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Holiday Greeting of E&O Tips
by Curtis M. Pearsall, CPCU, CPIA The "Top 10" loss control tips for 2011 - How does your agency fare? With the holiday season upon us, first of all, it is certainly appropriate to say THANK YOU to all of the thousands of agencies that allow Utica the privilege of protecting them. While I am not sure that this article will “arrive” before the holidays, I still thought I would try my hand at tying in loss control tips to the 10 days of Christmas. |
10 |
This
is the number of times a week that you should emphasis the
importance of DOCUMENTATION. 90% of E&O
would either not happen or have a happier ending if there was
solid agency documentation. |
9 |
This used to be the number of claims per 100 policyholders. Because of the solid efforts of agencies across this great country, in 2010 this number is 6 claims per 100 policyholders. This is a tremendous success story and shows that having a strong focus on loss control does make a difference. A major part of Utica’s job is to help you avoid claims. Great Job! |
8 |
The number of times your staff would like to hear you say THANK YOU for a job well done. While this may not be easy to do, get in the habit of saying THANKS and NICE JOB to your staff for their efforts. Insurance agencies, like most business, are only as good as their staff. A staff that is appreciated will be a staff that will be with you for years to come. |
7 |
The number of times you should, over the course of a year, say THANK YOU to your customers, without whom you are not in business. Surveys show this is the average number of times customers are shown appreciation. How do you stack up in this area? |
6 |
At least once every other month ( 6 times a year ) hold a staff meeting and talk with your staff about the issues of the agency, the importance of E&O loss prevention and ways to have the agency be more efficient and professional. No doubt, they will have some great ideas! |
5 |
Commit to sending 5 of your staff ( if you have a staff of 10 ) to an education class in 2011 . Whether it’s a program like CPCU, CIC, one of the CSR programs, or a seminar on telephone skills – your staff will appreciate the commitment you have made to them to provide them with the tools necessary to do the job. |
4 |
The number of times you should send some form of communication to your policyholders. This is an ideal way to let your customers know about the latest available products or how their insurance policies will respond to various types of losses. Not only will your customers be educated ( a value-added service of your agency ), they will probably secure additional coverages when the exposure arises. Identifying your clients’ exposures will greatly reduce the likelihood of an E&O claim being made against you. |
3 |
The minimum number of policies you should write for each of your customers. If you have fewer than this amount, set 3 as a goal. Cross-selling will improve your retention and will also lead to additional sales opportunities. |
2 |
The number of staff that should attend an E&O seminar in 2011 . For a staff of 10 or fewer, this will qualify you for credit with the Utica E&O program. For staffs of up to 3, only one person needs to attend to get the credit. |
1 |
Show a strong commitment to doing the right thing. Lead by example. Your staff will be proud to work with and for you. Set a goal of being the # 1 agency in your community. This might not mean being the biggest, but it does mean being the best! |
Thank you and the best of holidays to you, your staff and your families!