Tague Alliance - Insurance Study On Serving Future Customers

The member insurance agencies of Tague Alliance and SIAA can learn a few interesting things from watching this video. Does "trust" rank as the most important factor that comes to your mind when considering what our client really wants from an insurance company? My guess is that you would say great products and/or a low price. Based on the study conducted in 11 countries with 4400 insurance consumers price is a factor but not the most important factor. You will also see in the video that about half of the consumers who are classified as being "people" centered prefer to work with an insurance expert, i.e. an agent.

So while "trust" is hugely important for the insurance carriers to foster with insurance clients, it is equally important for independent insurance agents to foster and focus on trust building with their clients. One key element in building trust with clients is being able to place their business with top rated insurance companies who have a stellar claims handling reputation and claims processing. A claim is when the trust factor is put to the biggest test.

Tague Alliance members need to realize that they must engage the client multiple times throughout the year in a number of different ways. Trust is built in multiple ways, but one key foundation of trust is the "relationship" that the agent has with their clients. This does not mean that you have to be best friends with every client, but it does mean that you need to be accessible when the client needs you, respond with relevant and efficient service, and be consistent in the handling of the client needs.

In addition, trust can be facilitated through "transparency" and "openness". A simple way to be more transparent is through the use of Facebook which can be used to create more personalization of your agency to your clients. This is a simple concept and one that takes time to create and manage. However, this personal extension of your agency helps to to foster relationship which in turn breeds more trust. Side note - if your agency is not careful about what is posted, said, and shown on a site like Facebook you can destroy all your good intentions very quickly. So the agency must be aware of posting only relevant consumer focused information that works toward building more client relationship.

The video below is meant for insurance companies, but has some good insights for Tague Alliance members and independent insurance agents in general.