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November 2013 Newsletter

Welcome to our November Newsletter and we hope that you will find our topics helpful and interesting.  Please let us know if there is any subject in particular that you would like to hear more about……Financial Planning advice, Under-insurance, GAP cover….and we will do our best to provide you with the information you are looking for.

We hope that every one of our loyal Clients visits our Website and lets us know what they think. We value your input and would like to get to know you better.

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A Message from Mat Gallacher

Re: Business Relationships
In this age of rapid communication and instant gratification, I am often asked to air my views regarding Business Relationships in this modern world.

As an Insurance Industry player for over fifty years I can express an opinion having experienced the vagaries that are inherent in this sector of the economy.
As a bright eyed youngster I launched myself into insurance only to realize that I was like a rabbit caught in the headlights. It was a rude awakening and I achieved business maturity within a relatively short space of time, only to be whisked halfway across the world to pursue my insurance career.
Relationships had everything to do with that transition. I innocently imitated my senior colleagues, not wishing to expose my maverick tendencies, but secretly yearning to be different, to improve my narrow perception and to adopt a different approach to business challenges.
How wrong could I be?

I had entered an Industry that was built upon traditional values - an Industry that needed to maintain these values and the aura of security for which it had become synonymous. As a Service Provider, it was imperative for me to convey to the customer the promise of security. What better way could there be but to forge long term relationships with customers whereby reassurance was continually being given and  bonds of trust were being created.

Long term business relationships offer immense gratification, something much more rewarding than fleeting satisfaction.

I accept that for many, insurance is generally a grudge purchase. Our personal and business expenses are constantly monitored and the options made available to us via the Internet have allowed us to scrutinize our expenses to ensure that we maximize our returns. This is healthy and understanding your financial affairs is encouraged and welcomed. But your Insurance affairs honestly require professional management, if you are to receive the correct protection that your circumstances demand. This is not a simple exercise and demands commitment and huge responsibility. It requires dialogue and interchange. It requires trust, a factor that develops with the creation of long term personal and business relationships.  
What can offer more comfort than knowing your financial affairs, both personal and business, are safe and secure in the hands of a reliable and trusted professional, with whom you have developed such a relationship? Surely we all wish to experience that comfort, so I ask why do so many fall for advertising gimmicks? Why do so many accept the ‘call-centre-culture’ where no relationship is established? When disputes arise how can satisfaction be obtained when no relationship exists, when you are a number in the queue and there is no one to relate to you.
These questions leave me stumped, especially when I reflect on the long term relationships that I have developed during my many years in business. From my motor mechanic to my stockbroker, from my plumber to my travel agent, from my tax consultant to my electrician, they all form part of my long term professional relationships, sources of comfort and relief in a very demanding world.
Ultimately, one should strive to create a similar relationship with Product Providers as well as Service Providers. For that reason, it is important to consider long term relationships with your Insurer as well as your Broker. Only benefits can arise from those relationships. There is no downside. The trust that is created speaks volumes when one is faced with catastrophes and I am witness to the enormous benefit that derives from maintaining these relationships. I am aware of many serious events that have taken place that have impacted on my clients where the trust factor has been instrumental in the efficient and effective solution of insurance claims that would otherwise have given cause for concern.
Let me assure you that your interests are best served by forging these relationships, sooner rather than later. You will not regret it.

Look out for our next Newsletter on Home Business Insurance, GAP cover and the Discovery Short Term Product that is available.