Understanding the Quote Process
By Jessica Eaton, Account Manager – Commercial Lines
Time is of the essence for agents, and we know that is especially true for referrals. The longer it takes to get a price quote, the more likely it is the client may lose patience and go elsewhere. If we understand that at WRC Agency, why does it still sometimes take us time to respond, potentially costing you money?
Most commercial quote requests must be sent to an underwriter to review. We often look at several markets to find the best coverage with the best price.
The Acord applications we often ask that you complete to start the quoting process provide important information. To accelerate the quoting process, it is extremely important to answer all questions on the form. That is how we can provide you with an accurate quote.
If you are unsure about how to complete Acord forms, you can find quick tutorials on the Learning Library on our secure website.
Details Make a Difference
Sometimes, even when you do fill out the forms completely, a carrier will need to clarify details or may request extra information. The best way to keep that quote moving through the system is to fully complete the form and then give us additional details not listed on the form.
In addition to having a detailed conversation with your client, you may have to put on your detective hat. Take a look at publicly available social media sites like Facebook and Instagram, as well as public records websites. You will be amazed the additional information you can find about the risk you are quoting.
Like so many businesses and industries (and possibly your own office), our carriers and brokers also are short-staffed. This can also affect turnaround times on quotes. When we can quote directly with a carrier, we will get it back as quickly as possible. If you know you will have something coming due in several weeks, please send it to us right away. Then we can respond more quickly and you will have time to review it with your client.
We have the availability to write large risks and small risks. If something comes to you that you can’t write directly, don’t hesitate to ask if we have an outlet for it. That is what we are here for! WRC Agency has a great team ready to serve you.