 |
 |
 |
 |
||
 |
| Back
to Tom Talks list Putting trust to the test Does the insurance industry deserve the bad press it has been getting lately? There’s not only smoke. Unfortunately, there’s some fire, too. Behind it all is one issue for insurance buyers: trust. “Am I getting a fair deal from my insurance agent?” is the question. You answer the question by asking yourself: 1. How well does my insurance agent represent me to the insurance company? This is a key question. Your agent’s first responsibility is to satisfy you. That’s best accomplished by understanding your business thoroughly so the agent can serve as your advocate to the insurance company. If the agent fails at this, you are probably paying higher than necessary premiums. 2. Does my insurance agent have a sufficient number of good markets available? Just as in the clothing business, “One size does not fit all.” It’s impossible. Every insurance company has its likes and dislikes when it comes to certain types of businesses. The key is having sufficient insurance markets to best serve client needs. 3. Does my insurance agent actively help me reduce risk? On the face of it, lower premiums mean lower commissions for the agent. What agent would do that? The responsible agent will do everything possible to help clients reduce risks—and lower premiums. Why? Fewer claims are an indication to an insurance company that agents are doing their jobs. Insurance companies judge agents on the basis of their clients’ loss records. What company wants an agent with high losses? It behooves agents to help clients eliminate as many potential risks as possible. 4. Does my insurance agent “shop” my account? Insurance markets are in constant flux. Insurance company appetites for certain types of coverages change constantly. Even if your agent claims to shop your account, you may want to see the results. Let’s face it. In the final analysis, trust is the result of performance. Tom is president of Mosinee Insurance Agency, Inc. 715-693-2100; tomh@mosineeins.com Back to Tom Talks list |
For
more information, click here.
|
