The importance of adaptability in the insurance industry - with Mark Hicks and Richard Miller of Arden Insurance

<p>Are you looking to expand your client base? Are you struggling to retain a balance between offering niche, specialist policies for specific problems, and more generalized insurance solutions? Would you like to venture into educative marketing for your brokering firm?</p> <p>In this episode, we’re excited to once again be speaking with Richard Miller and Mark Hicks, senior team members of Arden Insurance Brokers. In conversation with Boston Tullis’ Sarah Myerscough, they discuss the importance of adaptability in the insurance industry, both to acquire new clients and to retain your current customer base. This can be achieved by a bespoke assessment of individual clients’ businesses, in order to acutely identify their particular needs, and accordingly offer insurance solutions to counter any potential problems or risks.</p> <p> </p> <p>Quote of the Episode</p> <p>‘The days of an insurance broker just selling insurance policies are long gone’</p> <p>Richard Miller and Mark Hicks suggest that in order to compete in the current insurance market, you need to deviate your focus from purely supplying policies. Indeed, the role of the insurance broker has expanded substantially throughout the past decade, to encompass a broader, problem-solving approach. By offering solutions catered to the particular problems facing each individual client, you can expand their own awareness of their business’ needs. In doing so, you can solidify both ongoing and new client relationships, built upon a strong foundation of trust.</p> <p> </p> <p>Key Takeaways</p> <p>Clients approach insurance brokers to simplify the process of insuring their business or property. Some clients may be inclined to look for the cheapest cover possible, but ultimately, this may be harmful if they ever need to make a claim. In order to avoid the detrimental consequences of insufficient policies or cover incongruous with a client’s needs, it is essential to fully understand the wider needs of the client. By evaluating their business as a whole, you can