“From an ethical viewpoint, there are no big or small clients. All clients should be treated equally.” But Richard Giroux, a damage insurance broker and operations director at Courmark, also recognizes that when all is said and done, brokers do not always devote the same attention to each client, for a variety of reasons. “The distinction might be financial,” says Richard. “For some brokers, clients paying $100 in premiums and others paying $100,000 will not be treated in the same way.”
“Of course, a commercial or corporate client may generate more revenue than a personal insurance client will,” says Christian Duval, a trainer and consultant specializing in insurance and sales relationships. “But for the broker, these clients are equally important.” The essential thing, according to Richard Giroux, is to forge strong ties with each type of clientele.
“Segmentation is not simply an economic issue. It’s also a question of needs,” says Catherine Mainguy, a damage insurance broker and owner of Mainguy Assurances et Services Financiers: “A client who has multiple insurance policies simply doesn’t have the same needs as someone who has only one.”
The key: maintaining direct ties
So how do we make ourselves available to our clients? We have to be proactive, but how? Catherine offers this analysis: “The most important thing is to never forget what gives brokers their strength and differentiates them from direct insurers: our proximity, presence and listening skills. When clients come to see us, they have certain expectations. And we have to meet those expectations.” Entering into a direct relationship with clients is the key—and the mutual link that must be maintained and reinforced.
Everyone has their own solution in this regard. In Catherine’s view, brokers’ professional visibility at the community level lies at the heart of the matter—because that’s where client relationships are formed. “It’s important to get involved in the community, to attend meetings with local residents’ associations, condo owners’ groups, etc.”
Richard Giroux also underscores the importance of communicating with clients. “Clients who receive a renewal notice out of the blue will get the impression that they’re just a number.” Therefore, personalized telephone calls are a key part of professional best practices.
“We have to show that we’re there for our clients,” says Christian Duval. “There are numerous ways we can personalize our business relationships. We can emphasize our geographical proximity, extend our business hours, use letter paper with distinctive colours, etc. Those may be small steps to take, but they allow brokers to set themselves apart from direct insurers.”
New technologies = new Tools
Christian Duval recalls that 15 years ago, the brokerage network was hit hard by the arrival of the direct insurers, who used new communications techniques to advertise their products. “If we want to regain some of the ground we’ve lost, we have to use the same tools,” he says. “For example, new technologies should be used to enhance the information provided to clients. This may take the form of monthly newsletters, personalized emails, SMS notifications, etc. There’s no shortage of good ideas!”
A brokerage firm’s website can also be used to forge closer ties with clients, says Christian. Clients should be able to download PDF documents, ask questions, receive quick answers and view short informational videos online. The social networks are also essential when it comes to strengthening broker/client relationships, particularly LinkedIn. Catherine Mainguy notes that LinkedIn allows brokers to reach a wider audience “but only if they’re willing to venture beyond their brokerage network”.
Richard Giroux offers this piece of advice: always remember that human contact is all-important; in addition to giving brokers their strength, human contact is why they’re in business in the first place. Lying behind these techniques is the idea that clients who are satisfied with their broker will have no reason to look elsewhere. “When a business owner says she’s had the same accountant or the same lawyer for 20 years, there has to be a good reason. And it has to do with the fact that they’ve developed a trust-based relationship that goes beyond mere business. So why shouldn’t people be able to say the same thing about their insurance broker?”
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