Not all insurance industry fixes are legislative | Opinion
I’ve been an insurance agent for over 20 years. Today, Floridians are in an insurance crisis. Insurance companies are pointing at roofers and attorneys, attorneys and roofers are pointing at insurance companies, and both are looking to the Florida Legislature to fix the mess we’re in.
I’ve never worried much about who is at fault. But what am I responsible for, as an insurance agent? I’m a part of the industry that is wringing its hands and insisting that there is only one answer: Charge our customers more and wait for a legislative fix.
I have a responsibility to sell my customer the right product at a competitive price, with a company that processes claims with a high level of customer service and pays them with checks that won’t bounce. Is that becoming more difficult in today’s business environment? Absolutely.
But, why? Insurance agents used to routinely meet their customers and survey a property before binding coverage for hundreds of thousands of dollars of potential risk. Now, it’s rare for an agent to go see a risk and meet their customer.
Agents used to engage in “Front Line Underwriting” to screen out risks that were in poor condition or poorly cared for, or potential fraud. The company could be confident that their writing agents would submit an accurate, clean application with complete information, but that is no longer the case. Agents now typically supervise a phone bank of clerical level employees who check boxes and input numbers with little thought and less expertise in the field.
Insurance agents used to be heavily involved in the claims process. They were the first phone call a client made when something went wrong. Now, customers often don’t know the name of their agent and cannot contact them even if they did.
The most available, helpful, assertive source of help is now a roofer knocking on their door, instead of their insurance agent. A roofer-initiated claim will likely cost more and take more time than one in which the agent works with their client.
A great insurance agent takes great care of their customers by selling the right policy and ensures they are well-cared for if something happens to their home. Agent should also be a great partner to the insurance companies, so the company can price appropriately for each risk they take on.
When something goes wrong, a great insurance agent should be there to help their client from the moment it’s reported to the time they get a check. Good communication and customer care prevents delays and frustration, which helps the company (and customer) avoid costly, time-consuming litigation.
Agents should do more, and customers should expect their agent to do more heavy lifting than simply picking up their check every year. Customer will get better outcomes, and insurers will, too.
If you’re not with a local agent who works at least as hard as you do, I’d suggest finding one and moving your business there.
Steve Gensolin is an insurance agent at Little Star Insurance in Apopka, FL.
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This article originally appeared on Tallahassee Democrat: Not all insurance industry fixes are legislative | Opinion
