I was wondering if any independent agents have any advice on a new business workflow on commerical accounts. We have a good renewal, but we are looking to improve our new business workflow. Any suggestions?
Seems simple enough for small accounts. I generally have a marketing plan in force for each account with my AE. The application is completed and reviewed and sent to the markets we represent or have been assigned during the market/broker selection. For new business I like to handle the quoting process as opposed to putting that on the CSR. Often the biggest part of the sales process is the sales job you do on your underwriters... selling them that this is a good account that they want to write and that they want to keep long term. Also doesn't hurt if they know this is not an account that wants to move all the time so taking the account right now is in their best interest. Selling to the client is only half the battle... you also need to sell to your UW's and I would rather be the one doing that than my AE or CSR.
The producers job is to produce new business and the CSR/AE is mostly dealing with day to day service issues and smaller renewals. I will ask for some help if there is a large auto fleet or some other detail oriented task that is a poor match for my short attention span... but I prefer to control the quoting process from first meeting to bind order before passing it off to the AE or CSR who will then come with me to meet the client face to face when we are delivering the policies shortly after binding coverage so they are comfortable with them handling the day to day service needs.
For a small account that fits into my standard market appetites... it could be as simple as rating one carrier online and calling with the quote. For a large multiline account the full marketing plan (with fallbacks B,C and D) are in order. For renewals... sharing the marketing plan with the insured 120 days out often keeps the competition at bay as the insured knows you are working hard and have a plan in place so they don't feel the need to "keep you honest" as often. I have had some underwriters offer a 5-15% discount 90 days out if we won't remarket the account... that saves a lot of time and energy for the insured, agency and carrier if they are all on board. For new prospects... showing them a marketing plan that details current market conditions, rates offered to similar types of accounts, etc. is often more than their current agent is doing... so you already have an inside track by looking more professional and transparent that the guy that shows up 3 days before the renewal with only numbers from the incumbent carrier.
JMO... but I like myself and my producers to control the quoting process. It is their job to sell the account to the UW's and the quotes to the clients. After it is bound... they can move on to the next one.
