Page 24 - BusinessWest September 28, 2020

their commercial insurance clients.
For example, several of Encharter’s restaurant customers reduced
their insurance coverage because so many of them closed in the early days of the pandemic. With most offering only limited service even now, Vassallo said her agency tried to help its restaurant clients in their time of need.
“When stay-at-home first happened, we went to all of our local res- taurateurs and purchased a large amount of gift certificates to try to help them keep going,” she recalled. To get the gift certificates out into the community, Vassallo used them as prizes in weekly and monthly contests Encharter ran on its social-media platforms.
Long said insurance companies are offering deferred billing and special payment plans to help companies that have lost business dur- ing the pandemic. One creative approach involves companies that need to take a vehicle off the road. They can now temporarily suspend the vehicle’s insurance coverage instead of ending it.
“In the past, insurance companies would not have agreed to do that,” Long said. “The business would have had to turn in the license plate, and if they suddenly needed the vehicle, they’d have to go through the insurance and registry process all over again.”
Trudeau added that, while some of his clients have been under pressure to reduce staff and sales estimates, others are doing more business. “We have a few businesses that are growing because of changing demands during the pandemic and people shifting their buy- ing habits.”
Not surprisingly, all three agency managers said videoconferencing on Zoom, Skype, and other popular plat- forms has allowed them to keep in touch with staff and customers.
Because HUB International has 28 locations in New England, Trudeau and his counterparts have been using conference calls and videochats in ways they hadn’t before — a trend he predicts could have a lasting impact.
“Instead of asking people to travel to a central New England location every quarter, they might choose to do that only once a year and have the other three quarterly meetings by vid- eoconference,” he said.
“We have a few businesses that are growing because
of changing demands during the pandemic and people shifting their buying habits.
Bill Trudeau says the increased adoption of videoconferencing platforms in his industry could have a lasting impact.
Our Investment Services Team:
Jack Vadnais, CERTIFIED FINANCIAL PLANNERTM, and Michael S. Johnson
We’ll Help You Pursue Your Financial Goals
• Investment Strategy and Management
• Estate Planning
• College Savings Plans and Custodial Accounts
• Mutual Funds and Annuities
• Long-Term and Disability Income Insurance
• Life Insurance
fcuinvestments.coop
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Freedom Credit Union and FCU Investment Services are not registered as a broker-dealer or investment advisors. Registered representatives of LPL offer products and services using FCU Investment Services and may also be employees of Freedom Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Freedom Credit Union or FCU Investment Services. Securities and insurance offered through LPL or its affiliates are:
Not Insured by the
NCUA or Any Other Government Agency
Not Credit Union Deposits or Obligations Not Credit Union Guaranteed
May Lose Value
Not Credit Union Guaranteed
Agencies
Continued from page 22
some cases, only slightly lower due to the pandemic, which has hurt a number of
”
When the pandemic ended the
walk-in traffic at Encharter, Vas-
sallo and her staff started to make wellness calls to keep in touch with clients.
“The calls had nothing to do with insurance,” she said. “They were simply a way to contact our customers during the early months of the pandemic to say, ‘we’re just checking in;
how are you doing?’” So far, she and her
2008265_FCU-InvestmentT eamBizWestResourceGuidePrintAd.indd 2 24 SEPTEMBER 28, 2020
8/31/20
staff have made more than 2,000 calls, and the effort has been well-received.
5:07 PM
Agencies
Continued on page 37
INSURANCE
BusinessWest
4.5x12