Why CPAs Should Offer Insurance Services

All Certified Public Accountants get to know many financial things related to the clients and firms they are serving. This enables you to better serve financial products like insurance, since most of the requisite information related to selling insurance policies to clients is already known through audits and financial statement analysis. As a CPA, you are in a unique position to sell the right products to the needy customers, saving clients’ money and time.

CPAs have the necessary edge to provide better Insurance products

Financial products are accessible to everyone, but the value you offer to clients is the ability to suggest the right products that solve client’s financial problems. A small business will have different needs than a larger company. Offering insurance products to clients that solve their financial problems is a natural progression.As part of selling insurance products, a broker has to gain clients’ perspectives and their goals when it comes to buying insurance products. A CPA is one step ahead in this goal, as you already have a deep understanding of your client’s financial standing and goals. From there, you can make helpful recommendations to help protect your clients’ assets.

Insurance as a financial planning tool

Another value that you provide to your clients is a holistic approach to financial security – one in which the right insurance products can play a vital role.  In a fast-phased world where most communication happens through digital channels, insurance providers often don’t spend the time and effort needed to truly understand client’s business, personal and financial means, as well as the background information necessary to suggest the best solutions. On the other hand, a CPA’s relationship with a client does not end with one day or two days’ relationship – it stays active for years in most of the cases. This gives you the perspective needed to make the best suggestions to their clients.

Offering insurance services provide CPAs a broader range of services to clients, thus helping to buoy their own business. By diversifying your offerings, you ensure the longevity and profitability of your business while saving your clients time and effort as well.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

*