"Your call is important to us."
We've all heard this line from a customer service representative or automated recording. As customers, we are not only conditioned to NOT believe this statement, but to believe a terrible service experience is about to take place.
Which is why we had to share some unsolicited feedback we recently received from a customer and user of Policy Works. Here is what she had to say:
The talent gap. Every brokerage principal is faced with the challenge of finding and developing talented producers, account managers and CSRs. But brokers also need to deal with another talent gap that directly impact their success: underwriters.
Many of the brokers we talk to face the challenge of dealing with new underwriters who often receive only basic training and are thrust onto the front-line of risk assessment.
One of the things we routinely see when working with new clients is that their documents tend to take on the personality of the person generating them. We call it the “chameleon curse.”Read More
If your submissions tell a story to underwriters about any given risk (the subject of our last blog post), then your proposals should tell the same story, but to a different audience – the business owner. How well you tell that story - the prospect’s own risk story - is often the difference in winning the business from the incumbent broker.Read More
We’ve been hearing from more and more brokerage principals that they are switching BMS systems for their personal lines. The common thread from all of the conversations is a focus on the benefits that will come from the improved features, or functionality, that the ‘new’ software will bring.Read More
Overheard at a brokerage recently: “We can’t seem to hire the ‘right’ producers.” A similar comment from another principal: “When we bring new people on, they don’t ‘get it.’”
We hear these refrains from brokerage owners and managers on a pretty regular basis. It’s a reality summed up in the old truism: “good people are hard to find.” Or are they? You really have to ask: exactly what aren’t these new hires 'getting’?
A mid-size brokerage had a longstanding commercial policy with an office maintenance and clean-up firm. The account was coming up for renewal just as the senior producer who handled the account was on a two-week vacation. The maintenance company informed a junior account manager, who was covering for the producer, that it was expanding its business into industrial cleaning, including some chemical and oil spill remediation.Read More
Imagine your management team is in a meeting room with a huge white board. The question of the day is simple: How does your brokerage define success in commercial lines? Write it down.
The quick responses come easy. Profitable growth. High retention. Client satisfaction. Efficient operation. Trusted employees. Access to valued markets. Solid reputation. Visible brand. These are the business outcomes that will help you grow and become successful. The challenge is, how do you turn desired business outcomes into actual success?Read More
Have any of these situations happened to you recently:
- an experienced CSR quits abruptly and leaves a large share of commercial clients temporarily “orphaned";
- your account manager needs to process a renewal for a client but can't find the Word document on your server, or;
- a producer loses a key account at renewal due to an aggressive price/coverage bid from a competitor.
One of the most common reasons brokers turn to an automated solution for commercial lines is because a staff member, typically one with the most experience in commercial, is leaving. Many brokers don’t think about the state of their brokerage's commercial book until a key staff member gives notice, and at that point it's often too late.Read More