“Just When You Thought It Was Safe to Go in the Water”
It is always a pleasure for me to be the featured keynote speaker at an insurance and financial industry event. It is the industry where I got my start, the industry that enabled me to climb to the Million Dollar Roundtable, but most important, the industry I have always loved, with reps I have always admired.
Heard from an old friend
I recently heard from an old friend in the industry who complained: “Scott, I think I’m finally losing my determination. I thought we made it through COVID, and now this.” The “this” she was referring to was a laundry list of problems around current world events, inflation, supply chain issues and data breaches that erode consumer confidence.
“And don’t even me started on regulation and technology changes,” she said.
It is hard to argue the fact that we live in hard times. However, I would point out that the very core, the exact mission of our industry is to specifically prepare our valued clients to handle catastrophe, should catastrophe occur, and to make sure they are protected financially and give them peace of mind. To that end, when has our industry not helped its clients through bad times?
Some of us will say that AI and online insurance sales have irrevocably changed Insurance and Financial Services. I disagree. I believe consumers need us more than ever.
In 2019, just before the world locked down you may remember reading about the Accenture Global Financial Services Consumer Study, where it was found that at least 50 percent of customers want more personalized banking and insurance advice, not less. Yes, they appreciated online services, but highly valued calls from their rep to give them advice. Are you determined to deliver that service?
While I understand that the future of AI is the unmistakable, it does not mean your clients should be neglected because we assume their customer service needs are being met. Artificial intelligence is helping clients with their insurance needs and improves corporate profitability by as much as 60 percent, but that doesn’t mean it makes everyone happy. The latest polls show that about 47 percent say that their customer experience has improved. Fair enough, but what about the 53 percent? Are you determined to deliver that service and beat the competition?
And by the way, while financial service companies are generating tons of data that often overwhelm clients, who is helping those clients muddle through that data? Are you determined to deliver that service and beat the competition?
Every one of our companies is well immersed in creating “the ideal digital experience.” And our industry has become masterful at social media, enterprise SEO, content, Local SEO and designing incredible websites.
Here’s the problem: many companies, despite the digital bells and whistles, often lack efficiency in measuring how much of an impression these multi-million-dollar efforts are having on reaching actual customers. Ultimately, many industry prognosticators agree that it is the individual rep who must be determined to market and sell the company, just as in “days of old.”
It will probably never be completely safe to go back in the water. That is why we learn to swim, and that is why it feels so good when we lose our fear of the deep water.
Scott Burrows, Insurance and Financial Industry Motivational Speaker is again available for in-person or virtual presentations. Please contact him today at his office: 520 – 548 – 1169, or through this website.