How do Unique Policy Customizations Benefit Clients?
InsuranceExperts.io
How do Unique Policy Customizations Benefit Clients?
In the world of insurance, the right policy customization can be a game-changer for clients. We've gathered insights from Insurance Agents and Brokers to share their experiences. From a policy that supports entrepreneurship to one that benefits international business, discover the significant impacts of four unique policy customizations.
- Customized Insurance Supports Entrepreneurship
- Self-Built Plans Reduce Customer Service Calls
- Tailored Flood Coverage Offers Comprehensive Support
- Adapted Policy Benefits International Business
Customized Insurance Supports Entrepreneurship
Imagine wanting to protect your family's future while also having the flexibility to pursue your own financial goals. That's exactly what Sarah, a busy entrepreneur, was looking for. By customizing her whole-life insurance policy, she was able to secure a strong financial safety net for her loved ones while also accessing the policy's value for exciting business investments. Customization gave her the best of both worlds: peace of mind and the freedom to grow.
Self-Built Plans Reduce Customer Service Calls
Let's look at an example. Imagine a health insurance company that lets customers build their own plans. This was a huge change! By choosing the coverage that fit them best, customers made 21% fewer calls to customer service. This saved the company money and made customers happier. It's a win-win! Customization really improves efficiency and customer satisfaction.
Tailored Flood Coverage Offers Comprehensive Support
I recall a time at Blue Insurance when unique policy customization benefited a client. A family had just moved into a flood-prone area, and while standard policies covered basic flood damage, we foresaw potential complexities unique to their location. Recognizing this, we tailored their policy by extending coverage to include aspects often overlooked, such as temporary accommodation and specific valuables vulnerable to water damage. A year later, a severe flood hit, causing extensive damage to their home.
Thanks to the customized policy, not only was the structural damage fully covered, but they also received comprehensive support for temporary housing and the replacement of special items that were lost. This level of thorough coverage provided them with significant financial relief and peace of mind during a highly stressful time. It was a clear example of how thoughtful customization can create a safety net that goes beyond the basics, truly serving the client's unique needs.
Adapted Policy Benefits International Business
We had a large distribution prospect from Long Island that brought in materials for nutritional supplement manufacturers. We changed their coverage from insuring the price of the product to the price of goods sold, as well as changing the claim payments from Chinese yuan to U.S. dollars.