Writers and insurance agents often ask me for advice about staying safe online. Why? Because I’ve written and presented many online classes about security and trends in the cyber sphere. In this post, I provide you with reliable cyber resources and my Top 5 Tips for Staying Safe Online.
Reliable Resources
One of the first things to keep in mind when conducting research is to verify the reliability of your sources. This means you must seek out objective resources.
Norton, McAfee, and Bitdefender appear in the lists of nearly all online reviews for the best antivirus software available. However, I wouldn’t use a review published by any of these companies as a resource. Why? Because each will be biased on its own behalf. And rightly so! If a company doesn’t have confidence in its own products, why should we … or anyone else?
Over the years, I’ve compiled a list of American companies that talk about computers, technology, and cyber security. None of these companies (to my knowledge) manufacture or sell security software. Therefore, they don’t have a vested interest in the products or companies they review. (Unless, perhaps, if they accept advertising revenue–which I haven’t researched.)
When I look for reviews about the best of anything–i.e., antivirus software, password managers, VPNs–I look to my list of resources. I also look to them for information–such as about multi-factor authentication or passkeys. My list includes (in no special order) pcmag.com, techradar.com, wired.com, tomsguide.com, cnet.com, zdnet.com, digitaltrends.com, lifewire.com, pcworld.com, and lifehackers.
When I conduct research about anything, I visit at least 5 of these sources to obtain a consensus–if one exists. If one doesn’t, I obtain information from all the sources on my list and make my own personal best judgment.
NOTE: No matter what I’m researching, or for what purpose, I always check a minimum of 3 to 5 sources to confirm the veracity of the information I use.
Tip #1 for Staying Safe Online
Use anti-virus software. And use it on ALL your devices that connect to the internet. This includes computers, laptops, notebooks, smartphones, webcams, treadmills, smart TVs, EVERYTHING.
Anti-virus software runs in the background and scans your devices, networks, and servers. It identifies malicious software (malware) such as viruses, worms, and Trojan horses. It also limits the spread of malware and can detect ransomware, spyware, adware, keyloggers, bots, rootkits, and wipers.
If you want to know what these terms mean, you can visit glossaries at NIST.gov and Fortinet.
Tip #2 – Password Security
Yes, you’ve heard all about passwords. You probably think you know all you need to know about them, as well. You’re probably wrong–and it’s not because of anything about you. It’s because technology and the bad actors who use it change at the speed of light.
Security measures that work today may not work tomorrow. As soon as the good guys figure out how to thwart the bad guys, the bad guys circumvent the newly designed measures.
Once upon a time, an 8-character password was considered secure for staying safe online. Now, the minimum recommendation is 16 or 20 characters, depending upon who you talk to. The developer I work with uses a 50-character minimum password whenever he can.
The image below provides a snapshot of what you want to avoid when choosing a password. Of all the bad things you can do, though, using the same password on 2 or more sites is the absolute worst! Experts report that the 3 characteristics making us most vulnerable online are:
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With estimates of insurance fraud exceeding $300 billion annually, most insurance agents should be asking themselves Who commits insurance fraud? If we understand the profile of both victims and perpetrators, we can better help prevent this crime.
Who Commits Insurance Fraud?
Depending upon who you talk to, you’ll receive a different explanation of what fraud is … and what it looks like. Legally, different definitions apply based on whether federal or state law applies, and the specific circumstances.
Generally, the following elements must be present for the crime of fraud to take place:
A person must deliberately make a false statement
That same person must have no concern for the well-being of the victim
The victim believes the false statement made by the fraudster
The victim decides and acts based on the belief that the false statement made by the fraudster is truthful
The victim suffers harm because he or she acted upon the belief in the fraudster’s false statement
“Fraud” is any activity that relies on deception in order to receive a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary).
Experts categorize fraudulent acts as either hard or soft:
When one or more individuals create an entirely fictitious scheme, they commit hard fraud. They craft the scam like a novel, with some schemes being complex and nuanced while others are amateurish. Staged auto accidents are the classic example of hard fraud in the insurance industry. For instance, fraudsters form a criminal network comprised of drivers, injured passengers, doctors, lawyers, tow truck drivers, and others. They choreograph the car crash and performed it in accordance with a script.
Afterwards, the bad actors submit medical bills and other receipts to the insurance company seeking “reimbursement” for actual, exaggerated, and phony injuries and damage. The fraud ring pays each participant dependent upon the role played in the scheme. Drivers and passengers receive the smallest amounts; doctors, lawyers, and ringleaders receive the greatest amounts.
Soft fraud is an opportunistic act. It takes place organically when the fraudster stumbles upon a situation and takes advantage of it. One of the most popular forms of soft insurance fraud is known as padding. This crime takes place after a legitimate loss occurs and the claimant submits a claim. Then, the claimant inflates the value of the damage or adds items to the list of damaged or stolen property that were not actually damaged or stolen.
The Victim and the Fraudster
Profile of a Fraud Victim
Most perpetrators of fraud seek personal gain. In many cases, they want money; however, they may also be looking to acquire property, power, or influence.
Research shows that most fraudsters choose their victims carefully, and based on certain traits. Clearly, the type of fraud committed influences the selection process. A fraudster wanting to swindle an insurance company will exhibit different behaviors than an insurance agent wanting to con a client will.
Generally speaking, fraudsters target victims in all age groups; however, they target people over age 50 are more often. Fraudsters view certain characteristics as favorable, such as being a risk-taker, impulsive, and inattentive. Possessing high levels of financial education and living with a chronic medical condition are also traits widely sought by fraudsters. In a majority of fraud cases, the victim actively participates in the crime, if unknowingly.
Profile of a Fraudster
The motive behind acts of fraud isn’t complex: Fraudsters simply want to receive a benefit. What sets them apart from the rest of us is that they’re willing to lie and break the law to get it.
I’ll talk about how fraudsters go about committing their crimes in the next section. Before I do, I’d like you to know that the ACFE has conducted extensive research and study into not only fraud but also the people who commit it. Their Profile of a Fraudster cites data from more than 2,000 cases of fraud, including:
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When a client states he can only spend $500, the subject is not all about price.
Oh, that’s what most people think the topic of conversation is. But it’s not.
I’m here to explain why people honestly and sincerely believe in this fallacy. I’m going to show you how you can accept your clients’ objections about price and also explain what the real topic of conversation is.
It’s Not All About Price, It’s Really About Value
I had the “it’s all about price” conversation last week during an insurance class I taught. Many students insisted their clients refuse to listen to advice about what policy or coverage to buy. They swore their clients simply want to purchase the least expensive policy available.
I believe that’s how the conversation often goes between these agents and their clients. I just don’t believe their clients really mean what they’re saying. When agents buy into this scenario, they’re actually handicapping themselves and their clients.
This story plays itself out in every business industry and consists of two foundational elements:
People who don’t understand what they’re buying focus on what they are familiar with: cost.
People who don’t know how to sell value have only one commodity to offer: price.
People who focus on price do not understand The value a product holds. This is true of both the buyer and the seller!
If a client says, “I can’t spend more than $500 a year,” we should accept and respect that statement. I don’t advocate for pressuring clients to spend more money than they have or are comfortable spending.
Some clients do truly have financial constraints. And you know what? Their financial situation is theirs. We’re not responsible for advising them about how to manage their money.
It’s our job to offer them the product that best meets their stated needs. It’s their job to state their needs and make the final decisions. In a sense, we’re professional matchmakers. We show clients the value in what they’re buying and help them spend their money wisely by matching a product to their needs.
Extolling the virtues of the product–whether it’s an insurance policy or a refrigerator–is NOT the best way to go. That’s telling, not showing.
The best way to determine value is to allow the customer to do so. You can get the ball rolling by asking a single question:
What do you want to spend your $500 on?
I promise, it’s better for the client to realize on his own that he can’t answer the question because he doesn’t understand how the policy works. Much better than you spouting your superior knowledge and him feeling … inferior.
How will the client respond? With a deer-in-the-headlights look. Complete silence. Befuddlement. Or in a similar fashion–generally without words.
Why will he be so surprised? Because he’ll expect you to argue with him. To tell him he has to spend more than $500 to get a good policy. Or, at the very least, he’ll envision you jabbering insurance jargon.
In his wildest dreams, he will not suspect you’ll make him and what he wants the topic of conversation.
This eye-opener is the first step toward establishing value. You show the client you not only know how to listen, you also do it. Which means you care. Caring is value.
Next, the client will realize you just put him in the driver’s seat. More proof that you care. More value.
Although he’ll be driving, your client won’t know where to go. He’ll need you to navigate for him. So, he’ll say something like: Huh? What does that mean? or I don’t understand. A wiseguy, or someone who’s defensive might say: What the hell are you talking about?
Regardless, any of these responses launches you into the second steptoward establishing value.
What Does Your Client Value?
In many cases, your client won’t have a clue about what he wants, needs, or holds dear. This is especially true when clients buy insurance because they’re forced to do so. Like by a mortgage company, the state workers’ compensation laws, or a fearful spouse.
Here are two non-insurance situations that clearly show how people value products differently.
#1.
Let’s say a brand-new smartphone costs $1,000 and is on sale for $500. One woman might think both prices are too high because she seldom uses her phone. She’ll opt for an entirely different model that costs $400.
Another woman might grab the phone that’s on sale, thrilled to take advantage of the 50% discount.
A third woman might not like the requirement to opt-in to a three-year contract to get the 50% discount. Instead, she’ll pay $1,200 upfront to buy a different model without a contract.
#2.
Assume the cost difference between a case of 1-ply and ultra soft toilet paper is $10. Most people will happily pay the extra money to pat their bottoms with clouds rather than sandpaper. However, a fellow with septic problems will tolerate the sandpaper if it helps him postpone having to install a new system that’ll cost him a minimum of $25,000.
Let’s get back to the critical question: What do you want to spend your $$ on?
Once your client finally answers the question, you say something along the lines of:
Insurance policies pay for certain types of claims. First, give me a list of the claims you want the policy to pay for. Next, I’ll tell you what coverages will pay for those claims, and I’ll give you the associated costs. Then, you tell me what coverages you want to spend your $500 on.
In some cases, $500 will be more than enough to cover the cost of what the client wants. If so, it’s a win-win: client gets what he wants and agent makes a sale to a satisfied customer.
In other cases, $500 won’t be nearly enough. If so, the agent can make this into a win-win for everyone by letting the client figure things out for himself.
Let the client prioritize the types of claims he wants to be covered. Let the client consider different amounts of coverage to raise or lower the associated costs. If he sees no value in a coverage or feature, he’ll kiss it goodbye. If he finds value in a particular coverage, he’ll be willing to spend more money.
Unless he doesn’t have the money. Admittedly, this happens. And in certain economies it happens a lot more than at other times. However, in my experience, it occurs far less often than not understanding value does.
Clearly, this is a simplified explanation. For a more detailed illustration about how to help clients determine value, check out What Do Clients Want?
No, It’s Not All About Price
We tend to make quick judgments about our clients and their needs. Here’s a final, classic example to illustrate my point:
The agent is writing auto insurance for his client, a family that consists of father, mother, and adult daughter. Each family member owns and insures his/her own vehicle on a separate policy.
When discussing the available coverages, the agent assumes Rental Reimbursement Coverage isn’t necessary. Why? Because if one of the vehicles becomes undrivable, the family still has two vehicles that are. Therefore, the agent suggests each family member save $50 per year (a total of $150) by NOT purchasing this coverage.
The problem: The agent assumed the clients’ primary concern is money rather than asking what their needs and priorities are. A family’s collective ownership of three vehicles does not automatically equate to all three vehicles being available whenever a family member needs a car.
Mom’s car may be used to commute back and forth to work … at a location 40 miles from home.
Dad’s car may have a standard transmission, and he’s the only family member who can drive a stick shift.
The daughter may be a single mother of three children under age five who absolutely MUST have a car available at all times.
Maybe the parents are retired and all too willing to let their daughter use one of their vehicles if hers is totaled in a car accident.
Regardless, our clients should decide what their needs are … and what value they place in the products we help them choose to buy. Because no, Virginia, it’s not all about price.
Feel free to share your comments and viewpoints below.
Do you think you might benefit from insurance mentoring & coaching? Would you like more clarity and support as you navigate the insurance industry? If so, you don’t have to face the journey alone.
I provide practical mentoring and coaching to insurance professionals that helps them communicate clearly, serve clients better, and build sustainable success.
You might be interested in my insurance mentoring & coaching services if:
You’re new to the industry and want to master its complexity
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I tailor each relationship based on the individual’s unique role, needs, and goals. We’ll focus on you and the situations you face; I’ll provide real-world experience based on my firsthand knowledge of the industry.
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For more information, check out the following video or visit the Membership page on my website. Once you join my membership community (there’s no cost for doing so), you’ll be taken to your Membership Dashboard. From there, you can access the exclusive content and request free mentoring services.
I find more inspiration and motivation in writer collaboration than from any other pursuit. Are you one of those writers who agrees?
Do you feel more in sync with other writers than with, oh, the people at work? Or your accountant? Do you find it easier to brainstorm with folks who don’t scoff at the ideas you come up with? Especially when those ideas might occasionally focus on topics such as the different ways one character can poison another?
If so, consider joining my membership community and attending Craft Chat meetings. We:
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Work to become better storytellers and/or refine our writing styles and voices
Love the synergy of a small, intimate group
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In addition to the regular posts on my blog, I post exclusive content for my members. For me, it really is all about writer collaboration. At the Craft of Writing level, you’ll find craft tips, videos, how-tos, and information shared by other writers. Recent posts include Birth Order Characteristics and Creating Character Profiles.
You’ll also find downloadable forms, such as character profile templates. I upload new content on a regular basis, so keep checking back.
Craft Chat: The Place for Writer Collaboration
I offer access to monthly Craft Chat meetings to members of my community. They offer a casual but structured environment where we chat about our craft, the challenges we face, and our continued progress. My hope is for each writer to connect with one or more other attendees, without pressure, to find what he or she needs.
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