In the world of insurance/financial services, it may have been the most anticipated title bout of the century. 2020 vs Routine.
No one can dispute the events of 2020 were the most disruptive in modern history. The fallout continues to infect (pun intended) businesses and consumers today. Any individual who asserts that they can fully explain what happened – and why – is delusional or misinformed, or both.
What is clear is business operations have been disrupted – permanently. Oh we may recover some portion of what we had in 2019 and prior, but this change is profound and many companies have already succumbed. We have yet to measure the full effects of the carnage.
Business owners learned, painfully, no one can predict the future but everyone can take steps to plan and protect what they worked so hard to build. They’ve heard that before from advisors and consultants across the country but few dedicate the proper amount of time and attention to address it. Thus, they take every punch directly in the mouth.
“Everyone has a plan until they get punched in the mouth.” https://www.sportskeeda.com/mma/news-everybody-plan-get-punched-mouth-how-famous-mike-tyson-quote-originate
Spectators across the country watched this battle royale play out nightly on TV. It was the most televised event of the year. But how many actually changed their behavior? Few. Who’s at fault? Business owners…sure they could have been more proactive. But when everything is burning (figuratively) around you, there’s little time to turn your attention to the task of “planning”. There’s no good reason to install smoke detectors when flames are coming out of the building. Once again. Too late.
How about the specialists who claim to be focused on helping business owners. That IS their business, correct? Sadly, few did anything to improve how they connect or how they drive these critical conversations. Forced into a remote model, their clients/prospects are more distant and distracted than ever before. The task is more difficult and not likely to improve any time soon. And let’s no forget the growing exodus of business owners and advisors alike. Nobody is getting any younger. “Ladies and gentlemen. Experience has left the building.”
Industry folks understand the persistent problem; they recognize the size of the opportunity as well. There’s no shortage of training for exit planners and the like. There are countless INSURTECH conferences and associations focused on advances in technology to make improvements. Buckets of VC money are pouring into disruptors’ pockets. Aggressive aggregators suck up agencies hoping to preserve that stream of recurring revenue.
But where’s the solution for the human element. What technology can create (and communicate) empathy? Back-end processes can be streamlined. Made more efficient. But advisors need to drive conversations. Differentiate. The product conversation remains a dead end.
If you can’t change behavior, nothing will change. Advisors must bring the compelling conversation to the client.
People like to deal with people. A Google search is not a solution. Just ask any business owner. They won’t look for an advisor on the internet and even if they did, none of them would devote any time or energy to qualify the professional. Even the ones who paid to appear at the top of the first page. Advisors need to focus on the conversation. Product knowledge is important, but it’s secondary.
Although 2020, put up an impressive fight. Bloody, sweaty, and incessantly punching in every direction… It’s a unanimous decision. Routine remains the undisputed Heavyweight Champion of the World. Was it a knockout or TKO?
Doesn’t matter. ROUTINE holds the belt and is parading around the ring. Arms held high.
Drop the mic.
selling technologies 