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Customer Service Focus Property awareness Completing a personal property inventory with clients builds goodwill, reduces coverage disputes after a loss By Donna Glover, CIC, CISR If your home were totally destroyed, would you be able to remember everything that was inside? Do you think your customers would be able to recall all of their personal property? Probably not. So it’s a good idea for your agency to utilize a personal property inventory list. “Our lives are busy enough without adding another chore to the list!” This is probably the first thought your customers will have when you mention taking the time to complete a personal property inventory of their home. They do not think a disaster could happen to them, so why worry about it now? As a customer service representative, you should be prepared to respond to this type of logic because your customers need to understand how important the personal property inventory is to them. Lots of plusses If your customers do have a claim, having an inventory of their home on file can save time and frustration, and also: • Ensure that there is proper coverage. • Help to file an accurate and prompt claim with proper supporting documentation. • Reduce anxiety by having receipts and information easily accessible. • Assist in establishing the replacement cost of the property. Perhaps the most important reason for doing a personal property inventory is to ensure that there is proper coverage. By using an inventory, your agency will be able to provide superior service by advising your customer of coverage limitations, endorsement availability, or deletion of certain coverages that might be needed. It’s important to have a systematic process to identify any property exposures that your customer may have, whether it is for the solicitation of new business or the renewal customer. Standard agency procedures during policy renewal cycles may include a step-by-step procedure for updating information and discovering changes in the customer’s property. A customer service representative should ask probing questions to ascertain important facts about the customer, such as: • What would it cost to rebuild your home? • How many other structures are on the property? • Do you own any other dwellings or property besides your residence premises? • Is there any business personal property on or off premises? • Do you have any recreational vehicles such as a snowmobile, golf cart, ATV or watercraft? • Are there valuable papers such as monies, securities, stamps, or legal documents that need increased limits? • Do you have a personal computer? • Do you have jewelry, cameras, or golf equipment? Off to a good start For the customer service representative working with a new personal residential customer, a systematic process for identifying property exposures is often accomplished with an interview driven by checklists and questionnaires. During this time, a CSR should give the customer a personal property inventory, or use the customer’s carrier Web site if it has an electronic personal property inventory checklist. Set up an appointment to pick up the completed the form. Having a deadline will encourage the customer to complete the form in a timely manner. If the customer is unwilling to schedule an appointment, suggest that they complete the form and contact you to discuss their coverage and then set up a follow-up reminder for yourself. There is always more than one way to attack a problem. You can now take advantage of software that is available for keeping up with personal property, thus making it easier to maintain up-to-date records. Some of your insurance carriers have software that provides a room-by-room record-keeping system and allows inserts for photos, receipts, invoices, and warranties. Because this type of technology makes updating quick and easy for your customers, they are motivated to complete the personal property inventory. What about those customers who refuse to use the available technology? Something is better than nothing in most cases. Even if the insured takes the time to do only a simple version of a personal property inventory and discusses the list with you, you are moving in the right direction. As the CSR, develop your ability to probe for more information if necessary. Do not be afraid to ask questions of your customer. This is a great way to develop your cross-selling opportunities and take care of your customers’ needs. Here are some simple personal property inventory steps that agency clients can use: • Make a list of personal property items in a notebook. • Save receipts and photos and put these in a file. • As more items are purchased, add to the list and check with the agent’s office as to proper coverage. • Determine where to store the personal property inventory list (safety deposit box or another location besides the residence premises). An abbreviated sample of a personal property list for insurance purposes is shown above. The customer service representative could use a copy of this form to record the dates that these items were discussed with the customer and scan the list into the customer’s personal file. Another way to help your client is by filing a prompt and accurate claim with proper supporting documentation. This fast service reduces anxiety for the customer and also helps establish the replacement cost of possessions, subject to the policies. Conclusion Being organized with personal property inventory can be a benefit for the agency and your customer. Providing a home inventory has many rewards for the agency, notably making sure that the agency can insure its customers properly. It also relieves those anxious moments when your client is upset after a loss. If customers can immediately get the support documents that are needed for the claim, such as receipts, manuals, etc., then their anxiety is relieved and goodwill is created because they will recall that your agency suggested this inventory system to them before the loss. Stand out from your competition and strengthen your customer relationships by emphasizing how the personal property inventory can be an added value service. Limit E&O claims by requiring CSRs to find out what personal property your customers have. With this information, you can suggest proper insurance protection for your clients and retain their business. * The author |
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