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Reply to Let's Hear About Your Whale     
Old 02-02-2016, 10:54 AM   #1
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State: Arnage150 is an Insurance Agent from Undisclosed Location
Let's Hear About Your Whale Let's Hear About Your Whale
It's not bragging when it's among peers. Let's hear about a whale you closed recently. What kind of business was it? What was the premium? Commission? How did you take it down? How did you outsell the incumbent?
Did you get that tingly feeling when they signed the apps?
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Old 02-02-2016, 06:26 PM   #2
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State: HCCIA is an Insurance Agent from
Let's Hear About Your Whale
We write a commercial laundry that has grown so much over the years. They recently bought out another national company. Sales doubled as did commissions. Premiums now north of $500k!!
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Old 02-02-2016, 08:57 PM   #3
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insurance1822 on Let's Hear About Your Whale
 
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Let's Hear About Your Whale Re: Let's Hear About Your Whale
Man that's insane. My biggest account is like $15,000 and I maybe have 10 of those. Eff personal lines
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Old 02-03-2016, 08:51 AM   #4
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Derrick on Let's Hear About Your Whale
 
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State: Derrick is an Insurance Agent from Michigan
Let's Hear About Your Whale Re: Let's Hear About Your Whale
Originally Posted by insurance1822 View Post
Man that's insane. My biggest account is like $15,000 and I maybe have 10 of those. Eff personal lines
Yeah, once I establish a good personal lines book, while mixing a little bit of commercial here and there, I'm going to go all commercial.
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Old 02-03-2016, 09:54 AM   #5
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AZDave on Let's Hear About Your Whale
 
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State: AZDave is an Insurance Agent from Arizona
Let's Hear About Your Whale Re: Let's Hear About Your Whale
No whales here, just a few guppies.

" Premiums now north of $500k!!" - A big account like that sure would hurt when you lose it. Ouch! I would have to bank the comm's and not spend them until that accounts renewal is out for the next term.

A few years ago I really put full time effort into commercial lines - contractors. I write a lot of new ventures, and the premiums are usually small, under $10K. Many of those small accounts are now well over $50k, and growing. Granted majority of the premiums are from the work comp.

If the construction stops, I'm in trouble. But I have my personal lines book that pays the bills.

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A bad day of fishing is better than......
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Old 02-03-2016, 10:24 AM   #6
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State: MrGolf is an Insurance Agent from Kentucky
Let's Hear About Your Whale Re: Let's Hear About Your Whale
Working right now on a sawmill/lumberyard that taps in about $140,000. Not sure if I will be able to do anything or not to better their current policy or pricing. If not, I'll just hope for the AOR with the incentive that I can get them into a better WC market (they are currently in an SIF) on their next renewal if this current year stays clean.
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Old 02-03-2016, 10:37 AM   #7
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insurance1822 on Let's Hear About Your Whale
 
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Let's Hear About Your Whale Re: Let's Hear About Your Whale
So Mr. Golf how did you get into this account?

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Old 02-03-2016, 12:48 PM   #8
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Derrick on Let's Hear About Your Whale
 
Join Date: Aug 2015
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State: Derrick is an Insurance Agent from Michigan
Let's Hear About Your Whale Re: Let's Hear About Your Whale
I did a quote for a guy. Had no idea who he was. I wasn't price competitive, but after reviewing his personal insurance, he mentioned that he had hunting property and I told/asked him why he didn't have liability coverage on his property. I explained to him the advantages of extending liability to these properties.

He was so impressed with the level of detail, that not only did he switch to me on his personal (despite being a little bit higher), but he's also the decision maker in a business which does roughly ~$8-10 million in business a year. Worse case scenario is that the guy is going to let me AOR all of his insurance policies. CGLs, business auto, workers comp, etc etc. It's a little frightening that I'm going to get $20K-$30K in commission so easily.

I'll also be doing an in-depth fact-finder for said person and write a fat life policy out of the deal.
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Old 02-03-2016, 02:05 PM   #9
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State: Arnage150 is an Insurance Agent from Undisclosed Location
Let's Hear About Your Whale Re: Let's Hear About Your Whale Arnage150 is the thread starter for: Let's Hear About Your Whale

January is one of my busier months. These were a few of mine:

Solar Contractor: GL & Umbrella, $7,120 in commission
Carpentry Contractor: WC, $23,000 in commission (est as its a pay as you go PEO)
Medical Equipment: GL/Products, $1,900 in commission
Communications Contractor: GL/Umbrella/WC/Auto, $26,600 in commissions
Home Builder: GL, $1,800 in commission
Furniture MFG: Auto, $3,720 in commission

How you like dem apples?
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Old 02-03-2016, 02:19 PM   #10
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AZDave on Let's Hear About Your Whale
 
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State: AZDave is an Insurance Agent from Arizona
Let's Hear About Your Whale Re: Let's Hear About Your Whale
^^^Nice. With a month like that - time to go fishing!

Dave

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A bad day of fishing is better than......
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