Loss Runs

[jemelton]

I am new to commercial insurance, have done life and health and the process of getting loss runs seems like a painful step in the sales process because the other agent and company are notified that the prospect is shopping when they get a request for this. Any tips or advice on how to go about this?

 

[nyc2phi]

I am new to commercial insurance, have done life and health and the process of getting loss runs seems like a painful step in the sales process because the other agent and company are notified that the prospect is shopping when they get a request for this. Any tips or advice on how to go about this?

This is my least favorite part of the business.

Have the insured contact the company directly not his current agent.

Remind him in most states they are required by law to get them within 10 days

Draft up you own loss request form. Leave the top blank until you can get his insuring company and policy number. In the body have a professional paragraph requesting the loss history, have they insured sign off and date. Fax and email to the insuring company. Follow-up on it consistently.

I wish they had clue reports like homeowners.

 

[jemelton]

Exactly. That is my biggest concern is just the other agent getting notified.

 

[nyc2phi]

Exactly. That is my biggest concern is just the other agent getting notified.

The company will almost always notify the current agent. You can try to block the market before that happens.

 

[stex]

Exactly. That is my biggest concern is just the other agent getting notified.

It goes both ways. You'd appreciate it when you're notified another agent is quoting your account.

 

[CASouth]

So what if the other Agent notified? if you're offering better service or coverage/price then you should win; don't forget the other agent spend as much work if not more acquiring the account, marketing and selling.
Gain a Client not an Account.