For Brent Campbell (pictured), director at Oracle Group, winning new business, retaining existing clients and building a positive reputation should be top of mind for brokers during the pandemic.
Campbell believes that when you serve a client, you become an essential part of their business and that “it’s not just insurance advice that we’re providing,” but that it’s also a matter of delivering superior value.
“Obviously it was a very stressed situation for many and we found by getting on the front foot, trying to communicate with a lot of our clients early and giving some of that value upfront,that’s where we’re starting to get a little bit more value in return,” he said.
“If our clients are in a difficult financial position, or they’re looking at having to shut their business down, what are the ways that we can help them that are insurance-related and also in other areas? On a lot of occasions, you might not get some direct reward for your time and effort, but it is a long-term proposition - you’re helping your clients in providing that advice and guidance.”
Campbell said insurers, brokers and clients are currently operating in a “stressed environment,” with a reduced appetite for placement. As such, maintaining “open channels” with clients and addressing complex risk management issues is paramount.
While Campbell stated that delivering value and superior service to clients is of the utmost importance during a crisis, he also conceded itcan be a “difficult” task to manage the media frenzy to ensure they get the right information that’s pertinent for them.
“I think at the moment, it’s difficult in the sense that there’s so much content coming through daily. What are you taking on board? Are there articles that you might be able to share with your clients that might be able to help them [that are] more specific to their business?” he asked.
“It’s important that, as brokers, we really stay abreast of all current information, for what we can offer as well. Certainly, I think the webinars have been excellent from the insurers - but half the challenge is that there’s so much content,so where do you direct your attention to?”
