You sell insurance policies just like every other agency. So how can you possibly stand out from the competition?
The key may have nothing to do with insurance. Instead, value-added services could be all that are necessary to solidify your customer relationships, to make your agency seem irreplaceable.
Value-added services are just that — they don't replace your main product, but they can extend your reach and the perception that you've truly thought of everything when it comes to a customer's peace of mind. Ideally, value-added services don't need to be extensive or take a lot of your own time to deliver. More often than not, the only requirement is a thoughtful gesture to make your customers feel truly protected. And isn't that the very essence of any insurance professional's mission, to provide a sense of protection?
It's best to develop a few well-planned value-added services that relate to your existing customers. Then, find some trusted business partners to deliver your suggested offerings. You can build in a referral free to the partnership if you want to generate some additional income, but often, the greatest value comes from long-term customer loyalty you'll establish.
Start with your portfolio and niche businesses and craft a suite of value-adds from there. You don't need to be the expert in any of the services — leave that to your partners — but be certain to fully vet any organization you select as a partner and continue regular follow-up with customers to make sure they're happy with your recommendations. You may want to coordinate service delivery just to stay connected and in-the-loop.
Some value-added services that can bolster your market position:
- Estate planning services
- Funeral preplanning
- Will preparation
- Videotape or photography services for asset identification
- Appraisal services
- Disaster preparation planning list or a discounted price on disaster food kits
- Tax preparation advice
- Disaster business plan development
- Cybersecurity traning
- Wellness programs
- Defensive driving courses for teens
- Alarm systems
- Winterization kits
This list is limited only by your creativity. Again, you don't need to have on-staff experts, just a connection to experts in the community. The goal is to offer a comprehensive program for those categories your customers' value most. You've already written the policies. Now go the extra step to show you've truly got the client covered.