How can brokers and insurers differentiate themselves in a highly crowded marketplace? With Alan Thompson from MAP Training

Run time: 14.45

Description:

The insurance market is becoming increasingly crowded. Given that many customers don’t understand the specifics of the industry, and often don’t have the time to conduct any research, how can you ensure that your business differentiates itself from competitors?

In this episode, MAP Training Director Alan Thompson highlights the importance of identifying the emotional and practical needs of your customers. Having done so, you can emphasise the particular aspects of your proposition that align with those needs during the subsequent sales process.

Quote:

‘The key is not to assume that we know what the customer needs are, and what's important to them. Because different customers will value different things. So, we've got to be prepared to find this out so that we can then match the appropriate parts of our proposition that enables us to address that need of the customer.’

Resources:

MAP Training: https://maptraining.co.uk/

Chris Withers’ LinkedIn Profile: https://uk.linkedin.com/in/chris-withers-ab77761b

Alan Thompson’s LinkedIn Profile: https://www.linkedin.com/in/alanthompson1/

About the Guest:

Alan Thompson is one of two founding Directors of MAP Training Ltd, a specialist training company. He has worked in the insurance industry for 35 years, beginning his career in marketing, strategy, and customer management roles, before transitioning into the design and delivery of training programs for insurance staff.

About the Host:

Chris Withers is the Broker Distribution Director for Ecclesiastical Insurance, and has over 25 years of experience in the industry. He previously worked for Covea and RSA.

Disclaimer

This guidance is provided for information purposes and is general and educational in nature and does not constitute legal advice. You are free to choose whether or not to use it and it should not be considered a substitute for seeking professional help in specific circumstances.

Accordingly, Ecclesiastical Insurance Office plc and its group companies (“Ecclesiastical”) and MAP Training Ltd., shall not be liable for any losses, damages, charges or expenses, whether direct, indirect, or consequential and howsoever arising, that you or any third party suffer or incur as a result of or in connection with your use or reliance on or action taken (or not taken) by any other party, caused by that or any other person’s use of or reliance on the information provided in this guidance, except for those which cannot be excluded by law.

In viewing the guidance, you acknowledge that over time the information provided may become out of date and may not constitute best market practice, that it is subject to change and new editions may be issued to incorporate such changes and that Ecclesiastical and MAP Training Ltd. have no duty to provide such changes.