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Quote Contest: A Recipe For Disaster

Quote Contest: A Recipe For DisasterThe hard market cycle has created significant challenges for agents and brokers across North America. As the marketplace continues to ...

By Rob Ekern | Updated on March 11, 2002

Quote Contest: A Recipe For Disaster

The hard market cycle has created significant challenges for agents and brokers across North America. As the marketplace continues to change, buyers and prospects accustomed to reducing costs by seeking competition between insurance carriers and independent agents are becoming more frustrated.

“We have decided to seek alternative quotes this year,” clients proclaimed in the past. “What three carriers would you like to be assigned?”

This is a recipe for disaster today. This antiquated process serves no one’s best interest. A “Consultative Broker” (a service mark of my firm) fully understands the reasons why the “old” marketplace selection process is no longer viable for clients:

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