Producers servicing their own book: what it costs
A producer doing endorsements is a producer not quoting.
Producers servicing their own book lose hours they'd otherwise spend prospecting and quoting. Measure it by tracking a week of each producer's time, estimate the new business those hours could bring, and move service to licensed service staff and admin to back-office help. Keep producers on new business and key relationships.
Measure it
- Each producer tracks a week of time.
- Total the hours on service: certificates, changes, billing, renewal processing.
- Ask: how many quotes or appointments could those hours hold?
Example: a producer spends 12 hours a week on service. If a new-business appointment takes about 1.5 hours with prep and follow-up, that's roughly 8 appointments a week not happening.
Illustrative numbers. Use your own.
What to keep, what to hand off
Producer keeps
- New business
- Key client relationships
- Coverage strategy on large accounts
- Renewal presentations for top accounts
Hand off
- Certificates and endorsements
- Billing questions
- Renewal prep and remarketing on smaller accounts
- Carrier submissions and follow-up
Speed matters too
Producers buried in service respond to leads late. Research reported in Harvard Business Review found firms that tried to contact a lead within an hour were nearly seven times as likely to qualify it as firms that waited longer.
Where Humai fits
Humai's U.S.-licensed agents take service and quoting support, and back-office professionals take the admin, all in your AMS under your name. Producers get their week back for selling.
Questions agency owners ask
Should producers service their own accounts?
Some touch with key clients is valuable. Routine service like certificates, endorsements and billing is usually better handled by service staff.
How do I measure what service work costs a producer?
Track their time for a week, total the service hours, and compare with how many quotes or appointments those hours could hold.
What if clients insist on their producer?
Keep the producer on the relationship and strategic conversations, and introduce a named service contact for day-to-day requests.
Who should take over service from producers?
Licensed service staff for coverage work, back-office help for admin. Some agencies use flexible licensed help to avoid a new hire.
Will producers resist handing off service?
Sometimes, out of worry about quality. Start with a few task types and let them review the work at first.
Sources
Licensing rules differ by state. This article is general information, not legal advice. Check with your state's department of insurance.