What You Need to Know Before the Appointment: Call the Underwriter

By Erik W. Leeming | Know The Underwriting

You have an appointment with a commercial prospect. You’ve reviewed the website, looked at the current coverage, and prepared your questions.

Before you go, call an underwriter.

I know the temptation may be to send an email. For a quick question like “Hey, I’ve got an appointment with XZY Manufacturing which fits your appetite guide - are you familiar with it?”, that may be all you need. And if the underwriter has seen this account before, there could be a story (good or bad) behind what happened. Don’t send a long list of questions and expect them to write that story for you.

Pick up the phone.

Start with what you know about the business. Ask whether it is an account they would consider. Then let the conversation go where their experience with the risk takes it.

Has this been a real opportunity before?

1. Have you seen this account submitted in the past?

2. What prevented you from securing it?

3. Did the insured seem willing to change, or did they appear to be shopping for a comparison?

4. Was there a particularly strong relationship with the incumbent agent, perhaps even a family or business connection?

5. Was the incumbent carrier offering terms or pricing that other markets could not reasonably match?

An underwriter may not know every answer. But if the account has come through repeatedly without moving, you should understand why before you invest in another round of quoting.

Has the risk changed?

1. Were losses or risk control concerns a reason you passed on the account?

2. What would you need to see to believe those issues have been addressed?

3. Has ownership or management changed since you last considered it?

4. Have the operations, locations, or people responsible for safety changed?

A prior decline does not necessarily tell you what the underwriter would do today. The important question is whether something material has changed, and whether the prospect can show you evidence of it.

What should I find out during the visit?

1. Is this a risk your market would consider now?

2. What exposure should I investigate while I am on site?

3. Is there a supplemental application I should bring to the appointment?

4. What information would help you decide whether to pursue the account?

Based on what we discover, should I be talking with a different market? Should we be walking away?

This is a conversation, not an interrogation. You may only need two or three questions to uncover the issue that matters. A seasoned underwriter might remember that the prospect’s losses improved, but the operation raised concerns on a risk control visit. Or that their market wanted the account, but the insured never gave anyone a serious chance to compete.

An email asking “Do you have an appetite for this?” might get you a yes or no. A call can tell you why, what the underwriter would need to see, and what you should look for when you visit.

The call gives you a better sense of both the risk and the opportunity. You arrive knowing what to ask, what to observe, and whether this underwriter has a genuine interest in seeing the account.

A good submission starts well before you send one.