I am wondering under the Insurance Code if it is acceptable/legal to offer incentives for new business/clientele? I am focusing on Commercial P&C lines with niche industries (Marine/Aviation/Construction).
Is offering some sort of gift/tickets acceptable when trying to obtain new clients?
Incentives for Clients
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Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
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Re: Incentives for Clients
It varies by state. Usually the limit is a nominal amount $20-$50 which allows for things like coffee mugs, pens, calendars and such. Check with your insurance department.
Re: Incentives for Clients
Why don't you try offering something of real value like risk management, loss control consultation, perhaps a plan that will pay dividends and a whole host of "Value Added" ideas that will set you apart from the other guys that simply offer a quote...
If you live by price alone you may as well quit now and save yourself future headaches. Sell your ability to properly service the clients' needs! If he just needed insurance he can get that from a 1-800-dot com! THEY NEED US as a professional on their team! Just my two cents. Sell yourself, don't give anything away!
Wayne Lunday, LUTCF, CLU, ChFC
If you live by price alone you may as well quit now and save yourself future headaches. Sell your ability to properly service the clients' needs! If he just needed insurance he can get that from a 1-800-dot com! THEY NEED US as a professional on their team! Just my two cents. Sell yourself, don't give anything away!
Wayne Lunday, LUTCF, CLU, ChFC