Do You Take on All Business Even if You Haven't Done It Before?

[Soaringagent]

Just wondering if you get a referral for a commercial client that is looking for insurance, but you don't have experience in that industry.

Do you refer it out to another agent?

 

[nonstandard4me]

Is it something bizarre that you do not have any idea on or just a different class than you normally work with? Can't you reach out to someone to ask questions before you punt? There has to be a way. At some point you had to do that markets you do now for the first time. This is a great opportunity to learn it, if you have time. Could you partner with the other agent for assistance or do you know someone in a non competing region you could get some guidance from. Check with your MGA contacts, or failing that your underwriters.

 

[Indiana_Adam]

Hell no! You ask for help from other agents in office, talk to your underwriters, and ask here. Be excited! That's the best way to learn is getting in over your head. What type of risk is it? What concerns do you have?

 

[Heather]

Make that money.

A few months ago a customer called end of the day on a Friday had to have a bond for a construction project before close of business. I don't handle bonds. I called another SIAA agent in my area asking for help for my customer, the agent was out but one of his people took care of my guy. He got his bond, he was happy I assisted him in getting it. I sent an email to the other SIAA agent thanking his people for helping my guy out on short notice. I am thinking I might get a response of some sort and some sort of split on the commission, never heard a damn thing from anyone at that agency, not even a thank you for sending us business type email.

I will not make that mistake again.

 

[Indiana_Adam]

Heather, use that bond as a foot in door fir quote.

 

[CASouth]

I normally pay $150 minimum for referral; but I will never say no to a risk as long its P&C or Surety; I even wrote few Health accounts in the past through a wholesaler before they stopped paying commission cause I don't have L&H; call any MGA or Wholesaler they will help you or refer you to someone else who can.

 

[Arnage150]

You have to be more specific. What type of industry is it?
There are some classes of business that I've wasted a lot of time researching and never seem to hit on. Specifically livery, trucking and troubled WC.
There are also some classes I have no experience in, Aviation, Municipalities, merchant marine...etc.

Whenever its a class I don't have a lot of experience in I'll call another Agent I know that specializes in it and pick their brain. I don't think I've ever walked away from a class of business with out trying it a few times first.

Just wondering if you get a referral for a commercial client that is looking for insurance, but you don't have experience in that industry.

Do you refer it out to another agent?

 

[insurance1822]

Hey I'm all for going after everything. I myself have gone after every piece of business that comes in my door. That being said, I never end up writing them & I get pissed at myself for trying.

I have learned a weeeee bit in the process though

 

[KYB]

Hey I'm all for going after everything. I myself have gone after every piece of business that comes in my door. That being said, I never end up writing them & I get pissed at myself for trying. I have learned a weeeee bit in the process though

I agree with the he others but you're right, you can spin your wheels on a lot of these and waste time. There's often a reason they didn't get it elsewhere and often they'll be short lived accounts.

 

[Heather]

I have wasted a lot of time trying to find carriers in NY for taxi, limo, and airport shuttle. People with no prior business experience think because they own a van they can become a taxi. When I get that call I say 20k a year, can you afford that. If some body says yes then I plan on trying to find a carrier, they usually hang up at that point though.