Read ahead to see how ASNOA and Bold Penguin’s partnership helps agents grow their small commercial book. Historically, small commercial has been a time-consuming and challenging process to quote. Lots of repetitive paperwork, calls, and submissions had to be undertaken for just one quote – and that assumes that you’d be able to find coverage for your customer. Getting a quote for a small commercial customer could take so much effort, that by the time you bound their policy, you’d lost money. Plus, no one has ever said, “I love filling out ACORD forms!” so there has been frustration built into the process.
Personal lines were first to market with digital tools such as comparative raters, streamlining processes and making quoting policies faster and more profitable. But some of that saved time might have gone to serving the challenging process of small commercial.
But now, small commercial has caught up, and digital tools are available to help agents quote and bind faster, with more carriers, and with less setup. But finding the right tool(s) for your agency may seem daunting. Don’t worry, that’s where ASNOA and Bold Penguin can help. With a few basic questions for you to ask yourself, you can find the right tools to help you enable your processes, write more business, and ultimately grow.
What challenges do you want to overcome?
This is the first but possibly the hardest question. No one wants to admit there are challenges or opportunities in their workflows. But a little bit of focus can find ways for you to make small changes with big impact.
● Is small commercial taking too much time per quote?
● Are you repeating steps over and over?
● Do you customers get frustrated with the time it takes to get answers?
If any of these are your largest source of opportunity, a tool like the Bold Penguin Terminal might be right for you. By allowing you to see multiple quotes in real time, for all NAICS codes, you can take your small commercial quoting time to about 10 minutes using a single application. Now, think about
what you can do with all that time saved!
What resources do you have to set yourself up for success?
Take a moment to reflect on what you already have at your fingertips. For example, you have access to education and resources through your membership in ASNOA. Now, what about in your office?
● Do you have someone who focuses on Marketing or digital properties like social media?
● Are you tech savvy or have IT resources?
It’s ok if you don’t have these resources – Bold Penguin’s agent-supporting tools require no IT
involvement – setup is turnkey!
How quickly do you want to get started?
You’re busy running your agency and supporting your customers, so it can be tricky to carve out time to focus on setting up and learning new tools. Remember that ASNOA has learning modules you can access to help. Keep in mind how much time you really have to devote to setting yourself up for success with any new tool you purchase. For example, the Bold Penguin Terminal is incredibly intuitive and easy to use – some agencies have producers using it in just a day, making it an easy time-management decision.
Will you want to add on additional tools later?
Success comes when everyone and everything is working together. Think about this as you consider adding tools. Look for options that will integrate with each other, and with what you already have. For example, the Bold Penguin Exchange links directly into the Terminal, allowing you to grow your book with warm prospects with the click of a button (and simple setup, again).
Small commercial can be a great way for you to grow your business, and it’s easier than ever to get started, especially if you ask yourself these questions first and use the resources available through ASNOA. Bold Penguin can walk through your needs with you, and make suggestions on which products can help you meet your goals.