Sadly, many agents struggle to differentiate themselves. And yet, it’s probably the number-one factor in the success of one agent over another. If you cannot demonstrate why you are different from every other agent, you are destined to compete on price.
Being different is the first step in building a book of business you care about. In some cases, this step alone can allow you to create some distance from the pack of commoditized agents and brokers.
When you understand the consumers’ expectations, you can begin to differentiate yourself and serve as a consultative risk advisor. Ask yourself, “How can I promote a differentiated service not focused on price and product?”
The answer to that question is NOT: “Well, we have quality customer service” or “We like to pick up the phone and call our clients instead of emailing them.” Think about it. If you went to your competitors down the street and asked them what makes their product or service unique, they would say the same thing. You are not differentiated when you play the commodity game and chase the 90-day bid.
Instead, determine how you can fill your clients’ needs and improve their risk profile. Practice solid risk management, and position yourself differently in the marketplace. Not only will your clients appreciate you and perceive you in a different way, your submissions will “rise to the top” as underwriters also embrace your risk management process.
Bottom line, when you strategically uncover the unforeseen risks facing your client’s organization and work with them to establish appropriate measures to mitigate them, you will be valued and appreciated by both clients and underwriters. And your differentiated risk management process will bring you happiness, passion, and purpose in your career.