Much has been made of the fact that traditional commercial insurance brokers are losing space in the insurance market in favour of online providers, with supporters of this theory pointing out that these online outfits tend to offer more affordable rates and better conditions than their competitors.
There is, however, something to be said for the opposite view as well. There are a number of reasons the why many clients choose to actively seek out traditional, high-street commercial insurance brokers rather than go online. The article below lists three of these reasons.
Value creation is the main reason customers continue to prefer commercial insurance brokers with physical locations over their online counterparts. Insurance policies, particularly commercial, are a complex field, and most men and women cherish and appreciate the help commercial insurance brokers provide them in making sense of this complex field. This type of coaching can hardly be achieved through online brokers, and customers who are aware of this tend to prefer companies with actual, physical offices.
In line with the previous entry, many customers enjoy the personal attention commercial insurance brokers working for physical offices dispense them. High-street offices tend to be run by smaller operators, and these are generally happy to put in the extra time and attention to ensure a customer leaves with the insurance plan best suited to them.
Finally, customers appreciate the opportunity to sit down at length with their commercial insurance brokers and discuss potential ways to tailor their insurance packages so that it fits their exact needs. Once again, this is not an option most online companies offer, which contributes to give high-street brokers the edge as well.
It should be clear, then, why despite the rise of online commercial insurance brokers, so many customers continue to prefer agencies who offer physical customer assistance at their offices!