Building Your California Insurance Business during Challenging Times

Building Your California Insurance Business during Challenging Times

Being an insurance professional is never simple, but the process has been far more complex in the last few years, particularly in California. Forest fires and the COVID-19 pandemic have greatly impacted peoples’ properties and lives. How can your insurance agency stay stable and even thrive in these times?

Focus on Your Company Culture 

According to Forbes , particularly in times of crisis, culture is key: “It’s the glue that holds organizations together during the good times and bad. It’s the reason employees bring their discretionary effort every day to work.” By checking in on your employees to see how they are doing as human beings and what they need now that work has moved to more virtual platforms, you can help make your company run more smoothly because your employees will feel better supported. It’s difficult to be in a client support role right now, and the more assistance you can give your employees, the better they will be able to perform their duties at work and make constructive suggestions for the future.

Provide Clarity on Options 

When it comes to insurance, homeowners’ options have gotten more complex in recent years, particularly in relation to fire. According to a  New York Times article , homeowners are worried about their options: “Losing access to private insurance can be devastating, hurting home values and making the homes harder to sell.” The key for insurance agencies is to provide clarity for clients about their insurance options. Since there continues to be regulatory uncertainty in the area of fire insurance in California, it is especially important for insurers to be as transparent as possible with clients about their options.

California homeowners have many questions about fire insurance for homes and vehicles.

Be a Helpful Resource 

During the pandemic, it has been difficult for some people to maintain their insurance and even their current homes. As weeks turn into months, it’s even more important to offer your clients information and options. These might include:

  • Updates on insurance options and ways to cancel, renew, and adjust insurance on vehicles and homes
  • Information about changes to insurance
  • Offers such as payment plans or referral incentives for existing clients. Consider how well you are making an effort to retain your current clients through excellent and flexible customer service.

Seek Out Help 

If you’re losing clients or your business is in transition, or if you’re moving into a new area of insurance, it’s helpful to get support and education from an insurance network. Finding like-minded people can help you find your community of peers during these difficult times. Joining an insurance network can:

  • Provide education about current trends in insurance marketing
  • Provide a peer and educational network
  • Help you develop preferred market access
  • Assist with lead follow up

That way, you can better your business even in challenging times.

At the American Agents Alliance, we help insurance agencies like yours find the support they need during challenging times. From discounts on products like E&O insurance to education and networking opportunities to insurance marketing assistance, we can give you the assistance you need to grow in difficult times.

Contact us to learn about programs such as our preferred market access program for California insurance agencies.

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