| Unitrin: Ease of Business |
| Insurance | |
| Written by Liz Jones | |
| Friday, 30 November 2007 | |
 Donald Southwell explains how this insurance and financial services company is making it easy for customers and agents to do business.  Donald Southwell, President and CEO Its property and casualty insurance group includes the Kemper, Unitrin Specialty, and Unitrin Business Insurance brands, all of which sell insurance through a network of independent agents. Unitrin Direct markets auto insurance directly to consumers, while Unitrin’s life and health insurance group sells through a nationwide network of 2,400 inhouse agents and 250 exclusive independent agents. Unitrin’s consumer finance division, Fireside Bank, specializes in helping individuals purchase pre-owned vehicles. Business for the busy Unitrin understands that people today are busier than ever before. If people aren’t at work, they are going back to school, shuttling their kids from ballet class to soccer practice, or taking care of domestic responsibilities. Many don’t have time to shop for insurance policies and have even less time to listen to elevator music while waiting on hold. That is why Unitrin Direct, the company’s direct-to-consumer auto insurance division, recently implemented virtual hold technology (VHT), which has drastically reduced the amount of time customers spend waiting for a customer service representative. Using VHT, if a Unitrin customer service representative isn’t immediately available, customers are given the option of having a representative call them back—without losing their place in the queue. So far, the results are impressive. In July 2007, hold time was cut by 81%, a total of 542 hours. For policyholders, VHT is particularly useful considering that Unitrin Direct advertises via the Internet, direct mail, television, and print, and most customers respond to those advertisements through its Web site or call center. (According to Southwell, VHT is only available for Unitrin’s direct-to-consumer lines, as call centers comprise only a fraction of its agent-based businesses.) Unitrin Direct has also tweaked its Web site. Southwell explained that customers can purchase auto insurance—start to finish—on the Web site using an electronic signature. “You don’t have to drive anywhere or deal with paper. At the same time, you can rest assured knowing that you have purchased a quality product backed by a company that has always paid its claims fairly.” Easy as one, two, three Unitrin’s direct-to-consumer lines tend to draw a younger crowd that is more comfortable using the Internet to conduct business. Its agent business, in general, serves customers who have more assets or special needs that require an agent’s expertise. “That is where our agents shine,” said Southwell. Unitrin has made ease-of-use a priority for its agents, as well as its direct consumers. Not only does the company feed its agents leads derived from the Web site, it also continuously adjusts its Web site to make doing business as easy as one, two, three. First, agents quote new business into their own software systems. Second, they upload it to the Unitrin site. Third, once the data is complete, Unitrin downloads the information back into the agent’s software system. “Writing new business with us is quick and seamless,” said Southwell. Unitrin co-advertises with its independent agents and, in conjunction with Alexandria, Va.-based Trusted Choice, an independent agent organization, supports them in building a brand identity. “We view our agents as business partners. They need to succeed before we can succeed,” said Southwell. Balancing act With several dozen companies spanning the bulk of the insurance industry, Unitrin’s challenge is striking balance. Southwell explained that all of Unitrin’s businesses are cyclical, but the cycles are staggered, giving the company strong footing. “Our diversified earnings make the whole stronger than the pieces,” he said. But achieving balance means more than not having all your eggs in one basket. Successful businesses, said Southwell, are those that can successfully balance competing interests. “You probably heard the saying ‘Look before you leap.’ But you’ve also heard ‘He who hesitates is lost.’ Which one is right? That depends. Every day, we have to balance the needs of our employees, agents, customers, and shareholders. For long- term success, we can’t hurt one to help the other. You have to find a compromise that works for everyone.” On that note, Southwell said there is no silver bullet. Achieving balance is simply a matter of making common-sense choices on a day-to-day basis. “We invest in people who use good judgment and integrity, and we try to espouse this philosophy throughout the company so that everyone thinks in terms of balance.” |
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American Executive is a RedCoat Publishing publication.
American Executive is a RedCoat Publishing publication.
