Posted by: jmwilsonmga | May 24, 2011

10 Tips to Get Your P&C Quote Quickly

Here at JM Wilson, we pride ourselves on the speed of our service on all new submissions, whether it’s a $500 account or a $50,000 account, you will get a response from us within 24 hours!

But, there are things that you can include with your submission that will ensure you will get a firm, bindable quote right away, rather than a list of underwriting questions.

We know how important speed of quoting is to you and your clients, so here are some helpful tips to help get your submission fully quoted, and quickly!

  1. Cover page – A short paragraph describing the risk, and explaining anything that is not clear on the application is immensely helpful to your underwriter!
  2. Loss history – If there have been any losses, we will need to see 3 year currently valued loss runs, additionally your explanation of any losses can greatly assist us.  If there have not been any losses, we generally can quote subject to receipt of the loss runs.
  3. Website addresses – If available, can be very helpful in understanding and underwriting a risk.
  4. Prior carrier information – This helps us to determine more about an insured’s past history – were they or are they insured with a standard market? Are they being non-renewed for some reason? Are they with a carrier we currently represent? Prior carrier history can help answer all those questions.
  5. Target pricing – Helps us to help you! If we know what price you can sell, you can be assured our underwriters will do everything they can to meet that price. We want to help you write the account!
  6. Property Coverage Needed? Complete building information when property coverage is desired will get your account quoted much more quickly. Things we need to know include construction type, protection class, year built, building improvements information, square footage and whether there is a central station burglar alarm.
  7. General Liability exposure information – most accounts are based on sales, payroll or square foot area – be sure to indicate the proper exposure basis for our rating process.
  8. New Venture?– A few words about the insured’s prior experience can be very useful.
  9. Supplemental apps when necessary – if you are ever unsure as to whether your client will need to complete a supplement – feel free to call us, we will be happy to send you the proper applications right at the beginning of the process.
  10. Your contact information – it seems simple, but making sure you include your e-mail address, agency name and fax number on your submission ensures we will get your quote to the right person and place, right away!

We are here to help, and understand you may not always know what is needed to get a firm quote for your client, but whenever it is possible to provide the information above, the smoother our transaction will be. We look forward to working with you and send us those submissions!

About the Author : Roxanne Barry, Michigan and Southern Region Property & Casualty Branch Manager

Roxanne has been a part of the J.M. Wilson Team for over thirteen years and currently serves as the Property & Casualty Manager for Michigan and the Southern Region.  She manages, grows, and leads her department which includes other lines of business such as Professional Liability, Errors & Omissions, Directors & Officers, Employment Practices Liability, Products & Manufacturing, Medical & Health Related Professional Lines, and Excess.  She loves that everyday in her position brings a challenge, whether she is researching coverages, classes of businesses, or even learning about an insured’s business operations.  She also loves working with her team of underwriters and watching them grow within the industry.  In her spare time, she loves to enjoy the art and music in Kalamazoo, Michigan.  Although Kalamazoo is not a large city, it is unique in offering a variety of art, performance, culture, and food (home of the famous Bell’s Brewery!).

Connect with Roxanne on LinkedIn

Disclaimer :  This article is for informational purposes only.  There is no legal advice being suggested or proffered.  The author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.  This article is the opinion of the author and is not supported or endorsed by J.M. Wilson.  It should not be relied upon and may contain inaccuracies or content may have changed over time, contact your underwriter for the most current and accurate information.  Any comments or responses are the opinions of their authors.  Content on this site is believed to be covered under Fair Use.

Copyright 2011 J.M. Wilson Corporation

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