I'm so glad I found these Insurance Forums!

[fed up]

You have 6 years (2016) of leads out there. Pick up the phone and start dialing

 

[DHK]

I agree with your entire post other than these being the premium companies. They'll take just about anyone and price out those they don't want.

Fair enough. As I did state that I was never a P&C agent. My understanding would be that you don't want bad risks nor policies with lapsing premiums with your primary carrier to preserve your renewals/bonus eligibility (whomever they are) so being able to sort out your buyers would be key to preserve a good book of business for that selling contract and outsource the rest to other companies.

 

[Al3x Lee]

Fair enough. As I did state that I was never a P&C agent. My understanding would be that you don't want bad risks nor policies with lapsing premiums with your primary carrier to preserve your renewals/bonus eligibility (whomever they are) so being able to sort out your buyers would be key to preserve a good book of business for that selling contract and outsource the rest to other companies.

Yes that's true and I agree with everything you said, even without being a P&C agent, you know your stuff.

I just have my personal preference on companies, as I'm sure we all do. State Farm for example is notorious by many P&C agents for being extremely difficult to deal with in claims.

But let's be honest, that could come down to the adjuster or region. And maybe I'm just salty because I'm independent and can't write with captive carriers

 

[Allen Trent]

State Farm for example is notorious by many P&C agents for being extremely difficult to deal with in claims.

I would find this hard to believe. To be #1 in market share for so long, they would have to be handling claims at an average, to above average status. Otherwise, their clients would be leaving to carriers that are better. Maybe it is more that they are difficult in 3rd party claims with other companies clients. That part I could see, especially in states that are not no-fault states. In Michigan, they appear to have a great reputation over all with consumers & repair shops.

 

[somarco]

if I also wasnt a Karen & Debbie Downer

I think the current terminology is "binary" . . . but the man with two brains might also qualify.

 

[Allen Trent]

I think the current terminology is "binary" . . . but the man with two brains might also qualify.

View attachment 8264

Me, Karen & Debbie are definitely not binary, we consider ourselves a Throuple

 

[Al3x Lee]

I would find this hard to believe. To be #1 in market share for so long, they would have to be handling claims at an average, to above average status. Otherwise, their clients would be leaving to carriers that are better. Maybe it is more that they are difficult in 3rd party claims with other companies clients. That part I could see, especially in states that are not no-fault states. In Michigan, they appear to have a great reputation over all with consumers & repair shops.

Maybe, I've just heard it many times from different agents and adjusters in the industry, and judging by how often they get sued there may be some truth to it. Even adjusting for marketshare, you would expect to see Progressive and Geico on the list, all things being adjusted and equal.

[EXTERNAL LINK] - Report finds State Farm, Allstate most hit by insurance litigation in 2021 - Repairer Driven News

 

[Allen Trent]

Maybe, I've just heard it many times from different agents and adjusters in the industry, and judging by how often they get sued there may be some truth to it. Even adjusting for marketshare, you would expect to see Progressive and Geico on the list, all things being adjusted and equal.

[EXTERNAL LINK] - Report finds State Farm, Allstate most hit by insurance litigation in 2021 - Repairer Driven News

For sure. Where I am, the body shops & clients complain most about Progressive.

Many of the independent carriers with agents get high marks. That is always what shocks me that captives have so much of the market share compared to independent carriers.

 

[Markthebroker]

I'm not much of a salesman, my strength is in listening and consulting, so that's what I'm shooting for in my scripts. I tell my clients there's no pressure here: I make suggestions based on my products and expertise, and they get to make all of the decisions.

I am a commercial p&c broker. Before I nailed down my referral and networking system, probably the most effective thing I did was door knocking.

I would walk into a business, and basically say "Hi, my name is Mark T. Broker. I am a nearby commercial insurance broker. I was up the street visiting (name a business you visited up the street, whether on appointment or door knocking) and thought I would stop by and introduce myself." I would hand them my card, and see what they said, and take it from there. A surprisingly large number of people would be very interested in talking to me. I'd say around 1 in 8 or 10 on average.

Personally, because of my overall appearance and physical presentation, I've done very well door knocking, especially blue collar, for whatever reason. White collar I am effective, but less so. I guess the blue collar folks don't mind my bluntness, poor eye contact and very casual business attire.

YMMV.

 

[somarco]

Me, Karen & Debbie are definitely not binary, we consider ourselves a Throuple

An oldie but a goodie . . . by the Ink Spots