Often when you reflect on those clients that decided they didn’t want to take out protection after being offered your professional advice, it can start to feel a little personal.
Almost like a relationship that perhaps isn’t quite working out…where you start to think ‘is it you or me’?
Not wishing to start a new line in marriage counselling, perhaps however we can start to think about how to at least ‘freshen up’ that relationship with clients and recreate that protection ‘spark’.
Freshening up
One element that Consumer Duty brought us in 2023 was a prompt for you to check in on the relationship you hold with your clients. To not only act in good faith, but to think more about how you interact with them; how you support them; and that they understand the situation you are discussing.
When Consumer Duty talks about the ‘design of products and services’ as one of the four outcomes, it is easy to think that relates to the creation of products (the manufacturer / insurance provider). However, even as ‘the distributor’ this outcome also relates to you and your business. You create the advice service that you offer your clients and how you manage that client relationship is within your control.