COVID-19: 3 Ways Insurance Agents Can Demonstrate Their Value in a Crisis

Pandemic CrisisIn a crisis situation such as the COVID-19 pandemic, insurance professionals have an opportunity to shine and demonstrate to their clients that they are more than just a fair-weather agent. The following are three ways you can be there for your policyholders during this challenging time.

Be a communicator. It’s difficult to predict just how long the COVID-19 pandemic will last. In the meantime, it’s critical to have a plan to communicate with your customers. Not only does this help them feel safe, but it instills trust by reassuring them that you are on top of things. Communication platforms include your website, email and social media, and each one can address issues that include:

  • Safety measures you are taking to protect your staff and policyholders.
  • Revised agency hours of operation or closures.
  • Claims contact information.
  • A designated COVID-19 page on your website with daily updates, information and resources for all lines of business.

Be of service. You can’t provide coverage on a claim in progress. However, you can reach out to policyholders during this time to help them assess their losses and discuss how they can move forward to better mitigate future risks associated with a crisis. This can include:

  • Talking to business-owner clients about how COVID-19 has specifically impacted their operations.
  • Reviewing commercial policies for potential gaps in coverage.
  • Emphasizing the importance of having business interruption or trade disruption insurance.
  • Creating a business continuity plan.

Be available. This is a time when insurance agents become the “port in the storm” for their policyholders and to serve as a reminder that with everything going on, you are here to help. This can include:

  • Ensuring that all calls that come into your agency are answered and voicemail messages are returned in a timely manner. If you have staff working remotely, have a system that can forward calls to your mobile phone or answering service.
  • Preparing your staff with a contact list of critical numbers that they can provide to policyholders who may need to get in contact with a carrier, adjuster or other necessary resources.
  • Setting appointments with policyholders who may need to meet with you in person and assuring them that you are following Centers for Disease Control and Prevention best practices as an essential business.

Policyholders who are happy with their insurance agent are 80% more likely to remain loyal and renew their current policies than are those who are unsatisfied with their agent. In critical times such as the COVID-19 pandemic, it’s important for you to demonstrate your value as a trusted insurance professional.

Ensuring continuity in business is a vital part of navigating through a crisis situation. At FastrackCE, we make it easy for insurance professionals like you to maintain current CE licensing requirements so you can continue to serve your clients. When you need us, we can help. For more information, call 800-544-3605 or visit us at fastrackce.com.

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