Insurance is well known as something you buy, hoping you never actually have to use it. For Brian, a seasoned insurance broker with nearly eight years of industry experience, the field is dynamic and constantly evolving. We sat down with Brian to discuss his nearly decade-long career in the insurance industry. Here is what he said when asked for his take on the trends, observations, and misconceptions within it.
Experiences and Lessons as an Insurance Broker
When did you first feel confident in your understanding of the insurance industry?
After nearly eight years working in the insurance industry, it is fair to say that Brian has a pretty in-depth understanding of the industry. So, we asked when he truly felt like he understood the industry. Brian believes that understanding arrives when the frequency of his daily questions slows, but not completely stops. He says that “once the frequency slows down, and you can comfortably handle your day-to-day, then you fully understand the business.”
However, he cautions against the idea of ever truly “knowing it all.” Since the insurance industry is constantly evolving, he believes that if a professional stops asking questions entirely, they are no longer growing. He says, “If you ever truly stop asking questions, you’re probably not evolving. So I think it’s still important always to ask questions, no matter what part of your career.” In his view, continuous curiosity is essential for success at any stage of a career in the insurance industry. Moreover, just as the industry is constantly changing, a broker should be continually evolving with it.
What advice would you give to someone entering the insurance industry?
When asked what advice he would give to someone new to the insurance industry, his best piece of advice is very simple, yet comprehensive: there are no shortcuts. Remember that the steps you take to become a broker are each a crucial building block after years of working in the insurance industry. He remarks that even though technology and modern training models can help new workers in the industry, they should take the time to go through every single step. He says:
“You have to build up those fundamental habits that only come with time and experience. Take your time, be patient, and do what needs to be done.”
Bundle All of Your Policies for Maximum Savings!
Speak with an isure broker to find out how.
How would you approach a client who wants cheaper coverage at the expense of the right protection?
Next, we asked him how he would navigate a situation in which the client may want coverage that is not the right amount. He starts by saying that it is a delicate balance, and acknowledges the difference between the customer always being right and the customer knowing what they want. For example, when a client insists on a stripped-down, liability-only policy to save money, Brian says that, as a broker, it is his job to explicitly outline the safety nets they are giving up. He goes on to explain some coverage gaps they should be aware of. He says:
- Hit and runs or at-fault accidents (requires collision coverage)
- Single-vehicle accidents
- Glass damage, vehicle theft, or fire (requires comprehensive coverage)
- Rental vehicles during the active claims process
Brian continues to explain that once these immense gaps are clearly explained, many clients change their minds, realizing that the cost of extended coverage is worth the investment.
The Insurance Industry
What trends in the insurance industry should customers pay closer attention to?
When looking at recent industry trends, Brian highlights the ongoing crisis of high-theft vehicles as a major driver of rising auto insurance premiums. Though the situation has stabilized slightly over the past year, it remains a severe issue that heavily penalizes certain vehicle models. He further notes that if your vehicle is classified as high-risk for theft, your insurance will be more expensive. So, here are a few recommendations he has:
- Do your research: Find out which vehicles are at the highest risk of theft in your area.
- Invest in anti-theft devices: Tags, wheel locks, steering wheel locks, etc.
- Reconsider vehicle models (if applicable): Avoid high-risk models and opt for lower-risk vehicles.
What is the most common misconception about the insurance industry?
In his day-to-day work, Brian frequently encounters a widespread misunderstanding regarding Liability Only coverage (often referred to as PLPD), particularly for auto insurance. Many clients mistakenly assume that liability coverage is designed to protect the other party in an accident. Brian clarifies that under the current system, every driver actually carries their own insurance policy to cover themselves. He goes on to propose this scenario:
“If the other person doesn’t have insurance but you do, and you get into an accident, you are covered under DCPD (Direct Compensation-Property Damage). You don’t have to worry about them; they have to worry about themselves.”
Ultimately, he stresses that drivers do not need to worry about the other party’s coverage, only about what protects them.
Drive with Confidence
Request your free car insurance quote now and get the coverage you deserve.
What has changed most in the insurance injury since coming into the business eight years ago?
Reflecting on his years working in the insurance industry, he notes the biggest shift has been the advancement of workplace technology. He says that “for the most part, the core insurance product has been the same forever. But the tools have made navigating the job much easier.”
The rise of AI and centralized digital resources, such as Pro Navigator, has streamlined the quoting process.
“Instead of manually flipping through physical books or endlessly scrolling through massive PDF files to find an underwriting rule, we can now search a single digital hub. It has made our job quicker, allowing us to get answers and quotes out to clients much faster.”
Working at isure
Why should customers trust isure with their insurance needs?
Finally, we asked Brian about isure and why customers should trust us with their insurance. He attributes our success to the staff’s experience and expertise. Brian points to the deep well of collective experience within the office. The brokerage boasts a staff with over 30 years of industry experience, rooted in the company’s previous iterations.
He emphasizes that our core model “is based on making things friendly and easier, and we truly stand by that.” He continues to say that “insurance isn’t a glamorous industry or product. Ideally, you hope you never have to use it.” Brian notes that while a lawsuit or a major claim is stressful, having an experienced, empathetic broker helps make the best of it.
What can we take away from Brian’s Interview?
As Brian notes, insurance is not necessarily the most glamorous product to sell. However, after years of working in the insurance industry, this is his main takeaway. He learned that:
“The luckiest clients are the ones who pay for it and never have to use it. But when a crisis does hit, the value of an experienced broker becomes undeniable.”
By prioritizing deep industry fundamentals over shortcuts and client education over quick sales, Brian and the heavily qualified team at isure continue to prove that even the most stressful situations can be made easier when navigated with the right advocate in your corner. So, if you are looking for a quote or have any questions about your coverage, listen to Brian and contact us today.
Dario Battista, the Founder and CEO of isure, is no Read more
Wondering if you should use an insurance broker in Ontario? Read more
Wondering if a career in the world of insurance is Read more
