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Introducing insurance coverages benchmark survey results

Thursday, January 19, 2012
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Client education is a vital part of selling insurance. How many times have you tried to persuade a client to increase or add a new coverage, but they don’t feel it’s necessary? Benchmark data can validate your recommendations, show clients if they are within industry norms and help you compete in larger markets. Now available in Broker Briefcase® to help you deliver are new 2011 Insurance Coverages Survey Results.

A powerful resource
With over 4,000 nationwide respondents spanning numerous industries, this survey provides meaningful benchmarks to support your own expertise and educate clients. Here’s how to translate this new resource into a powerful tool for prospecting, cross-selling and upselling:

  • Demonstrate your industry expertise with solid facts and statistics. Find survey statistics that speak to a client’s pain point to demonstrate how other businesses have addressed that particular issue with coverage.
  • Prove to clients that your recommendations are aligned with like businesses, adding credibility to your counsel and giving clients the evidence they need to pull the trigger on increased coverage limits or a new coverage line.
  • Validate past coverage decisions by showing clients where they are in line with industry norms.
  • Compete with larger agencies that have the advantage of benchmarking their large client base and position yourself among elite brokers.

Be sure to read Sales Vice President John Kuehn’s recent blog for more detailed discussion on the survey’s value to your business.

The breakdowns
This year’s enhanced survey provides data broken down in a number of meaningful ways. In addition to the general version, which surveyed over 4,000 business owners and risk management professionals, also access the following industry-specific surveys:

  • Construction and Contracting
  • Health Care
  • Manufacturing
  • Nonprofits, Professional and Social Services
  • Retail & Wholesale

In addition, each survey question is segmented by business size (total sales) to provide an even more accurate comparison for your clients. Find data on General Liability, Professional Liability, D&O, Employment Practice and Umbrella coverage, plus questions about general insurance concerns.

© 2012 Zywave, Inc. All rights reserved.

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