Providing insurance for nonprofits and social services


Looking to broaden your customer base to include nonprofits and social services organizations? Smart move – while nonprofits have their own unique risks, it is also a softening market that has a lot to offer.

However, the competition for coverage can be pretty fierce. As an agent, what can you offer a nonprofit in order to meet their needs and keep them happy? Here are a few things to know in order to make your partnership a success.

Budget is king – not price. Because so many nonprofits and social services are funded through grants and federal money, they must be very careful with insurance spending. You may think this means that as their agent, the best way to keep these organizations happy is to chase the cheapest quotes, but this is not necessarily true. Because most nonprofits operate on a yearly budget, retention is not guaranteed from year to year. If all the agent can provide is a low price, chances are the nonprofit will simply look for a lower price from another agent the next year. Some organizations even have policies in place that require them to shop around. However, if the agent provides other opportunities to protect and grow the organization, it can be very easy for them to keep the insurance part of their budget steady from year to year.

Preventative training and consultations. No matter the industry, it is the agent’s job to understand their client’s potential risks. But because nonprofits often operate on such thin margins, they may not have had the time or resources to truly consider their exposure. Additionally, employees and volunteers are often overworked and underpaid, making them more likely to make mistakes. That’s where you come in. Sharing your knowledge with workers by way of preventative training or consultations can add tremendous value to the organization you serve. If your services can help prevent a claim, it’s worth its weight in gold to the client.

They value their community and their passion. Leaders of nonprofits and social services are driven by a strong belief in the services their organization provides. They are passionate about their work and appreciate others who value their efforts. Small gestures on your part can show that you care about the same things they care about. For instance, you could mention the client’s accomplishments in your newsletter, assist in a fundraising campaign, or take out an ad at an event they are hosting.

Nonprofits and social services organizations make stable and rewarding partners for agents. By offering your insurance expertise, you’re not only growing your business, but supporting the important work of an organization that makes a difference in the community – and the world!




Carrie Charity Murphy is a freelance writer for Insured Solutions and Improve comedienne based in Louisville, Kentucky. She lives with her husband Ben and their two dogs, Sprocket and Ms. Brisby.
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