The number one request agents have made when the issue of small commercial policies comes up is to find a way to conduct the transaction in a way that's less expensive for the agents, according to Ralph Blust, executive vice president for Willis Commercial Network.
"It costs a lot of money to handle [small commercial] transactions because there is just as much work [for the agent] on a $1,000 BOP as there is on a $50,000 commercial package policy, yet there is so much less revenue associated with the account," says Blust. "[Agents] say if there was a way to do less work on the smaller business and yet still provide the level of customer service needed and expected by the client, well, that would be fantastic."
(For more on carrier/agency technology, check out the interview with Nort Salz of Deep Customer Connections. this interview with Jon Siglar of PacificComp, this interview with Belen Tokarski, and this interview with Dan Driskell of Brower Insurance.)
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
