How to benefit from this untapped resource
Here’s a little secret for independent insurance agents: if you want more sales and more satisfied clients — work well with your producers. High-performing agents develop mutually beneficial relationships with their producers. Producers are a goldmine of knowledge, resources and skills that can help agents increase sales and deliver outstanding service to customers. Here is a snapshot of the many benefits of the agent-producer relationship and how to begin to forge this key link today.
A win-win symbiotic relationship
Neither agent nor producer can succeed without the other. You need producers to insure your clients. Producers need you to meet their own goals — like new client generation, customer retention, high-value targets and risk profile improvement.
The better the agent and the producer work together, the more productive and profitable the exchange. Neither of you will reach your full potential if one half of the relationship is simply dialing it in.
When using quick quoting tools to expedite sales, it’s easy to forget there’s a highly skilled human at the receiving end who would actually love to help your business thrive.
Invest a bit more in that exchange — by having reasonable expectations, crafting quality submissions and communicating with care — and you will enjoy the best of your producers.
Producers can help you:
- Identify customer exposures
- Solve problems
- Get policies priced quickly
- Secure more business
- Retain customers
- Find best-in-class opportunities
- Develop a profitable pipeline
- Tap into specialized knowledge
producers tend to have vast knowledge of their market and can see opportunities. They have access to a lot of data that they can use in your favor, so they can easily become a trusted confidant who gives you a competitive edge.
As producers help you meet your goals, they also meet their own goals. It’s a symbiotic partnership that helps both parties excel and become successful allies to your mutual client – the insured.
Faster turnaround times are just the icing on the cake
Agents undoubtedly shop for the best price, but most also cite ease-of-use and quote turnaround as crucial to their business success. Forming relationships with producers gives you exactly this: a swifter and easier end-to-end process.
The more client data you give your producer, the easier it is for them to price a policy and identify all exposures. Taking care of this basic producer need, dynamically reduces time-to-bind.
There’s a lot more to tap into in the agent-producer relationship than that, of course, but even if it’s just faster turnaround you’re after, working collaboratively with producers is key.
Holding up the agent end of the relationship
Taking shortcuts when preparing submissions may seem like a time-saver, but it is actually counter-productive for you. It not only slows down your turnaround time, it also limits your producer’s ability to use his or her best skills and knowledge to benefit you, your business and your clients.
Producers like working with agents who operate in a way that helps them be successful, too. Here’s a rundown of exactly what producers need for speedier turnaround on E&S bind requests.
Believe us — it brings them such joy when they receive a submission that gives them everything they need to swiftly process your application. They’ll be waiting for your next request.
MacNeill has been in the business of hard-to-place risks for over 75 years, offering independent agents access to diverse admitted and E&S offerings with top-rated and exclusive carriers that help clients protect their assets — even in the toughest-to-insure markets. We connect agents with talented teams of producers that help them be successful with E&S placements in Flood, Personal, Commercial and Transportation lines.