Ep. 202: Inflection Point: Redefining Your Role in the Insurance & Financial Services Industry When the Existing Model No Longer Works

by | Feb 2, 2021

Troy Korsgaden is a sought-after financial services and insurance consultant. His company, Korsgaden International, specializes in agency building, global marketing, technology strategies, and distribution for some of the world’s largest financial services companies and insurance carriers. Troy is also the author of many books, with the most recent one titled Inflection Point, where he guides business owners on how to adapt their insurance or financial services agencies in an ever-changing market and technological economy.

Troy joins us to discuss how the pandemic has exposed old business models and how creating new business models let small, forward-thinking businesses thrive. He discusses how the industry has been moving away from the customer-centric approach, and how 2020 brought them all back to this core principle.  He explains how companies can flaunt their value over those who offer the cheapest prices. Troy also shares why the best companies are trying to innovate on a daily basis and why it’s important for businesses to frequently re-tool the services they offer.

“You need to meet customers where they want to connect – not where you want them to connect.” – Troy Korsgaden

What you’ll learn:

  • The big changes that happened in the industry since 2020.
  • Why businesses need to ditch the “old” business model to move forward.
  • How companies determine where they can get in touch with their clients.
  • New technologies and knowing what and how to upgrade.
  • Making clients see that your company offers more value than your competition.
  • How frequently should we re-tool our services?
  • Deep diving into Open Platform Solutions.
  • Why customers aren’t always looking for the cheapest price.
  • What it means to offer unrivaled service.
  • Why you don’t want ‘generalist’ employees.
  • Constant re-tooling and how it will boost your market value.

Connect with Troy

Key Takeaways:

  • You have to give great service, great advice, and then you earn the right to offer solutions.
  • Customer-First is only true if you go to where the customers go, and not be a company that tells them what to do and how to best communicate with you.
  • Any company can have great first impressions, but only few will make it last.

 

Resources Mentioned:

 

This episode was brought to you by

Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.

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