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In today’s episode of Agents Influence podcast, Jason Cass chats with Ed Higgins, owner of Thousand Islands Insurance Agency. Ed Higgins has been working on a plan to alert state regulators to the fact that online and TV insurance commercials are misleading and are not a true representation of the policies they are selling. . Higgins, agent since 1974, who has been on the cutting edge of technology for decades, also talks about agents need to do to provide more value and a better experience to customers than the primary providers.

Show Notes:

  • Who is Ed Higgins?
    • He’s an Android user.
    • Firm believer in hard work, customer focus and technology contributing to success.
    • He believes in winning.
  • Why adding value is so important.
    • The business is a valuable contribution to the economic framework.
    • It’s important to be an active part of the claims process.
  • What Ed is working on before he retires.
    • There is a growing premise that all insurance is the same and you should just find the cheapest option.
    • Agents need to work strongly with the insurance providers to provide them with a better experience.
    • Consumers don’t understand enough about coverage, they’re just focused on price.
    • The consumer is not being protected by regulators.
  • How to develop insurance programs for people.
    • We need to change as the world changes, but people will always need individual counseling on their insurance needs.
  • We are asking for several things
    • A disclosure that says that all policies are not the same and warns the consumer.
    • It’s important that the full disclosure details of your coverage should be disclosed.
    • Regulators should put policies online so consumers can view them and compare/contrast.
  • How to understand your competitor.
    • Try to understand what they do, find out how to create value to compete.
    • The analysis resource that will soon be available to agencies.
  • Not only are people not being educated, but they’re also being deceived.

3 Key Points:

  1. The value of the client is more important than the value of you.
  2. Agents need to work directly with insurance providers to provide their customers with a better experience.
  3. Contact every thought leader you know with a hand in the industry to sign on and endorse the document that’s trying to get things done.

Key Quotes:

  • “You have to take the time to explain things to a new client, that’s where technology becomes important.” – Ed Higgins
  • “A quality insurance program is not a soundbite.” – Ed Higgins
  • “As the world changes, we need to change with it.” – Ed Higgins

Resources Mentioned:

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