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...efficient to place business with a large number of companies,” says Sharon Cun...00 account,” he says. Platt says that larger agencies and brokers largely ignore these accounts. A typical...

... make up for the lower contingency? If you answered yes, ' you're on the right track to increasing your agency's income quickly and easily, because companies need good agencies and they will almost always increase a good agency's compensation. From an insurer's perspective, companies make an underwriting profit and make all of their money on investments. To make this money, they need volume, which requires agencies with large books. This gives agents the opportunity to earn more income from their lower-paying companies that will negotiate better deals in a variety of ways, such as providing a better contract, increasing commissions, supplying additional marketing support, or negotiating a performance bonus. However, many agents would never consider negotiating for additional compensation because they fear the company will pull out for rocking the boat. This is ridiculous ... . Companies need good agencies with large books to build their volume. They are not going to abandon a good agency or punish them for requesting more money. In fact, they will probably pay the agency more money if its request makes economic sense. The only catch is the agency owner has to ask! As Anthony Robbins says, "What's the key to getting anything in the world you want? ASK!" Recently I met with a large group of marketing representatives who agreed they would increase an agency's compensation if a solid case was made. Additionally, they all laughed when I asked if they would pull out of an agency just because the agency negotiated for more money. Marketing representatives don't get paid for running business off the books! As one rep recently confided, "We ...

...es trying to fight our way through larger ones. As we overcome a competitive h... he or she were a potentially new and large account? 4. Focus On Your Niche. ...

...lume, which requires agencies with large books. This gives agents the opportu...you want? ASK!” Recently I met with a large group of marketing representative...

...t potential in personal lines. The larger agencies with most of their activity centered in larger commercial accounts are the ones tha...ssume that they are. If the agency is large enough and has access to the right...

...rtant. Are you trying to reach new large commercial accounts? Are you attempti...ounce new employees, the landing of a large or influential account or a local ...

...ll-established, Jacobs has built a large library of commercials that are custo...message in pictures and sound. In large markets, the cost of air time is h...

...equency of client meetings depends largely on engineering reports from compani...ly, leases and other contracts create large exposures because of the responsib...

... business brought them together. Aunt Judy's Personal Lines business has been through carrier purchases, automobile claims, jewelry losses, and premium increases. Her trust and loyalty never wavered. She knew it was inevitable that Marie would retire or the agency would be sold. Both happened. Like Jan and Bob, Aunt Judy received notice of the agency's sale. In this case, it was sold to a large regional broker. She was given the name of the new service agent who would be handling her account. Although there was no personal contact yet, at least she had a name. So far, so good. But when she called this CSR with a quick question, she was transferred to the CSR's voice mail (without her consent) . She chose to opt out, knowing that ... agencies that were sold. STORY #1 When Jan and Bob moved their family to Charlotte, they did what many people do to find good professional advisors. They asked neighbors, coworkers, and friends for referrals. Following the recommendation of a friend, they found an agent and were satisfied with that choice for 12 years. Their multi-line Personal insurance package includes Auto, Home, Umbrella, and Boat policies. Jan told me that she felt their business was valued and service was good. One day, Jan and Bob received a letter from their agent advising that he was selling his agency to another local agent and that the new agent would be in touch. No problem, they thought. Months went by without even a letter of introduction from the new agent. Then the renewal policies ...

... INGREDIENTS Four Parts Facts (very dangerous to obtain) One Part Agent's Kryptonite (the most dangerous ingredient) Six Parts Presentation Eight Parts WIFC (What's in It For the Company) Step 1: Carefully gather at least four facts. The most effective facts include: Specific knowledge about successful companies. Many company people deny completely that any insurance companies are successful, when in fact some companies are making large sums of money. My analysis suggests that many insurers are doing just fine, while those in trouble prefer to believe that all carriers are in the same, sinking boat. They also like to believe the cause is no fault of their own and beyond their control. Such denial is prevalent. Here are two examples: A cover letter sent recently by a prominent but troubled P/C ... effectively stated, "As you know, were having trouble, like most other insurers." During a conversation with an insurance company CEO, I mentioned how much another company was making on an operating profit margin basis. He responded, "No insurance company can make that much in this market." Help your companies break out of their states of denial. Show them proof that other companies are successful. This is like helping an alcoholic realize that they're alcoholic before they can begin treatment. Specific knowledge about how successful companies operate. Companies get tired of hearing complaints without suggestions and carefully considered recommendations. Show these struggling people how their competitors are succeeding. These facts are often available from the successful companies themselves when they brag about their achievements. Specific facts about failing companies. Knowing a ...