Quoting small commercial can bring big growth

Increase efficiency, leverage technology, and lean on carrier resources are just a few ways to boost revenue and productivity

  1. Start small for big growth.
    Look at your current clients and sell the easy risks first. This could be current commercial customers or personal lines customers who also are business owners. Select the geography and a few industry verticals on which to focus.
  1. Lean on carrier resources.
    Get in touch with your carriers to inquire about the most successful industry verticals they write. Ask what five verticals are the most difficult to place as well as the ones that work well so you know what to target. Low touch is important when quoting small commercial insurance, so avoid going down a path of underwriting all accounts. You can also look to your carrier partners for free educational resources like webinars and tutorials focused on promoting your business.
  1. Get educated.
    Think about small commercial in the same way that you think about education around your personal lines business. Explore continuing education opportunities. Look into CPCU, CIC and AINS certifications. Become an expert to position yourself as a resource for small business owners in your community and beyond.
  1. Build awareness and generate leads.
    First, implement local advertising, social media, and email campaigns. Then consider reliable lead sources. Purchasing verified leads can be an easy and affordable way to get small business owners through your front door.
  1. Simplify your workflow.   
    Managing small business accounts requires efficiency, so process uniformity is key. Find a workflow that works for you and pump leads through that workflow.
  1. Tech helps.
    The right technology can help decrease cost per quote, reduce time spent prospecting, and increase revenue streams. Research your options, and schedule demos with 2-3 top options. To evaluate the technology, inquire about interconnectivity, cost, existing carriers, the extras, and data. Agents who use technology platforms have a strategic advantage as they can process more business and write more commercial accounts, while freeing up time to concentrate on relationship building.

Next Step: Growth

For small commercial, think low touch, high volume:

  • Work to fine tune your marketing strategy to bring in the most profitable leads.
  • Optimize your workflow with technology to spend minimal time on each lead.
  • Leverage carrier partners to streamline servicing and renewals as well as to keep on top of emerging trends.

Master an efficient process, then look to expand into verticals or geographic regions that complement what you are doing well.


Is it good to work with lots of carriers or should I limit myself?

Maintaining direct appointments with many carriers may not be possible. This is where technology comes into play. Bold Penguin has narrowed down question sets so one question set returns multiple carrier quotes. In addition to the direct appointments you do maintain, you can expand your market access through sub-appointments available on the Bold Penguin Terminal. To learn more about the specific carriers and lines of business available to you, request a demo and a Bold Penguin representative will contact you to schedule a one-on-one discussion.

What KPIs do you recommend setting for someone brand new to commercial?

Challenge yourself to either a time limit or call number per week. Don’t focus on premium numbers, focus on activity. Spend four hours per week on commercial. Make the commitment of time -- that’s the first KPI.

Are lead generators affordable for agents who are just getting started with small commercial insurance?

Leads can be affordable if done correctly. You don’t want to pay for a lead that ten other people also bought. Make sure you’re working with a lead generation source that validates and is only selling to you. The Bold Penguin Exchange is a marketplace to buy and sell leads. You set your budget and decide what your maximum bid per lead is.

See first hand how the Bold Penguin Terminal can help you access more carriers, find new prospects, and grow your business with effortless quote and bind technology.

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