Web Site ‘Bridges’ Relationships Between Insurance Agents, Brokers

By | October 29, 2008

The Internet has become more than a useful bridge for insurance agents trying to reach new markets for accounts — it’s also helped locate insurance for bridges.

Insurance agents are reporting success connecting with brokers who assist them with market needs through www.MyNewMarkets.com.

Bob Hecht of Risk Placement Services in Bay Shore, New York placed coverage on a bridge for one agent using the forums page to find the coverage.

For many agents, placing coverage on a bridge might be unusual. “Not for me, I write several of them,” Hecht told MyNewMarkets.com. Hecht was able to put his expertise into action for an agent in need by using the Web site, which is a service of Insurance Journal.

Hecht is one of the many brokers who frequently respond to agents looking for markets to place common risks as well as unique risks.

Walt Sams is an active member of the market request forum at www.mynewmarkets.com. Sams, a marketing representative with Appalachian Underwriters, says he has developed productive relationships with several agents he has met since becoming an active participant on the market request forum offered by MyNewMarkets.com.

According to Sams, Appalachian has been able to successfully place business on behalf of agents who have contacted him through the site.

“I believe this forum is a great way for agents to network with wholesalers and general agents for the obscure and tough to place risks that they may run into on a daily basis, while allowing them the ability to pick and choose which company they wish to deal with,” says Sams.

Agents providing a brief description of a risk, only one or two sentences, on the market request forum at www.mynewmarkets.com get connected to a host of wholesalers and managing general agents ready to help place those unusual coverages. Agents can also post more common risks if they find their current brokerage contacts are not able to provide the protection and pricing they think their clients need and deserve.

Brokers and agents can benefit from this and the other forums found at www.mynewmarkets.com. Beyond access to a cadre of brokers for hard-to-place risks, agents can also pose business questions and develop relationships with other members of the agency community. Brokers, too, can develop relationships with agents they may not have had the opportunity to meet apart from this forum.

Site users also get current articles on coverage and market-related issues. Past topics have included a 30-part series on workers’ compensation coverage, issues and trends. Other series included flood insurance, property valuations, ordinance or law and others.

Access to all this information is by membership only; but membership is free. The only investment is the time to register as a member at www.MyNewMarkets.com.

About Christopher J. Boggs

Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, is a veteran insurance educator. He is Executive Director, Big I Virtual University of the Independent Insurance Agents and Brokers of America. He can be reached at chris.boggs@iiaba.net. More from Christopher J. Boggs

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