Welcome to Stuckey & Co.
Welcome to Stuckey - Can We Help?
service-herobanner.jpg

BLOG

Stuckey & Company Blog
ASK US A QUESTION

Tools to Grow Personal Lines Insurance Business

By: Elizabeth Sedlock | Posten on: Apr 13, 2012 4:05:00 PM

Did you know that specialty personal insurance lines of business tend to be the most profitable of all personal lines policies? Did you know that you can increase your retention by 9% when you cross sell additional personal insurance policies? The more lines of business an insured places with you, the better chance you have to retain that customer for years to come. Yearly reviews of your insured’s needs are crucial to retention.  Each year, the insured may purchase something they did not even think of placing insurance on through you: a motorcycle, a boat, a piece of fine art or a valuable piece of jewelry that may not be insured properly. Cross selling can help you close coverage gaps for customers and make sure they are adequately protected; not to mention customers can see significant savings and discounts when they combine multiple policies.

One of our carries, Safeco, calls this process “relationship marketing” and provides tools on their website to help you.  You can order generic note cards that say “Happy Birthday”, “Thank You”, “Happy New Year”, etc.  Here is a brief glimpse of the HOW IT WORKS section:

How it works

  • Safeco provides you with an automated cross-sell campaign to target and cross-sell your monoline auto and home policyholders.
  • You can choose to mail your entire book of business, self-select which policyholders you want to target or mail to the same policyholders you did in the prior campaign.
  • Then select the letter or postcard you want to mail and Safeco will complete the mailing on your behalf.
  • We also provide you with call scripts and follow-up letters to help with your conversion process.
  • Safeco now provides you with an automated umbrella cross-sell campaign.
  • Safeco now offers an automated Motorcycle, Watercraft or RV cross-sell campaign.
  • To initiate your cross-sell campaign, simply click on the link below

Safeco also offers an Insurance Checkup form for you to use.  Contact Shelli at shelli@stuckey.com to learn about ways the other carriers can help you properly cover all your insureds!

Topics: Stuckey & Company, personal lines insurance, high net worth, high net worth insurance, high value homes insurance

High Net Worth Insurance - Consider the Worst Case

By: Elizabeth Sedlock | Posten on: Jan 13, 2012 3:20:00 PM

Are all home owner insurance policies the same?  Although most large insurance companies would like you to think so, all policies are NOT the same.  This is a particularly important issue for high net worth individuals with high value homes. 

Why?  Because the average home owner policy does not adequately protect against the worst case scenarios that surpass the standard liability limit, which is $500,000 in many cases.  When unfortunate accidents happen to someone with a high net worth, like pool accidents, personal injury or property damage, general policies might not cover all the costs associated.

Example of a High Value Home

That is where Group Excess Coverage can really help your high net worth clients.  This is a great opportunity for you to get a group of professionals (doctors, lawyers, etc.) together under one umbrella policy, eliminate gaps in coverage, and save them money.  The liability limits on these umbrella policies can be as high as $50 million. 

Like it or not, high net worth individuals are much more likely to be the victims of lawsuits, frivolous or not.  These group excess coverage plans, like Chartis’ or Chubb’s Group Personal Excess Liability Insurance policies, save your clients money and protect them against the worst case scenarios. 

Learn more about these types of policies at Stuckey & Company’s personal insurance site.

Topics: Stuckey & Company, stuckey and company, HIgh Value Homes, personal lines insurance, Stuckey, Stuckey & Co., stuckey and company, Stuckey and Co., high net worth, high net worth insurance, high value home insurance, high value homes insurance, estate planning, non standard home insurance

LEAVE A COMMENT

Latest Posts

Stuckey & Co