I'm working a nice account right now and while doing my analysis of their current policy I've found a major mistake. They currently have 425k in property on the policy and I thought that was very low to begin with and then I ran across the equipment breakdown for 1.1 million thru Hartford. I'm 99 percent sure that 1.5 is more in line with the property value and the current agent is mistaken the ebp as full covering the boilers however that isn't the case. Its a 5/1 account would you go ahead and tell the insured now and try to aor or wait till the proposal and show this to them? They are good customers of my dad in his business but I don't really have a relationship with them yet.
Situation Question
- Thread starter tyjones
- Start date
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Guest
Guest
Isnt it YOUR job to dicuss the coverages with the clients?
Who says the previous guy was right? Just make sure that YOU are right!
Who says the previous guy was right? Just make sure that YOU are right!
- 561
Anytime you can put doubt in a prospects mind about their current arrangement and make yourself look like the savior, do it! I would absolutely uncover the mistake and explain it in full detail why it is a major mistake and what you will do to fix it. You should gain a level of respect to assist you to close the deal.
Thats good that you found that mistake, at the same time ALWAYS compare apples to apples and give 2 extra choices, let the customer make the decision, with 3 choices now you narrow your chances of loosing the sale down to 25% to 30% all you need to do is educate them so the can make an educated decision, that way you are not making a sale you are creating options for them to choose from, don't act like a sales man when you ARE NOT remember we are insurance agents, create a need and a want. and present choices...
Last edited:
- Thread starter
- #6
show him the mistake now but dont go into details until you have the quotes back..
if you are sure about the numbers, discuss it with the client. tell him you want to barify the numbers. then tell him, that if he were to file a claim today, he may not collect his full damages...figure out the %.. tell if he aor's the policyto you, that will gives you the opportunity to straighten it out immediately.
this is good info!!!! use it but dont discause this type of detail unless you have other choices... remember. You are creating a need here now make a want...
APInsurance
Expert
- 25
That is their business. If anything goes wrong, and they lose an piece of operational equipment and not covered, that will come back on the agent and insured. One account doesn't make or break an agency. The customer needs to know they are covered or under-covered
APinsurance
APinsurance
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