Time to Review Your Personal Insurance Program?

An Interview with Brandy Enger,
Director of Personal Lines at Vizance

 

VIZANCE is a privately-held independent insurance agency offering a broad portfolio of insurance and risk management solutions for individuals and businesses. Since their founding in 1978, they have seen significant growth, particularly in the personal insurance space. This is attributed - in part – to their consultative approach to insurance, as well as their unique ability to provide custom-tailored solutions to their clients.

We sat down with Vizance’s Director of Personal Lines, Brandy Enger, after she recently helped one of our valued clients uncover – and solve – some critical issues within their own personal insurance program. We wanted to learn more about the personal insurance industry, Brandy’s risk management philosophy, and what she sees as the most pressing issue(s) facing our clients today.

How has personal insurance evolved since you started in the industry?

As an insurance professional who has been in the industry for over 20 years, I have seen a substantial amount change. The advent of technology has created wonderful efficiencies, but has also resulted in many people self-managing their personal insurance program, resulting in misallocation of premium and uncovered losses. New coverages have also emerged, from cyber liability and identity theft to pet insurance. Just as importantly, though, are the things that have stayed the same. Independent, unbiased advice and first-class service matter as much now to insurance consumers as they ever have.

What advice would you give to someone who is looking for a second opinion on their insurance program?

I’d start by telling them to reach out to their already established team of trusted experts – attorneys, CPAs, and wealth advisors – and ask them who they recommend. Then, I’d pay attention to the process the insurance advisor uses. Does it feel personal? What types of questions do they ask? How are they compensated? Do they have access to more than one product and/or company? Are those companies reliable and trustworthy? What resources do they have? The consultation should feel informational and personal, not like a product push.

What are some common mistakes you see with individual insurance policies?

Quite often I see programs that are very out of balance, meaning the client is overpaying for coverages they don’t need, and missing coverages (and discounts) they do. Typically, this is a function of not having their coverage reviewed on a regular basis, or not having a solid relationship with their agent. In fact, with the mutual client we recently collaborated on, all of those issues were present (along with a handful of others).

What is your favorite insurance product?

The personal umbrella is still the most efficient and cost-effective way to protect current and future wealth, and provide true peace of mind. But it’s a very misunderstood product, and I see many examples of people who are missing this critical coverage, or who don’t understand how inexpensive it can be to acquire the amount of coverage they truly need.

Why are you so passionate about insurance?

Because I’ve seen it work. I’ve seen destroyed homes rebuilt and families compensated for unimaginable loss. Insurance is one of those rare industries where you have the opportunity to be the ray of hope in the middle of a stormy situation. But the icing on the cake is that I get to work with a great team of insurance advisors each day, whose passion for the industry – and our clients – mirrors my own.