Effective risk value propositions Kevin Canning June 2013
Show me the value!
Challenges?
The view from here
The big challenge
The standard core risk proposition Contact us if you need a claim, we'll review once a year/ as needed 3 We won’t charge you anything for advice on top of your premiums 2 We will find the best product for you1
Opportunities
Two strategies Engage existingEnlighten new
Four steps Ask yourself the pricing question Step 3 Review your service proposition Step 2 Unpack your value Step 1 Consider new territories Step 4
Step 1: Unpack your value
Explore all the things you do I
Step 1: Unpack your value Explore all the things you do Cross reference with findings from your peers III
Specialisation Estate planning Someone to speak to Education Personal skills Suitability Field underwriting Expectation management Structuring Access to other professionals What’s the value of a risk adviser?
Step 1: Unpack your value Cross reference with findings from your peers Explore all the things you do III Validate your understanding III
Two options Client SurveyAsk at review
Step 2: Review your service proposition Think in the context of your target client types I
Step 2: Review your service proposition Think in the context of your target client types I Review your client communication II
Claims Assistance Guarantee
Step 3: Ask the pricing question
Step 4: Consider new territories
In summary Great time to build on future success Being able to articulate value leads to engaged existing clients and enlightened new Four steps to developing your risk value prop Unpack your value Review your service proposition Ask yourself the pricing question Consider new territories
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