| TECHNOLOGY & YOUR AGENCY |
The Right Property Data Improves Service
Jerry Fox
W
hy doesn’t the carrier already
have property data on this
home?
Is this quote accurate, or will I have
to go back to the homeowner with a
revision?
All agents want to provide the best
product for their customers, but
questions like the ones above make
it difficult to quote policies with
multiple carriers. Often, timing is
4
critical, and the need for speed is
essential to a consumer. For example,
imagine a scenario where an agent
receives a frantic phone call from a
homeowner who is trying to close a
mortgage loan but forgot the need
to provide proof of homeowners
insurance coverage. This agent
may choose to quote a policy with
a single carrier knowing that it can
take an average of 20 minutes to
enter consumer-supplied property
information at each carrier’s portal
with no guarantee that the quotes will
be based on a consistent and accurate
KANSAS INSURANCE AGENT & BROKER |MARCH - APRIL 2016|
reconstruction cost. Therefore, while
bidding a homeowners policy with a
single carrier may get the job done,
a question remains: Is this the best
product for my client?
Comparative rating vendors can
help agents achieve the goal of
recommending the best product
by reducing the time it takes to
bid multiple carriers and bind a
homeowners policy. Unfortunately,
timing is only half of the equation.
The other half is accuracy.