How Do Insurers Reach Customers?

The various roles of insurance producers include:

• Underwriting, claims adjusting, and risk assessment

• Sales, underwriting, and claims handling

• Sales, customer service, and claims processing

• Sales, risk management, and policy issuance

Fill in the blank: Producers are the people customers most closely associate with the insurer’s promise to ______ them for a loss.

• compensate

• contact

• charge

• ignore

Why are producer sales important?

• They are not essential for the agency's success.

• Sales are essential for the success of the agency, brokerage, or insurer, and for the producer's personal success.

• Sales are only important for the producer's income.

• Sales have no impact on customer relationships.

Fill in the blank: Sales are the byproduct of the producer’s relationship with the ______.

• customer

• product

• market

• supplier

How do risk management reviews help build producer/customer relationships?

• By ignoring customer concerns

• By helping customers address their risk management concerns

• By focusing only on sales

• By avoiding loss reviews

Fill in the blank: A review of previous losses, or a 'loss run,' can guide the producer. Loss runs include, at a minimum, lists of losses and their ______ cost.

• total

• estimated

• average

• future

Two basic ways producers build strong relationships with customers on a day-to-day basis are:

• Providing excellent customer service and maintaining regular communication

• Offering discounts and ignoring customer feedback

• Reducing product quality and increasing prices

• Limiting product availability and avoiding customer interaction

Which of the following are ways a CSR can add value, in addition to selling products?

• Providing excellent customer service, offering product knowledge, and resolving complaints

• Only focusing on sales targets

• Ignoring customer feedback

• Delaying responses to customer inquiries

According to the passage, what is the first step in the risk consultation process for producers serving as risk consultants to their clients?

• Compare actual results with the standards

• Establish standards of acceptable performance

• Correct substandard performance or revise standards

• Eliminate all risk management techniques

Fill in the blank: Producers try to keep an eye on changes to their _______ as the combination of insurance and other risk management techniques they use may prove to be ineffective or become obsolete.

• loss exposures

• profit margins

• customer base

• marketing strategies