The Policy Works Blog

Subscribe now for commercial lines tips, advice, and how-tos.

Posted by Kathleen Kotchon on August 1, 2019

Three ways to make the most of summer downtime at your brokerage

It’s August and we’re now into the homestretch of summer vacation.  Half your commercial lines team is away, and your August renewal list could fit on a post card. If you’re feeling a bit restless and want the clock to move faster, here are three ways to make the most of summer downtime at your brokerage.

Read More

Posted by Kathleen Kotchon on June 28, 2019

O Canada!

Happy Canada Day!

Whether you’re reading this on the bus, your desk, or at the cottage—let’s take a moment to reflect on what a beautiful, amazing country we’re privileged to live in.

Read More

Posted by Kathleen Kotchon on June 25, 2019

Three ways to creatively use analytics at your brokerage

Many commercially-focused brokers are taking advantage of analytics to help make better decisions about their commercial book. Commercial lines analytics provide sound logic and lets you accurately track activities like:

  • Premium volume and policies-in-force (PIF) by insurer.
  • Marketing activity, volume and response times per insurer.
  • Upcoming renewals.
  • Producer and insurer close rates.
Read More

Posted by Kathleen Kotchon on June 18, 2019

Three reasons to resolve your love-hate relationship with commercial lines analytics

Analytics and Data. They’re like that supercilious, overexposed Instagram couple you see everywhere that seem to be joined at the hip. You’ll never see one without the other. They’re that unconquerable team we admire and despise—the couple we love to hate.

Read More

Posted by Kathleen Kotchon on June 4, 2019

Everyone’s a data entry person. Right?

If you’re a brokerage principal, commercial lines manager or producer, I’m sure you’ve “done your time” when it comes to data entry. You started as a junior marketer, or as a one-person office. You’ve typed millions of words and numbers into emails, submissions, renewal letters, certificates and invoices. You are done. You also have other priorities now.

Read More

Posted by John Eastly, President on May 28, 2019

Understanding the different kinds of analytics and how they affect your brokerage

As a business manager, it's useful to understand the different kinds of analytics. Descriptive analytics are the most familiar kind: they describe what has happened. So, for instance, I have dashboards that show our monthly financial results—revenues, expenses and profit—and sales results. I can compare these results against our targets to ensure that we're meeting our goals and to flag performance issues that need further investigation.

Read More

Posted by Kathleen Kotchon on May 21, 2019

Three ways analytics can transform your brokerage

When it comes to generating analytic insights, data feeds the beast. You cannot have analytics without data. Commercial insurance brokers collect huge amounts of data and many of them have been doing it for years, maybe even decades.

Read More

Posted by John Eastly, President on May 14, 2019

What Questions Are You Asking of Your Analytics?

Mind if I get something off my chest? I'd like to clear up a misconception that I've heard circulated in our industry. I might get a bit technical, but don't worry: I'll stay out of the weeds and if you stick with me to the end, you'll be a more enlightened consumer of analytics (and software in general).

Read More

Posted by Kathleen Kotchon on May 7, 2019

Analytics or instinct. What do you use to make decisions about your commercial book?

Having instincts is part of being human. Instinct is what keeps this generation and kept previous generations alive. Knowing when to put out the fire, run from the saber-tooth tiger and retreat from the battlefield, are decisions made on instinct. Instincts or gut feelings aren’t things you're born with, they’re learned.

Read More

Posted by Kevin Campbell, CEO on April 11, 2019

Why I’m Stoked About the CSIO Minimum Data Set for Commercial Lines

The date was February 28, 2003 and I was presenting at one of the early Insurance Canada conferences put on by Doug Grant and Patrick Vice. One of the themes of the conference was "Frictionless Distribution" and I was there to evangelize on the value of XML standards.

Read More