Personal Branding for Insurers.
Author: yinkaolaito
Yinka Olaito is happy,excited and passionate Brand Communication, Social Media expert, Trainer and speaker. Yinka Olaito helps brands(Profits and Non-profits)with effective communication and positioning for premium service delivery and returns.Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage consulting and African Child Right Inc.Lagos Nigeria
Insurance is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance. An insurer as a professional is the one with professional qualifications and experience to insure his clients against a particular form of risk. As a company, an insurer is an organization that bears the financial risk for the cost of defined categories or services for a defined group of beneficiaries.
Our focus here is not about a company, but an individual, professional who engages in the business. So we define an insurer as an individual trained in risk management and who is mandated through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual.
Risk is part of life. Everyone has to take risk on a daily basis. The level of risk tolerance of individuals often makes individuals, organizations to develop a risk alleviating strategy and this will always make an insurer (person) relevant to our daily lives.
Good as this may be, every insurer needs to build a strong personal brand that will make him to be acceptable in the market. The followings are avenues to do this.
1. Current Knowledge: Personal branding principles require that one should be current with present happenings in both the local and international market. An insurer that will be rated high must be a reserviour of knowledge. This will enable him to educate the clients well in the choices of policy to take.
2. Intelligent quotient: This is ability to analyze trends, situations, circumstances of the client intelligently so that he can adequately advice clients in their choices.
3. Integrated information management: In marketing, we talk of integrated marketing communication, but for an insurer, it is integrated information management. Management of clients’ information across board is important. Ability to keep clients’ information secret will enhance personal branding of an insurer.
4. Analytical reasoning: Strong ability in analytical reasoning is highly required to enhance personal branding rating of any insurer. Ability to separate issues as they arise to the fairness of all concerned will be an added advantage.
5. Response-ability: An insurer that will command high rating in the target audience market must be fast in responding to clients’ risk. The speed at which an insurer has response-ability will go a long way to enhance the personal brand.
Other points will be included in the soon to be released Personal Branding For First class Professionals- my free e-book.
N.B. The picture above is that of Mr.Adeyemo Adejumo, Managing Director Continental Re Insurance Plc and the current President/council Chairman of the chartered Institute of Insurance of Nigerian. This man earned our respect as a strong brand-Insurer category. We do not have permission to use his photograph here. This picture was taken from his company’s website. We need to note that he is not even aware that we have being watching his antecedents for years.
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