Why Small Regionals Are Awesome

[insurance1822]

So we write a boat load for a small regional carrier. They pay 20/15 & started contingency at 200k. Their UW's are very fair, we know eachother well & their prices are absolutely incredible for monoline homes. We do about 20 apps per month w/ them.

They have a particular underwriting process that (for our agency..) was resulting in 2x the work when issuing new policies (we write mainly new home purchases.) After speaking w/ our marketing rep about basically re-writing some of the underwriting rules for us....they did!

They emailed their entire UW & loss control department that basically...certain rules don't apply to my agency. The commitment they show to us is just flat out awesome & you'd never get that from larger Nationals.

We're also ditching Travelers & bringing on another regional super power. Goood bye Nationals who us crap & sell direct behind our backs. I'm moving my agency in this direction & I know some can't because they've grown so large etc. But hey, I got alot of time in this business & I can see the writing on the wall.

I love trash talking on these forums but you really do get good incite from around the country & I think this is CLEARLY the direction to go. So...here I go.

 

[nyc2phi]

That's why I love my regional! Wouldn't call them small though..

 

[Derrick]

If/when I start my own agency, I don't even know how I will ever get appointed with them. Even agencies that have been around 30 years still can't get access to the better regionals. :(

 

[indienoise]

LOVE my tiny regional carrier I do busines with. Their underwriting may be a little "different" sometimes, but I love that I have a single contact I can call for all u/w issues, who answers the phone when I call, and is always AWESOME every time I deal with them. And the sales rep is actually useful and not a bother.
I'm still in the appointment process with a national superpower, because I still need a home for the risks that don't fit the smaller carrier's appetite, but I wish all my carrier relationships could be like this one.

 

[1manshow]

Agree 100% Loyalty is huge

Just signed with another niche writing small regional last month and meeting with another all lines regional writer next week. Goodbye Safeco and Kemper

 

[alexkh]

any regional carriers in PA?

 

[Matt37]

any regional carriers in PA?

Serious? PA is the capital of regional writers.

Erie writes almost $5B in business and they are in like 10 states.

Penn National, Grange, Millers Mutual, etc.

They are great when you are writing BOP business unfortunately if you get up to the big boy stuff .. they rarely have capacity or the forms.

 

[shawnmwalker]

Small Regionals are great.

 

[Derrick]

I love small regionals when I'm working for someone else because their preferred rates always kick butt.

I hate small regionals when I'm coming up with a business plan for my own agency because I'll never have access to them. Especially in MI where we have a lot of auto insurance exposure and regionals are especially careful about giving out appointments.

It's a love/hate relationship for me...

 

[GXR2]

Regionals know their market so much better. So many risks that a national flat declines the regional understands and gets it.

It makes insurance fun again with that down home family type approach and partnership.