RealTimeExpress Blog

December 11, 2012

Business Owners Policy. What Consumers Expect From Their Agent.

First, let’s define Business Owners Policy (BOP).  A BOP policy in general is a package policy that includes both property and general liability insurance.  In many cases additional coverages can be added.  A BOP policy covers businesses in the case of damaged or lost property.  In other words, in the event of a claim, you’ll receive enough settlement to replace the property.  The policy can also include personal property.  The liability portion of the BOP protects the business against claims of bodily injury or property damage.  It can also cover legal defense, libel, slander, & even false advertising.

Now the real question.  What do consumers expect from their Agents?

First of all, most policies, depending on the type of business, will have an average premium of $2,500.  For the small business, this can put a big dent in their annual budget.  Most businesses expect the agent to shop more than one market. Doing so, assures the business they are getting the best deal possible.  Price is important.  Using a small commercial comparative premium rater like RealTimeExpress.com allows the agent to immediately build trust by shopping all their markets with a single entry.

Secondly, businesses expect their agent to be the expert.  The agent must know about additional location/building coverages as well as policy enhancement packages.  The agent that knows this information establishes them as the expert in the industry.

Third, businesses expect their agent to explain the differences between multiple insurance company quotes.  Explain why one carriers premium may be higher than another.  Explain why one carrier may offer additional coverages and how that affects pricing.

Agents, for more information about RealTimeExpress.com, contact Mark Van Horn at 214-295-1586.

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May 7, 2010

How To Make Money Writing Small Commercial for MGA’s

Filed under: Commercial Insurance — realtimeexpress @ 6:51 pm
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Question:  Can you make money writing small commercial? 

Answer:  Yes, but only if you are taking advantage of current technology.

Yes, it is possible to make money writing small commercial business.  Most MGA’s, GA’s, & Wholesalers shy away writing small commercial business because it cost them too much time to process and the margin for profit is so small it doesn’t make sense.  Most are asking for & selling Middle Market type business. 

Here’s the Good News!  MGA’s can how offer small commercial business and make a profit.  How?  By not quoting the business.  You only touch the business once!  You heard me right.  NO MORE QUOTING!  Instead, lead the independent agent to your website for quoting.  You can take advantage of current technology that allows you to push the quote entry out to the independent agent.  In return, the agents gets real-time quotes with a single entry for multiple carriers.  It’s a WIN WIN!

For more information, please contact me at mvanhorn@quantumsys.net or call me at 214-295-1586.

Here’s to processing Binders!

Mark Van Horn

December 29, 2009

What is BOP Insurance?

Filed under: Commercial Insurance — realtimeexpress @ 3:49 pm
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Businesses big & small face many risks.  Business owners need insurance to protect their business and assets.

What is a BOP?  Many business owners simply do not know.  A BOP is a Business Owners Policy.  It’s a package of insurance.  Coverages include Property Insurance, Business Interruption Insurance, & Liability Insurance.  Most carriers also offer package enhancement endorsements.

A BOP does not cover Workers Compensation, Professional Liability, Auto Insurance, or Health and Disability Insurance.  These risks must be covered by separate policies.

Consult your insurance professional today about BOP Insurance!

RealTimeExpress allows agents to access BOP Insurance quotes for multiple carriers with a single entry.  For more information, contact Mark Van Horn at mvanhorn@quantumsys.net or call 214-295-1586.

August 25, 2009

Fast Track to Small Commercial Success

Filed under: Uncategorized — realtimeexpress @ 7:21 pm
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Did you know small commercial insurance policies (BOP, Commercial Auto, and Workers Compensation) are at $95 billion industry and they account for more than 40% of the commercial business written in the United States?

That makes Small Commercial a great market to be in – specially if you have the secret weapon, a commercial comparative rater, designed especially for agents with direct appointments.

Have you ever wanted to have just one place where you could:

  • Input your data in one website
  • Not have to re-key anything, or answer the same question twice for your direct appointments, and
  • Receive multiple quotes from national carriers such as Travelers, The Hartford, CNA, Liberty/Safeco, and Zurich in real-time?

That’s exactly what comparative raters can do for you.  You will receive multiple quotes, as if you had entered each account into each carrier’s website, without the risk of keyboard errors.  And you get to keep your commissions and contingencies!

Are You Miss Out on These Benefits?

  • Efficiency – save time by entering information only one time
  • One system and one set of questions containing all carrier eligibility rules
  • Allows additional time for service, prospecting and closing

To learn more about RealTimeExpress contact me, Mark Van Horn at mvanhorn@quantumsys.net

August 17, 2009

5 Reasons To Use A Comparative Rater For Commercial Insurance

Filed under: Commercial Insurance — realtimeexpress @ 7:15 pm
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Premium Summary

Premium Summary

Here are 5 really good reasons to use a comparative rater for standard commercial insurance (BOP, Commercial Auto, & Workers’ Compensation):

  1. Going to each carriers website to enter data causes quote fatigue.  It’s impossible to shop each carrier appointment.  Using a comparative rater for commercial insurance allows you to enter data one time and get back multiple quotes in real-time.
  2. No longer do you have to know the appetite for each carrier.  The comparative rater does it for you.
  3. Side-by-side comparison.  With comparative raters, you can view a side-by-side comparison of each carrier coverage and quoted premium.
  4. Data is pre-filled at the carriers website.  When you get a quote with a comparative rater, the data is pre-filled at the carriers website.  No more duplicate entry.
  5. More time for selling.  Using a comparative rater allows the user to spend less time quoting and more time selling.  This helps your bottom line.

For more information regarding comparative raters, contact me (Mark Van Horn) at 469-892-9849.

July 29, 2009

How To Find The Best Deal For Your Commercial Insurance

Looking for the best deal on you commercial insurance?  Need a Business Owners Policy (BOP)?  Need Workers’ Compensation?  Need Commercial Auto insurance?  Here are the steps to make sure you get the best deal possible.

  1. Ask your agent if he or she uses an online commercial comparative rater.  Agents need to be able to give you more than one quote and they need to give it to you quickly (not days).  Many agents are not aware of these tools. 
  2. Ask to see a side-by-side comparison of coverages and premiums by insurance carrier.
  3. Ask your agent to clarify advantages & disadvantages of coverages by carrier.

Following these simple steps will ensure you get the best deal possible on your commercial insurance.  Insurance agents to be aware of tools that exists to make thier life easier & efficient.

For more information regarding www.realtimeexpress, contact us at helpdesk@realtimeexpress.com.

July 23, 2009

Top 20 Business Classifications for Business Owners Policy

Take a look at the top 20 quoted business classifications in the last 60 days from our on-line comparative rater realtimeexpress.com.   

1.  Convenience Food Stores
2.  Restaurants – All Restaurants (Dine-in, Carry-out, Fast Food, Pizza, etc.)
3.  Building or Premises – LRO Single Occupancy
4.  Automobile Repair or Service Shops
5.  Cellular Phones and Pagers Stores
6.  Beauty Shop
7.  Building or Premises – LRO Multiple Occupancy
8.  Churches
9.  Building or Premises – LRO Strip Shopping Center
10. Grocery Stores
11. Insurance Agents
12. Building or Premises – LRO Multiple Occupancy Office
13. Liquor, Wine and Beer – Retail
14. Doctors Offices (No Emergency Clinics)
15. Nail Salons
16. Real Estate Office
17. Janitorial Services
18. Dentists
19. Furniture Stores Retail
20. Gift, Novelty, Souvenirs Retail

For more information or to schedule a demonstration of RealTimeExpress email dtaylor@quantumsys.net.

July 13, 2009

Step One To Growing Your Commercial Insurance Business

Filed under: Commercial Insurance — realtimeexpress @ 9:36 pm
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Step one to growing your commercial insurance business is simple.  It least it sounds simple and it is. 

Stop and Listen.

There is a story of a crusty old logger who meets a chainsaw salesman who asks him how many trees he can cut down in a day.  The logger says, “Oh, about 20”.  The salesman tells the logger that he can cut down 100 trees a day using the chainsaw.  The logger sees this would be a good thing and buys one.  One week later he returns the saw and says, “the best I can do is 25 trees a day”.  The chainsaw salesman, looks the saw over, and says, “Well, it looks good”.  He then pulls the starter and the saw kicks over with a roar.  The logger looks startled and says, “Hey, what’s that noise?”

 Just like the logger above, too many times you hear about technology & efficiency but just don’t know how to stop and listen.  Many times, you are so busy that you don’t have time to even think about efficiency. 

You can’t continue to do the same thing and expect a different result.  Start asking yourself the most common questions:

  • Why do I enter the same data over and over again?
  • Why do I have to go to each carriers website to get a quote?
  • Why can’t I have a great looking proposal including a coverage comparison for each carrier?

So the first step to growing your insurance business is to stop and listen.  Research.  Don’t be “so busy” that you can’t stop and strategize.

Learn more about commercial RealTime quoting.   It can grow your business.

 

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