RIMS Report: What Risk Managers Expect from Their Insurance Brokers

By | April 29, 2015

  • April 29, 2015 at 2:39 pm
    Agent says:
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    Some of the problem as I see it is incompetence on the underwriting side. We provide necessary applications, often doing supplemental apps and describe the risk when submitted. Then, we get all the stupid questions from underwriting on info already provided to them. I think their attention span is about 30 seconds.

  • April 30, 2015 at 11:52 am
    Carrier Employee says:
    Hot debate. What do you think?
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    Ninety percent of the applications that come from agents are incomplete and lack quality information and agents say “just the best quote” with what you have. That is the reality.

    • May 1, 2015 at 9:23 am
      Agent says:
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      Hey Carrier Employee, do you feel the need to run down agents today with two posts? Are you one of those carrier employees who have a reading comprehension problem on applications? If you have agents bad enough to not supply information, then you don’t need them. Why not tell the agents that you can’t quote without the required info? If they don’t do it, they don’t write anything. Our problem is that we do all the required, give underwriting the info and they are too stupid to read it.

      • May 4, 2015 at 12:52 pm
        Ron says:
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        Agent,

        Why can’t you even take a compliment? If you had quality reading comprehension skills, then you would know that Carrier Employee has put you in the top 10% of agents, assuming you always submit complete applications.

        Is there any reason why Carrier Employee is not allowed to present anecdotal evidence based on his/her experience? That is all you do. Hypocrite!!

        Yes, underwriting has changed signidicantly based on the development of computerized models. What you fail to notice is that these models have reduced the volatility of insurance underwriting and pricing when we go though changes in the underwriting/pricing cycle from hard to soft amrkets and vice versa. All while allowing companies to remain competitive and profitable.

        You are not going to change anything, so either adapt or retire. I guarantee you that insurance companies will never go back to the “good old days” of underwriting.

        • May 4, 2015 at 3:02 pm
          Agent says:
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          Hidden due to low comment rating. Click here to see.

          • May 4, 2015 at 3:43 pm
            Ron says:
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            Agent,

            Please provide Carrier Employee’s quote call YOU lazy. His/her assessment of application submitted to him/her is cannot be disputed by you. You are not in his/her shoes.

            You said, “If you have agents bad enough to not supply information, then you don’t need them. Why not tell the agents that you can’t quote without the required info? If they don’t do it, they don’t write anything.”
            1. Employees do not decide which agents are appointed.
            2. My assumption is that he/she has done more times than he/she would care to count.
            3. If 90% of the applications he/she receives are automatically discarded, how are they to write new business?

            I made no mention of underwriters or marketing people.

            Were there no premium increases before rating algorithms? Were actuaries perfect “back in the day”? Nobody ever said algorithms are static tools. They are dynamic and are designed to change with new information, unlike you.

            Sometimes I cannot believe that you work in insurance.

  • April 30, 2015 at 11:54 am
    Carrier Employee says:
    Hot debate. What do you think?
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    Being on the carrier side for 25 years, I can say that approx. 90 percent of the applications that come from agents are incomplete in so many ways and then the agent says “Give us your best quote with what you have.” There are exceptional agents that provide quality and detailed information but they are few and far in between. That’s the truth – can you handle the truth?

  • April 30, 2015 at 4:50 pm
    Marketing Rep says:
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    Hidden due to low comment rating. Click here to see.

    • May 1, 2015 at 9:18 am
      Agent says:
      Hot debate. What do you think?
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      Marketing Reps are some of the laziest folks on the planet. Back in the day, a rep would actually try to help the agent get an account written including phone calls to the underwriter. It seems their only job now is to send an occasional email about availability of a training class or they send a production report. They are pretty much useless.

    • May 4, 2015 at 11:42 am
      Agent/Broker says:
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      Laziest folks on the planet…..? So says the person whose livelihood depends on these lazy bums ! LOL> Do your job and quit wetting the bed.

  • May 1, 2015 at 4:06 pm
    Both sides now says:
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    The comments from both sides have some validity. Question is, why do you devote so much attention to them instead of the better ones?

    • May 1, 2015 at 5:13 pm
      Agent says:
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      Both, I am afraid there has been too much turnover in Marketing Reps and Underwriters in recent years after the good ones were retired to be replaced by young ones who just do not understand the business, underwrite strictly by what the computer tells them and have virtually no common sense on how to assess risk, accept or deny quotes etc. If they don’t understand an account or if it doesn’t fit their guide perfectly, they always say no. It keeps them from writing good business.



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