Force Placed Question

nadylime

Expert
49
Florida
Howdy folks - I was thinking of talking to some banks & seeing if they would let me speak to some of their customers that have force placed policies on their home or auto.

Has anyone pursued this avenue of business? If so, would you mind sharing a bit about what has worked best for you? Reply or PM.

I'm in North FL BTW;)

I really appreciate it!
 
I don't know, that's why I'm asking if anyone else in the P&C business has ever pursued this.

I did talk to someone in the business that was working these & said she was having good success.
 
I don't know, that's why I'm asking if anyone else in the P&C business has ever pursued this.

I did talk to someone in the business that was working these & said she was having good success.

I bet if you can find these people with forced placed coverage and explain to them how expensive it is they would be very willing to move policies....the question is how to find them...Have you asked that person this question? Since no one on here that I am aware of is a bank we would not be able to answer your question.
 
Not trying to be a jerk at all, but I'm not sure why my point isn't coming across - My question:
Has anyone pursued this avenue of business?

I understand there aren't any bankers on this forum....I'm trying to find out if any other P&C agents have talked to banks/credit unions about working with their borrowers that have force placed policies.

I did email the lady that first told me about the business, but wanted to see if anyone else has tried working this avenue.

Thanks.
 
Not trying to be a jerk at all, but I'm not sure why my point isn't coming across - My question:

I understand there aren't any bankers on this forum....I'm trying to find out if any other P&C agents have talked to banks/credit unions about working with their borrowers that have force placed policies.

I did email the lady that first told me about the business, but wanted to see if anyone else has tried working this avenue.

Thanks.

I've tried it yes. They cannot share personal info though so it doesn't work. However, what does work is the fact that I know the president and vice president of a bank near me and as the policies come up for renewal, they obviously ask the customers about their insurance, when that comes up he copies me on the emails as he refers them to me and I write the policies. So far I have a 100% close ratio and a 100% retention ratio with these customers (only been two years though). So get to know some people (the right people) and it can be very profitable for you.
 
Thanks much Josh, this is the kind of feedback I was looking for.

I would appreciate if anyone else has any other feedback they can share.
 
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