In-person contact remains part of the equation in insurance value-chain

iTOO

For businesses whose models are constructed around relationships, face-to-face interaction remains extremely important and will always remain part of the equation for continually building stakeholder relationships. 

This is the driving principle behind specialist risk insurer iTOO’s upcoming roadshow that will see a specially selected team of iTOO specialists meeting with more than 1 000 insurance brokers across the country. 

iTOO MD Justin Naylor explains that the roadshow will take place over a period of four to five weeks and will take the team across several South African provinces for sessions in Johannesburg, Pretoria, Cape Town and Durban. “During the roadshow, our team plans to interact with more than 1 000 brokers, who are a very important part of the insurance value chain. We will address their concerns, introduce them to changes in our business and familiarise them with new products,” says Naylor. 

“This is part of our continued efforts to build strong relationships with our most important stakeholders. We have decided to meet with them in person because relationships are strategic to the success of the business.” 

Leveraging digital platform 

Since the outbreak of the COVID-19 pandemic, businesses have had to work differently and had to adopt technology to not only enable remote working, but also to stay in touch with stakeholders. Naylor says that iTOO leveraged digital platforms for stakeholder engagement such as ongoing education of brokers, with a considerable amount of success. 

“The advantage was that we could reach a much wider audience and educate more brokers during these sessions. However, we also realised the importance of face-to-face interaction in our field of business. It’s all about building personal relationships and we can do that successfully in person.” 

Despite these planned physical interactions, Naylor emphasises that all COVID-19 protocols would be observed and that the iTOO Special Risks team would act responsibly to ensure the safety of all participants. 

“At iTOO, we firmly believe that insurance brokers have a very crucial role to play in the fast-changing insurance landscape. The insurance broker of the future must evolve and grow in step with these changing dynamics, which are increasingly highlighting the need for expert and specialist knowledge,” he says. 

Brokers must be experts 

“Specialised and niche risks that are emerging in the modern era require context and brokers must be the experts that can guide and advise customers about how best to navigate this landscape and choose the solution that will best meet their clients’ needs.” 

This is why the company believes that the role of brokers remains key in the insurance ecosystem. 

“Yes, it’s true that most business interactions can probably take place online – whether that’s over email, virtual meetings or even over social media – as a company, we continue to place significant importance on meeting people in person. This is especially true for our broker network, who form the backbone of what we do,” Naylor concludes.