Exceptional Service in Insurance Financing: Key to Success
In the fast-paced insurance industry, timely responses are crucial, particularly during the policy financing stage. Jordan Aravena, relationship manager at FIRST Insurance Funding of Canada and recipient of Insurance Business Canada’s 2024 Business Development Manager of the Year award, emphasizes that success goes beyond just speed. As nominations open for the 2025 Insurance Business Awards, professionals are encouraged to recognize peers who set new benchmarks in service, strategy, and leadership.
Service that Starts with ‘How Can I Help?’
For Aravena, standout service means being available, consistent, and reliable. “Great service is first and foremost being available to support and deliver on what you’ve promised,” she explains. In premium financing, where time-sensitive requests are common, Aravena prioritizes tasks based on key dates like effective dates and payment deadlines. “If you ask a broker, every request is urgent,” she notes with a smile. “But of course, you have to prioritize.”
Education as a Key Component
Timeliness is just one aspect of success. Aravena stresses the importance of education in her business development approach. Companies offering financing solutions must ensure brokers have access to necessary tools and resources to effectively communicate product benefits to clients. “Premium finance is a very niche area of insurance,” Aravena explains. “A lot of brokers and clients aren’t educated on what we actually offer.” She often finds herself debunking myths about premium financing, such as the misconception that it’s a standard loan. In reality, premium financing arrangements through FIRST Insurance Funding of Canada are secured by the insurance policy itself, with premiums serving as collateral.
Tailored Support and Consistent Values
While Aravena maintains a consistent service level across brokers, her approach is not one-size-fits-all. She adapts strategies based on a broker’s client base, premium size, and growth sectors. This tailored support includes customized training sessions and workflow recommendations, ensuring brokers feel supported in every client interaction. “My approach is very similar across all our brokers, and I always make sure they’re supported with whatever they need,” Aravena said.
As the insurance industry continues to evolve, professionals like Aravena set the standard for exceptional service and leadership. The 2025 Insurance Business Awards are now open for nominations, providing an opportunity to recognize outstanding contributions to the industry.
