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I'm posting this question due to a personal conundrum that occurred this evening. I'm not looking for any kudos or criticisms, just opinions and thoughts.
The situation/story:
I've been working with a prospect since maybe July of last year. Nothing time consuming, just sending quotes and touching base every few months. Their current home, auto, and umbrella policies were set to renew on 01/14/2012. Life happens and things get pushed aside, insurance usually being one of them. She calls me today in a panic and wants to get everything started today because she hasn't paid the current company. I asked her to calm down; her company has a grace period. I firmed up the auto and umbrella policies and a majority of the home(needed house pictures and a rebuild figure). I went to their house, got signatures for the auto and a check for entire 6 month policy. She did not realize our policies are 6 months vs. her 1 year auto policy. In reality, my auto policy is about $200 more expensive for the same coverage per year. She said it's too late and still handed the check over. I got back to the office and worked up the rebuild, which came in just a little less than her current coverage. Instead of uploading the auto in an attempt to force the home and umbrella, I sent her an email explaining there was no rush and that I had not uploaded the auto policy. I asked her to review the policies she has and the ones I've presented over the weekend. I want them to switch because that's what they want to do, not because of a time crunch. In doing so, I will most likely not get the business. Their current company is a good company and I believe when they compare the premiums, we're more expensive. She sent an email thanking me for not uploading the auto and telling them to take their time over the weekend to review their options. She wrote she appreciated my integrity and honesty in giving them the weekend to think everything over.
Granted, I won't know the outcome until Monday, but I'm fairly certain price is going to trump integrity. So, can you have integrity and feed your family/build a big book of business? Realistically, I could have uploaded the auto, written the home and umbrella tomorrow. Sure, they'd have been a little apprehensive and had some buyers remorse, but over time that would dissipate. I call my insureds at every renewal to keep in contact.
I'm fairly indifferent to the situation as I did what I believe was the right thing to do and losing this one policy won't break the bank. In doing so, I earned $0 for a few hours of work. Have any of you made a similar decision and had it work out for the best in the long run? I've not been in the industry long enough to see if integrity pays greater dividends in the long run.
The situation/story:
I've been working with a prospect since maybe July of last year. Nothing time consuming, just sending quotes and touching base every few months. Their current home, auto, and umbrella policies were set to renew on 01/14/2012. Life happens and things get pushed aside, insurance usually being one of them. She calls me today in a panic and wants to get everything started today because she hasn't paid the current company. I asked her to calm down; her company has a grace period. I firmed up the auto and umbrella policies and a majority of the home(needed house pictures and a rebuild figure). I went to their house, got signatures for the auto and a check for entire 6 month policy. She did not realize our policies are 6 months vs. her 1 year auto policy. In reality, my auto policy is about $200 more expensive for the same coverage per year. She said it's too late and still handed the check over. I got back to the office and worked up the rebuild, which came in just a little less than her current coverage. Instead of uploading the auto in an attempt to force the home and umbrella, I sent her an email explaining there was no rush and that I had not uploaded the auto policy. I asked her to review the policies she has and the ones I've presented over the weekend. I want them to switch because that's what they want to do, not because of a time crunch. In doing so, I will most likely not get the business. Their current company is a good company and I believe when they compare the premiums, we're more expensive. She sent an email thanking me for not uploading the auto and telling them to take their time over the weekend to review their options. She wrote she appreciated my integrity and honesty in giving them the weekend to think everything over.
Granted, I won't know the outcome until Monday, but I'm fairly certain price is going to trump integrity. So, can you have integrity and feed your family/build a big book of business? Realistically, I could have uploaded the auto, written the home and umbrella tomorrow. Sure, they'd have been a little apprehensive and had some buyers remorse, but over time that would dissipate. I call my insureds at every renewal to keep in contact.
I'm fairly indifferent to the situation as I did what I believe was the right thing to do and losing this one policy won't break the bank. In doing so, I earned $0 for a few hours of work. Have any of you made a similar decision and had it work out for the best in the long run? I've not been in the industry long enough to see if integrity pays greater dividends in the long run.
