Carriers likely find it interesting that brokers/agents desire more compensation while demanding faster service from the underwriters. The “value added” the underwriter usually sees in this “fast” cycle from a broker is an email with the subject line of “asap-please respond” with a file that has not been screened for basic information.
Sadly, many carriers will quote even if missing elementary info because they know some competitor will if they do not, and they will get labeled as “bad service” if they even ask a single question.
Wayne, our experience is that most carriers have an online quoting system and if the info provided raises no red flags, they will quote. If there is an underwriting hold, they may ask a few additional questions and if satisfied, ok to quote. What is a bit more complicated is when the carrier is not competitive and you have to ask for credits to get to a price. We can usually satisfy them with Loss Runs. 5 years ago, cumbersome Supplemental Apps were often required and that slowed down the process. Seldom have to do that anymore.
Agent I would agree that requiring supplemental on all accounts is a unnecessary burden but in many cases that is the only way to get to what the risk is actually doing. I love the answer of look at the website, only to find unacceptable risk and then be told, we do not really do that operation we just thought it would look good for the site.
Interesting results.
Carriers likely find it interesting that brokers/agents desire more compensation while demanding faster service from the underwriters. The “value added” the underwriter usually sees in this “fast” cycle from a broker is an email with the subject line of “asap-please respond” with a file that has not been screened for basic information.
Sadly, many carriers will quote even if missing elementary info because they know some competitor will if they do not, and they will get labeled as “bad service” if they even ask a single question.
Wayne, our experience is that most carriers have an online quoting system and if the info provided raises no red flags, they will quote. If there is an underwriting hold, they may ask a few additional questions and if satisfied, ok to quote. What is a bit more complicated is when the carrier is not competitive and you have to ask for credits to get to a price. We can usually satisfy them with Loss Runs. 5 years ago, cumbersome Supplemental Apps were often required and that slowed down the process. Seldom have to do that anymore.
Agent I would agree that requiring supplemental on all accounts is a unnecessary burden but in many cases that is the only way to get to what the risk is actually doing. I love the answer of look at the website, only to find unacceptable risk and then be told, we do not really do that operation we just thought it would look good for the site.