Navigate the current market through insurance shopping

  • Insurance expertise
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Over the years, it has become much harder to navigate the experience of shopping for insurance given rising insurance rates, increasing accident frequency despite safer vehicles and climate-related claims in some geographical locations. In some states, it has become challenging to obtain insurance coverage that adequately protects against risks associated with hurricanes, flooding and other natural disasters as many carriers are pulling out of these higher-risk areas. The consequence: consumers are shopping for competitive policies and coverages that meet their needs.

In this quickly changing landscape, strategic partnerships have become integral to driving sustainable growth and fostering innovation. Strategic partners are companies working together to address each other’s clients' challenges. Such a partnership will often include value-added services to effectively address customers’ unique needs, especially as they relate to each company’s products or services. Tailor-made insurance offerings for clients of real estate agents are one example. VIU by HUB, who has partnered with auto, educational and real estate companies, is a prime example of a strategic partner. VIU by HUB’s insurance experts help better serve partners’ clients through finding comprehensive coverage options and offering neutral advice. By facilitating a transparent marketplace and providing expert guidance, VIU by HUB enables strategic partners and their customers to make well-informed decisions amidst the complexities of the insurance marketplace.

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Providing customers an optimal insurance shopping experience

When working with an insurance partner, it’s important to make sure that your partner provides consumers with a transparent and informed insurance shopping experience. The following are benefits customers look for when seeking insurance guidance:

  • Choice – One of the main reasons to shop for insurance is to have options. Most insurance agents only offer coverage from a single carrier – unlike VIU by HUB which offers quotes from many carriers. By exploring different insurance options, consumers gain access to a wide range of carriers and coverage choices, helping them find the best fit.
  • Expertise – Customers usually are not insurance experts, so they need education throughout their insurance quoting and buying experience to help them make well-informed decisions. They may rely on real estate agents, auto dealers or other trusted associates for referrals to helpful insurance brokers.
  • Transparency – Customers need a transparent marketplace to explore various quotes and gain insights into available coverage options at the right price point. This level of transparency and accessibility is a significant selling point for those looking to make informed insurance decisions.
  • Ease of use – Using an insurance company, or brokerage, who has partnered with a company they are already using to make a large purchase makes their insurance-buying experience seamless. Integrating insurance shopping into an existing buying journey helps to strengthen customer relationship with both the insurance company and the referring company.

By emphasizing these benefits, you can effectively educate consumers on the best way to go about shopping for insurance. Beyond the usual benefits offered by most insurance partners, strategic partners like VIU by HUB help support companies and their consumers to personalize their coverage according to their needs and priorities using a variety of insurance carriers and coverage options. With VIU by HUB, customers are able to get a quote digitally and have access to state-licensed advisors for neutral advice and further personalization. This ability to compare and select the best-fit plans leads to higher satisfaction and a stronger sense of control, which also builds consumer trust and confidence.