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Should broking go digital

20 Sep 2017

Much of current investment in customer service is focused on expanding capabilities in digital service channels and artificial intelligence.

But a leading customer service expert at the NIBA Convention in Sydney spoke about the need to focus much more on the human element of customer service especially in this age of the digital clutter. Martin Grunstein, one of Australia’s leading customer service experts and most successful motivational speakers said to the brokers present for his session, “You’re not just selling risk-management, you’re selling stress-management.”

Reports that digital technology will mean the death of insurance broking are greatly exaggerated. Whilst the traditional role of the insurance broker as we know it is currently being challenged, businesses that are willing to adapt will not only remain relevant to their customers, but can also capitalise on a greater ability to reach, engage and convert digital audiences into loyal customers with their non-digital connect with clients.

Grunstein stressed on the importance of reaching out in person along with the newsletters or sms-es or social media that you may be sending out to your customers, “Technology changes but people remain the same.”

He reminded brokers to give up the need to be right. He said, “The need to be right is a basic psychological human need and it is the catalyst for destruction of relationships, both personal and business.”

He believes that the adage “the customer is always right” is definitely not true. But he said that the customer must walk away THINKING they are right if you want them to come back. Clients are looking for empathy and validation and as their insurance broker you must give that to them along with risk management to win customer loyalty.

He also reminded brokers that they didn’t need to compete on price and discount their services to keep up with competition. “Differentiation is the decider. Make your service count before the sale to get business and after sale to keep it.”

People remember how you treat them, so treat your clients like you would like to be treated and ensure that they know you’ve got their back. “It is not about what you do, it’s what you make your clients aware of what you do.”

His anecdotes made everyone in the room laugh out loud but the feedback after the session was that it was one of the most useful sessions that some of the brokers had attended. All the attendees left with a list of things they were going to implement in their business.

Five things brokers should remember:

1. Use digital effectively but in combination with actual personal communication. For example: For every few newsletters make a personal call or catch up for coffee with your clients.

2. Know that you are not just selling insurance, you are your client’s friend, confidante, adviser and risk management expert.

3. Stand out from the digital clutter by having meaningful interactions with clients. For example: Organise a Melbourne cup draw, remember birthdays and call to wish etcetera.

4. Ensure that your website has testimonials from other clients talking about how wonderful your services are.

5. You don’t have to compete on price if your customer service strategy is on point.

 

 - Insurance & Risk

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