I am excited to introduce you to industry-leading professional and veteran, Greg Isaacs, President of CoverHound Insurance Solutions. Greg shares about his most memorable customer and how this incident has made him more motivated in helping people get the right coverage.
How long have you been working in the insurance industry, and how did you get started?
I am almost 20 years into the industry, and I grew up around it as my Dad was an Allstate agent for over 20 years. I never had the inclination to get into insurance until a Farmer’s district manager scouted me out, and she felt that I was perfect for the industry and the business. At that point, I felt that there was much to learn, and I knew the importance of it, so it was a natural transition from a consumer of insurance to an advisor of insurance. (Such a long history in insurance!)
You’re known to be passionate about insurance. What fuels this passion and motivates you to come to CoverHound everyday?
I felt that there is a serious responsibility for all insurance agents because we are not selling shoes. We are selling people protection for their most important assets, and we need to have the passion in helping people and making sure that they are making the right choices. The very conversation that you have with a customer may be one of the most important conversations that they will ever have.
My biggest motivation for coming to CoverHound is the People, Mission and Goal. We started out with a handful of employees with an audacious goal of changing how consumers get advice and consume the personal line of insurance. Having a team of people join us and leading them is what keeps me motivated and passionate. (Hooray CoverHound!)
Which customer did you find the most memorable and why?
Many come to mind but the one that I will never forget and will continue telling the story about is of a policy that I didn’t sell.
There was a really good customer that was well covered with both home and auto insurance. When I was reviewing her policy, I discovered that she had $180,000 worth of jewelry that wasn’t covered by her homeowner’s policy. I advised her to get coverage immediately, and she agreed to it. However, after all the administrative work, all she had to do was to sign the contract and submit the check, but due to her busy schedule, we had to reschedule multiple times. She went to Colorado for a week and when she came back, unfortunately her home had already been broken into and all the jewelry was gone.
At that moment, I thought - what could I have done better? I could have built more urgency and advised her to get the coverage now, or even drove to her house, which was only three blocks away to get her signature on the paperwork. The stuff that we insure for does happen. It’s rare, but it happens.
What’s the #1 piece of advice you’d give to help young insurance advisors?
I would really remind them that we’re not selling shoes/widgets. What we’re doing is helping people make decisions that may possibly have a huge impact on their lives during unfortunate events. It is also important to have passion and be confident because you are the experts in insurance.
In the brand new year, how do you think the insurance industry will change, and what advice would you give to consumers?
The biggest change is that the average consumer may be impacted by the use of the internet when it comes to the distribution of insurance. Consumers can now go online, compare insurance and get unbiased advice to make more informed decisions using CoverHound and Google Compare.
Millennials are such a large part of the population, and they are affecting all the industries. Carriers are now focusing on meeting the needs of millennials and mobile is a huge area that the insurance industry is focusing on to meet those needs.
Where did you grow up and do you have any siblings?
I was born in Westlake, and I grew up in Simi Valley. I have an older sister who is a CPA with 2 children, a beautiful niece and nephew.
What are some interesting facts about yourself?
When I was 15, I did a 30 day Outward bound course which was the biggest challenge at that point in my life, and I had a knee surgery 2 weeks later, but I did complete the course! Another thing you would probably not have guessed is that I was the MVP of my High School’s diving team. (PS: That’s more of a reflection of how bad our diving team was). (Still takes a lot to be the MVP!)
What’s your favorite sports team and why?
Many of my favorite sports teams go back to my childhood when I watched the games when I was younger. I am passionate about LA Dodgers for baseball, Saint Louis Rams for Football and USC for College Football! (Cheers to all the fans out there!!)
I would say my most selfish endeavor would be surfing. By going out and chasing waves, I am not doing anything to change the world or make anything better. It does wash away all my issues and anxiety so that I can be recharged to do what I want to thereafter--whether that's being a better father, a husband, a boss or employee.
What brought you to CoverHound?
I kinda created the job myself to be honest. At that point, CoverHound didn’t include an agency and fulfillment when it started. In the effort of giving the customers a better experience and to build a brand, I felt that it was important to be able to fulfill at least a significant portion of the customers. That is how CoverHound Insurance Solutions came about. We’ve been rocking and rolling since November 2011.
Those were really insightful views about the insurance industry Greg! Thanks so much for sharing and letting us get to know you better!