Creating Value Around the Insurance Transaction

I got a email from Progressive insurance company the other day. They were offering premium payment suspensions or deferrals for anyone who was dealing with damage from Hurricane Irene. To me this is an incredible marketing strategy. It creates value for the customer and it is remembered and appreciated. This shows the power of the big insurance companies and their ability to market. All of us in the insurance business try to find ways to create value around the insurance transaction, but it looks like Progressive has thought it out. My hat is off to them for this. Smaller regional companies need to be aware and spend more on creating value through marketing strategies. If not you will contine to lose market share to the big boys. Until next time be careful out there and know your risks. K

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