Many great points here. One area not touched — Agency value and ease of doing business across all lines. 2018 ushered in the tipping point for Commercial Lines with >50% of the fleet business (>5 vehicles) having telematics. Recent surveys have shown the #1 reason businesses shop their insurance is a belief the current insurance provider doesn’t understand their business or growth needs. The point made here – “an opportunity to intervene when activity deteriorates” represents a clear opportunity for the producer to add value and reinforce the relationship by recommending additional safety analytics available from the existing TSP. The Agency or Broker benefits with a new found ability to protect an account and add automation for data collection, including continuous updates to driver lists. For a producer, immediately knowing someone has recommended safety analytics to your telematics equipped risks can be an early warning you’re being shopped!
Many great points here. One area not touched — Agency value and ease of doing business across all lines. 2018 ushered in the tipping point for Commercial Lines with >50% of the fleet business (>5 vehicles) having telematics. Recent surveys have shown the #1 reason businesses shop their insurance is a belief the current insurance provider doesn’t understand their business or growth needs. The point made here – “an opportunity to intervene when activity deteriorates” represents a clear opportunity for the producer to add value and reinforce the relationship by recommending additional safety analytics available from the existing TSP. The Agency or Broker benefits with a new found ability to protect an account and add automation for data collection, including continuous updates to driver lists. For a producer, immediately knowing someone has recommended safety analytics to your telematics equipped risks can be an early warning you’re being shopped!