The Importance of Forming an Effective Relationship Between the Agent and Underwriter

Every sector of the insurance industry has high-performing insurance agents that stand out as experts in their field. Whether a high-performing agent sells commercial lines, personal lines, transportation insurance or operates a coastal insurance agency, they usually have one thing in common: they maintain great relationships with experienced underwriters. For agents, partnering with underwriters is a key component to making both selling and binding insurance quick and efficient.

Underwriters offer a wealth of benefits to the agents they work with. Agents who have strong partnerships with underwriters often find they provide specialized knowledge and skills, support more effective agency operations and enable better agent-customer relations. Overall, establishing a good relationship with an underwriter improves the ease of doing business for the agent and allows them to establish themselves as an experts in their field. So how can agents form effective relationships with underwriters?

Show How Much You Value Their Time

Insurance agents often forget that while underwriters do their best to work in the interests of the agents they write policies for, they are also working for the carriers that employ them. Underwriters typically work with several different agents from varying agencies, with each agent sending urgent requests to them daily. Having reasonable expectations on turnaround shows the underwriter that you value and appreciate the time they spend on your accounts.

Another way to show underwriters that their time is valued is by submitting thorough and complete applications. Agents can help underwriters improve their turnaround time on proposals by equipping them with as much information as possible. Submitting requests with incomplete information may save the agent time, but it means the underwriter has to follow up, sometimes multiple times, to get their questions answered. This slows the process down significantly and also affects the productivity of the underwriter, making them less likely to want to work with that agent.

Help Them Meet Their Goals

Just like agents, underwriters have goals they need to meet in terms of new business production, client retention, hit ratios, high-value targets, risk profile improvement and so forth. To meet their goals, underwriters prefer to work with agents who understand these expectations and operate in a way that helps them be successful. Conversely, underwriters who are able to meet their goals can help agents meet and exceed their goals as well, creating a symbiotic partnership that helps both parties stand out among their respective crowds.

About Wilmington Insurance Agency

Wilmington Insurance Agency delivers comprehensive coastal property solutions. We are a Managing General Agency and provide independent insurance agents with property and liability insurance solutions for residents and businesses primarily in Maryland and Virginia. We work alongside our sister company, Wilmington Insurance Company, established in 1996 and providing Property & Casualty commercial lines business, homeowners, and condominium insurance in the state of Delaware. To learn more about how we can help you to expand your book of business in the coastal market, contact us at (302) 231-2800.