Does Anyone Sell P&C Fully on Phone Only?

[iiinycboi]

Does anyone do cold call and sell p&c only through phone. no site check, no face to face?

what do you do to verify the business description and persons identity?

im starting to expand my zip codes and noticed people are over an hr a way, but they are willing to do business by fax and phone / email.

 

[nyc2phi]

have them fax their dec pages for that.

Why does the identity matter?

 

[iiinycboi]

no clue lol, just thinking outside the box. someone who signs the worker comp or bop but they arent really the president or officer. i think it would create problems.

and referrals of new business who claim they do one thing, then mid way they change their business or dont tell you the truth outright.

i see small problems with 10% of the phone sales. just trying to watching out for my E&O

 

[FL P&C Broker]

99% of our business is phone, email and fax. The margins are so small that we couldn't make money if we had to go out to every property or have an appointment with every customer.

 

[nyc2phi]

maybe request pictures also ? I know some carriers request this when you are doing commercial property. Could be a good way to CYA.

 

[FL P&C Broker]

In Florida if the home is over 30 or 40 years old the companies require a 4 point inspection at the cost of the insured. If it less than 30 or 40 years old you can do some UW with the internet. Sometimes you are taking the word of the insured. They sign the statement of condition. Most of the companies will do their own inspection as well.

 

[Underwriter2Agent]

In Florida if the home is over 30 or 40 years old the companies require a 4 point inspection at the cost of the insured. If it less than 30 or 40 years old you can do some UW with the internet. Sometimes you are taking the word of the insured. They sign the statement of condition. Most of the companies will do their own inspection as well.

Agreed, this is very common in Florida and if the carrier chooses to conduct an inspection they will do so. As long as you ask the correct questions and do not put false information on the app you should be just fine selling on the phone.

 

[EugeneM]

Depends on the Risk. A GL policy for an office can be done over the phone all day. Some industries require an inspection not only for law but to uncover gaps and exclusions overlooked by the incumbent!!! Even coverage they no longer need!

I would highly base it off the Annual Premium of the account and potential return.

 

[pbbaseball]

Homeinsurance.com is less than a mile from my house, and they do exclusive over the phone, with 150 telesales agents. All internet leads and write very little local business.

 

[Jinc]

99% of our business is phone, email and fax. The margins are so small that we couldn't make money if we had to go out to every property or have an appointment with every customer.

Do you buy Internet leads, mailers, or cold calls for most of your business? Thanks!