As a financial advisor, you are experiencing rapid changes in client expectations. Like many other financial advisors in your industry you are looking for new ways to add value and grow your businesses. One way to tackle that challenge: understand and address your clients’ property and casualty (P&C) needs.
An opportunity
for both you and your clients
In a recent survey, we found that 77% of successful individuals expected their financial advisors to understand and point out property and casualty (P&C) risks they faced, such as inadequate car, homeowner’s, or personal liability coverage. However, only 28% of financial advisors provide that service. By supporting your clients’ P&C needs, you and your clients can both benefit.
Successful individuals want P&C support
Connect with Chubb
Click here to find a Chubb representative in your area. They can help introduce you to an independent agent!
Watch our research story
Hear why and how Chubb engaged financial advisors and successful individuals to learn more about their behavior and expectations.
The risk
with your clients' financial goals
If something happens and your clients don’t have adequate P&C protection, their financial goals could be at risk. Those are the goals you helped them set.
Many successful individuals are not fully protected
-
1 in 8
drivers are uninsured**
70%
have never or rarely had a professional assessment on their home or possessions*
-
62%
lacked jewelry insurance entirely*
76%
lack flood insurance*
-
23%
had heard of employment practices liability insurance and just 6% had purchased the coverage*
See the difference
Craig & Vanessa
Malware
Jennifer & Richard
Flooding
Ramona & Tom
Water damage
Rick & Sue
Liability
Sonja
Uninsured motorist
If you’re an agent or broker and would like to co-brand the Case Studies PDF, click here for instructions.
Money to care for aging mom stolen through malware; disrupts ability to have mom move closer
Mid-40's
currently live in Englewood, CO
Planning to build a guest house
on the property to take care of Vanessa’s aging mom
Working with a financial planner
on goal of having enough money saved to care for aging parent and paying for their children’s college and graduate school.
If you’re an agent or broker and would like to co-brand the Case Studies PDF, click here for instructions.
Heavy rainstorm floods home; decreases money in estate for children and grandchildren
58 years old
currently live in Southlake, TX
Plan to retire at age 62
and move to Santa Fe, NM
Would like to grow estate
as much as possible
If you’re an agent or broker and would like to co-brand the Case Studies PDF, click here for instructions.
Pipe burst results in water damage to home, delays retirement by 5 years
Early 60's
currently live in Glencoe, IL
2 adult children
who have left home
Home is 50% total wealth
significantly appreciated in value since they bought
Want to retire to Florida soon
will sell home, downsize and enjoy lower tax rates
If you’re an agent or broker and would like to co-brand the Case Studies PDF, click here for instructions.
Trampoline accident wipes out college savings, children not able to select their first choice private universities
Early 40's
currently live in the suburbs outside Dallas, TX
Set of twins
five years old
Home has four bedrooms
backyard includes a pool and trampoline, popular with their children’s friends
Want to save for private university education
as well as grow retirement savings and pay off house
If you’re an agent or broker and would like to co-brand the Case Studies PDF, click here for instructions.
Car accident and injury puts her life on hold for 3 years
Early 30's
rents a house in downtown Seattle, WA
Single, successful
member of a tech company that recently went public
Just bought an expensive car
and has begun working with an advisor to manage her finances
Likes to go on hiking trips
she drives to nearby national parks frequently in her new car
Financial Advisors Lacking Holistic Approach Risk Losing Clients
Download
Share
Helping you
get started
Financial advisors who take the extra steps to learn about P&C coverage will deepen their client relationships, expand their book of business by gaining referrals from P&C agents, and broadening their market differentiation. Getting started is simple – just three steps.
Identify, address, and revisit your clients’ P&C risks
Identify
Educate yourself about P&C coverage so you can spot gaps in your clients’ protection.
Address
Develop a network of P&C partners who routinely work with successful families and individuals, and can help your clients as well.
Revisit
Follow up with your clients each year to ensure that they stay protected, even if their lives change.
Benefits to your business
Since financial advisors typically only manage about two-thirds of their clients’ total wealth, there is a clear opportunity for you to deepen your client relationships. Adding P&C support can do that.
An expanded network
P&C personal insurance brokers typically have a network beyond trust and estate attorneys and CPAs. For example, they have relationships with real estate brokers and art advisors.
Real estate brokers
Only 42% of financial advisors surveyed currently have relationships with realtors
Art advisors
Only 16% of financial advisors have a relationship with art advisors
So when you provide P&C support to your clients, you grow the potential number of new referrals.
Hungry for more? Dive into a webinar!
Join Annmarie Camp, EVP Personal Risk Services as she discusses The Overlooked Gap in Financial Advice: Why and how providing guidance on property and casualty insurance can help clients and advisors.
Watch Webinar Now
Play RecordingProtection Outlook
One of the best ways for you and your clients to understand their situation with property and casualty coverage is to begin to get a profile of their exposure to risk.
-
Downloadable
Give your clients something to take home so they can evaluate their risk on their own time.
Download Share
-
Homeowner Checklist -
Valuable Articles Checklist -
Personal Liability Checklist -
Automobile Checklist
Ben Bollenbacher
Assistant Vice President, Strategic Partnerships Manager for the Pacific Region and Canada at Chubb Personal Risk Services
Send An Email >Ben Bollenbacher establishes and maintains relationships with trusted advisors to successful families. Over his 15 years at Chubb, his focus on communications, strategic development, regional event sponsorships and engagement with agents and brokers have given him expertise in helping independent agents craft insurance and risk management programs for their clients. Ben has a CAPI designation from the Wharton School of Business and has his executive MBA from Loyola Marymount University.
Aaron Hertsgaard
Assistant Vice President, Strategic Partnerships Manager for New York and Northeast Regions at Chubb Personal Risk Services
Send An Email >Aaron Hertsgaard develops and cultivates connections with centers of influence—devoted advisors to successful families and individuals. His attention to strategic development, communications strategy, brand-building, alignment of regional marketing staff and regional event sponsorships have sparked engagement with agents and brokers. In his 12 years at Chubb, he has grown and retained $75 million in gross written premium at the Dallas branch and has served as a marketing specialist and sales support manager. Aaron has a CAPI designation from the Wharton School of Business.
FINE ART/COLLECTIBLES:
Laura Doyle
Vice President, Collections Manager at Chubb Personal Risk Services
Send An Email >Laura Doyle has over 10 years of experience creating tailored risk management solutions for private collectors. In addition to developing collections education for agents, brokers and wealth advisors nationwide, she underwrites collections of fine art, wine and collectibles, and consults on assessment, display, transit, storage, museum loans and disaster planning. She has a certificate in appraisal studies of fine and decorative arts from New York University and a CAPI designation from the Wharton School of Business.
FAMILY OFFICE:
Kate Norris
Vice President, Family Office Practice Leader at Chubb Personal Risk Services
Send An Email >With more than 18 years of industry experience, Kate focuses on personal insurance for successful clients—specifically, family office clients. She has developed an established track record working with family offices and is responsible for collaborating with independent agents and brokers to develop strategic opportunities that meet the unique needs of their valued family office clients.