Somedays I just get sooooooooo tired…

So tired of being seen by some, as a commodity, to be bullied and given the run around.
So tired of always being the bad guy when it comes to car insurance increases every year…In fact its gotten so bad that I’m the bad guy even after I’ve arranged discounts!

Of course, some days I just have to laugh…or else burst out crying. Take this for example:
Brendan received an email from a ‘client’ worded as following:

“Hi Brendan

Thanks for weekly communication very much appreciated. I believe it is about time to review my insuarance premiums, please review with better rates.

Regards“

Now this comes from someone who we took a chance on and who never responds to any of our attempts to build a relationship with him. Notice that he thanks Brendan for his weekly communication and the fact that it’s appreciated –  But also notice the demand tagged on at the end.

Anyways Brendan hands the task over to me and so I attempt to remedy the situation on behalf of the client. Here is my email response to the client:

“Hi,

Brendan asked that I look at your schedule for the 2011 year…
Your premium will increase as of 25 April 2011 from R1, 537.97 to R1, 630.53 per month.
I have negotiated a discount with ***** and your premium will be as follows:
Current premium of R1, 537.97 drops to R1, 528.82 per month and is guaranteed for the full year with no sudden increases at all!”

Basically what I did was arrange that the clients 2011 insurance premium – instead of increasing to R1, 630 per month – reduced to less than what he paid in 2010.

This is the response I received:

“Sir

I just had a look at the policy schedule would like to express my disappointment with the premiums you charging me. I would like to rquest that this policy be terminated at the end of April 2011. I does not make sence to me how can premiums increase on yearly bases whiles car prizes depreciate. This is a total rip off.

Please respect my decision and do not deduct any premiums from me on the 25/04/2011 as I will be terminating my contract with you end of April 2011. Please do not phone me as I am very busy during the day.

Regards“

Notice how all the ‘appreciation’ mentioned in his first email has gone out the window? Let me put this in perspective for you.

Imagine for a moment you had a close friend. Now this friend enjoyed reading all the letters and emails and greeting cards, and… that you sent him, but never actually bothered to acknowledge your ongoing communication.

Then one fine day this so called  ‘friend’ calls you up and asks you to lend him some money. Being the good friend you are, you end up lending him R500. A week later you get an email from him expressing his disappointment with the fact that you only lent him R500!

While this is a silly example I’m sure you can relate to the concept of ‘fair weather friends”. I’m also quite sure that you would have told this ‘friend’ where to get off, right?

Well I didn’t…instead I took the time to write an email explaining how car insurance works:

“Hi,

I have instructed ***** to cancel your car insurance at the end of April.
Bear in mind that your premium for 2011 is lower than your premium was for 2010.

While you are correct in saying that your car has depreciated in value, unfortunately the cost of repairing your vehicles hasn’t. Panelbeaters don’t get cheaper every year and repairs account for 80% of all claims.
So while your car value is reduced every year by all car insurance companies, you will notice that your premiums increase with all car insurance companies.

Also remember that the cost of doing business for an insurance company involves claims. Claims need to be paid from the premiums collected by the insurance company. This cost is spread amongst the policyholders and results in annual increases. In your case ****** has kept your monthly premium in line with what it was last year.

Regards“

So what’s the take away?

Don’t we all hate people who only know us when they want something from us?

We, as brokers/financial advisors need to see and treat our clients as family. You don’t rip your brothers and sisters off, do you? Clients, on the other hand, need to see their broker as a trusted advisor – someone who’s on their side – and not as a commodity to be bullied into submission.

Who knows, maybe one day, I might be able to make a difference when you need a claim sorted out! Here’s an example from last week:

Dear Lawrence!!

WHAT ON EARTH DID YOU SAY TO THESE PEOPLE!!!!!!!!!!…..EMAILS ARE NOW
FLYING AT ****** AND I EVEN GOT A CALL FROM ****** JUST NOW!!!  IT
LOOKS AS IF THEY WILL BE FIXING THE PROBLEM AFTER ALL.

WHATEVER YOU SAID SEEMS TO PUSHED THEM TO PANIC MODE (GOOD)!
WILL KEEP YOU POSTED

THANKS ONCE AGAIN
BHEKI

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Until next time.

The InsuranceFundi Team