Scraps of Paper

Rough Notes, Dec 2004 by Smillie, A B

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MANY agents, both experienced and otherwise, seem to think that the quick returns from Life and Casualty solicitation are not equally possible from Fire lines. They labor under the impression that all that can be done to develop a Fire account is to secure a sizable list of expirations and then wait until they come due beiore resoliciting all or part of them or, as some express it, "the Fire business is a waiting proposition." While expiration lists are of much value, this "waiting" impression is decidedly in error as scores of aggressive agents are proving daily.

There are a number of reasons for these seeming unsatisfactory results but one of the most common to producers is that they assume too much about their contracts and think too much about the premium which the assured will have to pay. Consequently, when they meet cut-rate competition they either weaken or resort to comparing company with company or price with price, overlooking the most important factor, the contract itself or, more specifically, the form attached to the policy. This coupled with adequate protection from all major hazards is what the assured is primarily interested in and cost is secondary, otherwise to be consistent the assured could save all the premium (?) by carrying his own insurance; which, of course, is out of the question for the average property owner.

Learn about Existing Insurance

Since the assured is principally interested in securing the broadest possible coverage under the policy form and also protection from the major hazards to which he is exposed, it is clearly evident that the insurance salesman must have an intimate knowledge of the assured's present policies and business operations. On first thought this might seem rather difficult to secure but if the proposition is put up to the prospect in the right light no resistance will be encountered, as the assured has everything to gain ...

By A. B. SMILLIE, Mgr. Travelers Fire for Indiana