Direct Appointment with Carrier

[DivineFoodie]

I definitely think that with auto and home quotes, time is of the essence. However, for a business that may have varying products like: BOP, WC, Liq Liab, etc, and if you are saying you are looking at a lot of carriers to ensure you get them the best 'value' for their premium, then I suspect, as a business person, they would be able (and a bit more willing) to wait a day or two for a quote, as it may either, save them money, or provide more coverage for the same price they are currently paying.

 

[MINewBeginning]

I definitely think that with auto and home quotes, time is of the essence. However, for a business that may have varying products like: BOP, WC, Liq Liab, etc, and if you are saying you are looking at a lot of carriers to ensure you get them the best 'value' for their premium, then I suspect, as a business person, they would be able (and a bit more willing) to wait a day or two for a quote, as it may either, save them money, or provide more coverage for the same price they are currently paying.

My goal now will be for personal line-auto and home. Not looking to get into business insurance yet, probably a year or two. That's why instant quote and binding will be crucial.

 

[nyc2phi]

did you try SIAA cluster?

 

[DivineFoodie]

My goal now will be for personal line-auto and home. Not looking to get into business insurance yet, probably a year or two. That's why instant quote and binding will be crucial.

I hear you, and with personal, time is definitely critical. I'm the opposite though; I am going to do P&C, but in specific niches for business policies. I have a friend who does personal lines, and it definitely works for her personality.

 

[Underwriter2Agent]

indy, I agreed with you. As a professional I need to act professionally and conduct my business professionally.

Just by delaying in quoting a prospect is a huge negative to me.
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Thanks. How would writing business on his book help me prove to prospecting carriers my volume? P&L report?

Well let me ask another question before giving you my opinion on the subject. How will losing all the business you can possibly write with multiple carrier options prove your worth to anyone?

In my opinion if you find the right Agency, you keep track of the business you place with the agency, obviously with a possible option of taking it back. Then when you approach the direct appointments and tell them you have had to place business somewhere else and are able to show your BOB it goes a long way. Most marketing reps want to see business on the books and being you don't have your own options to place the business isn't it better to be able to write more clients at a split verse losing the majority to other agencies with more options? I followed this road and paid the price and can tell you I am happy I did.

 

[MINewBeginning]

Well let me ask another question before giving you my opinion on the subject. How will losing all the business you can possibly write with multiple carrier options prove your worth to anyone?

In my opinion if you find the right Agency, you keep track of the business you place with the agency, obviously with a possible option of taking it back. Then when you approach the direct appointments and tell them you have had to place business somewhere else and are able to show your BOB it goes a long way. Most marketing reps want to see business on the books and being you don't have your own options to place the business isn't it better to be able to write more clients at a split verse losing the majority to other agencies with more options? I followed this road and paid the price and can tell you I am happy I did.

I can keep track of all businesses I placed with an agency, will I be the agent of record. If not, how would I show my BOB to potential carriers later on in trying to obtain direct appointment? They will want some kind of verification.

 

[nyc2phi]

I can keep track of all businesses I placed with an agency, will I be the agent of record. If not, how would I show my BOB to potential carriers later on in trying to obtain direct appointment? They will want some kind of verification.

With a sub code from the carriers you are writing business with, the agency you work for will have to ask the carrier for one

 

[indywithavision]

Placing business with an established agency was the only way for me to get started as an independent P&C agent. I have several direct appointments with L&C carriers, it's a pretty simple process. But, I've found that it can be tough to even get a call back or an e-mail from P&C carriers if you don't already own an established agency. Some agencies will allow you to place business with them with out being captive to the agency. That is how I got started. I place my P&C business with them and they take a cut of the commission but also service the clients. It's not ideal because I'd run the place a lot differently but I don't own it yet.

You may be able to start from scratch with SIAA or buy an existing agency if you're properly capitalized (I'm not) but working for a State Farm agent and with an independent agency later has helped me learn a lot about what to do and what not to do so that when I'm built up I'll be ready.