Can someone give me some commercial carriers that can get very aggressive on pricing if needed? I have Travelers, CNA, and Utica. I need to compete with Nationwide, Erie and a few others that seem to be very strong on the pricing side. Oh, I'm in NC. This is my first post, so take it easy on me. I was a captive for the last 7 years and have finally seen the light. Any help would be greatly appreciated.
Commercial Carriers
- Thread starter EWAONE
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get the current dec pages and send to the U/W's, if they are hungry and want that type of business, they will beat that ratIf a carrier is kicking your ass, then the smart move is to go out and add that carrier to your agency.
As an Erie agent, it is going to be tough to beat those rates because I can get enough credits to beat just about everybody I quote, even though they are a bit nit-picky.
I'm not sure how Nationwide is in NC but slogan should be "Nationwide is on the other agents side" in VA.
I am a huge fan of Philadelphia....
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Thanks guys,
I was with NW and they were very aggressive when they wanted it. I just got beat on an account that I wrote while at NW and the mentioned companies didn't seem to be willing to get me where I needed to be. Thats why I was asking. I will still get this account, but it will have to be on the next renewal. I just want to have the weapons I need to beat NW when it comes around again!
I was with NW and they were very aggressive when they wanted it. I just got beat on an account that I wrote while at NW and the mentioned companies didn't seem to be willing to get me where I needed to be. Thats why I was asking. I will still get this account, but it will have to be on the next renewal. I just want to have the weapons I need to beat NW when it comes around again!
Welcome to the form. I'm also in NC. The appetite of the carrier is what is going to be the biggest thing, no company is always going to win. Would you mind telling me the industry?
What part of NC are you in? Feel free to PM me once you get enough posts if you want and we can discuss.
What part of NC are you in? Feel free to PM me once you get enough posts if you want and we can discuss.
- 160
Sell a policy on pricing and lose it on pricing. The key is talking about coverage and giving them good value. Pricing will always play a factor, but those who only buy on pricing make the worst clients, have high loss ratios and agents who serve these type of clients make a much lower hourly rate than the agencies that focus on coverage. I am not saying this to put down the origional post in any way, I can understand as he want to grow his business, however it will come back to bite an agency that is driven on price.
I use price to show I am in the ballpark. Once I establish that I often rip a policy to shreds and redo it so it looks better. It's just hard comparing apples to oranges so by showing a similar policy and being of similar price, you show you are going to be just as good, if not better, than the last agent.
It doesn't mean you have to beat the price, by any means. But a carrier does a lot to make sure they get the business that they want.
It doesn't mean you have to beat the price, by any means. But a carrier does a lot to make sure they get the business that they want.
- 160
I don't think it is productive to "rip a policy to shreds" - wouldn't you agree it's just be not professional to rip anyone or any policy and instead professionally compare why the product you are offering them will provide superior coverage? I personally don't think this is good aproach for the agency system. I would prefer to tell a client "I am not to sure why your current policy doesn't cover this or why you are gent overlook it..." the prospect will read between the lines and consider it more professional than ripping through anyone.
When I say rip to shreds I mean rebuild a policy for the client from the ground-up. Better coverages, different exclusions, whatever is needed. A lot of people get the cheaper thing to start a business and leave it that way, but then when they are more established they have different risks. However, some agents I find just call around renewal, ask if there are any questions, and call it a day.
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AE, everyone understood, he meant "rip a policy to shreds was a figure of speech.......
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