A guide to coaching your customers

When it comes to insurance, some people can find it overwhelming, complex and intimidating.

This complexity is why Authorised Representatives are so vital in the insurance world, says QBE's John Schroder, General Manager, SME and Justin Boyes, Q nect Senior Manager, Partnerships who work to enable their partners to grow their business and coach their customers.

"Authorised Representatives are likely to be in their community and seen as the ‘go-to insurance person'" says Boyes. "They’re looked at as experts and are in the business of giving personal and business insurance advice."

So how do you navigate your customer through the world of insurance?

Understand their needs

Authorised Representatives "coach their customers to understand the value of their insurance," says Schroder. He believes it’s important to put yourself in the shoes of your customer and appreciate that sometimes for them, insurance "is dealing with something completely foreign to them."

This means that it’s especially important to take the time to really know who your customers are, where they’re coming from and why they may need you.

"Ask a lot of questions," says Boyes. "Learn about your customer, learn about what’s important to them, learn about their business. Ask if they’ve had claims before and what the experience was like. Ask about who their current broker is and why they want to move if they have one. Get to understand what is really motivating them to reach out to you."

Lean on your network

Remember, you’re not alone when you need to coach your customer. In fact, the best Authorised Representatives focus on their own development and rely on their network when they want to know more.

"It's important for Authorised Representatives to continuously learn," says Boyes. "They need to constantly gain knowledge about the industry and attend professional development days or seminars. These allow you to test and learn and understand what’s going on in the market."

In fact, the difference between a good Authorised Representative and a great one is their network, believes Schroder. An essential part of this is their relationship with their insurance provider.

"Your Business Relationship Manager will provide you with industry updates, changes in legislation and all that you need to know. If you don't have a network or relationship with that insurance company, you’re not going to get that."

Boyes agrees. "I've never met an underwriter who isn’t happy to share knowledge over the phone with a broker."

For example, "Say you’re going to visit a cabinet maker and haven’t placed much of that before, you can call up the underwriter or your Business Relationship Manager and ask if there’s anything you should be aware of or look out for. Underwriters can rattle off several points very quickly because they know what’s needed to support you with writing that risk."

Empower them with knowledge

With your insurer and network on your side, you can then empower your customer with the information they need to understand the value of insurance and exactly what they get from you and their cover.

"If Authorised Representatives can go to their customer and say, ‘this is what your insurance company wants to know and why’, right away they walk in sounding like an expert," says Boyes.

"We use the term trusted advisor a lot. That’s got to be the most important thing. Because if you’re not trusted… then it’s extremely difficult to educate your customer on the importance of certain covers."

"As simple as it sounds, it’s actually just understanding the client," says Schroder. "Particularly if they’re a small business, they’re run off their feet. They haven’t got time to do the 20-minute phone call once a month. What’s their preferred method of communication? Is it a short text, is it an email, is it a phone call or is it something between all that? It sets expectations."

When you engage with a customer on their terms, you can then pick up on other important non-verbal cues such as hesitation, confusion or nervousness. "Call it out and empathise with them," adds Schroder. "You can say things like, ‘I know this might be foreign to you, but this is what your insurance policy covers and what it means for your business."

Schroder believes that it’s also okay to say that you don’t know something. In fact, it can distinguish Authorised Representatives from being people who may "sometimes get the answers wrong." Instead, Schroder says, it’s better to say "I don’t know the answer right now but I can find out and come back to you in 24 hours."

Follow through

It’s keeping your promises that is crucial to your relationship, even after your customer has committed to you. In fact, "your sales pitch for the next renewal cycle starts the day after your customer signs the current renewal," says John.

This means replying to customers with any information you have promised within the timeframe you committed to. It’s also about being proactive. In a crisis, you can pick up the phone and make sure your customer is okay, says Schroder. You can also help them mitigate risk in the first place.

Boyes agrees that a vital part of coaching is continuing that relationship. "Now that you’re their broker… talk to your customer about risk management, help them identify potential risks in their business and how they can eliminate risk to bring their premiums down. All of these sorts of things show that you’re the expert and why you should be their broker in the first place."

For industry updates or advice on how to coach your customers, talk to your QBE Business Relationship Manager.