According to Ernest and Young’s 2014 annual report on consumer trust in insurance, the insurance industry was considered less trustworthy than the banking industry.
Let that sink in.
How is it that banking, an industry that’s had its fair share of reputation troubles, ranks higher than insurance, an industry designed to protect consumers’ interests?
Consumers and their banks tend to have regular interactions, which helps to build trust and loyalty.
On the other hand, 44% of the 2014 survey respondents reported that they’d had no contact from their insurance providers in the past 18 months.
Let’s all hang our heads for a minute.
We made a comparison between marketing and dating in an earlier post. Remember?
Who would you rather spend the evening with? Someone who talks about themselves all night or someone who takes an interest in you?
We can all agree that the latter is preferable in almost any circumstance.
Let’s take that a step further.
Who would you go on a second date with? Someone who called back to say that they enjoyed getting to know you and look forward to seeing you again? Or someone who split town for 18 months without another word of contact until they needed something from you?
Again, there’s a pretty obvious answer in there.
Fifty-seven percent of people said that they’d like to hear from their insurer more than once a year. That doesn’t seem like a lot to ask, especially considering the many lines of communication open to insurance agents.
The good news for any agent paying attention is that the bar is so low, almost any contact will suffice to build improved relations. The survey showed that even one point of contact can “significantly shift the perception of insurers and brokers in the consumer’s mind.”
Finding time to build trust with prospects and clients can be challenging for busy agents. Fortunately, AgenciesOnline is committed to helping insurance agencies build trust and gain customer loyalty through consistent, engaging communication. We recognize that modern marketing is about more than sales; it’s about relationships. Contact our experts today to learn how we can help your agency build more of both.