Sam Louwrens, BSAF
We've seen it a thousand times. Last-minute renewals. Sky-rocketing premiums. Poor communication. The solution, for many companies, is to quote with multiple agencies. This, in their mind, incentivizes competition and gets them the best deal. Twenty years ago, that strategy may have held some water. But not anymore.
Why? Market access.
Agencies used to boast exclusive access to different insurance carriers. This exclusivity gave them leverage that they could use to win new business. "I have a carrier you've never seen before. You can only see their rates through me." That isn't the way the insurance market works anymore. Now, agencies everywhere can access nearly the entire market through a series of direct appointments and intermediary wholesalers. Any agency worth anything at all will have access to several dozens, even hundreds, of different carriers.
When a business quotes with multiple brokers, they end up getting a cobbled-together patchwork of different quotes, with extremely different pricing. This is because each carrier only allows one submission before they "reserve" or "block" the market.
In order to pay the absolute minimum in premium, a business owner needs to incentivize competition between the carriers, not agencies (that all have the same market access).
They need to control the process. They need their renewals early. If there is a premium increase or an unsatisfactory change in coverage, then they need a comprehensive strategy to ensure they cover their bases and navigate the market efficiently.
Jefferson has developed that strategy. And it works.
Tired of your agents communication? Late renewals? Poor transparency? Increasing premiums? Delayed certificates? We're one call away.