Clients skeptical of insurance brokers

This article originally appeared on citopbroker.com.

The public perception of insurance brokers was one of the common themes discussed at the second annual Top Broker Summit.

The overwhelming consensus from panelists was that insurance brokers don’t have the best reputation—and it’s time for this to change.

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“As an industry, we could really improve how we’re seen by the general public,” said Christine Lithgow, president and CEO of Aon Risk Solutions Canada. “We’re still seen as insurance salesmen.”

Brokers are also not valued as highly as other business advisors.

“In the industry today, it doesn’t feel like people normally equate us to be on par with their lawyers, or maybe their accountants,” said Martin P. Hughes, chairman and CEO of Hub International.

Read: Trust in financial industry declines: survey

But, events like Superstorm Sandy and the growing appreciation of risk at the corporate level offer brokers new opportunities to demonstrate their true value.

And this is why summit delegates focused on how they can better their service and grow their businesses.

They heard from industry leaders and clients on what needs to be done to improve their profiles and take top producers to the next level.

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Check out the links below, to download a couple of the speaker presentations:

More than Just Insurance, presented by Joe Micallef, CEO, FIRST Insurance Funding of Canada

Managing Your Greatest Risk: A Demographic Perspective, presented by Richard Loreto, president, R.A.L. Consulting Limited

Also read:

Arlene Dickinson talks brand value

How to rein in clients

Netting new clients

Plain language increases client satisfaction

Insurance for wealthy clients

Are your clients’ kids protected?

Did Neil Armstrong outsmart life insurers?