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September 30, 2024 in Editors' Featured
Retail Agents Embrace Surplus Lines, Leading to Stronger Client Relationships
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Retail agents are increasingly comfortable with surplus lines markets, overcoming misconceptions and effectively communicating coverage benefits to clients, boosting market strength -- check out this interview from WSIA of Bill Gatewood, Burns and Wilcox as he talks with Insurance Journal's Vice President of Content, Andrea Wells.
Main points of discussion:
- Dispelling Myths Around Surplus Lines: Retail agents once viewed surplus lines as offering poor coverage, but this perception has improved significantly, leading to higher confidence in selling these products.
- Importance of Education: Wholesalers add value by educating retail agents on coverage differences and exclusions, ensuring clear communication with clients to avoid claims-related surprises.
- Strengthening Client Relationships: As retail agents better understand surplus lines, they can confidently guide their clients, enhancing trust and contributing to the market's overall growth.
#SurplusLines #InsuranceEducation
