"More personalized coverage will be key future trends in the industry," says independent agent Jon Ross. "We are also seeing a shift to the customer taking on more of the risk with higher deductibles or endorsements to buy coverage at set limits."
Jon Ross
Executive vice president
Overland Park, Kansas
How did you get started at your agency?
I was involved in various roles with an insurance carrier as part of their management track and was an employee of their direct writer for over a decade. After gaining experience with multiple functions, including production, underwriting, claims, product, marketing, leadership and service, I knew I wanted to be involved in the independent distribution channel and join an agency.
In 2019, a recruiter connected with me and told me about Flury-Hinderks and the opening they had, which was a new role altogether. Everything moved quickly from there, including moving my family back to the Midwest from Atlanta.
Why homeowners insurance?
Homeowners insurance, like every insurance product, is about establishing strong customer relationships. The main difference, as I see it, is that buying a home is a special moment in anyone's life and providing the appropriate insurance policy for that valuable asset is extremely rewarding. It gives any agent the chance to connect with customers on a personal level and creates meaningful conversations that allow us to become trusted advisers.
Challenges in the homeowners insurance market?
Insurance company capacity and tighter underwriting guidelines severely limit the options agents can choose from, both with prospects and renewals. While it is improving, there also remains a gap between customer expectations and their understanding of current market conditions. Given the continued rise in pricing and affordability issues, it leads to some real challenges with retention.
Future trends?
Artificial intelligence (AI) is increasingly being used by insurers offering homeowners insurance. Companies are also emphasizing risk mitigation solutions and offering discounts to customers who take steps to protect their homes from future covered losses through the use of tools, such as automatic water shut-off devices, moisture sensors, temperature monitoring systems and smart home technology. More personalized coverage will be key future trends in the industry.
We are also seeing a shift to the customer taking on more of the risk with higher deductibles or endorsements to buy coverage at set limits.
Advice for a fellow agent?
Find a mentor who has experience and can help you navigate through challenges to understand the industry. Then you can become a knowledgeable and trusted adviser focused on long-term relationships.
Olivia Overman is IA content editor.
