MAY THE 4TH BE WITH YOU

4 Key Lessons from Star Wars to guide your clients through these turbulent Times

With the recent outbreak of global pandemic COVID-19 bringing financial concerns to the surface alongside health worries, the situation has likely been taking its toll on your clients and your ability to support them as normal. So, as today marks May the 4th, we decided to take inspiration from the popular movie franchise Star Wars and have put together some important things to think about to help you and your clients get through these unusual times.

 

1. Be a Yoda, you must

Since the onset of Coronavirus, the world has seen a dramatic shift in a variety of industries, with financial services being one of them. 

The impact the pandemic has had on our industry will likely be felt for years to come, which is why it is more important than ever to be a trusted guide for your clients in such uncertain times.

The crisis is encouraging customers to take action by examining their current financial situation - cutting back on expenses they may deem unnecessary, potentially cancelling policies, and opting for cheaper policies using comparison sites instead.

Much like Yoda helping young Luke Skywalker realise his full potential, financial advisers have the power and abilities to play a key role in helping people through this crisis using one simple, yet very effective technique – conversation. Without your professional expertise and valuable advice, clients may not understand the details of a policy, and advisers need to be engaging with clients about whether products are meeting/will meet their needs.

You should strive to be their voice of reason in explaining why cheaper isn’t always better, as well as advising them to avoid making hasty/risky decisions during this period of time. Use your knowledge and share your guidance to help them find a product that suitably covers their needs.

 

2. Knowledge is power

It’s no secret that knowledge is a form of power, and this is especially true in the Star Wars universe: just ask Queen Amidala, who used her brains and diplomacy skills to rule over Naboo. Or even Emperor Palpatine, who turns Anakin to the Dark Side and into everyone’s favourite bad guy...Darth Vader (spoiler alert!).

The best way to guide your customers through these treacherous times is by demonstrating, and building upon, your knowledge of GI (General Insurance). In the wake of the Coronavirus outbreak, we have released our first CPD resource centre to provide business support to financial advisers in the form of useful tools, resources, and advice to drive your business forward despite current circumstances.

If your business has seen a decline in more traditional income methods, the resources can help provide you with an opportunity to generate income elsewhere, specifically by facilitating more conversations around GI and subsequently boosting your GI sales.

Our CPD packs consist of a multitude of helpful resources including e-books, whitepapers, webinars, and practical steps on what direct activities advisers can focus on following any decline in new business as a result of the pandemic.

With the aim of preventing missed sales opportunities and helping advisers become more confident and successful in their GI approach, not only will broadening your knowledge of GI help your business thrive during these uncertain times, the resources within our CPD pack collectively contribute to approximately 7 hours of your 15-hour CPD requirement. Two birds, one stone!

In the words of Qui-Gon Jinn “Your focus determines your reality” - access the CPD resources 

 

3. Connect (with the force)

With many of us now facing the consequences of lockdown and self-isolation, it can be more challenging than ever to feel connected, supported, and less alone with your endeavors as you navigate to a new way of living and working.

This is why we’re making it a priority to help our advisers in any way, shape, or form by providing you with extended support, resources, and guidance during this difficult time.

As well as supplying you with practical tools and advice within the Adviser Hub and release of our CPD pack, we also recently unveiled some brand-new advancements to our Quick Quote Tool. With these changes and improvements, using this force to generate Home Insurance quotes couldn’t be easier. 

Not only have we removed some of the previously required questions (meaning you now only need to know your client’s address!), you can now also tailor the quick quote with the optional extras your client wants within the tool itself. This means there’s no dark side to the quote as it will more accurately reflect your client’s needs. Discover all you need to know about our latest enhancements to our Quick Quote tool.

Broaden your horizons, join the Resistance and help us win the GI fight. We'll be right by your side all the way – the Chewbacca to your Han Solo if you will.

 

4. Improvise, Adapt, Overcome 

The ability to adapt in these times is essential, and Star Wars perfectly demonstrated this when we first meet Princess Leia, who is seen to be young and naïve. However, she turns out to be one of the greatest female film characters of all time, going from being captured and tortured by Darth Vader to leading the Rebels with the link and defeating the Empire.

The COVID-19 pandemic has accelerated the pace at which technology is being adopted in financial services, and social media is playing a key role in this explosion - particularly with the ways in which advisers are communicating with their customers.

Social media is proving to be a vital tool of communication during this pandemic, and many advisers are starting to take a multi-channel approach - increasing the ways in which clients can reach them. As well as online tools like social media, advisers are taking advantage of other technologies to reach out to their clients, including video calls. In many areas of our lives  video calls are now replacing face-to-face meetings and advisers should embrace video calling as well as social media, to keep the relationship with exisiting clients as well as attracting new ones.

With this in mind, our advice to advisers during this time is to adapt as best as you can to the current circumstances by setting up your business online - use social networks to advertise your expertise, but make sure you connect with customers in a way that feels personal, too. Don’t focus on just selling - share your experiences of dealing with the current situation.

The Force will be with you. Always.

There are lots of key lessons we can take away from Star Wars in a crisis like this, and we hope these suggestions are helpful and motivate you to power through.

May the fourth be with you!

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