This article was derived from Mr. Redmond's presentation at the 2004 CPCU Society Annual Meeting and Seminars, which was held in October in Los Angeles.
EVERY insurance agent has been there: You spend hours developing a great proposal and make a convincing presentation to a prospect. You offer a great deal, in terms of coverages, price, market and service. You know you've won the account. But you don't get the order. You've just experienced “practice quoting.”
Practice quoting wastes the resources of your agency and your markets. Working on a “no-buy” unqualified account blocks you from working on a qualified account, one you could have won. Feeling like you've “lost” after investing so much time and energy can stay with you and distract you. It may take you a week to recover.
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