Insurance Is Not a Commodity

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With an understanding of the language, knowledge of the reasoning behind the words and effective communication skills one can create change.

The thought that a business or professional insurance program is a commodity may be the most significant single factor leading to unmet expectations, unexpected costs and financial hardship at the time of a claim.

While it is clear that premium is the most visible cost of an insurance program, in reality it pales in comparison to the cost of improperly structured coverage and unanticipated uninsured exposures.

The risk that your organization faces is unique and an insurance professional who understands this and is willing to understand your organization can effectively negotiate unique coverage terms and conditions to address your needs.

Your business model is unique and insurance is a critical part of business development – a commodity insurance product gives you no advantage over your competition.

Insurance policies are contracts formed by many words each having importance – in the hands of one who does not understand the importance of these words insurance may just be a commodity. In the hands of a true insurance professional an insurance policy can be effectively molded to meet your organization’s unique needs and business model making your insurance program a business asset.

This is the value of experience; this is the advantage that you get when you work with James Venezia.