CL Marketing

1. CL Marketing Presented by Yamilet Gastelum Richard Kunz John Egan

2. Who has a referral program/plan that brings consistent commercial referrals monthly? Please tell us about it. How many a month? Getting CL Referrals

3. What is the plan? • Ask for referrals at the time of closing every new customer sale. They will never be happier than at that point. Use this unique method to do so. A Simple Plan That Works Every Time

4. How do I execute this plan? • Don’t just ask for a referral! Have a prospect list you have prepared to show them at the time of closing the new customer sale. The list is a list of all your target prospects in the same specific industry class, in the geographic area you are willing to drive to see a prospect. A Simple Plan that Works Every time

5. “Mr. Smith, would you be kind enough to review this list of prospects I am considering calling on that are also in your industry? On those you know, I would like your opinion of them and be able to use your name when I contact them. Would that be alright with you?” A Simple Plan that Works Every time

6. Have them circle or highlight the business names they know. A Simple Plan that Works Every time

7. When you go by and see these business owners, you tell the prospect you were referred by Mr. Smith because you have just written his insurance and he was quite happy with what we were able to do for him. Could we meet and talk about what we can do to help reduce your cost of insurance and provide better coverage? A Simple Plan that Works Every time

8. Questions? A Simple Plan that Works Every time

9. The Cultivation Referral Program – Cultivate a relationship with people who could provide you referrals to the industry groups you are targeting. Cultivation Referral Plan

10. Who are potential people that have a relationship with business owners you want to write insurance for? • Examples: • Associations • Business coaches • CPA’s • Suppliers • Bankers • Vendors • Lawyer’s Cultivation Referral Plan

11. How do I begin to cultivate a relationship? • Send personalized letter of introduction and share what you do for business owners & why you are the best insurance agent/risk manager out there. Cultivation Referral Plan

12. Includes agency brochure and information selling who you are and your agency • Invitation to go to breakfast or lunch or get a coffee (You pay) – (Coffee Mug campaign) • In person meeting to discuss in more detail how you help business owners purchase the best insurance solutions • Discuss their willingness to refer clients they have to you in the industries you are focused on. Cultivation Referral Plan

13. Discuss potential referral fees paid (Not the same as inducing consumer to let you quote or purchase your insurance - $10 limit by law) • Give them time to think it about and set a follow up meeting (you pay) a week later. • In the follow up meeting, solicit commitment to provide you some contact information of some business owners and begin. • Send personal thank you card and or personalized letter with Starbucks gift card for $10-$15. Include several of your business cards. Cultivation Referral Plan

14. Now put them on a follow up contact list to drop something off at their office monthly. (donuts, bagels, etc.) Cultivate the relationship by being in contact with them regularly, have lunch or breakfast occasionally, maybe quarterly. Cultivation Referral Plan

15. Follow up quickly with the any referrals received, and always report back to them on the results of the referral, even if you were not successful in quoting or writing the business. If you sell an account, then send them a personal thank card with something more significant as a referral fee. Maybe a $25-50 gift card or something more depending on the size of the revenue of the account. Cultivation Referral Plan

16. Continue the cultivation process of monthly contacts to keep your name in their minds. Share good information that pertain to you, your agency and businesses in general. Build your reputation and street cred. • Be creative in what and how you do things. Stand out from the crowd. Cultivation Referral Plan

17. Questions? Cultivation Referral Plan

18. Other Referral/Lead Sources • Contractors: Review your customers certificates of insurance for them as a service. All cert holders are potential referrals with policy data to know when insurance renews. • Reviewing Public Information- Example Childcare Certificates with CPS Other

19. Who has an effective target marketing plan that is working well? Please tell us about it. Target Marketing in CL

20. Target Marketing - Become an Expert • Our experience, and what we see in the industry, the most successful commercial lines agencies have a specific target marketing plan for writing commercial lines consistently. Such a plan is necessary to have great success writing commercial lines that fits the carriers you represent as well as the kind of business you want to write that is profitable and could earn you the most income. Target Marketing

21. Basics of Target Marketing: • Target Market = A segment group of businesses that fit specific criteria established by the agent. Target Marketing

22. Criteria of Selecting the Target Markets= • Very specific industry class (contractors too broad – specific contractor group such as commercial electrical contractors) • Is a competitive class currently written by carriers you represent. (All lines) • Adequate number of prospects in geographic area you are willing to travel to write business • Average premiums of the account meet your expectations or plan Target Marketing

23. Knowledge and expertise in writing the industry class of business (knowledge & expertise can be learned) • Currently write some customers in this industry Target Marketing

24. Developing Expertise = By learning the industry and truly developing expertise in an industry class you will know more than your competitors and be able to demonstrate to prospects a real difference as to why they should choose you as their agent. Study all you can about the risk, exposures and coverages unique to the industry. Read trade journals of the industry, join an association, talk to carriers, loss control and others. Learn the challenges to loss they have and solutions to those challengers to reduce potential losses. Target Marketing

25. Be familiar with the business terminology used and what it means. Be able to use that terminology in your discussions with prospects. Don’t be afraid to say you have expertise and/or specialize in writing their type of business. Differentiate yourself with your professional approach of helping them reduce risk and loss as well as reduce their cost of protection. (A big reason why they should choose you versus other agents) Target Marketing

26. Other Considerations in Selecting a Target Class – Changes in Insurance Exposures Needed to Address New Trends. • New Trends Require Coverage – Top 5 • Cyber Insurance • Drone Insurance • Contingent Business Interruption Insurance • Directors & Officers Liability Insurance • Umbrella and/or Excess Liability Insurance Target Marketing

27. The Target Marketing Plan • Establish at least 6-8 target classes of business as an agent (Might be 12-20 in an agency) you are focused on writing and which meet the criteria you have established. • Establish your plan of contacting, introduction and marketing to those prospects in the classes of business you are targeting Target Marketing

28. Get contact information for prospects meeting the criteria (Reference USA, association lists, carrier lists, Sales Genie, MiEdge) • Other Resources? Target Marketing

29. Marketing Materials Supporting Your Expertise • Printed brochures as well as electronic brochures • Special Target Websites • Blogs Target Marketing

30. Questions? Target Marketing

31. Qualify Prospects – Stop Practice Quoting! • Know your Ideal Client Profile. What does your ideal client look like? Remember…NOT everyone is an ideal client…and in fact some can be quite un-ideal. • Always use Checklists & Risk Surveys(Producer Online Tool) when available from your insurance carrier markets and other online resources…these forms will make you look prepared and professional. NO more yellow pads! • Make sure you have an Agency Brochure or Flyer. • You must have a professionalwebsite that is CURRENT and interactive with your clients and prospects! Other Tips in Writing CL

32. Act, dress and look professional. Again…NO more yellow pads! • Use a Calendar. Its purpose is to get you to spend at least 20 hours per week face to face with clients, prospects, and centers of influence. Before you say that you can’t dedicate 20 hours per week to this one thing, please note that 20 hours is only 12% of your total week! In reality, most producers don’t come anywhere close to that number. • Know your insurance carrier markets…know their target industries and classes…know your underwriters! • Regarding underwriters…here are 4 ways agents can help their underwriters write more business: • 1) CommunicationInsurance agents typically are terrific communicators with their prospects and customers. However, agents often overlook the importance of maintaining a clear channel of dialogue with their underwriters. Here are some tips on how you can improve your communication with underwriters. Other Tips in Writing CL

33. Be crystal clear using email. Email can be a great communication tool. It’s fast, easy, but can also lead to ambiguity and misunderstanding. When using email, specify what it is you are wanting accomplished and provide all the pertinent information. • Pick up the phone. How many times have you been involved in an email conversation with multiple replies. Most times, one phone call would have saved you time and frustration. • If you receive a memo or email from an underwriter that you don’t understand, pick up the phone and call that underwriter. • Also…emails do not pick up the tone of your voice and can be taken the wrong way. I love sarcasm, but if my email recipient does not understand my humor, funny can turn into angry. • 2) PatienceAgents want to get things done now if not sooner. That is a trait that can succeed but can also cause strain with your underwriter. • Ask for a reasonable response time. Often, underwriting receives hundreds of phone calls and emails per day and will get back to you as soon as they can. Believe me, they are not ignoring you, just working as fast as they can to get to everyone. Underwriting goes through cycles so sometimes they may be able to respond quickly and other times they may be behind. If behind, try to be patient. Other Tips in Writing CL

34. There are times when underwriters will respond slower than necessary, but that is the exception, not the rule. • Having clear communication up front will help set expectations and make sure everyone is on the same page. • 3) Be a Frontline UnderwriterAs an agent, your job is not only to write new business, but also be the first line in underwriting. • Know the risk. In property and casualty insurance, look at properties before submitting them. Understand the risk you are trying to write as much as possible. Verify with underwriting prior to submission if it is something the company wants to write. This will save you and your underwriter time. • Use Technology. Check your prospect’s website. That is the first place an underwriter will go so make sure you know what your prospect’s website contains. • If you are unsure of how to best rate or complete the application while quoting, call underwriting don’t just guess. Collect as much information as possible before submitting the account. Nothing is worse than selling an account and having the company issue/cancel or increase in price because the information wasn’t 100% accurate. Other Tips in Writing CL

35. Think Team. Insurance agents can think of themselves as conquerors. High achieving agents are goal driven, highly competitive, and focused. Those are fantastic traits, but insurance is a team sport. Not only do you need a great service and support team, but you need a great underwriting team. Make sure you share this approach with your underwriter.  When you win, they win. Make sure you acknowledge and show appreciation for your underwater when they help you land that new account. Just like your prospects and clients, underwriters want to do business with those agents they know, like, and trust. • The Bottom LineBuilding and maintaining a strong relationship with your underwriters is vital for success. You need to nurture these relationships just as you do with your prospects and customers. • It takes an effort to do the things necessary to establish credibility and respect with your underwriters. However, that effort will result in writing better and bigger business for your agency. • An agent or agency must ensure that everything they do is about getting results…NOT just staying busy with activities. Specifically, they should know what we are doing to: Other Tips in Writing CL

36. An agent or agency must ensure that everything they do is about getting results…NOT just staying busy with activities. Specifically, they should know what we are doing to: • a. Proactively manage their relationships with clients, prospects, and centers of influence, and • b. Install exit barriers that will result in great retention, and • c. Create such an outstanding client experience that they earn nonstop referrals. • Remember…Results come from Relationships, Retention, and Referrals • Be Relentlessly Prepared.  Every opportunity deserves an agent’s very best, and they should be relentlessly prepared to compete at the highest level. For instance, if a personal lines agent is going to do an annual review with a client, he or she had better be prepared for it. The same goes for the people who must deal with tough claims, loss control situations or other insurance-related issues. Agents must that are prepared for every meeting, every question and any contingency that might arise. • Daily…prepare, practice, and rehearse. An agent controls this part of the sales process and should use it as an unfair advantage. Other Tips in Writing CL

37. Questions? Other Tips in Writing CL