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Problem: After having a poor experience a few months earlier with the initial producer, a client was referred to a second producer (hereafter referred to as Mr. Producer) to see if he could explain why the client had received a high rating from one carrier and was also declined by another. The first producer did not know the answer to this question as he simply took the application, submitted it and the APS to the carriers and hoped for the best.
Solution: The second agent, Mr. Producer, established a simple game plan ... learn the reason(s) for the rating/declination, and learn enough about the ratable medical problem to be able to discuss it with his new client and with the carrier's underwriter. In the process of my reviewing the APS, isolating the key underwriting facts and explaining them to Mr. Producer, he learned what he needed to know about the heart condition likely being the primary underwriting issue. With my assistance Mr. Producer created a succinct abstract focusing on the heart condition and favorable aspects of it that strengthened the case. After sending the abstract, Mr. Producer was able to speak to the carrier's underwriter about the heart condition in a well-informed manner.
Outcome: Based on the underwriting responses to Mr. Producer's abstract or "Quick quote", it looks like he will be able to provide coverage for one-third less cost compared to the initial producer's. Also important was that the client was aware that Mr. Producer listened to his question and researched the answer.
Comment: This is one of many examples where it can pay dividends to get your client involved in the field underwriting process when there is a medical underwriting concern; it also demonstrates that creating a brief, medically sound "abstract" to use for a "Quick Quote" may be beneficial.
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