When choosing an insurance company, your first choice is often to go with a specialist or a generalist. Generalist agencies cover all types of business and organization, whereas a specialist focuses on a single industry or a niche. Though generalists may offer a greater breadth of services, it is specialists who will often deliver higher quality services.
Improved Focus on Customer Service
A specialist agency is usually going to be smaller or privately owned. These businesses must rely on their reputation with their customers and high customer satisfaction; consequently, they have better customer service. Large, general chains can bring people in on a national basis, and often focus more on procuring large volumes of clients rather than ensuring that they are happy. If you want conscientious customer care, a niche market specialist is usually better.
To make the most of their resources, niche market brokers will be more open to technology. They will invest in digital marketing, research newer tools, and consider working with online ranking or agency management systems. With better technology, they are able to get better results, including increases in efficiency and better customer service. When it comes to insurance, better technology can often mean easier ways to manage accounts, check on coverage, and make claims.
A Personal Relationship With Clients
Specialists are able to achieve better retention rates by developing personal relationships with clients. With larger, generalist agencies, clients may find themselves sidelined or feel as though they aren’t important to the agency. Comparatively, a specialist agency will focus more on developing out their relationships with each client, and ensure that they are well taken care of
Working With a Stronger Work Force
Specialists are highly knowledgeable within a specific area of coverage and are consequently able to provide better, more in-depth information. While generalists attempt to be a jack-of-all-trades, specialists focus primarily on their niche. Clients can get better, more current information from specialists, who are up-to-date on changes within the market and are able to predict future trends.
A restaurant isn’t going to have the same insurance needs as a nonprofit. Not only are specialists able to develop more personal relationships with their clients, but they are also able to operate as a more knowledgeable, high authority resource within their specialization. Specialists are able to see whether the dynamics of a market are changing, whereas generalists may not be able to identify these changes because their operations are so broad in scope.
Are you interested in learning more about the differences between specialist agencies and generalist agencies? Does your business need to consult with a specialist regarding its insurance needs? We can help! Contact us today at DeVenne Insurance. For updates sent to your inbox make sure to sign up for our blog today.