A great article…should be required reading by all staff in every insurance organization!
Producers often just “copy” from the existing policy with out interviewing the insured/prospect to determine the correct name. This is how some errors get made. They are too afraid of taking up the prospects valuable time to do their job properly.
When I was producing I overcame this obstacle by saying “my asking you questions is intended to provide you with the best coverage for your exposures. If I merely match what you have I have not done my job for you”
Correct, PITA. Another common error that producers make is duplicating limits and coverages of a new client without verifying the current needs of the client. As a result, the producers also duplicate any errors the current producer made. I recently reviewed the policies of a proposed client, and only one policy out of five had the correct Named Insured.
A great article…should be required reading by all staff in every insurance organization!
Producers often just “copy” from the existing policy with out interviewing the insured/prospect to determine the correct name. This is how some errors get made. They are too afraid of taking up the prospects valuable time to do their job properly.
When I was producing I overcame this obstacle by saying “my asking you questions is intended to provide you with the best coverage for your exposures. If I merely match what you have I have not done my job for you”
Correct, PITA. Another common error that producers make is duplicating limits and coverages of a new client without verifying the current needs of the client. As a result, the producers also duplicate any errors the current producer made. I recently reviewed the policies of a proposed client, and only one policy out of five had the correct Named Insured.
It is all about training…focus on the exposures, present to client, let them make a business decision.
Price is always an issue…so remove it from table and focus on VALUE of the coverage you are proposing.
If client/prospect only goes with you for price…then they will also leave you for price.
Learned long long ago…best day to loose a client/prospect is the first day, before you focus any time/energy/resources on them.