Stop Quoting! It sounds crazy for an insurance agent to make that statement, especially an independent insurance agency. I mean, the IA model is the choice model, right? Quoting is in our DNA, right? I talked to agents all the time that said they would never "bid" on someone's insurance, but they are happy to give the prospect a "quote". Newsflash, it's the same thing!
Maybe I have entered into that old and grumpy life stage, but it seems that quoting is officially the most unproductive activity in an agency today. We talk about elevating our perception to a professional level. The Risk Manager level. Yet, we initiate every lead opportunity with "let me work on some quotes for you".
When was the last time you called your attorney and asked him or her for a quote? How about your CPA? Doctor? Hey doc, I don't feel well, can you give me a quote on how much it might take to fix me up?
If that sounds crazy to you, then you're not crazy. But the conversation has to start from a different place and that's what we are talking about in one of our latest IA Forward Podcasts. Tonya Lied even agrees with me on this one!
We did this to ourselves years ago and comparative raters exasperated the issue for us. They made it easier. They even made it very efficient. While I may sound like a contradiction, I am a huge comparative rater fan. But raters are a tool and should be used as such. Carriers even trained us to "quote them every time" and "to increase our quote volume" so that we could "win more". I understand, but I question the value of quoting to the profitability of a standard/preferred Independent Agency.