Understanding your carrier partners' desires and needs can be vital to your agency's future, and independent agents who want to deliver their best to both their customers and their carrier partners would do well to embrace two key things: increased use of data and analytics and focused specialization. (Photo: VideoFlow/Adobe Stock)
Independent agency principals wondering how they can be better partners to the carriers they work with might be tempted to believe that providing a higher number of submissions is the answer — and they'd be wrong.
That's not to say that carriers aren't eager to accept new business; after all, they're facing the same pressures to increase revenue and market share that they have for years. When it comes to submissions, however, what they desire most is quality, not quantity. Yes, your carriers want to grow, but they want to do so profitably, with much greater emphasis on risk selection.
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