Brett Thiedeman is an insurance broker from Thiedeman Insurance Solutions based in Melbourne. We’ve interviewed Brett to share some of what he loves about working in the insurance industry, his thoughts on where the industry is going
What do you love about being an insurance broker and an insurance expert?
I get to help people. I have a passion to help others every single day. Taking the time to help other people is one of the greatest joys in life. It helps me connect deeper with those I help and humanity in general.
What insurance lines are your core areas of expertise? Core areas you service?
Professional Indemnity, Cyber Insurance, Business Insurance, Motor Insurance, Home & Landlords Insurance.
What is the most unusual request you’ve had or heard about?
Not a request of me but one I heard of. A good moustache is a thing of beauty, and apparently, it can be very valuable as well. Cricket player Merv Hughes insured his moustache for a remarkable $370,000.
What makes an ideal client? Why?
1) When customers know that they are getting value and that your services are worth what you charge. They pay your price without an argument or long negotiation.
2) They listen to what you say and act on it. That feels great.
3) I genuinely enjoy working with them.
When have you gone above and beyond for a client?
Assisting a person to lodge a claim with the Financial Ombudsman after their claim was denied.
They were not a client & I did not receive any fee for my service.
Why should someone consider using an Insurance Broker?
A broker can help you navigate the insurance market to help you get .the right cover, at a competitive price.
An insurance broker works for you – not the insurance company. This means someone is helping you through the claims process when you need to claim – making the whole claims process easier.
What areas of insurance should people be aware of over the next 12 mths?
New Australian privacy laws came into force on February 22 this year.
You may be left scrambling if you haven’t locked down personal information and developed a response plan to deal with privacy breaches.
In the event of a serious data breach, cyber liability insurance may provide financial protection for your business. Policies can cover losses arising from hacking, data theft or accidental loss of client information, including the costs associated with cyber response and business interruption
If you’re a broker and would like to be featured on Advisr, please get in touch.
“Education-based marketing is the sharing of knowledge with the purpose of building trust”
To win more new business and build trust quickly with prospective clients, Insurance Brokers need to adopt an education-based marketing approach as a key part of their marketing and sales efforts.
WHY EDUCATION-BASED MARKETING MATTERS?
Education based marketing builds trust with prospective customers when an expert shares knowledge that educates a customer and that customer values the knowledge. In a digitally-led world, relationships between experts, such as insurance brokers, and customers should include an education-based marketing approach.
If building trust is important to you, then seek to educate.
If moving beyond transactional sales is important to you, then seek to educate.
If building long-term loyal clients who seek out and value your expertise, then seek to educate.
Today’s consumer won’t do business with people they don’t trust
HOW TO DO EDUCATION-BASED MARKETING.
Insurance brokers should seek to implement education-based marketing at all stages of their client engagement. This includes pre-sales marketing, first interactions through your website or on sites like Advisr, nurturing of warm leads, closing sales, deep in needs analysis, finalising your initial scope of work and through to re-engagement and growth strategies. Through consistent application of an education-based approach at every step with impact your business performance.
Some reflective questions to help you qualify how you’re currently going:
1: What does your marketing focus on? Does your marketing typically contain a product, sales or brand led message?
2: What content, tools and educational assets have you developed? Some have developed very little and others have developed a lot.
3: Why did you develop these specific tools? Did you replicate what you’d noticed other insurance brokers had developed or werethese assets developed through client consultation?
Three ways for how you might start to implement education-based marketing
If you’re looking to start integrating an education-based marketing strategy, here are some helpful approaches to work out where you could start your education-based marketing initiatives:
1: What are the key gaps in knowledge that you hear consistently from clients? Listen for phrases that customers use like “wow, i’d never thought of that”, “can you explain that to me again”, “what does that mean?” and “why would I need that?”. These are all strong clues around topics you could focus on. Write them down, create a list and monitor for trends over-time.
2: What insurance related words are your customers searching for on Google? Either do the research yourself or seek out an expert to help you. Targeting deep and specific search terms, often 4 or more words long, that align with your business offering is a good starting point.
3: What areas do people typically change as a result of your interaction with them? This might give you a sign that they were receptive to the input and valued it because they implemented it and simply lacked knowledge before they’d engaged you.
WHAT EDUCATION-BASED MARKETING LOOKS LIKE.
There are lots of styles and approaches you can use to communicate your education focused message. Below are some different forms and some examples of the type of content you could produce.
- Explainer videos
- Case studies of your clients
- Regulatory changes and implications
- Innovation & insights
- Written content can come in many forms.
- Interviews with customers on why they selected you.
- Client case studies who’ve been through a claim experience.
Market updates & trends
- Industry-specific overview.
- Updates on what new client risks have arisen.
- Trends that are seen in other industries that might apply to yours.
Data analysis across your sector or location
- Changes in risk levels being covered eg increased PI.
- Numbers and types of incidents occurring.
White-papers (longer-form reports)
- Critical analysis of bigger regulatory changes.
- In-depth client reviews of what made them successful.
- Topical lists: Cyber insurance checklist.
- Special events: Selling or Acquiring a business checklist.
- Shutting down a business.
- Starting a business.
- Adding a new premise or site to your business.
Inspirational and educational photos
- Photos relevant to your target audience; eg sailing photos for marine insurance experts.
- Testimonials from customers.
- Replacement Cost Calculator: Budget calculators to determine replacement value
- Scenario Planning: Impact on premiums if a customer reduces risk
If you’d like assistance with starting an education-based marketing campaign, please reach out to the Advisr team. We have a team of experts ready to help you develop great content, promote it to audiences and build your insurance broking business.
Online reviews are part of modern life. We review food, hotels, products, schools, shoes, charities, jobs and organisations – reviews are everywhere.
Why your business needs quality online reviews
All insurance brokerages and insurance brokers need quality online reviews. Your future customers are going to look for online reviews and use the reviews that they find as a way to assess and filter out who they may or may not engage with.
Quality online reviews help to build trust. They give potential customers a sense of what engaging with you will be like and what they should expect when they engage with you.
Online reviews will help you to dominate in Google. When a customer Googles your business or your individual name, what comes back? To improve the quality of what a customer sees, then quality online reviews can certainly help. Try Googling yourself now and experience what your customers might see.
So if generating excellent online reviews is important, then the question becomes, how can you start to generate these valuable excellent online reviews? Below are 7 different ways for insurance brokers to generate excellent online reviews.
7 ways to generate excellent online reviews
Ask your best clients to leave a review
It may sound bold, but asking your top 5 trusted clients directly to leave a review for you and sharing how grateful you’d be can go along way. Now all of them might not respond, however, you’re sure to get a few responses and a start is often all you need. Go on, work out who the top 5 clients you have that you could ask for a review, write down their names and then give them a call.
Make it simple for customers to provide a review
Somtimes it can be too complex for customers to leave reviews. So make it simple for them to know what to do by sharing or sending them clear instructions on what is required.
Link to Advisr from your website or online channels
To start generating naturally occurring reviews, make sure you link to your Advisr profile across your website and across social media or other online channels, saying “I’d love you to leave a review on Advisr”. This approach both increases awareness of your reviews, often driving customers through to take a look at your reviews and can prompt a user to leave one without you having to ask.
Incorporate asking for online reviews into your client engagement process
There are key moments in your engagement with clients when it is appropriate and timely to ask a client to leave you a review. For example, if you’ve gone above and beyond in your service of the client and they are expressing their gratitude, then it is a great moment to say something along the lines of”if I’ve been of great assistance to you, then it would be most valuable to me if you’d consider leaving an online review so others can hear about your experience. Would you be willing to do that? It will only take a few minutes but would mean a lot to me.”
Include links to your Advisr profile in your email signature.
Your email signature is valuable, but are you using it to promote yourself effectively? Incorporating either a text link or an image in your email signature can help to inform existing and prospective customers of your quality as an insurance broker. For example, your email signature could say:
“See what people think of me on Advisr” or “I’m a 5 Star Reviewed Insurance Broker” or “Rate me on Advisr”
Share the reviews you receive and highlight them to your existing customers
Start sharing your existing reviews with your current and potential customers as part of your business processes. Doing so, highlights to customers more about you and can lead to customers wanting to share their feedback as well. Making the receiving reviews from customers, simply a part of your overall engagement process.
Leave a review for your client online, they’ll love it!
Reciprocity is the powerful social norm of responding to a positive action with another positive action. As such, being proactive and leaving genuine reviews for your clients of their businesses and your experience of it, can lead to your clients feeling motivated to respond to your positive action with their own positive review of you.
Remeber, quality online reviews help to build trust and give potential customers a sense of what engaging with you will be like and what they should expect when they engage you with.
Online reviews will help you to dominate in Google. So have you Googled yourself yet?
If you feel you’d like some more assistance on how to generate excellent online reviews, we’d be more than happy to help so please contact Advisr Support.
What are Insurtechs?
Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech is a combination of “insurance” and “technology” that was inspired by the term Fintech – which comes from combining “Finance” and “Technology”.
Don’t Insurtechs just want to disrupt Insurance?
Insurtechs can be seen to be a disruptive force in the Insurance industry. For any startup it can be relatively easy to make big bold statements about how the incumbent industry, in this case, insurance, needs to “keep up”, “evolve” and “get with the times.”
However, complete disruption is not always that easy to achieve, nor is it always desirable for the end customer. The promises can be shortlived and in a complex and important industry like insurance, simply too risky. Insurance is a complex industry, that is highly regulated and forms a very important part of the wider business and social ecosystem.
That isn’t to say that new thinking is bad or that challenger startups should cease. On the contrary, we’re focused on being an enabler in the insurance industry and utilising the strengths we have, by being a startup focused on attracting and informing customers, to enable insurance brokers to benefit.
Advisr enables the insurance industry
At Advisr we believe a few key things:
- Customer Centricity – Insurance should be simpler for customers to understand.
- Independent Expertise – Good independent advice will always be valuable to customers.
- Digitisation – Digital channels should make a consumers life easier.
Our strategy is to enable the industry to connect with customers and grow their business.
Insurance brokers are a vital part of the insurance ecosystem. Good independent advice will always be valuable to customers.
Advisr works with and for Insurance Brokers
Intermediated insurance products are those insurance products that are advised and sold via an insurance broker. Increasingly, the big insurers are looking for ways to move into intermediated insurance category. Insurance brokers also need to improve their performance and service delivery to ensure that they can retain and grow their customers. For an insurance broker to simply keep doing what they have always done, won’t be enough to ensure their viability into the future.
We believe Insurance Brokers need to own their reputation online:
Insurance brokers know the value of a good reputation and the power of word of mouth or referral business on driving their own businesses performance and their individual performance.
Today, a good reputation is more valuable than ever. Especially a good digital reputation.
It is widely understood that the first thing a prospective customer does when they are looking for a new insurance broker is to type their names into Google. We all do it. Google and the ability to reach vast quantities of the specific information super fast has changed our world.
Advisr enables insurance brokers to build their online reputation. On Advisr you can post content about your areas of expertise, highlight the service areas where you excel and cultivate client feedback and promote it publicly.
An Advisr Profile pages rank incredibly well in Google and when prospective customers are searching for you, by name, your Advisr profile will come up.
We believe public customer feedback makes the insurance industry stronger:
Independent ratings and reviews on our performance can feel confronting. Yet as customers, in nearly every area of life, we look to independent ratings and reviews to help us make decisions regarding holidays, schools, restaurants, cars, sunglasses, books, handymen and many many many more.
Customer feedback is coming to service industries and will become a highly valued differentiator.
Advisr enables your customers to leave feedback, and for you to manage and engage directly with their feedback. We’re working hard to be a trusted enabler across the industry.
We believe that good insurance brokers will enhance their reputation through transparent feedback and that ratings and reviews will make the insurance industry stronger.
Want help generating online review? Here are 7 ways insurance brokers can generate excellent online reviews.
We love sending new business to Insurance Brokers:
With thousands and thousands of customers coming to Advisr every month looking for an insurance broker, we’re connecting more and more customers with brokers every day.
Are you interested in growing your insurance broking business through generating new inbound enquires? Then, learn more about why insurance brokers are partnering with Advisr
We’re enabling the insurance industry. We’re working with more and more insurance brokers every day and would love you to be part of Advisr.