Consumer advocate shuns brokers when giving insurance advice

CTV personality apologizes on Twitter for neglecting to include consulting an insurance broker

A recent segment on CTV’s Canada AM about how to save money on car insurance demonstrates that brokers still have a lot of work to do when it comes to being top-of-mind with consumers in terms of the value proposition they offer.

At the same time, one possible takeaway from the segment is that a good place to get more exposure and increase the broker profile may be by building stronger relationships with the country’s consumer advocates and financial gurus in TV, radio and print media.

Read: Insurer CEOs differ on marketing strategies

This past Thursday morning, Canada AM’s chief financial commentator Pattie Lovett-Reid answered questions about why insurance rates vary from driver to driver and offered basic tips on how to get a cheaper rate.

Canada AM host Marci Ien said Lovett-Reid encourages drivers to “go online and don’t be afraid to shop around.”

“You absolutely should,” said Lovett-Reid, “because different companies are going to offer different things depending on the car you drive, the distance you drive. Get at least three quotes all the time.” She made no mention of the fact that an insurance broker can perform this function for drivers.

Watch the Canada AM segment here.

Lovett-Reid continued with advice on combining policies, altering coverage and consulting the Insurance Bureau of Canada’s website about what cars are a higher risk for being stolen.

She went on to describe how the Ajusto usage-based-insurance program from direct writer Desjardins can save drivers up to 25% by installing the telematics device.

Following the segment, your humble editor took to Twitter to point out Lovett-Reid’s lack of any mention of how insurance brokers can help consumers achieve the same results:

Within the hour, Lovett-Reid replied with an apology, adding that she herself uses an insurance broker!

Lovett-Reid can perhaps be accused of doing poor preparation for the segment. Alternatively, perhaps her own broker should be checking in with her more often so that she would have thought of them when getting ready for this segment. In either event, brokers would do well to take note of the fact that Lovett-Reid has a public platform that they could exploit to more powerful effect in future.

What other public commentators do you think are falling down on the job when it comes to talking up the advantages of working with an insurance broker? Let us know at @CITopBroker

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Transcontinental Media G.P.