When you get right down to the basic reason you buy insurance, it is to solve a problem. If you have a fire or some other loss, it becomes a problem for you. Many people look at insurance like an umbrella; you open it, and when bad things happen the umbrella is designed to protect you.
But there is a problem, which is, when you select your umbrella (insurance agent or policy), how do you know it will protect you? Are you confident that when your agent provides the solution, it is actually designed to meet your risks and your needs? Not all insurance policies are created equal. If your agent does not take the time to understand your unique issues, your agent is doing you a disservice.
One of the most important things an agent can do is truly understand your risks, then communicate with you in a way that helps you better understand what direction is best for you. Here are some problems that your business may have:
- Obligations through leases or other legal contracts – There are many ways to address these risks; insurance may not be the best, or only, option for you.
- Increased costs of your fleet operations – Did you know that one solution might be to develop a driver safety program? It can reduce fuel expenses and accidents.
The best way to solve a problem is to first understand it. To understand a problem involves asking questions, reviewing agreements, and visiting the facility or business.
Steve Jobs was obsessive about product development, and he thought deeply about the needs of customers. However, he also realized that “it isn't the consumer’s job to know what they need.” That's the agent’s job. Sometimes, that means coming up with something different.