The COVID-19 pandemic has massacred business owners big and small all over the world. Based in the Midwest of the United States, Sumedh Basani has an expansive insurance network that stretches all the way to the west coast. Here he shares his story of how he still profited during 2020 despite the economic impact of the COVID-19 pandemic. Sumedh Basani operates in the private insurance sector as an insurance broker. He is the owner of Basani Financial and works as a consultant with many large brokerages to increase sales, maximize workflow, and grow the business. Representing multiple companies and combining the front end of industry tech with a plethora of competitive products, Sumedh’s agencies helps clients find cheaper rates, quicker service and effortless representation in the insurance industry. Despite the strength of the insurance industry, many businesses in the insurance and business sector suffered from the pandemic but Sumedh’s did not. So how did he do it?
The thing that placed Sumedh ahead of the pandemic was his massive focus on technology and diversification of insurance application processes. Many insurance organizations use “old school” methods that rely on mail and in-home application methods via pen and paper. As an expert of phone sales and lead generation, Sumedh was able to locate clients and deliver them contactless insurance policies. Although this was already a trend in the insurance industry Sumedh took it to the new level. By offering remote work from home opportunities for insurance agents he was able to amass a large force of remote insurance agents. In addition by marketing contactless application methods Sumedh was then able to bring these remote agents more business for their business.
Despite the pandemic’s financial impact Sumedh still received a large customer reception for all of his insurance marketing. Sumedh attributes this to the nature of insurance as a product, “Insurance is one of those products that has always stood the test of time. When times are tough people focus on needs rather than wants. This pandemic hit us on major areas in our life such as health, finances, family, and security. People lost a lot in each of those areas and the only product that protects all 4 of these areas is insurance.” These reasons allowed entrepreneurs like Sumedh to continue to grow business and provide opportunity for his agents. For more information on his organizations and business visit his website.
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