The Policy Works Blog

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Posted by Kathleen Kotchon on October 2, 2019

Three ways to boost your relationship with underwriters during a hard market

Insurance brokers work hard to win and retain their accounts, and so do insurers. It’s common ground shared by everyone in this industry. With a hard market upon us, the industry can become a lonely place very fast if you don’t have underwriters in your corner crunching the numbers and bending the rules to make it work.

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Posted by Kathleen Kotchon on September 17, 2019

Three tips on communicating hard market conditions to clients and prospects

Limited market selection. Less coverage for more premium. These are a few indicators that a hard market is upon us. For any commercial broker, it’s a tough conversation to have with any client.

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Posted by Kathleen Kotchon on September 4, 2019

A paradigm is coming. Are you ready for ‘the next big thing’ in commercial lines?

Paradigms and paradigm shifts are cyclical in nature. As soon as one paradigm shift ends or is close to ending, another paradigm surfaces and trends from there. There are always unsustainable forces that drive the paradigm. They go on long enough for people to believe that they will never end even though they obviously must end.

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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.

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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.

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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.
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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.

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Posted by Kathleen Kotchon on June 11, 2019

Creating analytics without data is like making bricks without straw

“Making bricks without straw” is an expression that comes from The Holy Scriptures. The Israelites needed straw to make bricks. If the Israelites had very little or no straw, they still had to make bricks. If you watch the film The Ten Commandments, you know which scene I’m talking about.

If you ‘make bricks without straw,’ you try to achieve something without resources that are needed to do it. —the free dictionary.

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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.

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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.

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