Standard Lines Services will be introducing MetLife Personal Lines Home and Auto in January 2011 to Oklahoma Agents. SLS has partnered with MetLife to bring agents more product availability for both monoline home and auto. We are excited to include MetLife into our portfolio of products to offer agents. Upon introducing MetLife in January, they will be automatically added to the EZLynx Platform (comparative rating program) for those agents who have chosen to have access to EZLynx.
More information on MetLife will come soon!!!
Effective December 20, 2010, Hanover has increased their late fee to $25 and their installment fee to $6. These increases were necessary given the increasing cost of the billing process. Counsel your customers to shift their payments to EFT - where there are no transaction fees or late fee worries. Movement to this payment method will help them minimize their fees and help you improve your customer retention.
You may fax the Hanover EFT form to 918-336-2178 to set your insured up on the EFT Payment Plan.
Customer Retention In a Hard MarketCall your customers 30-60 days before a rate increase and discuss options
In the current economy customers are extra-price sensitive. With this approach, you can significantly improve customer satisfaction by as much as 83 points, even if the rate increase is over $100.
PHONE IS THE BEST METHOD OF PREMIUM INCREASE NOTIFICATION. It generates three times as many discussions as email and four times as many discussions as mail. These discussions help you build a trusted relationship, which increases your customer's loyalty to you.
Over 80% of customers would prefer 1-2 months notice prior to receiving a premium increase. Customers who are offered a policy review every year are more satisfied than customers who do not get one by as much as 114 points. Only 1/3 of customers are offered this review.
Discuss the overall value of coverage.
Point out every discount they get.
- Customers who are aware of the discounts they receive are more satisfied than those who are unaware by roughly 124 points.
- Policy offerings satisfaction increase substantially with each additional discount customers receive. Take the opportunity to discuss the need for additional coverage e.g. an umbrella policy.
- Customers are more satisfied when agents point out discounts, without them having to ask.
New Auto Discounts/Features Available with Travelers in Oklahoma
Effecti November 21st, Travelers introduced three new discounts to make their auto program even more competitive:
- Accident Forgiveness
-
Paid In Full Discount
-
New Car Discount
Your insured can take advantage of the paid in full discount by paying their insurance premium in full for 6 months or 12 months using their Visa/MasterCard. The Paid in Full Discount will be listed on the auto quote directly under the quoted premium. Simply complete the Credit/Debit Card Authorization form to take advantage of this discount.
Hanover Homeowner Chanes in Arkansas
Effective February 1st, 2011, Hanover will require a minimum $1,000 All Peril deductible on all HO-3 policies at new business. This revision is a responsible action in light of increasing costs and the need to have their customers invested in protecting their property from damage. Currently over 70% of Hanover's new business in Arkansas is being written with this deductible, or greater, so there should be a minimal impact. There will be no impact on in-force customers, though we encourage customers to increase their deductible as a method of controlling premium costs.
It All Begins With a Dream....
Small Business Owners said they wanted it. The Hartford XactPAY XpressSM Is Here!
Cash flow is one of the biggest issues facing small business owners today. Workers' compensation is one of the largest expenditures they have. The Hartford has a pay-as-you-go payroll billing solution for virtually every workers' compensation policy you write with The Hartford. All small business owners, not just businesses with seasonal payroll fluctuations, can benefit from a pay-as-you-go workers' compensation premium billing solution.
Benefits to your customers with XactPay Xpress:
- Better cash flow management
- No large down payment
- No installment billing fess
- Potential to minimize premium audit adjustments
Don't miss out! XactPAY Xpress is now available. Visit XactPay.com to see how you can help your customers with their cash flow.
For more information on this service, contact SLS Commercial Lines Underwriter,
dustin.hammond@sls-ins.com or kelly.clark@sls-ins.com
Travelers Apartment Business
Travelers Apartment Businessowners Policy offers an affordable way for you to obtain Property and Liability Insurance. This policy includes key coverages that are important to any business, and also offers additional business-specific options that are important for any apartment owner.
PROPERTY HIGHLIGHTS:
- Appurtenant Buildings and Structures
- Building Glass
- Business Income and Extra Expense
- Apartment Pac
- Apartment Pac Plus
- Business Personal Property Off Premises
- Employee Dishonesty
- Equipment Breakdown
- Newly Acquired or Constructed Building
- Ordinance or Law Coverage
- Outdoor Trees, Shrubs, and Plants
- Signs
GENERAL LIABILITY HIGHLIGHTS
- General Liability Limits of $1 million per occurrence / $2 million aggregate are standard with an option for higher limits
- Advertising Injury and Personal Injury
- Medical Payments for $5,000 per person
- Damage to Premises Rented to you is included up to $300,000. Limit may be increased
- Blanket Contractual for all insured contracts
- Host liquor liability
- Limited worldwide coverage
- Products/Completed Operations coverage is included
For more highlights, popular options for Apartments, and Coverage Features
click here!!
Send SLS Your Apartment Quotes!!!
Contact Your SLS Underwriter,
dustin.hammond@sls-ins.com or kelly.clark@sls-ins.com
THE STAFF OF SLS WISH YOU AND YOUR FAMILIES A MERRY CHRISTMAS AND HAPPY NEW YEAR!
