maybe this is a person we should work with?  

No solutions, just concepts that can be used better.

10.17.18
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Time for an annual review

Cleaning out some drafts I apparently never published, the paragraphs below(italics) were from February 2015.  Updates and comments in regular type.

Reviewing your insurance could be the most critical piece of personal finance.  Until the process can be automated it is on you and me to do it.  In this case, since it is just my insurance it is all on me.  I first wrote about this over five years ago.  If you searched the word “review”‘ on this site you would get several different takes.  Mostly coming from a variety of things that happened.  Here is a fresher look since my policies just renewed.  Yes, it actually happened just shy of three weeks ago and yes the paperwork has been on my desk since late December.

Why?  Well, the first thing you and I do is look at rates.  The home rate was about even and the auto rate went down.  Immediately I lost all urgency.  I also know that between my wife and I there are a handful of tickets and accidents that, like it or not, are still currently relevant to the rate.  You have to look at your rates.  PERIOD.  No, this does not mean to only shop on price, it just means you have to look at your price.  This is normal human behavior. And, like it or not, you have been conditioned by the industry to this.  BUT,  behind the scenes underwriting is tougher now than at any point during my 15+ years doing this.  We have begun to advise not canceling a lot of new property policies until we know any unplanned inspections have been completed.  Oh, and remember,  auto and home insurance + the U.S. consumer = commodities colliding.

Moving along to some detail;

AUTO:

  • cover the basics; name, address, drivers, etc. So disappointing that so much of this can be automated and pre-filled yet common apps fill it in an insurance quoting sites do not. This is basic stuff and the compounding time is huge.
  • Check the discounts, everything there that you thought would be? Tricky, tricky thing.  Discounts are not what they once were.  You are being “rated” more ways than you or I can count. Remember, asking is often the surest way to getting but, sadly, even if you get it, you may be disappointed.
  • Has your use of the vehicle(s) changed?  Fewer miles typically means lower rates. Telematics will replace this….but not until companies understand how to apply telematics.  Either way, mileage questions border on irrelevant.
  • Remember, a multi-policy discount can be substantial.  likely need to move both plans if shopping.  This may be the biggest flaw in the entire price shopping landscape.  Not quite fraud but certainly some ethical implications.  Multi-policy discounts are potential ENORMOUS. Not disclosing this to a homeowner who is doing an auto quote is a mistake.

HOME;

  • An escrow account is wonderfully convenient and very dangerous to your wallet.  Leaving just about any piece of your financial world unchecked is a bad idea
  • The compound effect is real and can have a profound impact on home insurance.  Sure, your coverage went up by a small percent this year but when it is 3-5 years later those percentage increases are magnified.  Pro-tip, many homeowners get a discount for something called “inflation guard” or similar.  Essentially, if you let us increase your coverage automatically we’ll “thank you” with a discount.  This often goes unnoticed but is important.
  • Where is your company flexible?  Some are with other structures.  Some with personal property.  Most aren’t with the main dwelling coverage.  Untapped but large opportunity for improvement here.  Not a full-on customization of a policy but certainly room here.
  • Fact is you are getting all sorts of coverage that look good on paper but really do not do much.  it is what it is.  Often said to older customers when comparing policies “Remember, there was likely nothing wrong with your home insurance from 20 years ago.  All these extras look nice but aren’t much….”  Google the insurance silos and this is another example of them not talking.  Lemonade did some funny writing on this as well.  This piece of coverage is overdue for an (r)evolution.

 

Your own diligence is huge.  Always has been likely always will be

Finding clever tools to help evaluate the replacement cost of your dwelling and your personal property is huge. This is a whole other topic and is a mess right now.  Lots of room here as well.  Don’t believe me?  Go look in your area at the price to BUY a brand new home.  Then realize that every property insurance company has a different version/idea of what that will cost to rebuild.  Many, or most of, will be laughed at by the builder.

 

 

09.28.18
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Adding value to car claims

Well, I have some relevant experience lately and this post from 2010, updated in 2015, is the same advice I followed and still give out.  But, along the way there where several missed opportunities to add value to an insurance brand.

  • So your car is on its way to the shop or in the shop and you need a rental. Now, my experience with Hertz and Enterprise was as expected; average.  Nothing bad nothing worth noting.  What would I like to see different?
    • There are ALOT of people who cannot or it would hinder them to have to give the $50-$100  hold on their credit card for the rental.  This can be an easy fix
    • I suppose a reasonable amount of empathy from both places.  But, I wonder if they actually understand the insurance claims process enough to empathize?
  • Lots of talk about BMW, Tesla, Volvo, etc. making programs where the car comes with insurance.  There are several affinity programs that exist as well.  But, when I stepped into, as the kids and I called it, The Clown Car.  Really was a Nissan Versa, not a bad ride just “what was available” I was underwhelmed.  Then, accident two happened and I was in a Subaru Impreza sedan.  Ironic but very nice.  That is when it hit if you have a car brand, why are you not working closely with insurance companies as well as rental car companies.  You have a captive audience that can be narrowed down to people who MUST BUY A NEW CAR.  What a missed opportunity.  Sure, there are some people loyal to brands but I bet there are thousands, if not hundreds of thousands who would “try” something either intentionally or because it was an equal option. This could also end up being a place for companies to save money on claims?
    • Look at all the car advertising you see on the internet, in your mail, etc.  Wondering; what is the cost to get someone to buy a car?  What is the average cost of rental cars during a claim?  Well, the coverage typically available is between $900-$1500.  How does that fit with customer acquisition cost?
  • Although I like telematics, adoption will be a challenge in the largest part of the market, the middle.  Why?  Retrofitting older cars?  Well, there is an app for that.  It is more trust that does it.  So I had a new fancy Subaru with all sorts of features my old Scion didn’t have.  This was interesting.  Is this another way to get people used to having things in the car that bring value?
  • I’m not a fan of more advertising, but I am still left wondering why Hertz/Enterprise, again they have a captive audience, didn’t attempt to make me like them?  Both had a nice experience at the counter and I did need to call both and both were ok.  But, again, here is a chance to differentiate.  We travel a few times a year and may need to rent a car.  Who should we choose?  My wife has a corporate program she is a part of, maybe now is the time to really “wow” a family?
    • ” Oh, you are part of the Gold Program, we won’t be putting a hold on your card….”
    • “Oh, I see you have $30 a day, but wait you are part of our Gold program so here is an upgrade……”
  • Maybe you can even go a step further and tell your car renter that, if they need gas during the rental and go to Sunoco(just an example) please scan the card on the keychain for $.10 off a gallon….

Here is to hoping I avoid any more field research with rental cars and claims 🙂

09.20.18
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What you can do that they can’t

Apparently, I forgot to hit publish in September 2013

 

Enough already, so sad that industry publications continue to write articles about direct writers (state farm, allstate, geico, liberty mutual, etc.) and how the independent agents are competing against them.  Are you really?  Maybe it is time for a solid look in the mirror.  While you are at it maybe you look at your business plan as well.

Some things to consider;

1. Do you really want their customers?  I like leftovers but my wife is a great chef.  Her leftovers are the only one’s I eat, I’m not interested in anyone else’s.  The lesson, focus on what you want instead of what they do not want.

2. Let’s face it, most companies want the same preferred business; great credit, own a home, have a college degree, married.  Do you?  Funny thing, in my experience, I do not see this very often among the Geico policies I replace.  How about you?

3.  Do any of your carriers not have a top notch call center?  Don’t you have to have one if you want to be in business today?   Thing is just because you advertise it doesn’t mean it is any better than a company that does not advertise it.

4. If you have an agency management system you have all sorts of ways to automate your follow up with current customers and prospects.  Thing is you can time it up so you regularly reach them with VALUABLE information.  Please let me know the last time a valuable piece of direct mail came from a direct writer….Yup, me neither.  I think you might see a narwahl first 🙂

5. When was the last time you went shopping and the only thing on your mind was price?  Go look in your kitchen, let me know how many store brands there are versus big companies.  But that is not the real comparison see most of those store brands are made by the big companies.  Now look again, do you have any of the real cheap cans of vegetables?  Boxed goods?  Odds are the customers you want don’t have them either.  So why are you still worried about the price?

6. LOYALTY is most often reserved for PEOPLE, not brands or companies.  How many people know their call center rep?

7. Based on my results and likely yours, you can get competitive rates for 8 out of 10 people you talk to.  Let’s be conservative and drop that to 7 out of 10.  7 out of 10.  There is no mathematical way that if you only have one company you can duplicate that result.  So why spend the time on the 2-3 people that you cannot get a competitive rate for?    *See number 1 ” do you know who you want”

8. Back to loyalty for a moment.  You’ve built a business but have you built relationships?  We are in a long term business, the profit from any household/customer/client/business rarely comes in the first year.  How are you keeping them around?  This is differentiating yourself from those companies you are supposedly in competition against.  Heck it is also solidifying your position among any of the other local insurance options.

Bottom line, BUILD YOUR BUSINESS.  It will build faster if you focus on what  you can control.

03.09.16
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The most powerful paragraph in insurance

AKA  My and the Insurance/Banking industry’s simultaneous biggest problem and opportunity

AKA What #insurtech should be trying to solve but outside of me and maybe some people I have not found yet, is not.

Really it is two paragraphs.  One that comes from a standard document that you’ll find in your policy forms. Yes, I know you likely do not read them.  Also, the version in your state may be different.  The other is a direct quote via an email.  I see or hear variations of the second one every week.  So here goes;

In connection with this insurance, we previously used a credit report or obtained or used a credit based insurance score based on information contained in that report.  We may obtain or use credit information again provided, however, that upon renewal such information may only be used to reduce premiums.  An insurance score uses information from your credit report to help predict how often you are likely to file claims and how expensive those claims will be.  Typical items from a credit report that could affect a score include, but are not limited to, the following; payment history, number of revolving accounts number of new accounts, the presence of collection accounts,bankruptcies, and foreclosures.  The information used ot develop the insurance sore comes from Transunion.  If you have any questions about the use of credit information in insurance underwriting, you can contact us at 1-800-***-**** or write us at p.o. box______________ or via fax at 877-***-****,  When you write us, please include your name and policy number.

Here are a series of questions I am pondering;

So when negotiating for this right, did companies really just build in a “backdoor” to cover them if it didn’t work?  Think about it; if this was so accurate why do they reserve the right to raise your rates after claims?
Is this really a “customer centric”approach?
Why don’t they actively use this awesome tool to retain you as a customer?
Depending on what blog or newsletters you read, depending on who you follow, depending on who you work with/for you’ll catch almost the  “excuse of the week” when it comes to fixing the personal insurance marketplace.  The saturation point of unexecuted thoughts and ideas has been reached a long time ago.  I prefer things much simpler; acquire customers, take care of them, keep them.  By keep them I mean BY ALMOST ANY MEANS NECESSARY.  I like to think I follow a good cross section of people/companies.  Yet they all see to alternate what the excuse is for not being able to help the customer.  So many are focused on new business and will spend whatever time and money necessary to get it but most overlook what they have already.  Silly and sad…..but creates an awesome opportunity.
2.  “Billy,
Why would the rate go up 50$ shouldn’t it decrease over time? No tickets, no accidents… Is there anyway to lower the rate? It just doesn’t sound kosher that the rate they want now would be more then the initial payment with XYZ, then the second payment decreased to around 680$ which I’m fine with… “
Quick Back story for you insurance people; came to me as uninsured, single, male.  I was thrilled with the rate he obtained. Then, for the next six months his rate went down, then after that period his rate went up.  In the meantime, as I do, I checked my markets to see if anything better was available.  His rate, although inexplicable raised, was still the best I could offer.  
 
His logic is completely sound.  This is, sadly, the once accepted but should no longer be acceptable, norm.  This method of doing business is exactly what is allowing newer companies to come in and try and “disrupt” and old system.  Crap like this is why your agent might be pounding you with a useless newsletter or article.  This kind of behavior is not considered acceptable in any of your other buying experiences, why do we as a society allow it to continue?  
 
The short answer is I don’t…but more often than not am outnumbered.  The odds are long, but the payoff is massive.  Based on my(my company’s) growth rate, people like the way I do business.  But currently we come up short with technology and people power and to not bore you with analogies, it’s just tough.
 
Take from this what you want.  I gain more answers and fine tune things almost daily.  Almost daily I am also inundated with silly reports and nonsense being pushed by marketers and companies onto my fellow agents.  Such is life…currently.  I/We keep moving forward.  Actually close to a pretty massive move/shift that will greatly accelerate things.
 

An aside that is sort of related; A long ways back it was a Monday afternoon and a coach was giving us JV’ers a pep talk.  During this we watched the other team line up and he pointed out a couple of very large people.  He was very quick to point out, if they are so big and bad why are they playing on JV?  Yup, simple, profound and very logical.

I think  of this after just about every article, white paper or study I read.  If the people writing or being quoted know so much about how insurance is bought and sold, maybe they should start their own insurance brokerage or go to work for a broker or company?  The reality is things might accelerate if they did.

ONE HUNDRED MILLION or more people will benefit from these changes, would you like to help me?

12.28.15
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Maybe the insurance industry is just a reflection of society

Reality is this; insurance companies are run by other members of our human species.  They are also influenced by their surroundings both human and inanimate.  They are influenced by many of the same ideals, both positive and negative as the rest of us.  There is a lot of talk about “disruption,” #insurtech, #fintech, and #bigdata.  The industry is “ripe” for change, blah, blah, blah.

Yes I have many of my own thoughts, heck it’s my blog so of course they are my thoughts.  This dawned on me the other day;

Maybe the insurance industry is just a reflection of society.  But how?  In what way(s)?

So it came to me right in the midst of the holiday season.  Many of us buy new gifts for loved ones.  Many households, especially those of us with children, are likely experiencing an overload of toys.  Some of us now have items we don’t need, didn’t ask for and likely don’t want. BUT, I am hopeful we appreciate the effort.

I’m hopeful that many of us still appreciate what we have and don’t simply throw away what we have to replace it with the new and shiny.  

Than again, we will still have building after building of storage units for all the “stuff” we cannot bring ourselves to throw away or sell.  *Not sure where this fits in, are we all, on some level ,hoarders?  Are we so appreciative of “things” that we cannot throw them away?

But how does this fit the industry?

The average retention rate of a company and even brokerages/agencies is not talked about often enough.  When it is talked about, it seems like a “white flag” has already been waived and that they simply accept the fact that they will let customers go

**This is important, whether you are a company, agent or broker you let people leave more than they actually leave you****

WHY?

No idea really, the math and every basic human as well as business idea/philosophy tends to go against this.  But this is where I am beginning to think that the cause is much deeper than business and math.  Maybe it is deeply rooted in the subconscious.  Maybe it is tied deeply with your personal characteristics and how you are influenced by society.

Let’s face it, most of us ignore the ideas of repurpose, recycling, repairing etc.  Many of these people also simply buy new since it is convenient.  Maybe it is a lack of appreciation for what they have already(think profitable, blindly loyal customers).  But when it comes to insurance this attitude is very, very expensive.  Think SIX BILLION + in advertising expenses instead of less than a billion(my guesstimate) in retention expenses.

How do you/we break the cycle?  At what point will a company “stop the madness” so to speak and start appreciating what they have?  The practical examples are readily available; the older couch goes from the main living room to the play room.  The used car goes from you to the teenager.  We re-use some paint from one room in another.  Leftovers should still taste good the next day or beyond.

Back to the customer; you are hired this year and if you are lean enough you turn a profit this year.  If it takes longer than that, all the more incentive to keep them longer.  But how do we keep them?  If you have a system that automates most task, this could be fairly easy but;

It starts with your underlying principals and philosophy

If you appreciate what you have and show it appreciation it will appreciate you back(stay longer!)

If you own a car and want it to last you’ll change the oil.  It doesn’t mean the car has any less value.  If anything, changing the oil(investing a little into an asset) makes the asset worth more since you can keep it longer and hopefully avoid costly repairs.  Pardon comparing a human to a car but the analogy fits.  Keeping a customer longer does not ensure that they’ll be profitable but you’ll have no chance at profitability if you let them leave.

The big wave is already happening in insurance.  But maybe, actually definitely, those that can profit most from it will likely need to be accepting of a bit of an attitude adjustment.  I’ve written on it before, let’s look at companies like Terracycle.  Let’s look at Zappos.  Heck look at any of your local businesses who you are loyal to.  Now look at your insurance company/broker.  Same feelings?

As much as new technology is needed, technology will not solve the underlying societal problems that have infiltrated insurance thinking.

10.07.15
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Timing is important

Sat in on a webinar a week or so ago.  The title of it intrigued me since I could not figure out why it was setting such a low expectation for a certain metric.  Then I gave them an hour of my life and they basically explained why.

Some people don’t think big enough  

Kind of reinforced me to not pay much attention to consultants who are paid for time not necessarily results.  Anyhow, Lots of goofy ideas where talked about but two stood out;

  1. The times you should be cross selling a current customer/client
  2. The times to ask for referrals

Both are very valid things to talk about.  There are likely dozens of ideas and concepts that have been written about and that those writers will say work.  Cool.  A couple of questions to consider;

  1. When I make the time to call you, I am likely calling to handle something specific.  I may be stressed, busy, on my lunch break, etc  Why would you think I am giving you permission to take more of my time?
  2. What correlation is there between changing a car on an auto insurance policy or refinancing my home with asking me for more money?

Now, I absolutely agree with just about every study surrounding account rounding and the more lines of business in a household.  On the other hand, I am confident to know that whatever I have already done for you should have been done in such a way that you see the value in me.  That value and hopefully personal connection we have made is a very powerful thing and can undo most stats.  Consider this as an alternative; what if you politely kept in touch over the course of a year without trying to sell me anything?  Think about it, you politely keep in touch with this nice person who is already a customer.  By doing this you can hopefully bring additional value and maybe a smile therefore keeping the door open for me to buy something else.  Any way you look at it, me buying something from you is way better than you selling something to me.  Besides, you should have enough people to work with that you do not need to depend on forcing/selling anything to anybody.

On that note, I think asking me to introduce you to friends and family is almost as bad.  Why?

Quit being lazy!!!  Bring value and participate in Social Media!!!

That’s right, I think you asking for referrals, many times, is simply lazy.  I also lump it right in with interruption/spam marketing if you are asking me for referrals when I am calling for some other reason.  Some thoughts;

  • Just like me buying from you, isn’t it better when I proactively share you with friends?  How can you make this easy for me?
  • Is paying for referrals really a good idea
  • If I am only referring you someone so I can enter a contest, is it really a referral?
  • Are you even referable?  Think about it.
  • Really, if we were missing in person do you still think putting a notepad and pen in front of me is a good idea?  **Please say no***

It’s only fair to present some alternatives;

  • Where are we connected on-line?  Hopefully where I am comfortable.  P.S.  do you really think I am sharing canned insurance articles
  • I am not at all opposed to saying thanks with a gift or money.  I hope you are not either.  But should I be offering you money in exchange for your friends contact info?  Do you like it when your email is sold to random vendors?  Do you like it when you are added to a newsletter list without opting in?
  • Seriously, ” you can enter our contest for a t.v. if you refer us to a friend….”  Come on.  Keep selling on price as well and let me know how that works out.   leads us to the next one
  • Be referable.  Seriously, I’ve been thanked several times for referring one person to another and a part of my response is always, ” no problem, thanks for being easy to refer…”
  • Still  one of my favorite “techniques” and still one I have nor will never use.  Try the digital version of this and become a connection on Linkedin.  All of their connections will see it.  How about you like/share something of theirs on Facebook and see what happens.  Even better, how about you proactively refer them in some way or bring other value

Anyway, just some thoughts.  Thanks for letting me share.  Do whatever you think works for you but remember, the world has adjusted and much of what used to “work” doesn’t.

08.02.15
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Rethinking claims and the causes

***Working thought, from an idea via a longtime friend***

So the scenario is quite common, friend calls and says they want to have some tree work done on their property.  Pretty common.  You can also insert, new roof, new furnace, upgrade to electric panel, drainage dug, fire alarm installed, etc.  Think of it as any proactive, likely preventive measure that can reduce the likelihood and at worse the severity of a claim.

“Bill, is there an extra discount for cutting down the trees?  Will they(the insurance company) pay for it?  ”    No and No.

Why not?  Well, in theory, this is your responsibility.  Maintain your home.  Home insurance is not a maintenance policy.  Nor should it become one.  On the other hand, if we are engaged in this great mutual enterprise of protection, of a partnership with a set of people, why aren’t we working together.

What to we do first?  I think we come up with a pretty comprehensive list of items that can be done that can reduce or sometimes eliminate the likelihood of common claims;

  • Annual home inspection by a certified home inspector
  • Gutter maintenance
  • Improving or adding better drainage
  • Keeping trees/tree limbs off a certain perimeter of the home
  • Insect/animal inspections and preventive measures
  • Alarm systems; fire, smoke, co2, central alarms, mobile monitoring
  • Nest type thermostat with temperature sensors
  • Documented annual cleaning/inspection of wood stoves and fire places
  • etc.

Then set up a pretty basic incentive structure.  Say a $20 annual credit to be applied to your premium for completing 1-3 of these.  $30 for 4-6, etc.  Or maybe a deductible credit.  Right now it is popular to diminish/waive a deductible after a period of years.  This is nice but does it really make sense?  Is it something the customer can see/feel/touch/SHARE right now?  NO it is not.   Maybe doing something big like tree removal/pruning or a new furnace or a new roof gets you a $20 a year credit for say 5 years?  *Yes, some are already doing a roof discount**   Lets expand this.

Let’s get better relationships in place with say Angie’s List, Home Advisor or other similar site.  In theory, they are already filtering the good contractors from the bad, why replicate their effort?  No need.

If used properly this can be a massive retention tool as well as loss ratio reducer at the broker/agent level.   This will also help the carrier.  Not to mention, this is something actually worth talking about.  It is a positive incentive that can put more money back into the local economy while creating a marketing activity worth talking about.  Seriously, enough of this overplayed and diluted discount non-sense.

Thanks for considering.  Open to your thoughts.

12.07.13
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“He knows everybody” and more useless wrong uses of phrases

I get it I know they are expressions but please use some caution.  How about ” he/she knows a lot of people”?  Makes more sense than saying everybody from a grammatical standpoint it is also more more logical.

How about the word “know”  do you really know someone?  My guess is you maybe getting to know someone or have a good sense of who the person is.  When you know someone my guess is you need to think to yourself; Do I know them to the point that I will point my name next to theirs and refer them?  Not that you need to stand by their work, things happen.  But what I mean is if you really “know” someone you should be willing to share them with others and be willing to risk a piece of your reputation when referring them.

“But I heard from someone…”  Really, who?  Who is this somebody that you are not willing to share the name of?

Love– seriously, I appreciate you wanting to step up from like but only use this if you mean it.  Maybe there are different levels of love?  Maybe we should reserve love for things that are alive, specifically humans and pets?

CAN’T is worse than F$&* or S*$# or any other curse word you can think of.  How about how we use it so often.  So can it really not happen or do you just not know how to make it happen.  Can it really not happen or are you just unwilling to do what it takes to make it happen.  Things usually can’t happen right up until one person ignores everyone and does it.

“I’ve got a great idea…”   Great there are books full of them how about you make something happen instead.

Just some thoughts.

 

 

 

12.03.13
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Delusions in insurance

1. We want to be the largest in america…. WHO CARES my guess is your policyholders don’t.

2. We can save you $480 or 15% or an average of … WHO CARES reality is saving that amount of money just means something was wrong.

3. Rates go up due to inflation…MOSTLY CRAP rates go up to keep the bottom line healthy. If people knew how much money was floating around in insurance they would go bonkers

4. Discount double check, in good hands, join the nation, like a good neighbor…SLOGANS are for the company not for you.  Sooner the companies put more resources into helping their policyholders and less into marketing the sooner you will see insurance improve.

5. I’ve been with them for twenty years they are loyal to me…SURE AND I have a unicorn in my backyard and the Easter bunny lives next door.  Prove it, show me how they showed loyalty in return.**there are likely some exceptions to this but not many.**

just some thoughts.