How to Set Expectations with COI's (center of Influence)

[Justin Bilyj]

I have been doing good with a P&C broker that I teamed up with. Home, Auto, Renter, and Commercial, I get 50% of the first term's commission in exchange, they don't cross-sell anything without my permission, allows me to save my clients money, increase persistency, and to offer more verticals to prospects.

Here is my problem as of late, my coi has been slacking, it takes 2-4 days for a quote turn around. I have had some complaints about the timing. Commerical I understand can take longer, but home and auto should be a quick quote right? Have any of you structured expectations with your COI's, or maybe I should ask, HOW you have structured expectations.

I don't know if that is just the P&C world, but when someone wants a quote, I bang it out quick, if not same day, next day service....

Looking for guidance to have a more fruitful coi relationship....

Thank you,

 

[RonRoberts]

I have been doing good with a P&C broker that I teamed up with. Home, Auto, Renter, and Commercial, I get 50% of the first term's commission in exchange, they don't cross-sell anything without my permission, allows me to save my clients money, increase persistency, and to offer more verticals to prospects.

Here is my problem as of late, my coi has been slacking, it takes 2-4 days for a quote turn around. I have had some complaints about the timing. Commerical I understand can take longer, but home and auto should be a quick quote right? Have any of you structured expectations with your COI's, or maybe I should ask, HOW you have structured expectations.

I don't know if that is just the P&C world, but when someone wants a quote, I bang it out quick, if not same day, next day service....

Looking for guidance to have a more fruitful coi relationship....

Thank you,

As far as P&C goes, my alliances usually can turn around a quote for one of my clients within a couple of hours if not too busy, but at least by the end of the business day. Sometimes, the next day but that is rare.

Why not discuss your expected turn around time with your broker? I have always felt that my strategic alliances fall short of my expectations but mainly due to my not establishing my expectations from the beginning. If that does not work and you are going to continue to rely upon this broker in the long run then discuss this with your clients and let them know the expected turn around time from your broker.