Monday, March 23, 2020

Underwriting, Selling, and CV-19 [UPDATED]

We've been discussing some of the insurance issues which agents, companies and clients are facing while the Pandemic continues. Obviously, people still need insurance, and of course a lot of policies are negotiated at the proverbial kitchen table. But what happens when the kitchen table meets 'social distancing?'

Well, our friends at Mutual of Omaha have some suggestions:

"We encourage you to also do your part to slow the spread of the coronavirus. You're likely rethinking how you can keep yourself and others safe in a business that's built on relationships with people and, most often, face-to-face interactions ... We strongly encourage you not to conduct in-person client meetings and we should all be prudent to exercise an abundance of caution."

And they go on to list some reasonable alternatives:

o Opt for video meetings or phone calls when possible.
o Avoid in-person meetings if either you or another participant is at risk.

They also suggest contacting folks in advance, and avoid meetings where any of the participants aren't feeling well. And they also suggest - and I think this is particularly helpful - that if one does "proceed with an in-person meeting, please document the client's agreement to meet ... This will be key if there are any questions later regarding meetings or participants."

Or, as our friends at Issue Insurance call it, 'Professional Distancing.'

I like it.

All of these strictures apply, of course, to any insurance sales opportunity, from a simple auto policy renewal to complex Long Term Care insurance reviews.

And remember Sgt Esterhaus' admonition.

 Of course, Professional Distancing just got a lot easier for us folks in the Buckeye State.

UPDATE: We've also just learned that we're actually considered an Essential Service:

In this order, the business of insurance falls under EssentialBusinesses and Operations. This means that you can continue to operate but mustdo so under the Director of Health’s operating requirements.

How nice for us.
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