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CompWest
Posted: Thu Aug 03, 2006 7:11 am
by Santa Rosa Ins Broker
Anybody have any success against these guys? One of my competitors comes in at 15% below my best numbers, everytime I go up against them. I have most of, or access to just about everyone but Preferred and Compwest. Your thoughts?
Compwest
Posted: Thu Aug 03, 2006 9:19 am
by volstrike3
They are the cheapest around and they are unrated. If the prospect doesn't care about that then there is nothing you can do.
I have had some success explaining that they are a new, unrated company that is pricing well below an already soft market. Your clients and prospects are business people, most will understand their business model is not a recipe for long term solvency.
Posted: Sat Aug 05, 2006 7:01 pm
by indurain
I agree with volstrike3. If your client is smaller and doesn't care about issues with their Umbrella, there isn't much you can do. However, I would remind them that what they are seeing is a company buying marketshare. If your clients were around in the late 90s, they should understand that those times might be just around the corner and it's no fun scurrying around for coverage at the last minute. OR having a claim be handled by CIGA.