Protection Is Our Purpose

One of the questions I’m often asked is, “What has kept you in this industry for more than 30 years?”

Like many insurance professionals, I’ve found that the focus on protecting customers never gets old. I’m still excited to come to work every day. In fact, I think there has never been a better time to be in the property and casualty industry. Why? Because carriers and their distribution partners together have an historic opportunity to change the narrative around protection and help customers take a more proactive approach to prevent claims.

Predict and Prevent

Insurance exists to help our customers mitigate their unique risks. Our industry has traditionally employed a “repair and replace” mentality focused on helping customers recover from a loss. This will always be a critical part of what we do, and the care we provide throughout the claims process remains a top priority. However, we can add even more value by offering guidance and resources to help customers avoid a claim in the first place.

Nationwide has a long history of working with thought leaders like the Insurance Institute for Business and Home Safety (IBHS) to advocate for an industry shift to a “predict and prevent” mindset to help customers safeguard themselves and their property. As risks become more complex, and severe weather intensifies, adopting this approach is critical.

In this challenging environment, distribution partners can provide significant value for their clients. They understand their clients’ businesses and unique insurance needs better than anyone. Everybody wins when they team up with carriers that provide expertise, education, and technology to help customers mitigate risk.

Here are some examples of how we’re working closely with distribution partners to help customers shift to a predict and prevent mindset:

• Providing loss control coaching and tools to improve safety in commercial areas;
• Using thermal imaging and other technology to help customers monitor machinery to eliminate electrical hazards;
• Encouraging customers to use smart home technology to identify water leaks or electrical issues before they cause significant damage; X Employing telematic devices to provide real-time feedback on a customer’s driving habits to enhance safety; and
• Advocating for stronger building codes across the country to make homes, businesses, and communities more resilient to severe weather.

Optimism for the Future

Though risks are becoming increasingly complex, we can help customers mitigate them. That’s a powerful message customers need to hear. By working together, carriers and their distribution partners can ensure more customers take proactive steps to protect themselves, their property, and their business.