Life Insurance – The Difference Between Wealth and Ruin.

I’m Luke Ambrose, Head of Insurance here at Organic Insurance. I’ve sold insurance for over a decade, and I’d like to think I’m pretty good at it.

Insurance is obviously something you hope to never use (especially Life Insurance), so it is perfectly understandable to be reluctant to spend money on it. However, Insurance has a purpose and if you are unfortunate enough to need it, having the right cover could mean the difference between your family maintaining a life of near financial normality to complete ruin. Worryingly the difference between financial normality and complete ruin could be as little as an extra few pounds a month.

So why you may ask, would anyone choose to sell such a depressing product? After all, Life Insurance is there to protect your loved ones after your inevitable demise. Depressing, right? It’s certainly not a job for a hypochondriac!

Considering most people put off buying it in a bid to avoid the topic it makes my chosen job role all the more surprising!

All insurance advisers have a vested interest in the policies they sell remaining in place. So it is important to place insurance which sticks and learning how to do this starts with knowing why it cancels. There are the obvious reasons which surprisingly still common practice in the industry – up-selling, bundling, and poor advice being among them. However, I believe the number one reason customers cancel is when they feel they have been sold to.

Nobody likes the feeling of being duped into buying instead of having made your own choice. It’s a sure-fire way in creating buyer’s remorse and a dangling index finger over the cancel direct debit button on their online banking.

So, I would suggest this is how customers are lost, but how are they kept? The answer is to stop selling. That may sound like I’ve had a few too many coffees today, especially considering this is a “sales” industry after all. However, it’s common knowledge that all the most successful companies in the world have customer service at the heart of everything they do.

Focusing solely on the customer’s experience and outcome automatically creates brand loyalty.

By spending the time to help, our staff realise how important they are and how much difference their actions actually have on people’s lives.  We shift the focus away from sales and commissions to understanding that the biggest risk of recommending the wrong product is the potential impact it has on that person’s life and their family.

Our staff need to have empathy for potential customers, it may seem obvious, and too simplistic, but this is how it’s done.

So why am I telling you this? Well, here at Organic Insurance we pride ourselves on transparency. In an industry often noted for overemphasising selling policies and commissions, we focus on what matters most, you the customer.

So, for a chat to see how we can help you, call Organic Insurance on 0333 023 8080 or visit our website www.organicinsurance.co.uk