Two Popular Workers Comp Agent Questions
A Workers Comp Agent recently asked me these two questions yesterday. The questions were a great reminder to write an article on this very subject.
Almost every Workers Comp agent asks us the same two questions each time they wish to possibly use our services or refer us to one of their clients.
- Do your services replicate what I do as an agent?
- Will your services make me look bad in front of my client(s)?
The answers are No to the first question and an emphatic NO to the second.
Our largest section of business used to come from agent referrals. We hear from agents quite often with questions on E-Mods, Premium Audits, and Reserve levels.
At one time, 70% of our business was due to agent referrals. While we do have almost similar goals as a Workers Comp insurance agent, we are able to “drill down” further into a company’s policies. We spend a large amount of time with each client’s data. We are not under the time pressures that agents are under when writing a policy for an employer.
We have never tried to discredit an agent or to question what an agent has done for an employer. In fact, one of my first bullet points in all my presentations is “Do Not Blame Your Agent.” An agent has to work within the structure that has been built by the Workers Compensation Underwriter, insurance commission, NCCI/State Rating Bureau, general marketplace, etc.
Agents drive the market for all of Workers Comp. If there were no agents, there would be no marketplace, and all states would operate under a monopolistic form of insurance, which has been shown to not be the best for employers.
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