Being a broker is not only about fully understanding insurance products and the industry as a whole, but also about providing excellent customer service. With eight years of industry experience, Maxton broker Joseph Cuzzocrea has picked up some secrets to success in this area.
Cuzzocrea (pictured) entered the insurance sector due to the influence of his father. Having worked in the hospitality industry, he quickly adapted to the responsibilities and lifestyle of insurance professionals.
“My father saw the potential in me to develop the skills to become an insurance broker. He offered me a position at Maxton’s, and like many others in our industry, I loved it and have never looked back,” Cuzzocrea said.
Cuzzocrea started his career in Maxton’s claims department in 2012, where he developed his product knowledge across various insurers, risks, and policy wordings. He first focused on heavy motor fleets until his portfolio expanded across many hard-to-place sectors such as EPS risk, sawmill timber manufacturing, and recycling plants.
“My markets broadened, as did my networks,” he said. “Based on my good customer relationships, I developed a great referral basis.
“The policies can be quite complex. Therefore, it is essential to utilise Steadfast to ensure we are providing like-for-like coverage,” he continued.
He eventually entered the broking world, where he continues to grow his portfolio and assist Maxton managing director Max Cuzzocrea in managing his portfolio.
“The satisfaction of achieving great results, solving claims for our clients, interacting with consumers, and the responsibilities of my role are very rewarding and continue to inspire me as a broker,” he said.
“I, along with an amazing team of claim specialists, overlook all the claims and handle all major loss incidents. I also complete all the onsite assessments for the team to assist in analysing the risk, which results in accuracy when obtaining terms from underwriters.”
Cuzzocrea has faced and overcome many challenges during his time – including problematic claims, unsatisfactory settlements, and difficult negotiations.
“This is why it’s very important to develop trusting relationships,s not only with your client but also the insurer and assessor. Making sure the insured is educated on the policy they have and how the relevant sections respond also helps,” Cuzzocrea said.
He said going the extra mile has helped him build stable client and underwriter relationships – from merely picking up the phone to liaising with an underwriter about the terms before sending an email.
“Being hospitable and providing feedback to underwriters about current rates, communication, or why they won or lost an account helps them to understand and improve their efficacy – resulting in favourable outcomes for all parties. [It is also vital to] be firm but fair and ensure that you communicate any issues with BDMs so they can attend to the problems or justify any issues,” he said.
He advised brokers to stay connected with customers and colleagues regularly and remain hospitable at networking events.
“[It is important to] meet face-to-face with clients, complete onsite inspections, understand their business operations, and call to check in – not just at renewal time or when there is a claim but just to generally see how they are going and if there have been any changes. This establishes trust as it verifies you care for their wellbeing rather than just sending an invoice,” he said.
“Keeping them informed of any changes in their industry or relevant information also demonstrates your knowledge. Determine their expectations and exceed them. If you are in the area, pop in for a ‘hello’.”
Cuzzocrea emphasised that growing with clients in their field develops trust, and generates referral networks.
“Obtaining customer feedback ensures you are meeting the client’s expectation, which helps in account retention as well as obtaining new business. This will ensure you are constantly looking for areas to improve,” he continued.
“Be willing to do more than your competitors, even if there is no financial gain, as every client interaction is an opportunity for growth,” Cuzzocrea concluded.
