Insurance is not simply a piece of paper, a contract, or a simple transaction
Does that sound financial to you?A fire destroys a home A four car pile-up injures several people A business gets sued for a defective product
An employee has a serious injury
A wife and son are left without a father Would you describe these events as financial or emotional?
You could argue both and you may be correct, but I will contend that insurance will always be at its core and emotional product.
When you buy insurance you are not just buying a piece of paper with written promise. When you buy insurance you have just purchased the peace of mind that when a bad situation occurs you will be protected.
You are buying the assurance that someone on the other end of the phone or across the desk actually cares about your well-being.
For most people, their largest assets include; their future earning potential, life time savings, and property they own. These assets could range from thousands to millions of dollars.
Do you really feel comfortable putting your livelihood on the line based on a 15 minute phone call with someone across the country?
Do they know anything about you? Do they want the best for you? Do they listen? Will they be there for you at your time of need?
Let’s face it. Insurance is not an exciting topic. It’s complicated, expensive, and can be frustrating.
It’s also one of the most important products you will ever buy.
So why do most people view insurance as a transactional product? Because the insurance industry has trained consumers to view it as such.
“Get a quick quote”
“Apples to apples”
All of these terms are used every day by insurance companies and agents. It’s catchy, easy for the consumer to understand, and takes little effort.
I been have been guilty myself.
Not out of ego, but out of concern for our clients
There is too much on the line.
Not just for client’s financial well-being, that part is assumed. Insurance professionals need to focus on their client’s emotional well-being.
Insurance has never and will never be a strictly a financial product.
Do you agree? Sound off.