COMMERCIAL LINES now we insure window cleaning contractors across the United States .
How would you say you add technology and / or processes to the equation of successfully writing commercial lines ?
We believe that an agency that is not constantly looking at new technologies to improve internal efficiencies or benefit clients is a dying agency . The insurance landscape is covered with new carriers and platforms in which to purchase commercial insurance in new ways , making it appear like a commodity . We must remain relevant in the market with our relationships and value-added services .
We use technology platforms to identify the right prospects , and use data driven appetite engines to match those prospects up with the right carriers . We use automation in our back-office processes where it makes sense and allow clients to create their own certificates and auto ID cards .
All those time savings can be used to build real relationships and provide value added services to show our clients that insurance is not a commodity .
You ’ ve made several acquisitions in the last few years . How have these new partnerships added to your capabilities for writing and servicing commercial lines ?
Every acquisition brings new talent , new clients , and new carrier relationships . We now have a different client mix than we did before . It ’ s enough growth in certain industries we can group similar clients together with a few carriers , or in some cases an account manager with extensive expertise in that field , to gain efficiencies .
The other exciting part of these acquisitions is learning where the acquired agency has better technologies or processes than we do . Once we find ways to bring those capabilities into the rest of the organization , then the improvement we see really starts to accelerate .
How have your carriers partnered with you to help facilitate your commercial lines processes ?
We have great carrier relationships . The best relationships are those at the ground level , between the underwriters and the account managers . Marketing new business is extremely time consuming , and much of the business we want to write is not quick and simple “ quote it online ” business .
We utilize those carriers with dedicated new business underwriters so we can truly pre-qualify the opportunity with the underwriter , and only submit it to one or two carriers to get good proposals . This saves time on both sides and increases our hit ratio . On the technology side , we work with those carriers to make sure our agency management system is fully configured for electronic documents , claims download and policy download to save as much back-office time as possible .
What would you recommend to other independent agencies as “ must take ” steps for improving their commercial lines agency practices ?
In addition to setting your typical new business and retention goals for the coming year , make improvement goals as well . Take time to learn about new technologies , processes , and services you could bring into your agency that you don ’ t currently have . Gather feedback from your entire team on ways you can help them improve and perform at a higher level . Identify 2-3 things you can do in the coming twelve months to help your agency . If you focus on too many , nothing will get accomplished .
Also , just because everyone else is doing something doesn ’ t mean it ’ s the right thing for your agency . Get buy-in from your team . Focus on completing those critical improvements that make the biggest impact , and your team will begin to thrive .
9