There are times when a "one-size-fits-all" approach works well in the market. After all, it can streamline and simplify products, solutions and services.
But, it's not the right fit every time. Just like every person is unique, every community is unique. And that means every market is unique, as well. Competitors vary, employer profiles differ and local dynamics — the economy, social trends and demographics — also influence and define markets in diverse ways.
Indeed, one size does not fit all.
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Ask a person who services the New York metro area to effectively service San Antonio, and you've got a clear disconnect. The markets aren't the same, which means the servicing shouldn't be, either. What does that mean for insurance companies who offer products and services nationally, even globally?
It all comes back to the value of a local presence — feet on the street where your clients live and work. It makes a difference.
Local offices support an insurance company's commitment to both you and your employer clients, granting access to people in the market who can more effectively deliver on what are likely their top three expectations: be available, be responsive and "make my problems go away."
That's why local sales, service and support matter. Done effectively, they result in:
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A first-hand understanding of the market and its specific needs
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On-site education for brokers
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Face-to-face interaction with clients to resolve issues more efficiently
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Close relationships with local sales reps to provide seamless solutions
Never underestimate the value clients place on working with insurance companies who have local people dedicated and matched to their unique needs. Yet, accomplishing this can be complicated and may require a more significant investment by the insurer. Is a local presence really worth it?
That depends.
Carefully aligning a client's needs, objectives and price points with what an insurance company has to offer — not just in terms of the products and services they provide, but also how they provide them — is a must. Local market expertise and service — combined with centralized support at the home office — is arguably the best way to meet those top three expectations: be available, be responsive and resolve issues.
And insurance companies who understand this know that the ability to meet a client's needs is about the intangibles — easy access, trusted advice and knowledgeable resources.
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