Do You Ever Ask for AOR/BOR at First Meeting?

[iiinycboi]

So, i'm tired of being "rolled". And thought maybe i will take this approach.

I will ALWAYS ask insured to sign BOR when i meet them.

either, hey in order for me to take a look into your account i need you to sign this, or i wont be able to do it at all.

or, hey if you want me to leave you with my proposal, you'll have to sign this. Otherwise, i cant leave you my quote information.

From the insurance commander, he says he always ask them to. Anyone think this approach is good? Most of the time i'm competing against an indy incumbent so they have the carriers i have, that way they wont be able to access my quote? (In NY, it used to be "someone already submitted this get BOR," now if you generate the quote, the incumbent with the same carrier can just send the the paperwork to bind! ) ~what i've noticed anyways.

Also i think this makes them more committed into taking the first steps of hiring you.

 

[Scottyj]

AOR/BOR request is fine though I dont necessarily know how honest your approach is. I normally just dig for pain points... Since I work with a lot of contractors I just start asking about their policy and if their agent upon certificate request was able to supply them with the Blanket Waiver of Subrogation, Primary Wording, and Blanket additional insureds endorsement that they need for 90% of their work... 9 times out of ten my competitors who are jacks of all trades dont know they need to write the policy with these endorsements from the get go for many subcontractors... they end up taking several days to get it added.... BAM I have my fuel and say "Well with our agency we know to write your policy with those endorsements... you will never wait on us to win a bid or land a job because we know how to properly write your policy and service your needs... Now dont you want a Broker who is an expert and one you can depend on ?" they usually say yes and then I say, well you are in luck because I can do all of that for you, I can provide you with all the benefits and features a business owner like you deserves, I write for the same company you are currently insured by and would be honored if you would allow me to provide you with acceptional service. In order to do that I will need you to sign the Agent of Record Form which will make me your new broker. in the words of my two year old daughter " I Go Boom" and I get it !

 

[iiinycboi]

yeah, im concern if this approach may seem shady. I guess the insured wouldnt think i would take over their current account with the bor.

 

[JCK818]

On bigger commercial risks I have a client sign one. I just tell them this says you are giving me authority to shop around for you.

 

[iiinycboi]

JCK818,

what do you do if you cant beat the current rate or coverage. do you toss it away or send it in for processing anyways?

kinda moral grey area lol, but if they signed it their account should be yours right?

 

[JCK818]

Well I tell them that it looks like the policy they have is the best price currently. I offer to become their agent of record. I tell them that every year I will keep my eye out to see if another company will offer a better price. Basically I sell myself, get them to understand, they can have me as their agent and my services. Make them understand that nothing will change, just the name of the agent.

 

[saieddie]

On bigger commercial risks I have a client sign one. I just tell them this says you are giving me authority to shop around for you.

Sounds like misrepresentation to me. /.02

 

[nyc2phi]

I always thought went you have a client sign a BOR it meant that they are agreeing to now have you as the broker of record on the account.

So for example, you represent ABC company, your client already is insured with ABC and doesn't like his broker so he signs this BOR and you are now the broker and collect the commission.

Am I wrong?

 

[iiinycboi]

Thats what i means, you pretty much become their broker and service their account even if you dont switch their carrier.

you only service the account, no commission until renewal.

in the insurance commander, it says he ask for it all the time so he can go into his account get more info and see if they can do any changes.

I suppose this is a debate whether youre misrepresenting what a bor does?

I personally usually quote and if i cant beat the price, i pinpoint a problem on their quote and they always ask me to fix it, then i ask for the BOR.