Calling Commercial Accounts for X Dates

Jun 7, 2016

  1. mschlange

    mschlange Super Genius

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    Wanted to see if anyone has had any success on calling companies for x dating to quote there business insurance?
    What script worked best and what kind of return might one get.
    Fairly new to the pc world and trying to leverage my time and return.
  2. Placementkid

    Placementkid Expert

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    I would suggest using X-dates as a secondary approach. You always want to ask for the business now, you never know what kind of issues might be present, whether it be service, price or both.

    I don't know about you, but I would rather work on it when I'm the only one quoting vs 3 other agents fighting over the same markets...

    X-dating is good if the insured only markets on expiration or you couldn't be competitive, no markets, etc...but then you get multiple agents in there too.

    I would say that one should keep their sales pitch very simple and honest. If you feel you bring service, pricing and risk management to the client you are calling on, explain to them how you can help them. Try not to sell them on it, just tell them how you think you can help them and make sure it doesn't sound like it's going to cost them a lot of time and/or money.

    If you specialize in certain areas, make sure you focus on what you did to help former clients and try to continue to do that for future customers.
  3. grizznation

    grizznation Expert

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    I agree. If you're calling for appointments and the prospect is unwilling to meet, you can usually still get an xdate.
  4. gambrinus

    gambrinus Guru

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    Bang on enough doors and you'll soon have a list of x dates for every month on the calendar. Important piece to this is having a lead tracking system so that the information that you wore out a pair of shoes to gather doesn't go to waste. "Which tracking system?" is a conversation to itself.
  5. XdateNotSexDate

    XdateNotSexDate Expert

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    Naturally I am biased towards the Xdate approach vs mid-term. The pros for quoting mid-term, as mentioned, are spot-on.

    There are some caveats to it though. For one you have to factor short-rate penalties that usually apply to auto and WC lines. You can side-step them by letting the policy go down for non-pay but you're kinda burning a bridge with a market doing it that way.

    Although you're (probably) not competing against several agents as you might when quoting on the renewal date, the insured doesn't have the motivation of expiring coverage to get them to write the check. So, you could deliver a quote that is better/more cost effective, etc but now the prospect has all the leverage. Maybe he pulls the trigger. Or maybe he says this is good but I don't feel like shelling out another 20% deposit. Or worse, it's good, he gets angry at his agent and gives him an earful..which lets the agent know he's got competition.

    Personally I'd rather fight against 2other quoters and an asleep incumbent than an incumbent that knows they're being shopped.

    All of this is very situational though. My opinion is that quoting on renewal date is a good primary approach and mid-term as a good secondary; with the agent making the call based on the situation and how much they can trust the prospect.

    As far as Xdates go, there are resources available to purchase business lists with Xdates, Carrier info and some other relevant info.

    In many states to you can go directly to the rating bureau for Xdates; some are free, some aren't and what you get varies. In most Ncci states we're less than half the cost of going direct and you get a lot more info/capabilities. feel free to pm me if you want to discuss further.

    Best of luck.

    Rob - Prospecting Data for Commercial Agencies