Insurance Agent Forum

[dankisllc]

This is something that can be a good arrow to add to your quiver to get the upper hand on a comp case.


We are a small P&C shop in Connecticut. For the past 15 years our primary business focus has been small commercial insurance cases. Early last year we were exposed to a process known as premium recovery.
The idea behind premium recovery is simple. Double-check the classifications, rates, experience modification factors, payroll audits, and other rating factors that insurance companies use to calculate the workers' compensation premiums.
The results thus far have been incredible and have become a fabulous way to help a prospect while demonstrating a level of expertise that the incumbent has not shown. All while creating an extra revenue stream.


If you guys want some more info PM or ***********

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[saieddie]

Am I missing something or don't you double check the experience mods, payroll, and class codes when you do a quote?

[dankisllc]

The amount of expertise involved in checking the calculation of a experience modification rating is above and beyond the expertise of most agents.

There are just too many factors to consider in the process.

The class codes depending on the industry type can become very tricky.