This post is adapted from a write up found in Insurance Journal (authored by Christopher J. Boggs); we have it rewritten from the Malaysian perspectives….
The truth is, coverage matters and insurance is not a commodity….
Insurance is about saving your client from ruin!
Professional agents should be more concerned about the client’s exposures than even the client is because of the significant consequences of improper or missing coverages. Insurance is about saving your client from ruin!
You should take note of the following when handling your client’s insurance requirements:
(1) Want and have the internal drive to learn everything you can about coverages, statutes, and coverage options;
(2) Learn everything you can about your client’s industry to assure you are providing the correct coverages;
(3) See yourself as a key advisor for and to your client. One should not be shy and apologetics about providing the advice;
(4) Are no longer afraid to cold call or even “warm chatter” because you are more afraid the other agent didn’t do “it” right (leaving the client exposed to personal financial tragedy);
(5) Take time to develop a detailed underwriting packet submission so your underwriters understand the risk and what you are doing for your client. Agents in Malaysia almost always fall shy when requesting for additional documentation and vital underwriting info;
(6) Focus discussions on exposure, making price secondary (you stop leading with price); and
(7) Are always unsatisfied with your level of knowledge (and even a little afraid) because you know there is so much more to learn.
What do you think? Are you a professional agent? Or if you are the client, is your agent doing enough for you?