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Rising to meet the needs of health care business owners

MAY. 18, 2021

Like many of us, health care business owners are looking to the future with optimism and learning from the past year. The latest Agent Authority results show the pandemic brought challenges for their business with about 1-in-5 seeing negative impacts to their total cost of operations, total revenue, and ability to meet the health and safety needs of patients.

Concerns included being victimized by a cyberattack (80%), their organization’s reputation (75%) and laxed safety protocols due to labor shortages (74%).

As an industry on the frontline of the pandemic, concerns for their employees were also top of mind including:

  • Safety of employees while driving company vehicles (81%)
  • The mental health of employees or volunteers (76%)
  • Workers cutting corners to save on time (73%)

Agent Authority Survey statistics around pandemic concerns for health care business owners

Amid these heightened concerns and a spotlight on the industry, health care business owners are focusing on protection — 78% considered changing their insurance company in the last 12 months and 3-in-4 changed at least one of their policies.

The majority of health care business owners (87%) want to work with an agent who knows the industry to meet their customized needs, but 78% report it’s difficult to find one.

Agent Authority Survey statistic says health care business owners think there's a need for more specialized insurance agents:

Opportunity: Learn the industry

With 88% sharing there’s a need for more agents with a vast knowledge of their organization’s industry, now is the time seek resources in learning the industry. Business owners are looking for more resources on:

  • Latest trends in their industry (41%)

Visit the Commercial Insight Center for trends and industry resources

  • Help with loss control/prevention (37%)

Share safety and risk expertise from My Loss Control Services

  • Help with fleet management (36%)

Promote safe driving with Vantage360

Opportunity: Share your expertise

If your agency knows the health care industry, make sure you’re promoting your expertise.

Now is the time to build relationships, share expertise and counsel clients as they prepare for a post-pandemic future.