Moving your self storage Insurance to StoreProtect with Basil Fry

Okay. Hello everybody. I'm joined here by Adam and we're going to have a quick chat through the upcoming changes to how insurance is handled for anyone who's a Basil Frye customer. So we have an article online which will be a link. You're probably on that article if you're watching this or there'll be a link below the video if you want to have a look at the detail. But this is really a step by step guide to the changes you need to make when you're moving from insurance sales to Store protect. Okay, so this change is happening. There's also another change happening with the SSA where they're introducing storer check. So this is all taken into account. So Basil Fry have Adam's able to provide a contract if you're taking on storer check or not. So talk to Basil Fry in one of the steps later about that. Before we get into the steps, just to talk briefly about why contracts with Stora are different to the traditional SSA contract or contracts you medicine elsewhere. So the reason is as an operator ourselves, you know, four or five years ago we were trying to work out like how do we make this simpler. One of the downsides about the detailed contract I found early was that some of the details can change while the customer is there. So things like how much they're paying every month, what unit they're in, those sort of things can change. So I wanted to get rid of that administrator and also filling it out. It's quite a time consuming process at the start as well. So we started off with thinking, is there an easier way to do this? And we came up with, we explored it and explored it with Basil Fry and also Renny a few years ago and figured out, well, if we refer to all this information that's in the store assistant customer has access to, then we think we can get to a contract that will be just as effective but also hopefully solve some of these problems around just being time consuming. So that's what we've got to and that's what we're going to go through now. That's what we have with Basil Fry and we'll go through that now. Okay, so you're with Basel Fry and you're moving to Store Protect. What do you need to do? Okay, so Adam, jump in here. But step one is get in touch with Adam or whoever your contact is at Basel Fry to renew your policy. Your contact at Basil Fry will also give you, if you tell them you're a store customer, they will give you the new Contract. So it's going to be a contract for you to use and that there'll be options there. One option is with Storer check the SSA feature. One is without it, depending what you're going to do. So your Basel Fry content will give you the contract at that stage. Also, if you ask them for the email content, which is later on in one of the steps, you're going to have to let your existing customers know that they're moving from insurance to store protect. You need to email them with specific content and your contact at Basil Fry will provide you with that email content as well. So far so good, Adam.

So far so good. Yeah. Just to give a bit of context about timing, ordinarily you do require a bit of lead time to get this worked out. So your account executives at Basil Frying company will be in contact with you well in advance if you're actually needing to make the change. Ultimately the change should be tied to your renewal date of your of your customers goods policy. So our guys will get in touch with you well in advance to make sure that everything's all sorted out and you're good to go in good time.

Great. Yep, great. Okay, thanks Adam. So then the version of the contract that you'll see from Basil Fry will have some fields you need to complete, like the name of your company, your address, probably some contact details on there, opening hours I think is on there, things like that and that will be highlighted. So you fill that out, get the contract to the point that you're happy with it and once that's ready, then it's a matter of getting uploaded to whatever system you're using for people to sign contracts. So if you're using Sign now, which lots of our customers are using, go to your Sign now account, create a new contract and get uploaded and add the correct fields where they need to be put as well. So yeah, step three, upload that contract to your system. That will then create a new URL which you'll need to add into your store system. So if you paste that in here, there's actually a link here directly to that in your store system where you can go and upload it. So that's what putting your contact link in there. Step four is you're going to have to update your online wording. So that's for the checkout to make sure that everything's being done correctly. So this is what you may have at the moment. And we'll upload this, we'll update this to show you what it's what it's what it should be. But first of all, if you contact Stora Support to let us know that you're moving from Insurance to Store Protect with Basil Fry, we will make a change to your, to your account which will automatically change all the wording at the checkout. So for the tick box and any reference on the checkout page to insurance will change to Store Protect. So that will, that will take care of that. But there will be other areas on your website probably where you refer to insurance. You might have a, might have content on your homepage talking about insurance. That's up to you to go in and update and check because that's wording that you've typed in yourself. Go in and just check your whole website and make sure you've changed anything positive insurance to protection. Now if you have an insurance page, which you probably will have, that will automatically be updated to a protection page. But go and check the content on that page as well. Make sure that that is correct too. Okay Adam, so far sounds good.

Yeah. We've actually got a load of sample copy that you can use on websites just on your normal, normal sort of customer facing website. Not necessarily as part of the checkout process. If you've got FAQs or a section that says, you know, we can sell insurance and what have you, we've got some standard sort of template copy that you can use for that and amend it as you see fit.

Great. Okay. So at step one you could, you could ask for that from there.

It's part of the pack actually. Yeah, there's some appendices. We tend to give everything at the very beginning so you can see context for the entire customer journey. So when we send you the Regulatory Update and Store Protect introduction pack, that's what it's called. There are some appendices and at the end it sort of shows, shows some, some useful examples of the website content and FAQs that are mentioned. There's some customer sales scripts and a few other bits and pieces in there that probably give the whole thing a bit of context and be helpful to read up front as well.

Brilliant, brilliant. Okay, that's great. And so that's also related to, you know, it's important not just to change all the stuff on your website but also train your staff, make sure your staff know that the wording now has changed and that's, you know, providing it verbally and anywhere else to customers. That's an important step here as well. Step five then. So we're, there's a, there's vat on insurance sales. Now there's no ipt, sorry, there's VAT on Store Protect sales, whereas there was IPT on insurance sales. So you need to go into your store system and change that for new customers. So you want to be changing IPT to vat. There's a step by step guide here on how to do that in Stora, so you can get that all done as well. So steps three, four and five are really about picking a date from which all new customers will start to go through Store Protect. One of the things I just forgot to mention is make sure that you let Basil Fry know the date you're making the switch to Adam. You're saying you'd make a change in the system that you need to do. So you need to make sure that Basil Fry know the date you're making this change.

Yeah, we need to notify insurers and issue an endorsement to policies. It doesn't change the cost of your policy or anything like that. It just is just an administrative amendment we need to make. And we'll be in regular contact with you throughout this entire process anyway. So we'll agree a mutually sort of practical date for launch through the discussions.

Great. Okay, so now you've got everything once you've got in place. So like let's say today, from today onwards all new customers are going to be going through Store protect. You have to then think about your existing customers. So now at this point you'd be ready to contact your existing customers with at least 28 days notice. I think Adam, depending on what your. Maybe some people's contracts say something else, But I think 28 is the minimum.

28 days is best practice. That's what the SSA recommends for all contract changes. There are different approaches. Shorter periods have been used by some operators, but 28 days is generally the accepted period.

Great. Okay, so if you let them know and then the content for that email will have been provided to you by your Basel Fry compact in step one. And there's a few different options for how you email customers. You can export them from Stora, you can email them directly from inside Stora one by one. There's a bit of detail here about how to do that. And then of course then 28 days or whatever number of days pass you've decided to do. And then you need to go in and change the sale from IPT to sales tax on their existing subscription. So there's a step by step guide here. Again like on this, about how to do that as well. And that's it, I think, Adam? Yes. Is there anything we've left out other.

Than just sort of generally speaking, if any questions arise that are, you know, unique there, any issues that are unique to your business that haven't been considered in this video or in the guide? Our account executives have been dealing with rolling out Store Protect for the best part of a year now. So, you know, we've, we've probably come across it before. We can work through it with you. If there's anything in the individual contracts that you don't like or it doesn't work for you operationally or you've got questions on or would like to tweak, have a chat with us and we can incorporate, I'm sure we can probably incorporate whatever's necessary.

Okay. And if any of our customers, I think there might be a few of our customers who have made the change to Store Protect but potentially haven't had this new contract that we've, we've worked together to create this to make sure we've got a contract that works well with Stora. So if they want that, they can just reach out to their Basel flight contact and get that contract off them and then they can upload that to the system.

Absolutely. Yeah, we can work it out.

Okay. Okay, Adam, thank you very much. That was really helpful. And yeah, if there's any questions, you can get in touch with me or Adam and we'll help you get things moved across.

Thanks very much.

Thanks.