In a growing economy, finance and insurance brokers stay busy with the demands of a public sector looking for purchase power or liability coverage for any number of residential or commercial needs. While your competition might be steep, your overall reputation and skill will give you an edge with consumers. Here are two ways to give your business the advantage.
Carry Comprehensive Insurance
Even at your best, you won’t always be able to keep your clients happy. Depending on the level of frustration, you may get caught in a lawsuit from a dissatisfied client. Carrying errors and omissions insurance will help cover your loss in the event of a settlement, but it can also provide the finances for your legal defense.
To stand out from the other finance and insurance brokers in your industry, create a culture that is client-centric. Use technology and digital communication to keep your clients informed, market to new prospects, be accessible for questions or concerns, and stay on top of trends in the industry. Develop a portfolio that shows your flexibility for accounts of all sizes and needs. If you are able to show diversity in your approach, you can develop a wider client base.
If you want to establish longevity in the field, follow these two simple ideas. If you don’t currently carry professional insurance, make it a point to contact a local agent.