As it passes the ladle from one hand to the other, the agency adds no value to the transaction. When you think about it, the average agency gets paid for passing through a transaction without having to add any value to the transaction. There are a myriad of services that agencies can and should be offering their better clients. This includes risk management, loss control, claims, and other services, plus a list of all coverages provided and explanations of any coverages or policies not currently written with the agency. Any kind of educational program offered to your clients.
Topics can range from creating a drug-free workplace to employment practices liability.
Don't wait for a competitor to come in and do this for one of your best clients. An employee other than the producer or account manager performs this task. An annual appraisal of the client's insurance to value status. This is just a sampling of the value-added services you should be providing your best clients, over and above passing through the risk transfer transaction. This may seem like a lot of extra work for your agency.