Tips/Challenges Gathering Supp Info Commercial Comp/GL

[EugeneM]

Hi Everyone,

I am trying to increase the % of complete submission from our Retailers - (Even though we end up quoting a binding a huge portion of them.)

I am going to be putting together a resource for our agents that will assist them on gathering supp info. How do you guys go about it? (both new and renewal business? ***I know its harder on New business as you dont control the account**

What are the most commonly missed items? How do you handle multiple information requests without upseting the insured? Obviously trying to min the back and forth. Keep in mind our Retailers ranges from 1st years to seasoned vets.

We require the basic stuff - Acord, Supp App, 4 years LR if applicable.

Commonly Missed Items - Details on Driving Exposures, Lifting exposures, amount and type of work sub'd out, Height/Depth, PPE information - especially on fall exposures to name a few. Employee count FT/PT ratio's,

Do you train the salesguys on what info to expect to ask by industry? Is it a priority? Would a cheatsheet help? Is the wholesaler trying to educate the producers practical. All input welcome :d

 

[XdateNotSexDate]

Took a quick look at your supplemental, looks like it hits all the right areas. One suggestion on the supp- there are sections applicable to every risk (Operations, hiring practices, etc) and sections that are industry specific (agri, contracting, etc).

It might make it easier on the agent, and therefore increase your odds of a complete supplemental, to make them separate documents that are more specific to the industry. I'm sure some would agree and others would not, just an opinion.

Assuming you agree, you have shorter more specific supp's and can add some follow up fields for the specifics - many of which you all ready referenced (PPE, lifting exposure, etc).

The safety program section has mostly all yes/no questions - I'd add an open-ended question just asking for some program specifics. If the prospect has a legit program they're gonna talk the guy's ear off about it. If they don't..producers are superior when it comes to embellishing.

Specifics by industry- you could easily keep track of the add'l questions that are always recurring with your submissions (which it sounds like you're doing all ready). Update supplemental accordingly.

One suggestion I have for the contractors section is to add a 'current jobs' section so the producer can get a list of 3-4 active jobs. Paints a good picture, usually. Landscapers - any snow removal? %? comm v res? how many seasonal employees?

You have all the right elements, it's just those pesky details. Concrete mfr's - silica dust exposure; machine shops- LO/TO program. Are they actually locking out the machine when they work on it or just putting a piece of tape over a switch. Maybe something to prompt the producer to ask about any large claims in the last 4 years. Hope this helps!

 

[AZDave]

Easy Pre Fillable PDF forms please. May sound so simple and maybe yours are already.

No fun to get a supplement request that has to be printed, or butchered up on a pdf editor.

Dave

 

[VolAgent]

Easy Pre Fillable PDF forms please. May sound so simple and maybe yours are already.

No fun to get a supplement request that has to be printed, or butchered up on a pdf editor.

Dave

But they need to be done correctly. I've seen so many where the fields are incorrectly linked. So then I have to either flatten it and type onto it or use my own PDF editor to fix it.

 

[EugeneM]

Thank you very much for the input everyone! I was trying to think outside of the supp app. Can we do more then give them a supp and hope they get it all? Minus calling them and walking them through it

any good books, articles, subscriptions, Authors that you would recommend? Something that illustrates the reasoning behind the questions - as opposed to seeing a question on a supp and asking it. Get them thinking like an undewriter...Newsletter perhaps? I havent seen anything like that from insurance journal or rough notes even a paid service.

Thanks again!

 

[AZDave]

I just renewed a Tattoo parlor with an extremely picky broker/underwriter. I completed the coverage sections and sent the rest to the insured, a total of 59 questions on this supplement. He completed and I sent it back. FIVE revisions later, I have the quote. I would rather poke my face with a pencil than go thru that one again!

 

[Ken W]

Do you find that certain questions continuously cause issues for the insured?

Also, do you use general questionnaires with your insured?

 

[EugeneM]

@AZDave hahahaha - I bet the premium was like 10k too...

@Ken W Yes our supp app covers a wide range of industries. I put a link for reference.

Applications | Ironwood Brokers & Insurance Marketing

 

[Ken W]

Thanks @EugeneM !

 

[EugeneM]

So we got
Rough Notes - Home - The Rough Notes Company Inc.

Insurance Journal - Property / Casualty insurance industry news from Insurance Journal

Workers Comp Exec - https://www.wcexec.com/

anyone recommend any good linkedin groups? Lets build a list