Insurance Advocacy

[HAM of AK]

I've been in insurance for about 20 years minus family time to be at stay at home mom. Now that my girl is back in school, I'd like to work as a consumer advocate--helping people with insurance questions, complaints, claims, etc. I am licensed in P&C and Life/Health in Alaska. I can't seem to find out anything from the division of insurance about doing advocacy. My business partner & I work with Aflac and a few other minor insurers. But I've found that I really enjoy helping people in matters of all insurance. The trick is to make that an income making endeavor. Any ideas?

Thank you for your time!

 

[Newby]

I've been in insurance for about 20 years minus family time to be at stay at home mom. Now that my girl is back in school, I'd like to work as a consumer advocate--helping people with insurance questions, complaints, claims, etc. I am licensed in P&C and Life/Health in Alaska. I can't seem to find out anything from the division of insurance about doing advocacy. My business partner & I work with Aflac and a few other minor insurers. But I've found that I really enjoy helping people in matters of all insurance. The trick is to make that an income making endeavor. Any ideas?

Thank you for your time!

Who would pay you? Consumer? The government? The insurance company? Attorney? Do you specialize in large multi-million dollar cases that will likely go to court?

I would think you could do more good as an agent that helps people in the first place. You do a lot of good and you get a nice paycheck for it.

 

[HAM of AK]

Nothing so big as the multi-million dollar "The Rain Maker". Mostly consumers call me with questions like "is this legit on a claim" or "can you review my (life/health/p&c) policies to make sure my coverage is adequate or I'm not getting overcharged." One lady called me after a friend recommended me. She had found out that med pay had been omitted from her auto insurance after being hospitalized in a car accident. Another called me after a claims adjuster refused to use med pay under a homeowners claim because she felt that the 2 yr old injured should have known better than to run in a house. Med pay on homeowners insurance is no fault in Alaska. Mostly I like to help consumers who feel like they have no where else to turn. My business partner and I do a lot of this kind of help at no charge. But it's becoming all encompassing. I hate to turn anyone away that needs help but goodwill doesn't cash so well at the banks.

 

[TristanTLC]

Me thinks your business partner should be an attorney if you are handing out advice on insurance contracts and what appears to be legal advice. You might have a good situation as a law practice, but I'm not sure how you would do it as an advocacy firm.

I suggest you listen to Scot and try becoming an agency that markets insurance, but advertise that you are also an advocacy agency. If you let your potential clients know that you will try to assist them - on a NON legal basis - then you might build a great rapport for finding referral business that will result in a sale.

 

[DHK]

You need to learn how to do a financial review properly.

Meaning: help people get the maximum coverages for the LEAST amount of premium. Then redirect the premium dollars in a way that will HELP the client.

That's how you get paid for helping people.

Oh... then ask for referrals for doing such a great job with them!

 

[HAM of AK]

Awesome! You are all my Christmas Card list! Thanks!

 

[Mac1958]

Just FYI...

A friend of mine locally operates a senior insurance assistance agency that is non-profit and essentially exists on grants.

The upside for her is that she is a 100% advocate for seniors (who are so often confused & frustrated by application, claims, low-income regulation and other issues), and is like a pit bull in her efforts to protect them. She's an awesome resource and assistant to seniors, I wish every city had a few of her.

The downside is that she has to constantly be concerned with funding, and must write regular grant applications. The money is probably not great, but she is truly committed and terribly valuable.

This would not work for someone who is in any way connected with an insurance company or agency, however. She has to, as a condition of her funding, not show any support or favoritism in any direction.

 

[somarco]

My approach to clients is more of a consultative one, showing them how to get the most value for their dollar. I also have a lot of info on my website for those who want to do it themselves, including links to charitable groups, taxpayer funded assistance, etc.

I "donate" time on consumer forums without ever asking for money but all of these things generate business and referrals.

There is no conflict of interest. I can serve my clients and still get paid. Sure, there are some who want something for nothing but they will always be around.

Just because you are compensated when someone buys a product from you does not mean you cannot also be an advisor.

 

[VacantHomeIns]

I've been in insurance for about 20 years minus family time to be at stay at home mom. Now that my girl is back in school, I'd like to work as a consumer advocate--helping people with insurance questions, complaints, claims, etc. I am licensed in P&C and Life/Health in Alaska. I can't seem to find out anything from the division of insurance about doing advocacy. My business partner & I work with Aflac and a few other minor insurers. But I've found that I really enjoy helping people in matters of all insurance. The trick is to make that an income making endeavor. Any ideas?

Thank you for your time!

What you want to do is very admirable and if you were going to do it just to help people, and you did not need the money, you could setup a website and people would find you, however it's almost impossible to make money (if you NEED this to pay the bills). In most cases I can't see insurance companies even dealing with you because of privacy and confidentiality issues.. it's very hard. If you help people personally, they are not going to pay for this service. I do with you the best though.