The number one request agents have made when the issue of small commercial policies comes up is to find a way to conduct the transaction in a way that's less expensive for the agents, according to Ralph Blust, executive vice president for Willis Commercial Network.
"It costs a lot of money to handle [small commercial] transactions because there is just as much work [for the agent] on a $1,000 BOP as there is on a $50,000 commercial package policy, yet there is so much less revenue associated with the account," says Blust. "[Agents] say if there was a way to do less work on the smaller business and yet still provide the level of customer service needed and expected by the client, well, that would be fantastic."
(For more on carrier/agency technology, check out the interview with Nort Salz of Deep Customer Connections. this interview with Jon Siglar of PacificComp, this interview with Belen Tokarski, and this interview with Dan Driskell of Brower Insurance.)
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