How Much Time do You Actually Have to Add New Business?For sake of this discussion, we begin with the idea that the average producer has 2,000 available working hours per year; but not all the “available” time is spent selling. In fact, the amount of “available” selling time is much less.
But “available” selling time is not the same as “effective” selling time. “Effective” selling time is a function of closing ratios. (You do know your closing ratio, don’t you?)
During this session we describe, detail and determine “effective” selling time.
How Much New Business Must You Place to Make Goal? The answer to this question is going to surprise you. For an agency or even a producer to accomplish a new business goal several factors must be considered: 1) retention ratio; 2) “intrinsic” book changes; 3) closing ratio; and 4) average income.
How do You Get to the Top of the Underwriting Pile? Guess what, underwriters are busy. Very busy. And although they are technically supposed to work on business as it comes in, we all know that’s not the case. Underwriters will work first on submissions from agents who make their jobs easy. When the underwriter knows the quality and completeness of your work, you become a top of pile agent.
What does a complete submission look like? It contains:
Getting to Goal – The Realities Most Agents Ignore Outline (0.01 MB) | Available after Purchase |
Getting to Goal – The Realities Most Agents Ignore Handout (0.75 MB) | Available after Purchase |
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.
During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:
Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.
A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist