Handling the Work Load of Small Commercial Business

[agentinsouth]

Hello everyone, I currently handle the majority of our small business within our agency. We have about 8-10 new producers and we are associated with a large bank. Basically the bank is sending us leads on a daily basis and the new producers are handling these leads. Since they are so new, they obviously are not familiar with filling out acord forms, so I've been tasked with creating an elementary form that they can fill out to get me the basic information needed to find a market. While that is working great, the amount of submissions being sent my way are becoming a bit overwhelming for just myself. My question is, for the medium-large agencies out there who have multiple producers submitting business daily, what is your process like to handle this? Do you have a queue setup to have them submit business to, do they just submit directly, basically how do you handle this process? Any software out there to help handle this workload and sort it by need by date, or sorted by producer? Any input/advice is certainly appreciated as this is basically all new to me and we are a young agency finding our way in this business.

I assume you are getting an override on their production since you are helping them & they are taking time away from your production? Who (job title) are the people at the bank who send the leads?

 

[AZDave]

Hello everyone, I currently handle the majority of our small business within our agency. We have about 8-10 new producers and we are associated with a large bank.

Basically the bank is sending us leads on a daily basis and the new producers are handling these leads. Since they are so new, they obviously are not familiar with filling out acord forms, so I've been tasked with creating an elementary form that they can fill out to get me the basic information needed to find a market.

While that is working great, the amount of submissions being sent my way are becoming a bit overwhelming for just myself.

My question is, for the medium-large agencies out there who have multiple producers submitting business daily, what is your process like to handle this? Do you have a queue setup to have them submit business to, do they just submit directly, basically how do you handle this process?

Any software out there to help handle this workload and sort it by need by date, or sorted by producer?

Any input/advice is certainly appreciated as this is basically all new to me and we are a young agency finding our way in this business.

How many carriers do you have for commercial lines? Sounds like your are constantly submitting, figuring out where each one fits and who wants it. I could only imagine the time wasted on submissions to the wrong carriers. Just to learn each carriers appetite and offerings takes sooo much time. Unfortunately, each has their own caveat and submission process.

I would have them all use a thorough fact finding sheet that gathers the initial information. Then when I get it, I would kick it right back to them with direction on what carrier(s) the quote should go to, because I know each carriers appetite. Make them in charge of bringing back to you a full blown quote, with all the necessary coverage, for your review.

But then again, I have no clue with what I would do with 10 green producers and a pile of quotes that keep getting higher!

I too have AMS360. Much easier to learn carrier submission processes than pms360 accord submission processes.

Good Luck and Good Selling!

Dave

 

[Placementkid]

I assume you are getting an override on their production since you are helping them & they are taking time away from your production? Who (job title) are the people at the bank who send the leads?

Usually the lenders are sending over leads to us for the loans they work on. It's advantageous for them, because we can usually get them a quote faster than anyone else, which helps them to close.

In regards to the workload, yes I do get an override for helping them. I am getting a bonus based on the business placed for them.

I have created an elementary form that they fill out to get me the information needed to create acords and to quote online.

My issue is that I need a better way to track the submissions from them. I wish I had an email queue that they could send things to and it automatically keeps them informed of the progress. Basically, where they stand in the mix and when it's finally being worked on.

I usually deal with someone bringing me a quote, expecting to have it turned around in a couple days and then I have to tell them, there's 15 ahead of them.

I also need to be able to track when things are submitted and help me keep track of their need by dates. Seems like everything is ASAP

 

[insurance1822]

check out https://www.repsly.com

 

[Derrick]

But then again, I have no clue with what I would do with 10 green producers and a pile of quotes that keep getting higher!

To be honest, it sounds like a pretty damn good problem to have. I wish I had a stack of commercial business that wanted quotes from me.

 

[The new kid]

To be honest, it sounds like a pretty damn good problem to have. I wish I had a stack of commercial business that wanted quotes from me.

It is a good problem to have, but it's still a problem.

 

[HCCIA]

What a wonderful problem! I hear accords being tossed around. That would be the ultimate to have to be able to quote. I use a "cheat sheet" to help on smaller personal lines accounts. The least info needed to quote. Hire staff to help quote and input into your system. Keep the flow going - try not to hinder the producer from filling the pipeline.

 

[scottdsouthwick]

Full Disclosure:

I am currently working on an Acord software solution.

After contacting over 10k agents and agencies, we are close to having our basic software ready.

I have no intention of building what I think you want.
I would like to know how a perfect solution for the acord forms would look to you?

Thank you,

Scott