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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

Embarking on a journey in your recreational vehicle (RV) is a thrilling experience, offering the freedom to explore new places and create lasting memories. However, it's crucial to safeguard your investment with comprehensive RV insurance coverage. In this blog, we will delve into Total Loss Replacement, a vital component of RV insurance that provides an added layer of protection in case of unforeseen circumstances.

Safeguard your business from a financial loss arising out of accidental loss or damage to your vehicle. Avail of HDFC ERGO's vehicle insurance package policies for commercial vehicles.

Secure yourself against losses occurring to your home, its contents, or loss of other personal possessions. HDFC ERGO's home insurance helps you safeguard your priceless property and ensures complete peace of mind.

Liberty Mutual Insurance has released information on auto insurance and losses. Click below for more information. http://www.iroquoisgroup.com/sites/default/files/Liberty-Auto%20trends-MM%20Newlsetter.pdf

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

Travel insurance plans mostly cover medical expenses, personal accident, baggage lost, theft, loss of passport and cancellation. It protects you from any damage or loss you may face during your trip including natural calamities or man-made calamities which are often unpredictable and can happen at any given time.

Policy BazaarTravel insurance plans cover medical expenses, personal accident, baggage lost, theft, loss of passport and cancellation. It protects you from any damage or loss you may face during your trip including natural calamities or man-made calamities.

Obtaining loss runs for a prospective client can be a time consuming and costly process but, thanks to the recommendation of Iroquois Member Agent Mark Pierce of the Colonial Insurance Agency in Montgomery, AL we now have an efficient and cost-effective solution for you.

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.

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.

Beginning with the third quarter of 2017, Iroquois group has upgraded to a new compensation structure with CNA designed to further incent new business through predictable increased revenue to our member agents. Each Iroquois region will now earn a Guaranteed Supplemental Commission of 2% with the opportunity to earn up to 4% based on loss ratio and new business production.1 This predictable bonus compensation is another great reason for us to grow with CNA.

Insurance is a aid that protects you during your losses. Insurance is an agreement between the policyholder and the insurance company under which the policyholder has to pay the company regularly. In return they agree that if certain misfortune happens they will provide you the coverage.

Jewellery insurance policy covers losses that you might face in form of theft, damage, a burglary that helps you to get a cover from it. Sometimes insurance can cover the jewellery the person had worn during a mishap.

Owning an apartment building can be a great way of generating passive income. However, as a rental property owner, you're exposed to several potential risks which can lead to losses and expensive lawsuits. Fortunately, many of these risks are covered by commercial apartment building insurance. In this article, we will discuss common risks faced by commercial apartment building owners and steps to claim insurance.

The winter season is often a challenging time for small business owners. The harsh weather conditions increase liability risks. While small business insurance will cover you if something goes wrong, you can avoid potential complications by preparing for the potential dangers of winter right now. Here are some tips to ensure that your business continues functioning properly during severe winter weather.

Are you an avid adventurer who loves hitting the road in your RV? While the open road offers excitement and freedom, it's important to ensure you have the right protection. It is important to know that your auto insurance will not cover your RV. For this, you need specialty RV insurance that secures you financially by providing you coverage for your vehicle against damage and loss and also for loss and damage caused by your vehicle to others.

There are numerous things to consider and evaluate when looking around for the best commercial auto insurance. To safeguard the business against liability and loss following an accident, theft, or another disastrous occurrence, this coverage is essential for companies that own vehicles or even send staff out on errands in their vehicles.

Pick the best matching travel insurance policy .Travel Insurance helps safeguard expenses while one is travelling abroad, covering loss of luggage, medical expenses and other hefty bills during travel.

yes, it is very important to get one!