{"id":24272,"date":"2011-08-01T15:41:47","date_gmt":"2011-08-01T04:41:47","guid":{"rendered":"https:\/\/riskinfo.com.au\/case-studies\/?p=24272"},"modified":"2014-05-02T11:34:51","modified_gmt":"2014-05-02T00:34:51","slug":"case-study-how-to-combine-opt-in-and-risk-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/case-studies\/2011\/08\/01\/case-study-how-to-combine-opt-in-and-risk-advice\/","title":{"rendered":"Insurance How To – Positioning Client Reviews"},"content":{"rendered":"

This Insurance How To provides very useful tips to help advisers highlight the importance of ongoing communication between themselves and their clients. It also covers how to position annual reviews, and lists the kinds of triggers that can prompt an insurance review.<\/h4>\n

[hr]<\/p>\n

At a glance<\/h3>\n

Provided by:<\/strong> Sue Laing
\nBusiness:<\/strong> The Risk Store
\nTopics covered:\u00a0<\/strong>annual reviews, generating client engagement<\/p>\n

[hr]<\/p>\n

In detail<\/h3>\n

It\u2019s sensible for all risk advisers to sit back and ask themselves: \u201cHow do I educate my clients about the value of my regular input?\u201d<\/p>\n

This should be a walk in the park for advisers. A life risk protection plan is a living, moving beast. Every time a client has some sort of important change in their lives, it\u2019s crucial to review the impact that change might have on their plan.<\/p>\n

Examples include:<\/p>\n

    \n
  • Replacing lost insurance cover from super on retrenchment<\/li>\n
  • Changing sums insured<\/li>\n
  • Adjusting policy ownership<\/li>\n
  • Adding products<\/li>\n
  • Altering\/updating beneficiary nominations<\/li>\n
  • Removing loadings\/exclusions<\/li>\n
  • Claiming where the client didn\u2019t know they had a claim (this happens much more often than you might realise!)<\/li>\n<\/ul>\n

    Getting clients trained to contact you at these times of change takes some effort and smarts.<\/p><\/blockquote>\n

    Getting clients trained to contact you at these times of change takes some effort and smarts. But it\u2019s worth it to embed the long term relationship in their minds. From the first, through to the last meeting in the first year of the relationship, the language must reflect:<\/p>\n

      \n
    1. Your intention to \u2018stay on top\u2019 of the client\u2019s protection needs, and<\/li>\n
    2. Their responsibility to learn to identify the \u2018triggers\u2019 that indicate they have to talk to you.<\/li>\n<\/ol>\n

      How do you ensure that a client knows to contact you when it\u2019s not<\/span> review time and something\u2019s changed?<\/p>\n

        \n
      1. Start educating them early in the relationship. At the first meeting when you present your visual graphic of the advice process (assuming you have this wonderful tool in your toolkit), ensure it has a little side arrow or box near \u201cReviews\u201d that says \u201cYou need to contact us if your circumstances change between reviews\u201d.<\/li>\n
      2. In the SoA, describe \u201cThe Review Process\u201d and<\/span> have a separate heading that says something like \u201cIn Between Reviews\u201d and a simple few lines<\/i> mentioning the sorts of things that should prompt them to contact you (the review checklist in the risk store has these \u2018triggers\u2019 listed).<\/li>\n
      3. At the final plan completion meeting, give them a fridge magnet or other such device, with the words \u2018LET US KNOW!\u2019 printed at the top, followed by your business, phone numbers and email address.<\/li>\n
      4. Tweet all your Twitter clients just once a month to ask \u201chas anything happened I should know about?\u201d This is one 20 second task once a month, reaching all Twitter-enabled clients in one go.<\/li>\n<\/ol>\n

        Finally, give yourself a valid and supportable reason to contact them every<\/span> year regardless. Here\u2019s how: do what you have heard about at a dozen conferences and buy a supply of classy document folders, brand them and help arrange each client\u2019s important documents in one. Every year you can call and ask them to confirm, for your<\/span> file record, where that folder is stored in their office or home. What a great service \u2013 you become their\/their family\u2019s \u2018disaster lifeline\u2019 when you do this.<\/p>\n

        After every one of these contacts, your follow up email must remind them that for the next year they must stay vigilant and notify you of any changes. By now you should have them well-educated on the kinds of triggers you need to be told about. Any future opt-in requirements then become just a formality!<\/p>\n

        Adapted with permission from a risk store Risk Read technical case study email. Additional material from Sue Laing\u2019s \u201c30 Things Your Clients Don\u2019t Know You Do For Them\u201d, presented at the risk store Annual Life Risk Forum in August 2011.
        \n<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

        This Insurance How To provides very useful tips to help advisers highlight the importance of ongoing communication between themselves and their clients. It also covers how to position annual reviews, and lists the kinds of triggers that can prompt an insurance review. [hr] At a glance Provided by: Sue Laing Business: The Risk Store Topics […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4517,4703],"tags":[4659,4558,4484,4620],"class_list":{"0":"post-24272","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-insurance-how-to","7":"category-reviews","8":"tag-annual-review","9":"tag-client-relationships","10":"tag-generating-leads","11":"tag-the-risk-store"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/posts\/24272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/comments?post=24272"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/posts\/24272\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/media?parent=24272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/categories?post=24272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/tags?post=24272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}