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Do you 'throw away' too many referrals? A producer I was working with was ecstatic one hot summer day because he had just obtained 10 referrals from a client. I was excited too and the producer was going to begin working those new referrals right away. Well, in tracking the success of those 10 referrals, only one got written. Is that good or just normal? Let's just say, both of us felt it should have been better. So, analyzing what took place led to the following results: * 2 were not reachable; the producer never connected with the decision-maker. * 2 were messy businesses that the producer realized would be declined if submitted * 3 had strong to severe loss issues * 1 failed to provide all the needed information * 1 was presented, but not sold * 1 was sold Could this one out of 10 scenario have been prevented? That is what we took it upon ourselves to evaluate. The first evaluation made was really there were only three the producer was either able to, or wanted to, quote. So, of that group, he was really one for three. But, what about the rest of the referrals - the ones not quoted? Preventable? In our analysis, many of those were preventable so that you wouldn't end up with 70 percent being "thrown away." The two that the producer was unable to reach were determined to be a problem based on the "introduction" he got from his client to those two prospects. (Note: You do ask to be introduced, don't you, when you obtain a referral?) The person calling their customer (our prospect) from the business was not someone known to them and thus, the call carried little weight. It was not a powerful introduction; it wasn't even a lukewarm introduction, so it was not surprising the producer couldn't get an appointment following that call. The five that were either messy businesses or had heavy losses weren't quality businesses. Was that the luck of the draw and he just accepted that when he asked for referrals, or could

In most agencies, holding customers accountable seems to be one of the bigger frustrations. Have you ever thought or said "why is it always our fault when a customer has a loss that is not covered? They knew that they didn't have that coverage." For agents serious about minimizing the potential of their agency facing an E&O claim, achieving a high level of customer accountability is a great goal to strive for. To achieve this goal may require some hard work and some new initiatives. Documentation is a key but documentation is more than just words in the system. Any agency will be hard pressed to hold their customers accountable without a file that is well documented. However, documentation by itself will not get it done. Agents need to fully understand that when an E&O claim happens, the E&O carrier will look to secure the actual file in question (paper or electronic) to see what it looks like and what it contains. Solid documentation that is handled promptly, is accurate and professional will make the E&O carrier's job much easier. Conversely, a file with sketchy documentation could prove to be a problem in an E&O matter. Effective handling of client interactions is very important. Every day, customers are asking questions, modifying coverages, etc. The questions (and the answers provided) should be fully documented in the agency management system. In addition, requests to delete or decline coverage or to modify coverage in some manner should be documented as well. But documentation only in the system may not be enough. The agency should have a procedure for confirming / memorializing the discussion. Without this, mistakes can occur. Possibly, what the agency heard is not what the customer requested or possibly what the customer advised is not what they really meant. Let's take the scenario that the agency has provided a personal lines umbrella proposal and the customer calls to advise your agency that they are not going to purchase this coverage. W

Annuity insurance plans greatly make people able to take care of themselves in the later years of their life. These plans provide them with a guaranteed monthly income to help take care of their financial commitments as well as their daily life expenses.

When you eat something, it means you want to secure yourself from forthcoming hunger, when you send your child to the school, it means you want to secure your future, when you work and earn it means you want to make comfortable yourself as well as your family, but have thought about the death?

Have you heard the old saying that old is Gold? Well it definitely is. Old and classic cars are very valuable and some people really like to collect classic cars but it is not only because they are valuable, there is much more to it.

Having a Perpetuation Plan for your agency is like having a personal Last Will & Testament. Everyone knows they should have one but many people put off creating one to avoid having to make difficult or complex decisions, or because they simply don't want to think about when they won't be around. Just as dying without a will leaves one's family in jeopardy, not properly preparing for the perpetuation of your agency leaves your fellow employees in jeopardy AND it puts YOUR RETIREMENT in jeopardy as well.

A strong E&O culture and commitment is not possible without a strong commitment to documentation. Documentation that is accurate, thorough, timely and professional is probably the most important component of a quality E&O loss prevention culture. An active audit process will help to determine how well agency standards and expectations for documentation are being met.

Many agency owners don't realize what a "gold mine" their personal lines business can be for them. The market is huge, with over $230 billion in premium recurring each year. The profit potential for agencies is also huge. Personal lines can be an agency's most profitable business segment because well trained customer service agents can service the accounts with little or no producer involvement.

Key employees who are being considered future candidates for ownership need to be told what is expected of them in order to earn the privilege to purchase a minority interest in the agency. Keeping them in the dark can lead to their frustration, resentment and possible loss. This holds true for employees who are not family members as well as those who are.

Auburndale, FL - Iroquois South® announced that Pat Truax has joined the company as a regional manager for Florida. Truax brings over twenty five years of P&C insurance experience in Florida to his new position with Iroquois. He previously served in underwriting and sales positions with Appalachian Underwriters, Allstate, and Zurich. "Pat is very well known within the agency and carrier community in Florida and he will be a great asset to our Members there," said David Ward, Regional Vice President of Iroquois South. Iroquois South is part of The Iroquois Group®, one of the oldest and largest networks of independent agencies, with more than 2,100 members in 39 states. Agencies of all sizes and shapes join Iroquois to increase revenue, profits and agency value. For more information, go online to www.iroquoissouth.com or contact Truax at

Many landlords struggle to decide whether to permit pets in their rental properties. This article provides you with a comprehensive list of advantages and disadvantages as well as the things to keep in mind before making a decision.

No credit check loans have been successfully arranging quick cash support without any lengthy procedure. These loans can apply from anywhere anytime because all services are available online, once you successfully submit your application after that get cash in your bank account and use for any personal purposes and for other reasons as well.

Health insurance plans have been saving people's lives and helping to keep them well for decades. Insurance providers are offering a wide range of plans to cater the specific requirements of people.

Are your parents visiting to see you and you are worried about their safety in the US? Well, there are health insurance plans to protect your loved in the US and visitor insurance plans are made for the same. These are the insurance plans that protect the visitors during their trip to the US and help with an accumulated amount in the event of a tragedy. Let's get to know who can qualify for such an insurance and what are factors you should keep in mind while choosing an insurance plan.

Usually, life insurance plans are considered for parents with a well-maintained lifestyle but that might not be the reality. These plans are made to protect from the tragedies that may happen to anyone even with the kids and students. There are insurance providers offering multiple cheap life insurance quotes for students and they can get these quotes just by making a request online.

the customer understands his or her insurance program in sufficient and necessary detail. These assumptions are fraught with problems. Iroquois insurance group, an Insurance Group Network providing Insurance services (Iroquois services) through Independent insurance agencies nationwide with property, and liability products. Iroquois Group provides Independent insurance agents a Insurance Group Network of providers across the United States.

Mortgage protection insurance plans have emerged as the favorites among the homeowners to realize their dream of buying a house of their own. Different companies are turning up with insurance for a different scenario. Along with protecting from losing your home, these insurance plans have other benefits as well.

Life insurance plans have been ensuring a good future for the spouse as well as kids even in the absence of the sole breadwinner. People are going after different insurance plans including whole life plans and term life plans to cater their specific requirements.

Doctors and medical practitioners greatly help people to get healthy and live a better life but sometimes, they commit mistakes as well. For decades, health insurance plans have been saving the lives of numberless people regardless of their occupation and economical status.