As a business owner, I get offers from companies every day claiming that my business would benefit from their products or services. They tend to promise that they’ve got just what my company needs.
One thing I’ve learned as a business owner is that not every business, service, or product is a good fit for our business. Sometimes the service or product doesn’t quite match our needs. And honestly, sometimes we’re not the ideal client for their company.
As an insurance agency owner, my time is a hot commodity! That said, I certainly don’t want to give my time to someone who isn’t going to be able to help me and my business.
I’m assuming that as a business owner or leader like me, you have a lot on your plate. And unless making a switch from your current insurance program is going to result in significant savings, investing the time to work with a new insurance agent isn’t appealing.
With that in mind, at Baily Insurance Agency, we’ve developed a series of three meetings to determine if we can help your business reduce your insurance costs and put into place an aggressive insurance plan that will lead to long-term savings.
At Baily Insurance, unless we’re able to help you, we don’t want to waste your time!
The Baily Risk Management Blueprint
To maximize your time and assess if we can make a difference in your insurance program, we schedule three meetings with you – our Baily Risk Management Blueprint Process. In this process, we create an insurance “blueprint” specifically for your business.
This “blueprint” is customized to your goals and objectives and analyzes the insurance coverage and practices you already have in place. Through this process, you will gain a clear picture of what we can offer your business before deciding to move forward with us in the insurance quoting process.
Here’s a look at what those three meetings entail.
#1 Introductory Meeting
The goal of this meeting is to determine if we are a good match for your business. We recognize that not every insurance agency will be a good match for you.
For example, depending on your company’s industry, you may need specialized insurance coverage only available through certain insurance companies. If an agent doesn’t have access to those companies, they will not be a good fit for your company.
Also, many companies prefer to work with a local agent or a friend or relative. That agent will not be a good fit unless they have the expertise to write insurance policies specific to your industry. Without in-depth knowledge, you will have gaps in your insurance coverage. Without a thorough knowledge of the coverages specific to your industry, an agent will not be a good fit for your company.
We also understand that you may have a long term relationship with your current agent or that you feel your current insurance policy is meeting your expectations.
Our priority is to take an honest look at your current insurance program. We act as a second pair of eyes to make sure that you are getting the care and coverage that you are paying for.
What will you gain from this meeting?
At this meeting, you can expect:
- An opportunity to express any concerns you have about your current insurance program
- A thorough explanation of our process and philosophy
- Examples of other businesses similar to yours that have benefitted from our help
Who should be present at this meeting?
Ideally, anyone who will be involved in making your insurance program decisions should be present at this meeting and especially any business owners or board members who could be ultimately impacted by these insurance decisions.
How long will this meeting last?
Because this first meeting is only a brief introduction, it typically lasts between 15 and 30 minutes.
When will you schedule the next meeting?
We usually plan to get together again 1-2 weeks after this initial meeting. This gives us enough time to coordinate with all those who need to be present for an effective Discovery Meeting.
#2 Discovery Meeting
If you determine our agency may be a good fit for your business, we will schedule a second meeting, usually one to two weeks after our initial meeting.
What will you gain from this meeting?
Through this meeting, we will try to discover:
- Your goals, objectives, values
- Areas your current insurance program could be improved
- Compare the best practices for your industry with your current insurance program
- Uncover any landmines in your current insurance program – look for what is currently covered and anything that might not be covered
Who should be present at this meeting?
Any key decision-makers about your insurance program – CEO, CFO, President, anyone who will help with the final decision about your insurance program
How long will this meeting take?
You can expect this meeting to take between one and two hours.
What will you need before the next meeting?
To assess your current insurance program and create a robust insurance plan for your future, we will need some information about your business, your current employees, your current insurance policy, etc. We will provide you with a checklist that outlines what information will best help us prepare an insurance blueprint for you.
When will you schedule our next meeting?
Typically, it takes us about two weeks to gather all the information we need to give you a complete analysis or your current insurance program. We commit to meeting with you about two weeks after the Discovery Meeting.
#3 Blueprint Meeting
After thoroughly examining your goals and values along with your current insurance needs, we will create a recommended course of action for you.
What will you gain from this meeting?
- An evaluation of strengths and weaknesses in your current insurance program
- An analysis of the effects your current insurance program might have on your business
- A blueprint of steps you can take to strengthen your insurance program – steps that will lower your rates, protect you from litigation, and create a safety culture in your business.
Who should be present at this meeting?
Again, it’s good to have all those present who help make decisions about your insurance program. Insurance is a complicated business, and we know that you will have questions. We want the opportunity to answer everyone’s questions.
We also know that it may be hard to relay second-hand what you learn from this meeting. Having all the decision-makers present will help guarantee that everyone understands what is communicated.
How long will this meeting take?
To give you a thorough explanation of our findings and recommendations, you can expect this meeting to take one hour.
What happens after this meeting?
After this meeting, you will have a complete analysis of your insurance program along with a recommended course of action to begin a long-term insurance plan. The information you receive from this meeting is yours to keep.
After the meeting, if you would like to engage with us to work on your insurance program, we will team with you to start the quoting process and engage in lowering your premiums, creating a culture of safety, and helping you protect your business.
Ready to dive in and analyze your current insurance program?
For 3 to 4 hours of your time, your organization will walk away with an in-depth analysis of your current insurance program. By digging in deep into your current insurance policy and your company’s practices, we will identify red flags – potential risks that your current policy will not cover and other policies and practices that leave your company open to potential claims.
As an agency, we value transparency. Working through our process, we will show you where you “stack up” among others in your industry.
At Baily, we effectively work with our clients to lower their premium rates, manage their claims, mitigate future losses, and create a safety culture in their workplaces. We are enthusiastic about partnering with businesses that want to take an active role in their insurance program.
The clients who get the most from working with us have:
- At least $100,000 in Property and Casualty premiums
- At least $50,000 in Workers’ Compensation premiums
- At least $250,000 in Employee Benefits premiums
If this describes your business, we are confident that we can help you. We are ready to partner with you to create a customized insurance plan for your business!
