Rickson Dsouza’s Post

Transacting insurance via a broker offers several advantages over buying directly from an insurer: 1. Expertise: Brokers have in-depth knowledge of the insurance market and products, helping you make informed decisions. 2. Impartial advice: Brokers work for you, not the insurer, providing unbiased recommendations tailored to your needs. 3. Access to multiple insurers: Brokers have relationships with various insurers, offering a range of options and competitive pricing. 4. Personalized service: Brokers provide personalized support, guiding you through the process and addressing concerns. 5. Claims assistance: Brokers help navigate the claims process, ensuring fair settlements and minimizing stress. 6. Policy management: Brokers assist with policy changes, renewals, and cancellations, streamlining administration. 7. Risk assessment: Brokers help identify and mitigate risks, ensuring adequate coverage. 8. Cost savings: Brokers often negotiate better rates or discounts due to their volume of business. 9. Time-saving: Brokers handle paperwork, saving you time and effort. 10. Advocacy: Brokers advocate on your behalf, ensuring your interests are represented. In contrast, buying directly from an insurer may limit your options, and you may not receive personalized advice or support. Brokers offer valuable expertise and advocacy, making them a crucial part of the insurance process.

Most insurance buyers don't know how to evaluate whether you're a good agent or just another average one. If you do these things during the 1st Appointment, the insured will see how you're different: 1. Build rapport. - Sound obvious, right? Well, most agents don't do this naturally. 2. Uncover problems in the insured's own Micro-Niche. - The insured knows these problems better than you do. It's gets them talking. 3. Uncover problems in the insured's own business. - PS: If you can't uncover any significant problems, the insured will see you as "average" and you won't win their business. 4. Uncover problems in the insured's insurance program. - Again, if you can't uncover problems, you're done. Focus on the carrier/policy/plan first, then the incumbent agency's service team, then the incumbent producer. Find problems! 5. Present your 12-Month Timeline of Services. - This should you written out (Strategic, Objective, and Written). It should be focused on the insured's Micro-Niche and it should provide solutions to the insured's problems ... which you will have already researched and thought through beforehand. It should also be about 50% focused on the renewal process. 6. Then, ask for the signed Broker of Record Letter and carrier representation. - Everybody likes a winner. Nobody likes (respects) 2nd place. If you don't lead the prospect down the path you want them to go, they will always revert back to using you to gather quotes. 💯 💯 💯 Happy prospecting!

https://lnkd.in/evYzF6J3 8 out of 10 years were huge RED losses and Litigation was the real issue. Fraud comes from Litigation & they are tied together. 3rd Party Litigation & Litigation Funding also makes the problem in Florida so bad & by far the worst in the country. In fact, 80% of the entire countries Insurance Fraud & litigation comes from the State of Florida. Over a 7-year period, & out of 150 Billion paid out by Insurers only 10% went to the consumer so this is the real problem. Part of the problem is resolved w/ Litigation reform, but until the roof issue & Reinsurance issues are also resolved Premiums for Florida Property Owners will not be coming down anytime soon. Realtors need to get educated so they can help their clients get to the closing table and when it comes to help w/ Property Insurance I am here to help.  Please let Lee the IG educate you, your team of realtors, 1st time Homebuyer's, or HOA's at an upcoming team meeting or educational class. Please call me at 833-USAssure or email me at [email protected] to schedule a class soon live or by Zoom. My cell is always on at 954-270-7966. Our quotes are also done in 1 business day. #LitigationManagement #ClaimsManagement #FloridaInsurance #HomeownersInsurance #HomeInsurance #CondoInsurance #PremiumIncreases #RateIncreases #SouthFloridaRealEstate #PropertyandCasualtyInsurance #YourInsuranceConsultant

https://lnkd.in/evYzF6J3 8 out of 10 years were huge RED losses and Litigation was the real issue. Fraud comes from Litigation & they are tied together. 3rd Party Litigation & Litigation Funding also makes the problem in Florida so bad & by far the worst in the country. In fact, 80% of the entire countries Insurance Fraud & litigation comes from the State of Florida. Over a 7-year period, & out of 150 billion paid out by Insurers only 10% went to the consumer so this is the real problem. Part of the problem is resolved w/ Litigation reform, but until the roof issue & Reinsurance issues are also resolved Premiums for Florida Property Owners will not be coming down anytime soon. Realtors need to get educated so they can help their clients get to the closing table and when it comes to help w/ Property Insurance I am here to help. Please let Lee the IG educate you, your team of realtors, 1st time Homebuyer's, or HOA's at an upcoming team meeting or educational class. Please call me at 833-USAssure or email me at [email protected] to schedule a class soon live or by Zoom. My cell is always on at 954-270-7966. Our quotes are also done in 1 business day. #LitigationManagement #ClaimsManagement #FloridaInsurance #HomeownersInsurance #HomeInsurance #CondoInsurance #PremiumIncreases #RateIncreases #SouthFloridaRealEstate #PropertyandCasualtyInsurance #YourInsuranceConsultant

https://lnkd.in/evYzF6J3 8 out of 10 years were huge RED losses and Litigation was the real issue. Fraud comes from Litigation & they are tied together. 3rd Party Litigation & Litigation Funding also makes the problem in Florida so bad & by far the worst in the country. In fact, 80% of the entire countries Insurance Fraud & litigation comes from the State of Florida. Over a 7-year period, & out of 150 billion paid out by Insurers only 10% went to the consumer so this is the real problem. Part of the problem is resolved w/ Litigation reform, but until the roof issue & Reinsurance issues are also resolved Premiums for Florida Property Owners will not be coming down anytime soon. Realtors need to get educated so they can help their clients get to the closing table and when it comes to help w/ Property Insurance I am here to help. Please let Lee the IG educate you, your team of realtors, 1st time Homebuyer's, or HOA's at an upcoming team meeting or educational class. Please call me at 833-USAssure or email me at [email protected] to schedule a class soon live or by Zoom. My cell is always on at 954-270-7966. Our quotes are also done in 1 business day. #LitigationManagement #ClaimsManagement #FloridaInsurance #HomeownersInsurance #HomeInsurance #CondoInsurance #PremiumIncreases #RateIncreases #SouthFloridaRealEstate #PropertyandCasualtyInsurance #YourInsuranceConsultant

Knowledge is power. We all know this. But then why do so many insurance buyers continue to commoditize a product as complex as insurance? Candidly, I think it falls on the brokers. We've conditioned them to commoditize us and that is 100% our fault. Historically, brokers at large have done a poor job of educating clients and providing value outside of the simple act of placing insurance. The insurance buying process has historically been driven by two methods of purchasing: 1. Quoting with multiple agents in an effort to secure the lowest price (this never works and never will, by the way) 2. Working with an agent/broker who you are related to or enjoy golfing with This is NOT to say that relationship building is not important. It is absolutely critical. We all want to work with people we know, like, and trust. All I am saying is, that should not be the only factor you base your decision off of. I have found that (finally) the dynamics are shifting in the right direction. Insurance buyers are more hyper critical of insurance today than they ever have been, thus demanding a higher level of expertise and out-of-the-box thinking from their broker partners. The reality is, businesses face more risks today than they ever have before and this requires a higher degree of critical thinking from brokers. The quality of your broker matters. Don't wait until a claim happens to learn the difference between a middleman and a trusted advisor.

Life Insurance Agent data 31st March 2024 The oldest model of distribution which results in face to face-to-face presentation, discussion, and convincing customers to purchase an Insurance Policy going through stress. Corporate agents, Banks, Brokers, Direct channel and Digital sales is being given more priority, but most of the Insurers and #IRDA must know, if real essence of Insurance is pushed to each and every corner of country, it could be led by Agency Channels only. Here are the reasons Personalized Service: Agents provide personalized service and guidance to customers, understanding their unique needs and helping them choose the most suitable insurance products. Trust and Relationships: Agents often build long-term relationships with their clients, fostering trust and loyalty. This personal connection can lead to increased customer satisfaction and retention. Expert Advice: Agents are knowledgeable about various insurance products and can offer expert advice to clients, helping them make informed decisions based on their specific circumstances. Convenience: Agents provide a convenient one-stop shop for all insurance needs. Clients can discuss their requirements, purchase policies, and even file claims through their agent, saving time and effort. Claims Assistance: Agents assist clients throughout the claims process, acting as intermediaries between the insured and the insurance company. They help expedite claim settlements. Flexibility: Agents have the flexibility to tailor insurance solutions to meet the evolving needs of their clients. They can adjust coverage levels, add riders, or switch policies as necessary to adapt to changing life situations. Local Presence: Agents often have a local presence in communities, making them easily accessible to clients. This local knowledge allows them to better understand regional risks and offer customized solutions. Education and Awareness: Agents play a crucial role in educating consumers about the importance of insurance and the different types of coverage available. They raise awareness about risk management and financial protection, helping individuals and businesses safeguard their assets. Advocacy: Agents act as advocates for their clients, representing their interests and negotiating with insurance companies on their behalf. They ensure that clients receive fair treatment and optimal coverage at competitive rates. #AgentExpertise #CustomerRelationships #PersonalizedService #TrustworthyAgents #ConvenientInsurance #ClaimsAssistance #FlexibleCoverage #LocalAgentPresence #InsuranceEducation #ClientAdvocacy #Lifeinsurance

Are you ready to transform a rate increase into a growth opportunity? For property and casualty insurance agents, it's not just about adjusting numbers; it's about elevating value. Let's dive into the art of communicating value-added services to your clients during a rate increase. In the dynamic world of property and casualty insurance, rate increases are often perceived as a necessary evil. However, as an agent, you have the power to shift this perception by strategically highlighting the additional value these increases bring to your clients. It's not just about raising prices; it's about enriching the client experience and offering more comprehensive solutions. Firstly, understand your client's unique needs and concerns. This isn't just about selling insurance; it's about building relationships and trust. When you propose a rate increase, frame it within the context of how it directly benefits their specific situation. Are you offering faster claim processing, more personalized service, or access to a wider range of coverage options? Make these benefits tangible and relatable. Secondly, communication is key. Use clear, concise language and avoid industry jargon. Your clients appreciate transparency and simplicity. Explain the reasons behind the rate increase and how it translates into better service or additional offerings. Remember, it's not just a cost; it's an investment in their peace of mind. Lastly, be proactive in your approach. Don't wait for rate increase periods to discuss value. Regularly update your clients on new services, improvements, and industry insights. This sets a precedent that you're always working to offer them the best, making rate increases a more natural part of your ongoing service enhancement. In conclusion, rate increases are an opportunity to reinforce the value you bring to your clients. It's about showing them that with every change, comes an upgrade in the quality and scope of your service. As Patrick Bet-David often says, "In the world of business, it's not about the cost; it's about the value." Make your clients see the value, and the numbers will follow. #InsuranceAgents #RateIncreaseStrategy #ValueAddedServices #ClientRelationships #InsuranceIndustry #ProfessionalGrowth Remember, in the realm of property and casualty insurance, your ability to communicate value can turn a rate increase into a powerful tool for client retention and business growth.

"That would be un-American" The crusty insurance consultant objected when I told him I'm seeing clients get the best results when they... Share their current/expiring premiums with all underwriters and use one agent to quote. He, like many of you, may naturally feel that sharing premiums feels a bit unfair or would encourage underwriters to just slightly undercut pricing and not truly quote their lowest possible price. That assumption would make sense, but what it doesn't account for are: the cost associated with the risk of changing and the unknown. The unknown factor has the most impact on your pricing when negotiating. Even though underwriters are provided EXPIRING premiums, they don't know where the other underwriters will be coming in at. Time and time again, I have seen this strategy help clients achieve the best results. Don't take my word for it though, look at the premium saving results. Here's the last 6 clients who've hired me: $57,417 Savings (25%) $33,000 Savings (15%) $10,490 Savings (12%) $4,982 Savings (10%) $20,705 Savings (30%) $71,329 Savings (27%) In all these situations, coverage was improved. In all these situations, the clients hired one agent. In all these situations, the underwriters were provided expiring premiums. So...What is your company's renewal strategy? Do you have a plan to attack the hard market? If not, let's talk. There's no guarantee you'll get these results - but there is a 100% guarantee you won't get these results if you don't have a plan.

Easier or Errors and Omission? Why is it so important for a prospects new independent insurance agent to survey and prepare a new commercial insurance application vs simply copying from their existing policy? >Accuracy: Each client's circumstances can change over time. A new review ensures that the application accurately reflects the current situation, reducing the risk of coverage gaps or overpayments. >Customization: Clients have unique needs and may require different coverage options. Preparing a new application allows the agent to tailor the policy to the client's specific requirements. >Updated Information: Outdated information from a previous policy might lead to incorrect coverage, pricing, or underwriting decisions. A new application gathers the most up-to-date details. >Risk Assessment: Accurate information is essential for proper risk assessment. Relying on old information can result in mispriced policies, leading to financial issues for both the client and the agent. >Transparency: Presenting accurate information and options fosters trust between the agent and the client. It demonstrates the agent's commitment to providing the best possible coverage. >Claim Handling: If a claim arises, discrepancies between the policy and the actual circumstances could lead to claim denials or disputes. A new application helps prevent such situations. >Professionalism: Conducting a fresh survey and application showcases the agent's professionalism and dedication to delivering high-quality service. >Education: The survey process gives the agent the opportunity to educate the client about their coverage options, helping them make informed decisions. In summary, preparing a new insurance application allows independent agents to provide accurate, customized coverage that meets their clients' current needs. It also establishes trust, professionalism, and transparency in the agent-client relationship. As BGI Agency Network, Inc. ‘s commercial lines growth coach, I partner with our members to be successful, professional insurance resources for their clients. This includes surveys and checklists as well as other important resources. Let me help you- reach out to me at [email protected] #independentinsuranceagent #Professionalism #insurance