What do Insureds care about? Not coverages. EXPOSURES!
Insureds often do not know and often do not care about the world of insurance coverages. Insureds care about whether their EXPOSURES are covered. Like a gardener buying manure: they are buying manure not because they want manure but because they want good crops and pretty flowers.
This is why Exposure Checklists play such a valuable role. They are even better than coverage checklists. An Exposure Checklist is not a tangible list. It is a conversation regarding the client’s exposures, which contrasts with a coverage checklist which is a conversation regarding coverages.
To deliver then what clients really want, I have developed the first of its kind Exposure Checklist Coaching Program. This program is available in person or long distance. The program focuses on teaching producers AND CSRs how to develop, learn, identify, explain, and discuss exposures. Here’s a good personal lines example:
The standard agency procedure is to match liability limits with UM/UIM limits. The average middle class American carries something near $100,000/$300,000 limits up to $500,000 limits. A key catch (though not the only catch) is this reasonable scenario: A parent is carpooling and has four kids in their car when an uninsured driver blows through a stop sign at a high rate of speed. Is $250,000 or even $500,000 UM coverage enough to restore five lives? It’s questionable and yet the agency would have followed procedures.
Following standard procedures misses the point if we don’t focus on exposures.
Covering exposures, after all, is what agents are paid to do.
If you want to become a pro and take your agency to a higher level, contact us today!