NewDay Risk HAS THE WINNING STRATEGYHow to choose the best Agency for your company?

Not All Agencies and Agents are created equal.  A poor performing program will lead to frustration.  Agents relentlessly call on you and passionately express how wonderful they are and how much money they can save you.  Once the frustration sets in, you may start answering the calls.

Most if not all agents say they have great insurance company partnerships, great service, have special programs and rates, and coincidentally are “experts” in your line of work.

We often hear employers say it is necessary to shop their insurance to “keep their agent honest.”  Or “we shop our insurance every 3 years, because we’ve heard that is the correct thing to do.”  Whatever the reason, you may find yourself compelled to get quotes from the marketplace.  Or, you just might have the wrong agency partner. How do you know which agency is best for your organization?   The answer – ask more questions.

NewDay Risk Consulting is not in the “keeping agents honest” business.  We are exceptional at obtaining quotes, and do not need the practice.  We work our tails off to be a trusted advisor and to solve whatever issues that you may be experiencing.  We fully understand that bidding and quoting insurance alone does not solve problems and will only exacerbate your frustration.

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TOP KEY POINTSEvaluating the Agency Relationship

Claims

  • Supply an 800 Number or do they have an internal claims person?
  • What is their involvement with claims?
  • Do they simply call for updates and regurgitate the information, or do they create positive outcomes? How?
  • What types of questions do they ask regarding reserves or validity?
  • What is their process of communicating the results?

Workers Compensation

  • Does your agent have a professional work comp designation?
  • What is the agents process to make sure the audit is accurate? What steps are taken to complete this?
  • What is the agents process to validate the accuracy of the experience mod? When and how often is this done?
  • How would they improve your risk profile? What steps are taken to accomplish this?
  • What practices are used to mitigate injury?
  • How do they educate and communicate with the providers?

Service

  • Do they offer a performance agreement detailing the relationship?
  • Do they offer a performance agreement detailing the relationship?
  • Do they use a written service plan detailing what and when specific services are performed?
  • A dedicated person or service center to answer your calls?
  • Do they guarantee a same day return phone call or email?
  • How often do you see them?
  • Do they pro-actively engage throughout the year or just return phone calls?
  • Did you get to meet your underwriter or insurance company representative?
  • Do you get to see renewal options or is everything on auto-renewal?
  • Are you feeling like a small fish in a big pond?

Communication

  • How do they engage with your company?
  • What specific programs, technology, or processes will they be implementing?
  • How do they communicate?
  • What information do they need and how do they gather it?
  • How do they hold themselves accountable?
  • What specific services are they promising? How often? How do they measure the outcomes?