January 3, 2019
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Sean Mulhern

Marketing Your Business Insurance to Get Better Rates

Here are five easy steps that start with the gathering of initial information, and end with binding the right policies for your company with an Insurance Broker

Marketing your insurance portfolio sounds like a daunting process—and it can be! Especially if you’re working with inexperienced or tedious agents.


Finding yourself a Commercial Insurance Broker who specializes in writing insurance portfolios for your industry in a streamlined manner is an important step.


This streamlined process should be able to get you pricing through all of the most competitive markets in order to move your account with ease.


Here are five easy steps that start with the gathering of initial information, and end with binding the right policies for your company with an Insurance Broker like myself.


1. Offer Up Your Current Declaration Pages

This will give your Insurance Broker 90% of the information they need to get quotes.


Declaration pages will indicate any adjustments that need to be made to the current year, and the gaps will be filled in with the projected numbers for the upcoming year. As an added benefit you will be able to see any gaps or holes in your policies.


Getting these declaration pages is easy! All you have to do is e-mail your agent.


2. Give Permission to Access Loss Runs

Typically you have to ask your agent to give these to you, which can be a hassle. Our process is super simple though and doesn’t rock the boat with your agent.


We can supply a letter for you to sign that allows us access to your report without bothering your current agent. The loss runs will then be sent directly to you for your files.


This is a report that you should be requesting every two-or-so years anyway, so it should be readily available.


Having your loss runs handy will put you in a good position to market your insurance.


3. Marketing Your Account Widely

Your new Insurance Broker can take over from here and will market your account to as many carrier options as they have access to and will come back with only the best package to move forward with.


A good Insurance Broker will bring expert recommendations to the table to keep you informed about the big decisions you are making.


For example, I have access to over 50 carrier options. I pick and choose the very best programs to fit every facet of your business rather than just picking the easy one sized fits all programs out there.


4. Bind Your Policy

Once you are comfortable with the proposal, it’s time to get the new policies bound with the correct effective dates.


From there, you can send an email to your current agent to alert them of your move.


5. Enjoy the Benefits!

All of the hard work is complete. You can now sit back and take comfort in knowing that if you go with me as your Commercial Insurance Broker, you’re working with the fastest-growing commercial team in the state.


If you’d like to implement the above steps and want to connect, you can reach me via email at sean@thebusinessprotectionteam.com.


- Sean

Author
Sean Mulhern
Commercial Insurance Broker
Sean@thebusinessprotectionteam.com