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What's Your Strategy?
 It's
time for the annual "two minute drill" that is the last quarter of the
year.
My question is very simple - Do
you have a well thought out strategy for your fourth quarter cases? Does your BGA? To be even more specific, is there a formal,
documented process for identifying and prioritizing year end cases? Are the carriers active participants in this
process, or is it simply the BGA cherry picking?
These
last questions, and their answers, are not always easy.
At
Cavalier Associates, we have a strategy.
The carriers are on board. All of
our resources are aligned to push as much premium through as we can in the next
110 days. It's time to do what you do
best - go find some cases to push through in the fourth quarter. Where are these cases? Look for them here:
- Cases
that fell a table or two short (or more in some cases!) of getting over the
finish line
-
Cases
requiring more capacity than you were able to source
-
Cases
that require out of the box financial underwriting
-
Cases
that fell victim to medical requirement expiry, free look periods and the like
Essentially,
any case that missed the mark is worth revisiting. One additional consideration: not every case makes the cut. In order for us all to be successful we need
the following from you and the client: Commitment
- If we hit the mark, the case needs to go placed this year.
Clearly
articulated goals - We need to know what it will take to get the case
placed. Specifics are essential!
Responsiveness
- The client has to be willing to provide what we need to hit the goal in a
timely fashion.
Clearly,
applying all of these resources and effort to a $500K term case is not what we
are talking about. This type of all-out
effort is reserved for the "significant" case.
What's significant?
Commissionable Premium is a big part of the equation, but is not the
only consideration. The only way to
determine if the case fits is to pick up the phone and talk about it. Sooner rather than later. The last thing we want is for a carrier to
push back from the table after bringing in enough premium, and have your case
still sitting on a plate.
As
with any successful endeavor, the only way to measure success is to track
it. Last year alone over $7,000,000 of
target premium that may have been "lost" was turned into paid premium, and of
course commission, for our producers.
It's
time to find that wayward case a good home.
Give me a call to get started. |
