“Brokers need options,” said Joseph. “Brokers need all the tools available, so we can serve our customers the way they prefer to be served. Whatever is best for clients is what we’re going for.”
There are a number of digital tools enabling brokers to serve consumers during this time, including eSignatures, and many have had to learn to use them on the fly.
“This pandemic will undoubtedly change how brokers work,” said Joseph. “Some brokers will adopt wholesale change, and some will adopt incremental change.”
The pandemic is very likely to change workflows permanently, though that could ultimately be to the benefit of brokers and their customers. “There’s so many things we’re going to take away from this experience for the good of brokerages, their staff and their clients—and that’s what’s most important.”
Joseph used the opportunity to raise the prospect of the industry coming together on an omni-channel solution for brokers. “There’s never been a better time to do this. Necessity is a wonderful thing.”
Though it’s a very challenging time for everyone, the way brokers are approaching the situation helping their clients is being noticed and appreciated. “I just want to recognize the work that brokers are doing,” said Graham. “The broker value proposition is coming to the fore through all this change.”
“We’re very proud of the way brokers have responded to this crisis and we continue to be proud,” said Joseph. “For the longest time as brokers we’ve communicated to our clients that we’d be there for them in their time of need. This has provided us the particular opportunity to live that and demonstrate that. It’s not just about a premium or a policy, it’s about the support and the advice.”
4 Comments
Andy Friyia
Thought it was entertaining and informative. Thanks Joe.
Gord Fergusson
This was a great webinar. Would be interested to know what other Brokerages now think on next steps and how to slowly and thoughtfully bring our offices back to life while dealing with school closures and defining work space.
Tino
Brokers have value. However, the marketing message is a little off. The marketing message historically has been some variation of “we shop the market to find you the best rate.” Brokers say they will get the best rate. Direct writers say they have the best rates for good drivers. When everybody is saying that they have the best rate, the message becomes meaningless.
Jeff
Hi Tino, thanks for your comment. We agree that focusing on price isn’t the best way to promote brokers—that’s why we took the approach we did with our Ontario Brokers campaign: https://www.ibao.org/news/ibao-launches-new-campaign-highlighting-the-benefits-of-using-an-insurance-broker/