How Many Times Do You Meet with Commercial Prospects Prior to Giving Quote?

[Rick Deckard]

How are you doing anything with the prospect if you've never been in their store/business?

Your first personal visit with the owner, at the business, face to face, is when you should be asking for a copy of the policy. If the owner gives you a copy it means he's willing to consider doing business with you.

That's also the time to get the basic business information that a commercial insurance application will require, assuming you actually know what information a commercial insurance application requires.

You wrote that you've written "a couple of commercial accounts." How'd you manage that?

Greetings, ty for such a fast response. Excellent question, I relied on an MGA(RPS), in house processor at our agency whipped up the Accord 125/126/140, etc...I didn't get my hands all that dirty. I'm not proud but I'm being honest.

My agency pushes Personal Lines and the training for Commercial is pretty much none. I am having to try everything in terms of learning. I appreciate your feedback.

-Visit 1st and ask for a copy of their policy to go back to the office and analyze/compare. That makes sense and is something I can do.

 

[adjusterjack]

Greetings, ty for such a fast response. Excellent question, I relied on an MGA(RPS), in house processor at our agency whipped up the Accord 125/126/140, etc...I didn't get my hands all that dirty. I'm not proud but I'm being honest.

If that worked for you, more power to you. But you had to get the information someplace. A lot of it comes from the prospect's own policy but there is still a lot that comes from personally interviewing the owner and inspecting the business.

My agency pushes Personal Lines and the training for Commercial is pretty much none. I am having to try everything in terms of learning. I appreciate your feedback.

Well, I got my training when I worked for an insurance brokerage whose client was one of Arizona's largest public utilities. I analyzed policies, provided service, and inspected the insured's locations.

Later, working for an independent agency, getting into smaller businesses was easy.

The most important thing I learned was that once you got your foot in the door by getting the policy I could accomplish a lot by asking for a tour of the business so I could take notes on the building and contents, the vehicles, the employees, etc.

It's not just a matter of quoting an identical policy for the business owner, you have to be able to recognize what's lacking in his insurance and make recommendations for improvement.

-Visit 1st and ask for a copy of their policy to go back to the office and analyze/compare. That makes sense and is something I can do.

That's just Step 1.


PS: There's a Blade Runner sequel coming out in October.