With a new year comes new resolutions and improved solutions. Industry leaders are putting their best foot forward to stay resilient for their colleagues and clients.
ALIGNED Insurance has taken the concept of ‘fresh starts’ to a new level, with goals to continue improving culture, client communication and technological capabilities.
“Although we have a digital front end and receive requests through our website, we have a great team that helps our clients on a human-to-human basis,” Andrew Clark (pictured), president and CEO of ALIGNED told Insurance Business. “We want to continue building on that notion and focus on opportunities ahead of us.”
The company is currently rebuilding its website to deliver more information to clients with a simplistic approach. ALIGNED takes education seriously, especially when it comes to small business accounts as many owners are unaware of their insurance needs.
“There was a gap in information being passed to the client, so we have been investing in education for a number of years,” Clark explained. “One of the biggest misconceptions is that small business insurance covers everything. It’s critically important to walk through claims-based scenarios that owners are concerned about to address where their coverage starts and stops.”
Most of the risks these clients worry about are insurable, but the products need to be comprehensively presented as owners may not know that coverages such as general liability and professional liability are completely separate.
Clark advises brokers to take the time to communicate and connect with clients. There’s an abundance of technological solutions right now, but, at the end of the day, this business is about people, he stressed.
“That personalized culture and client experience makes a difference and sets you apart from the competition,” he added.
Balancing technology with interpersonal relationships makes a world of difference to a client, especially for a new businesses owner who might still be an insurance novice.
“At ALIGNED, all prospects have a dedicated advocate that works with them from the get-go, and that person remains their advocate throughout the entire client experience,” Clark explained.
Online resources can then provide added value to clients. A great example is ALIGNED’s monthly newsletter that is sent out to keep clients informed on key trends and emerging risks in the marketplace.
“A consistent experience starts early and provides support throughout the steps leading up to renewal,” Clark noted. “It’s not about a quick automatic renewal; its about making sure we have a fresh understanding of the business.”
Some businesses, in areas such as hospitality, have changed throughout the pandemic, which is why ALIGNED’s brokers are proactively engaging with clients to understand what changes could potentially impact their coverage.
“That information has to be updated every year, multiple times a year,” Clark emphasised.
There are so many emerging risks for businesses that have downsized or pivoted due to COVID-19, and with risk profiles changing, brokers need to get as much transparency from clients as possible in order to get them the best protection.
“There’s an opportunity to reduce costs through greater communication and understanding of changes in operations,” he noted. “Having good relationships and constant touchpoints with your clientele is much more important during challenging times.
“Brokers need to make sure coverages are amended or reduced to reflect the current needs of their clients and provide advice about new opportunities they’re considering.”
