Phase 1 Research – Qualitative Findings ZIS / US Assure.

Phase 1 Research – Qualitative Findings

ZIS / US Assure

Phase 1 Research

•Purpose of Study

•Qualitative Objectives

•Methodology

•Key Findings

•Observations by Audience

•Initial Key Messages

Purpose of the StudyZIS / US Assure

• Understand awareness of and familiarity among target audiences.

• Identify messages that influence Distributors and other industry partners to choose you.

• Determine the most motivating messages to choose you over competitors.

Qualitative Objectives Phase 1

• Uncover your perceived strengths, weaknesses and perceptions

• Identify competitive landscape

• Identify key decision criteria and reasons Distributors and other industry partners chose you

• Develop 10-15 key message candidates that will become the foundation of your brand position

Qualitative MethodologyPhase 1 – August 4th through September 7th, 2011

• One-on-ones & two small group interviews

• Zurich appointed Distributors (12)

• Active US Assure Distributors (6)

• Inactive US Assure Distributors (2)

• Prospective US Assure Distributor (1)

• Carriers (4)

• “Organic” conversations uncover more than just the rational selling points

Key Findings

•Industry Challenges

•Key Takeaways

Competition is fierce. Insurance providers “sell” Competition is fierce. Insurance providers “sell” the same things: the same things:

•We have great serviceWe have great service•We have great productsWe have great products•We have good pricingWe have good pricing•We have good technologyWe have good technology

(Non Zurich Carrier)(Non Zurich Carrier)

Industry Challenges

Distributors are contacted by many insurance Distributors are contacted by many insurance providers every day, every week by phone, providers every day, every week by phone, email, mail, and/or online.email, mail, and/or online.

How do you get Distributors to take a credible look at you to How do you get Distributors to take a credible look at you to see how you are different from others? see how you are different from others?

(Non-Zurich Carrier)”(Non-Zurich Carrier)”

Industry Challenges

Distributors are frustrated by carriers. Distributors are frustrated by carriers.

Carriers never get back to you. Every company’s forms are Carriers never get back to you. Every company’s forms are different. They do it on purpose. They need to be simplified. different. They do it on purpose. They need to be simplified.

There is limited access to single data entry.There is limited access to single data entry.

(US Assure Distributor)”(US Assure Distributor)”

Industry Challenges

Carriers outsource work to other providers, often Carriers outsource work to other providers, often without letting their Distributors know. When the without letting their Distributors know. When the provider is revealed Distributors may be provider is revealed Distributors may be frustrated.frustrated.

Zurich’s separate silos are confounding. You never know who Zurich’s separate silos are confounding. You never know who you’re talking to. They call everything Zurich. (Zurich Appointed you’re talking to. They call everything Zurich. (Zurich Appointed

Distributor)Distributor)

How do you know who you’re dealing with? ZIS is not even How do you know who you’re dealing with? ZIS is not even Zurich. I did not know that.” (US Assure Distributor)Zurich. I did not know that.” (US Assure Distributor)

Industry Challenges

Being an expert is important. Distributors look Being an expert is important. Distributors look for the experts in a given product area. for the experts in a given product area.

““When you focus on one thing, you get good at it and When you focus on one thing, you get good at it and competitive. When you start to do everything, it may mean competitive. When you start to do everything, it may mean you can’t do it as well as someone who specializes in it.” you can’t do it as well as someone who specializes in it.”

(US Assure Distributor).(US Assure Distributor).

Key Takeaways

Your reputation as a expert with Zurich Your reputation as a expert with Zurich Builders Risk can be leveraged.Builders Risk can be leveraged.

Now knowing who US Assure is, I would have no hesitation Now knowing who US Assure is, I would have no hesitation using them in the future based on the Builders Risk using them in the future based on the Builders Risk

experience. You search out the expertise. experience. You search out the expertise.

(Zurich Appointed Distributor)(Zurich Appointed Distributor)

Key Takeaways

In the sea of competing providers, delivering In the sea of competing providers, delivering your “ease of doing business” is an your “ease of doing business” is an opportunity for you to become a preferred opportunity for you to become a preferred provider.provider.

Quick, responsive. If I need it today, they do it. That’s Quick, responsive. If I need it today, they do it. That’s awesome. Not everybody will do that…On some things they awesome. Not everybody will do that…On some things they

have been just lightening fast. And it’s gotten me the have been just lightening fast. And it’s gotten me the business. I like that. (US Assure Distributor)business. I like that. (US Assure Distributor)

Key Takeaways

Your “making it easy to do business” model Your “making it easy to do business” model includes includes your peopleyour people. They get high marks for . They get high marks for helping to write the business.helping to write the business.

It’s their attitude -- they really want to write business and It’s their attitude -- they really want to write business and they’ll find a way to do it. As an agent, this is very nice. You they’ll find a way to do it. As an agent, this is very nice. You

want to work with companies that want to write business. want to work with companies that want to write business. (Zurich Appointed Distributor)(Zurich Appointed Distributor)

Key Takeaways

You have a You have a company reputationcompany reputation for really for really working on behalf of the Distributor, being working on behalf of the Distributor, being proactive and clearing up issues. proactive and clearing up issues.

They’re available to take your call, go the extra mile. And They’re available to take your call, go the extra mile. And they’re subjective; an issue’s not just black and white. they’re subjective; an issue’s not just black and white.

(Zurich Appointed Distributor)(Zurich Appointed Distributor)

Key Takeaways

Distributors really applaud your service, Distributors really applaud your service,

your attentiveness and responsiveness. your attentiveness and responsiveness.

Their service is great. You can talk to someone anytime. Their service is great. You can talk to someone anytime. While you don’t need to talk much with Builder’s Risk, I do While you don’t need to talk much with Builder’s Risk, I do because I get involved in larger commercial type builders because I get involved in larger commercial type builders

risks so you have to get approval.risks so you have to get approval.

(Zurich Appointed Distributor about Builders Risk)(Zurich Appointed Distributor about Builders Risk)

Key Takeaways

Distributors Distributors likelike to work with you. to work with you.

It’s important to work with good people you like. Our business It’s important to work with good people you like. Our business can be pretty frustrating. If you find somebody that eases that can be pretty frustrating. If you find somebody that eases that

frustration that works pretty well. (US Assure Distributor)frustration that works pretty well. (US Assure Distributor)

Key Takeaways

Distributors seem unfamiliar with your other Distributors seem unfamiliar with your other product lines. product lines.

They have other lines but I haven’t sold any…It seems like They have other lines but I haven’t sold any…It seems like they haven’t done much in the state of FL. They’ve promoted they haven’t done much in the state of FL. They’ve promoted

them in other states. They’ve some professional liability, them in other states. They’ve some professional liability, some church stuff, some storage tank liability, but I really some church stuff, some storage tank liability, but I really don’t much about anything except Small Business and the don’t much about anything except Small Business and the

Builders Risk. Builders Risk.

(Jacksonville Zurich Appointed Distributor)(Jacksonville Zurich Appointed Distributor)

Key Takeaways

Distributors use the providers they have Distributors use the providers they have existing relationships with. When Carriers existing relationships with. When Carriers change their products or coverage, then change their products or coverage, then Distributors have to look for new alternatives.Distributors have to look for new alternatives.

We’re always looking for our new best friend that will help us We’re always looking for our new best friend that will help us out. If they can’t help us out any more, then we go looking for out. If they can’t help us out any more, then we go looking for

somebody else. (US Assure Distributor)somebody else. (US Assure Distributor)..

Key Takeaways

For carriers, your distribution network is a For carriers, your distribution network is a huge asset. huge asset.

They have 60K clients/agents that have stayed loyal to them. They have 60K clients/agents that have stayed loyal to them. They have that network to work off of. They know them.They have that network to work off of. They know them.

(Non-Zurich Carrier)(Non-Zurich Carrier)

Key Takeaways

OverallObservations

•All Audiences

There is considerable confusion about who ZIS There is considerable confusion about who ZIS is. Most think ZIS is the Zurich NA or a division is. Most think ZIS is the Zurich NA or a division of Zurich.of Zurich.

Some US Assure Distributors think US Assure is Some US Assure Distributors think US Assure is part of Zurich.part of Zurich.

Zurich Insurance Services

There is a lack of awareness of US Assure. There is a lack of awareness of US Assure.

US Assure

Nearly all participants referred to the Nearly all participants referred to the Zurich Zurich namename and and Zurich Builders Risk Zurich Builders Risk with its unrivaled with its unrivaled ease of doing business as your biggest ease of doing business as your biggest strengths.strengths.

““I’d like to see all products managed this way.”I’d like to see all products managed this way.”

Key Strength

Competitive landscape is very broad. Varies Competitive landscape is very broad. Varies depending on product line.depending on product line.

•National carriersNational carriers•RegionalsRegionals•Excess and Surplus brokersExcess and Surplus brokers

Competitors

•Professional, strong, flexible, laid back, easy to work with.Professional, strong, flexible, laid back, easy to work with.•Comfortable, not stuffy or hierarchal. Comfortable, not stuffy or hierarchal. •Young management brings energy to 30-year-old companyYoung management brings energy to 30-year-old company•Proactive people. Make it happen, positive, can-do attitude. Proactive people. Make it happen, positive, can-do attitude. •Good value system. They really want to write business.Good value system. They really want to write business.•Super people. Friendly, helpful. Excited and energized.Super people. Friendly, helpful. Excited and energized.•Detailed oriented. Very service intensive, trying to please.Detailed oriented. Very service intensive, trying to please.

Company Character

Observations By Audience

•Active US Assure

Distributors

•Inactive US Assure

Distributors

•Prospective US Assure

Agents

•Zurich Appointed

Distributors

•Carriers

Awareness & FamiliarityZIS / US Assure

There is confusion about ZIS and US Assure.

• Zurich Appointed Distributors say ZIS is part of Zurich NA. They’re not familiar with US Assure.

• Most US Assure Distributors believe ZIS is Zurich. Some think US Assure is owned by Zurich.

• Inactive US Assure Distributors are not familiar with US Assure.

• Prospective US Assure Distributor has never heard of US Assure and was not familiar with Zurich Builders Risk.

• Carriers were somewhat to very familiar with US Assure and ZIS.

StrengthsZIS / US Assure

Builders Risk and ease of doing business are most mentioned among Distributors.

• Zurich Appointed Distributors. Builders Risk – broad coverage at reasonable cost, ease of doing platforms, call center service and Zurich name.

• US Assure Distributors. Pricing, quick response, underwriting dept, knowledge of their product, accessible anytime and I like them.

• Inactive Distributors. Builders Risk’s so easy, answers right away, ease of operation, one stop shop, quick turnaround.

• Carrier. Broad distribution reach, technology, culture, customer-centric service, 30-year experience, many service capabilities, strong marketing of Builders Risk.

WeaknessesZIS / US Assure

They vary across audiences.

• Zurich Appointed Distributors. 2nd term Builders Risk no $ returned, No BR coverage in Protection class 9 & 10, Direct Bill vs. Agency Bill.

• US Assure Distributors. Have to explain US Assure name, Get bounced around on phone, Thought it would be like Builders Risk, My name is not on policy, Billing issues, Less competitive now.

• Carrier. Brand awareness. “Other” products knowledge, processes, response, experience and marketing confidence not equal to Builders Risk.

• Inactive Distributors. n/a.

Your DifferentiationZIS / US Assure

Ease of doing business and Builders Risk were mentioned most.

US Assure Distributors also said: ease of access/quoting, no minimums, good name recognition, highly rated company, fair commission structures.

Distributor Decision CriteriaZIS / US Assure

While coverage, price, carrier strength are important, ease of doing business (speed & turnaround) is also prominent across all Distributors.

Other LinesContractors Equipment

Distributors tend to package this line with large carriers’ other products.

• Zurich Appointed Distributors. Usually package it with carrier’s GL coverage for one premium. Use Travelers, Hartford.

• US Assure Distributors. Easier to include it in GL and Property package with large carrier. Go with standard carriers.

• Inactive US Assure Distributors. Use same regional companies that had the business when agency bought. Use same two regionals for 30 years: Specialty Risk Associates or Southern Cross.

• Prospective Distributor. Primarily use Travelers. If not,use regionals like Appalachian Underwriters.

Other LinesManagement & Professional Liability

Distributors go to providers who specialize in area, in a given industry or with standard carriers.

• Zurich Appointed Distributors. Usually Lloyd’s for contractors workmanship, E&O.

• US Assure Distributors. Started using US Assure but Philadelphia and Professional Liability – It’s their specialty. Go to standard carriers – good packages and keep volumes up.

• Inactive US Assure Distributors. Use Surplus & Excess lines for non-profits. Go direct to large players: Selective, St.Paul, Travelers. Use Specialty Risk Associates or Southern Cross.

• Prospective Distributor. Don’t have much of this.

Other LinesArchitects and Engineers

Not many of our participants write this line.• US Assure Distributors. Everyone’s premiums too high. Clients

with smaller projects not happy with this.

Commerical Storage Tanks

Georgraphy of participants not applicable to this product.

Other LinesSpecialty Automobile

Very competitive market. • Zurich Appointed Distributors. Very crowded market: Zurich,

Hartford, CAN, Travelers and regionals like Grange, Acuity, Harleysville.

• US Assure Distributors. Carriers like Progressive - they’re good at this and have 2nd easiest website after Builders Risk. We use Great West, Northland, Maxim, Canal, Progressive.

• Inactive US Assure Distributors. I go with Progressive. I go with another agency where we have broker relationship.

• Prospective Distributor. We do motor homes with Foremost and classic cars with Hagerty.

Other LinesChurches & Religious Institutions

Another crowded market. • Zurich Appointed Distributors. Nationals, regionals sell it;

Denominations now have own provider relationships; Church Mutual has lost share.

• US Assure Distributors. Zurich and Church Mutual. We leave clients who have coverage where they are.

• Inactive US Assure Distributors. Direct write with Donegal Mutual in my area. I go to Southern Cross and Specialty Risk – my go-to-guys.

Other LinesContract Litigation

Distributors were intrigued by this product. They would like to hear more about this.

US Assure Name & Logo

•Active US Assure

Distributors

•Inactive US Assure

Distributors

•Prospective US Assure

Agents

•Zurich Appointed

Distributors

•Carriers

US Assure Name & LogoAll Audiences

Most like the US Assure name.• Participants pronounce US Assure correctly.

• Most would type it “US Assure”.

• Reactions to logo mixed: some positive, some neutral. • I like the US and “us” message along with Assure and “trust.”

• Looks like a national company. It’s clean and simple.

• Like the colors. It’s appealing on the eyes.

• I have no opinion. The logo’s not important to me.

• It’s okay. It doesn’t really pop at me.

• Needs a tagline that tells me what they do.

What We Heard.What We Think.

What We HeardUS Assure

• Distributors give their clients more than one insurance option.

• Good coverage, price, carrier strength/rating are a price of entry.

• Ease of doing business is also a key criteria. • Zurich Builders Risk has a very strong reputation.

What We ThinkUS Assure

• US Assure can differentiate itself by building on the reputation for “ease of doing business” with Builders Risk and defining it in a way that it reflects how you service all your products.

What We ThinkUS Assure

• US Assure’s “ease of doing business” can embrace the strength of your people and how they work with Distributors and other industry partners:• Easy access to people

• Going the extra mile to write the business

• Streamlined processes

• Responsive attention

• Level of service not found elsewhere

• Quick turnaround

• Product experts offering a wide range of competitive products

• Flexible

• Super people

Initial Themes for Key Messages

•Why should I choose you?

What They SayYour Competitors

We do this…We do that…We have great…• Service• Products• Pricing• Technology• Expertise

These items are the price of entry.

What You Should SayUS Assure

Turn the focus around.

Talk about what Distributors and Carriers get when they choose you, in words that are relevant and compelling.

This is the foundation of your key messages

about US Assure.


At US Assure… NOTE: CVB is working to cull these down to one slide.

• You work with the company responsible for Zurich Builders Risk and its ease of doing business.

• You have access to a wider range of products leveraging the proprietary US Assure “ease of doing business” model.

• You work with people who really want to write business and will work to find a way to do it.

• You find people who are easy to work with.

• You experience a level of “ease of doing business” you can’t find anywhere else.

• When you call, you speak to a person not a voice mail.

• You get a quick responses to your questions.

• You work with a partner who can take on multiple roles.


At US Assure…

• You get your quote when you need it, guaranteed.

• You now have more opportunities to earn money while being confident in their expertise and their delivery.

• You get quick, responsive attention and feedback.

• You can be assured that management is the same, the people are the same as ZIS.

• You feel you have a relationship with friendly helpful people.

• You can reach them when you need them.

• You know your quote is competitively priced.

• You receive a level of service not found elsewhere.

• You have access to product experts.

• You like the people you work with and they like you.

What We Do Next.

What We Do NextUS Assure

• Research: Test/measure message themes to determine the most effective in motivating industry partners to choose US Assure.

Quantitative Research: 200-300 per audience segment to validate importance of key messages.

What We Do NextUS Assure

• Branding: Develop position and tagline

TimelineUS Assure

• To come

Some Initial Recommendations

Initial RecommendationsUS Assure

• Proprietary EOB Model: Develop and brand the US Assure’s proprietary “Ease of Doing Business” model exemplified by consistent, easy processes across all products, online and by phone.


• Analysis: Distributor Network Segmentation Analysis• Strategy: Create a strategic product portfolio based on the

profile of your Distributor Network. Become experts in these products.

• Marketing: Build confidence and knowledge across all products. Develop campaigns around suites of products based on Distributor Network profiles.


Long Term Vision: • US Assure’s proprietary “Ease of Doing Business” model,

becomes so desirable that: • New brokers not only find you for your current products, they ask

you to take on additional lines.

• Brokers want to register with you.

• Carriers want to work with you.

Thank you.Thank you.

Phase 1 Research – Qualitative Findings ZIS / US Assure.

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Transcript of Phase 1 Research – Qualitative Findings ZIS / US Assure.