Most Common Questions Businesses Ask Insurance Agents | Cabrella

Posted by Benjamin Meskin on Nov 14, 2019 4:16:26 PM
Benjamin Meskin

Coverage Umbrella

 

Insurance agents answer countless difficult questions throughout their careers. Your ability to solve the issues of your business clients will have a lasting impact on both your relationships with customers and your reputation.

 

Below, you'll find the most common questions businesses ask insurance agents and how to answer them. Additionally, you'll gain a better understanding of why clients come to you with these inquiries, enabling you to meet and exceed their expectations.

 

 

Question 1:

Can you make a change on my latest billing statement?

 

Changes to Billing Statement

 

A client may ask you if you can make a change to their billing statement. However, these adjustments need to take place between the client and the insurance provider. There are several reasons your customer might approach you for a resolution.

 

  1. The client prefers to interact with you as their agent.
  2. The client doesn't feel comfortable contacting the carrier.
  3. The client desires a higher level of personalized service.

 

Knowing how to guide policyholders and provide them with accurate information will help build customer loyalty. Additionally, you'll establish trust with clients by showing them that you're knowledgeable and prepared to serve their needs long-term. 

 

Answer:

 

Find out where your client needs to go to locate billing statements online. Also, you should provide policyholders with the direct contact information of the billing company. Make customers feel even more comfortable by preparing a step-by-step instruction sheet for resolving payment and billing issues. If self-service options are available, make sure your clients understand how to use them.

 

 

Question 2:

How can I change my payment method?

 

Changing your insurance payment method

 

In some cases, clients may have to request an authorization form from their agents to change their preferred payment methods. In other cases, business owners will have the option to make changes online or through the insurer. Your client must know how to make these changes to avoid a policy lapse or cancellation. Clients may ask you for help because of the following.

 

  1. The client is having difficulty setting up online billing or making changes.
  2. The client made changes, but they aren't immediately visible. 
  3. The client missed an essential update from the insurer. For example, the policyholder was supposed to start using their policy number to make automatic withdrawals instead of their account number. 

 

Understanding why your clients are asking a particular question will make it easier for you to assist. For example, if a policyholder is having trouble setting up their online account, you can help them by offering instructions or guidance through a video or image-based tutorial

 

On the other hand, a client may have completed changes but wasn't aware that they would take time, even weeks, to go into effect. In this case, you may have to work with the client and insurer to come up with an individual solution. 

 

Answer:

 

Give your clients full peace of mind by creating a game plan to ensure that they never miss payments. First, suggest that your client set up automatic payments. Additionally, send reminders at least once a year for policyholders to update their billing information. An expired credit card shouldn't result in a canceled policy. Catching these changes ahead of time can save you and your clients from frustrations down the line.

 

Second, get to know the individual needs of each customer to find a payment schedule that works for them. Offer to send automatic reminders via email or text when due dates are approaching. Many business owners aren't aware of all the payment options available. 

 

 

Question 3:

I missed my last payment. What do I do?

 

Missed Insurance Payment

 

Many factors can lead to a client missing a payment. Business owners, in particular, can't risk losing protection and need to ensure any billing problems are corrected immediately. Below are a few reasons why your client's payment may not have gone through. 

 

  1. The client had insufficient funds on their account at the time of withdrawal.
  2. The client's billing information changed.
  3. The client's account was not updated on time.

 

First, you want to identify why the last payment was missed and how long it has been since the grace period. Next, you'll want to explain what happens to their coverage during the grace period. Similarly, go through what to do in the event of a claim.

 

 

Answer:

 

Typically, your client's business insurance policy will not be canceled after a single missed payment. Take this opportunity to assure the customer that they have nothing to worry about and that you will help them correct the situation. Additionally, you should offer tips and advice to help them avoid missed payments in the future. 

 

If your client had insufficient funds to complete the payment in full on time, they might have to pay late fees. Inform the policyholder of how these fees are calculated and provide additional transparency. Taking this step will help establish trust with your client. Similarly, if the client's billing or account information changed, offer to personally help them make these changes and double-check that they've been confirmed.

 

 

 

Question 4:

My business is growing. Do I need to consider additional coverages?

 

Additional insurance coverage for businesses

 

As your clients grow their businesses, their insurance needs are likely to evolve. Your job as their agent is to inform clients of potentially beneficial products and services. Policyholders are more likely to purchase additional policies if they understand the risks and opportunities behind these coverages. The following are a few circumstances when your client may ask about extra coverage.

 

  1. The client's company is growing and requires higher coverage limits.
  2. The client is considering doing business internationally.
  3. The client's business strategy has changed.

 

Remember that the needs of each business are unique. Discuss the details and challenges that your client is facing from the very beginning. Suggest policies that could be essential for the company's long-term growth and follow up with clients to find out when they reach these stages. Your ultimate goal should be to establish a presence as a trusted partner that's looking out for clients' best interests.

 

 

Answer:

 

Always make sure you have access to all the information and resources you need to resolve your client's challenges. Some of their questions may seem frustrating at times. However, you need to remember that the more your clients contact you, the more trust they have in you as their agent. 

 

If you don't have an immediate answer, tell your policyholder that you need to look into it and will get back to them shortly with a reply. Ultimately, clients will look to you to act as the middleman between them and the company.

 

 

Expand Your Portfolio

 

 

In an age of self-service solutions and online companies, agents need to keep clients engaged with innovative suggestions and ultra-personalized service. Cabrella Shipping Insurance can be a valuable addition to your coverage portfolio. Offering this unique protection can help agents attract larger, international clients and earn higher commissions. 

 

To learn more about Adding Cabrella to your coverage portfolio, contact the experts at Cabrella at (844) 422-2735 . Our insurance experts are waiting to answer any questions you have. Or, fill out the information below and we will get in contact.

 

 

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