Know Your Carriers

ABC · 04-15-2009, 10:11 AM

If your writing some individual business its important to know your carriers.

I have been writing alot of business with American Community the last 5 months. Last month I went ahead and submitted some cases that had ongoing health conditions. Nothing major but enought to raise the red flag. Well out of 8 apps 4 of them were declined or withdrawn for riders.
So now I know with AC they are not willing to take any risks on anyone over 50. One of the decline I was able to place with Anthem with Standard rates.

Anthem is still more willing to take on risk than any other carrier. They have been my go to carrier for 7 years.

Just started writing with UHC/Goldenrule so I am hoping that their underwriting is as liberal.

I have written a couple of policies with Assurant and Humana but really don't think these will ever be my go to companies in my market.

Its very important to know your carriers. Knowledge is only going to help when deciding which carrier is the best fit for your client. It also help in selling against the carrier to pick up new business.

somarco · 04-15-2009, 10:20 AM

And to think I ran into a guy the other day who said carriers need to cut the agent out altogether because they add NOTHING to the process . . .

J-Ro · 04-15-2009, 03:48 PM

Whats the best way to study and learn carriers. I downloaded brochures to read. Anything else?

dgoldenz · 04-15-2009, 04:12 PM

Originally Posted by J-Ro

Whats the best way to study and learn carriers. I downloaded brochures to read. Anything else?

Read this forum thoroughly. You will learn a lot.

somarco · 04-15-2009, 04:16 PM

Go to meetings when they come to your town. It's a riot.

You not only get to ask intelligent questions of the HO folks and watch them bob & weave but you get to hear some of the questions from agents. I sit in the back and shake my head thinking, I can't believe he asked that question.

ABC · 04-16-2009, 09:04 AM

Writing business with them.

All of the sales reps will give you selling points of their companies but its not until your in the trenches with the underwriting department do you really see company policy.
Servicing claims will give you a clear picture of the company.
You find out real quick how competent the people in the claims department are.

moonlightandmargaritas · 04-16-2009, 10:11 AM

Originally Posted by somarco

I sit in the back and shake my head thinking, I can't believe he asked that question.

Usually right after some suit from the HO goes over a PowerPoint slide that says issue ages are 18-64, some nitwit raises their hand and asks,

"Can you tell me what the issue ages are?"