In fact, what I primarily do is…
What I do is efficiently manage my client’s insurance policy renewals by strategically directing the marketing and negotiation efforts of their broker(s). The end result is that my clients experience “peace of mind” while saving time and money.
The competitive insurance renewal/bid management process is the best way to get the best price and coverage that the insurance marketplace has to offer. Without competition, your insurance premium will not be where it could be and your coverages will not be as broad as they can be.
PLEASE NOTE: Even though I both suggest and introduce competition into the renewal process, I DO NOT BELIEVE that having multiple agents quoting on your policy renewals is ever in your best interest. I believe the best results are achieved through the selection process of the BEST agent, and then I strategically introduce competition into the process through my unique system.
Moreover, if you are a construction company, please note that the insurance industry is not like the construction industry. You will not—I repeat—you will not get better results by having multiple agents going out to the marketplace place and flooding it with bid requests. In fact, that system will practically guarantee you fewer quotes, less competitively priced quotes, and a lack of loyalty by the insurance community in general.
Trust me when I say this is the case. But that doesn’t mean I don’t have a better option for you, because I most DEFINITELY do!
Getting back to the issue of competition …
There is more strategy to the competition piece than merely getting two or three agents to work on gathering quotes.
For example, consider a few of the following truths about the insurance industry …
- Agent-A may have a better relationship with an underwriter than Agent-B does. If the underwriter doesn’t trust agent-B, or even agent-B’s insurance agency, the underwriter may decline to offer a quote altogether or inflate the pricing in order to compensate for the unknowns.
- Agent-A’s brokerage may have placed $5,000,000 of insurance premium with one of your key carriers/underwriters in the past year, while Agent-B’s brokerage has placed nothing with that insurer and may be on the verge of losing its appointment altogether in the coming weeks.
- Agent-A may market all his/her accounts himself/herself while Agent-B uses an internal marketing department which knows little to nothing about your company’s needs and is merely “pushing paper” through the quoting process.
- Agent-A may be able to access an insurer directly while Agent-B does NOT have direct access and has to go through a wholesaler, which adds cost to you, hassle, a lack of communication, and a lack of enhanced coverages you tend to receive with direct appointments but not through intermediaries.
QUESTION: Of these four examples, which agent would you want to represent your company and access your valuable insurance carrier options?
ANSWER: Obviously, Agent-A is the better choice…but how exactly would you be able to know the answers to the above issues unless you had a qualified expert—like me—to assist you in the filtering process?
As your independent insurance advisor who understands the in’s and out’s of the quoting process, I can ensure you get the best results.
Competition assures that both your insurance companies and insurance agent are aggressive in premium and coverage. You get a better insurance program when I handle the bidding process.
I can help you manage the process for maximum impact.
Frankly, the insurance systems and traditions are not set up to make this process easy for you. It can be confusing, frustrating, and time consuming—even to insurance people—let alone people like you who aren’t in the insurance industry.
I’ve built systems and processes that maximize the value you get from the competitive bid process. I’ve built skills in the negotiation of insurance renewals that get my clients greater value.