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Insurance Company Qualities

It’s that time of year for our family. It’s when we take time to review where we spend our money and ensure we are getting the best price for our money. One area that we pay special attention to is the different types of insurance that we need to have.

If you have ever worked in the insurance industry or done your due diligence researching options then you are probably well-versed in all things financial.  When it comes to where I spend my money (especially recurring payments and relationships) customer service and interaction is at the top of my list along with value.  Here are some of the essential items an insurance company must have to get and keep my business

Insurance Company Qualities


Fair Premiums

It goes without saying that customers are always on the lookout for the best possible competitive prices – and yet, it often seems as though insurance providers forget this in the name of profit. Of course, there is nothing wrong with wanting to make a profit – that is the nature of having a business. But that doesn’t mean that you can’t also try to provide fair prices for your customers as much as possible. Take a look at the premiums you are offering, and ask yourself whether they are really as fair and competitive as they could be. Chances are, you could do with reducing your premiums a little, even if only as an introductory rate. With fairer premiums, your customers are much more likely to tell other people about your business – and it goes without saying that that is always going to be good for the growth of your company.

Easy Claims Process

Of course, one of the most important parts of all is the actual claims process which your customers will need to go through. When they need to make a claim, they need to know that it is going to be as easy as possible to do. This is actually something of a challenge to ensure, but it will likely turn out to be hugely important for your customers to know that the process will be relatively simple. There are a number of things you can do to make sure this process is as simple as possible. First of all, take a look at each step of the process in turn and see whether it is really necessary. Chances are, there is something you can do to either speed things up or remove altogether. You should also look closely at the technology you are using, as this is an area which often catches people off guard in terms of the claims process. You want to make sure you are using technology which enables you to quickly and accurately process the claims. Claims administration for insurance can be difficult enough without the proper software, so make sure you get your hands on the right one.

Exemplary Customer Service

No matter what else, you simply can’t afford to skimp on your customer service. This is often what really makes the difference between a company which people respect and are happy to give their custom to, and one which people are not so keen on being around. Make sure you put every effort into training your staff up as well as you can. With any luck, you should find that this quickly has a significant knock-on effect for the rest of your business. It goes without saying that you want your customers to be treated as well as possible, so make sure that the employees on the phone are trained to do just that. As long as your customers feel well looked after throughout, it is much more likely that they will appreciate your efforts, even if the outcome is not what they had hoped for. Customer service is often the first and last thing that you should be really concerned about.

A Great Website

For most people, your website is the first thing they will see of your business. As such, it is clearly of great importance that it accurately reflects what your business is trying to do. You need to think, as best as you can, about your branding and what kind of impact you want to give as a first impression. With that in mind, you can then work towards building a website which really works to draw people in. You should try to fill it with engaging content, perhaps even blog posts about the insurance world, as this makes it more shareable and therefore makes it more of a viable marketing ploy. You should also make sure that the navigation is as easy to use as possible  -this will make your customers more happy to be there, and more likely to return as well. The more successful your website is, the more likely you are able to draw in greater numbers of customers from the early days onwards.


Nothing Hidden

One of the things that most frustrates customers of insurance companies is when they come into something that was previously hidden. This might be a hidden cost, which only becomes clear later on, or it could be a policy detail which was tucked away somewhere at the back of the policy booklet. Whatever it is, you can be sure that there is no quicker way of annoying your customers than by having hidden things. To really thrill them, be a little different – make it so that there are no hidden costs, or anything else hidden. That way, you can be sure to impress greater numbers of customers than most insurance companies do. And that is likely to bode very well for you in the future. You might need to go through your paperwork and systems, just to make sure that there are no hidden surprises. Work diligently to remove any that you find, and then you can proudly claim to be an insurance company with a difference. Then you can sit back and watch the customers come rolling in.