How the Insurance Provider You Choose to Work With Impacts Your Business and Bottom Line – An Interview with The Rough Notes Company, Inc.
Posted on: October 9, 2020 by Care Providers Insurance
In this interview with The Rough Notes Company, Inc, our Northeast Underwriting Manager, Ed Partridge provides an overview of the six major factors agents should be looking for when deciding to work with an insurance provider.
Determining which insurance provider(s) you partner with to serve your clients is one of the single biggest decisions that can make or break your business as an agent. While pricing will always be a key decision driver, it’s hardly the only factor that impacts your bottom line. In fact, it’s just the tip of the iceberg in terms of what you need to consider when choosing a provider that will help maximize your profitability.
This is particularly true for niche markets, such as the nonprofit and social services space. It’s a highly attractive, stable and growing market with loyal clients, untapped potential and the privilege of serving organizations that serve critical needs in the community. For all of the opportunity it holds, however, the diversity and complexities of the industry make it even more imperative that you work with an insurance partner that can set you and your clients up for success.
Here’s what to look for when selecting a best-in-class insurance partner to bind nonprofit and social services accounts, and how these qualifiers affect your business and bottom line.
Working with an insurance partner that has in-depth, niche expertise brings the benefit of being intimately familiar with the coverages your clients need, and, importantly, the specific risks they may face. This includes knowing precisely which liabilities to look for and the right questions to ask across all lines of coverage. The more experience you can draw on, the better positioned you will be to make sure accounts are priced properly and that you are providing appropriate, comprehensive coverage for all of the ‘what-ifs’ that may arise, even as an organization evolves. Ultimately, leveraging a partner’s expertise to complement your own can make you an even more valuable asset to your clients, not to mention help you sell against the competition with a proven A+ product.
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