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Consumers Have Changed – Carriers, It’s Time to Change Along with Them

Wednesday, March 2, 2022
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It’s time for a new car. But your first step isn’t to go to a dealership and talk to a salesman. Instead, you’re researching online, comparing your options, pricing out different models, and reading reviews. All before you even set foot in a dealership.

Now, you’re in a rush, running errands, when your phone falls out of your pocket and breaks. What happens next? Well, you probably purchased a warranty or service package for this exact situation.  You’re covered, with a replacement phone headed your way.

Later, you’re looking to review your financial investments. You undertake extensive research before talking to financial professionals.

Compare all of this to how you used to shop ten, or even five, years ago. Consumers used to lean heavily on industry professionals. They’d recommend cars, help us buy a new smartphone, and guide us when making financial decisions. Now we lean on ourselves, and come to the professionals when it’s time to close the deal.

Insurance is no different. Consumers used to blindly rely on their brokers and would only shop for new coverage if their rates increased. Now, with budget tightening, your policyholders are being more proactive about influencing their insurance premiums, reducing their risk, and finding options that will give them the best coverage at the most reasonable rate.

Brokers might be the ones that help close the deal – but they aren’t the ones setting rates or boundaries of coverage. So, with consumers becoming more actively involved in the purchasing process, carriers need to ensure that they are supporting them. Carriers should be providing the information consumers need to make smart purchasing and policy management decisions.

You need to connect with your policyholders. So, let’s talk about how to make it happen.

Connecting with Policyholders

You might be thinking – well, why can’t my broker partners just provide the information policyholders are looking for? Well, they can. But you should be too.

Providing the resources that policyholders need to make smart coverage decisions gives carriers the opportunity to prove their worth beyond just the rates and coverage they provide. Being a full-service resource builds customer loyalty, and will help improve retention rates.

Your policyholders will be grateful too. Researching purchasing decisions isn’t always fun, or fruitful. But if your policyholders know you as a resource for that information, you’ll make researching their insurance decisions easier. Plus, you’ll be providing the tools they need to reduce their own risk and potentially decreasing their premium – without requiring your policyholders to shop around for new coverage.

Make Policyholder Engagement Simple

You know providing the tools to engage with your policyholders is key. But how do you put it into action?

You need a solution that makes it easy to provide your policyholders the tools and resources they need 24/7. That solution is Zywave’s Client Portal.

Designed to provide expert guidance to your clients, the Client Portal will help you exceed the needs of your policyholders, all without requiring you to lift a finger.

Once you’ve set up the portal for your policyholders, they can access Zywave’s carefully-curated and attorney-backed resources on:

  • HR
  • Risk management
  • Safety and wellness
  • Forms and policies
  • Discipline and termination

It’s secure, easy to use, and won’t usurp the role and responsibilities of your broker. It’s a win-win for everyone! Carriers engage their policyholders. Brokers can trust policyholders have the resources they need. And policyholders will have the Client Portal at their fingertips.

Ready to Learn More?

If you’re ready to provide policyholders with the connections they need through Zywave’s Client Portal, click here

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