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I just received a fax requesting a COI for a client. Ever since the fax machine came onto the scene, mailing a COI became extinct. E-mail has even made it more efficient.

The COI request I just received wants a fax, a mailed original and my insurance license number. Perhaps they want me to also make lunch for them???

So much for the paperless office. Maybe the person requesting the COI is married to someone at the post-office and wants me to participate in the increasing cost of postage.

etimer wrote: The COI request I just received wants a fax, a mailed original and my insurance license number. Perhaps they want me to also make lunch for them???

So much for the paperless office. Maybe the person requesting the COI is married to someone at the post-office and wants me to participate in the increasing cost of postage.

They might have been burned by fraud before. I can't think of any other reason why they'd want you to mail it. That would also explain why they want your license #. If you commit fraud by mail, I know there are much harsher penalties. If you're not a fraud, you shouldn't have a problem!

It is just that we keep adding software, hardware, etc. to be more efficient and then you find yahoos that want to use the snail mail. Plus one office I know sends probably 20>40 COI's a day. If everyone wants to go back to that little mail thing, it increases their cost to do a COI by:

Added human time: 2 minutes @ $45 an hour = $1.50
Added material - 41 cent stamp / laser envelope - 4 cents
So the yahoos just added $2 to send a COI.
If all the yahoos go back to wanting a mailed copy that little mail thing could add $10,000 a year from working capital.

It was once said by a wise person, "it's not the dollars that will bankrupt you...it's the pennies."

independent guy wrote:

etimer wrote: The COI request I just received wants a fax, a mailed original and my insurance license number. Perhaps they want me to also make lunch for them???

So much for the paperless office. Maybe the person requesting the COI is married to someone at the post-office and wants me to participate in the increasing cost of postage.

They might have been burned by fraud before. I can't think of any other reason why they'd want you to mail it. That would also explain why they want your license #. If you commit fraud by mail, I know there are much harsher penalties. If you're not a fraud, you shouldn't have a problem!

Maybe you could add an agency billing for $5 to off-set your costs. If they pay it, they stay on your good list, if not they only get e-certs!

Just an Idea.

Swymmer

One more reason to be a consultant and not an agent - you order certificates instead of generating them. <wink>

I feel your pain. Unfortunately the very same technology that makes our jobs easier also makes it easier for those that don't wish to play fair. I do find though that it's generally larger entities (and mainly for additional insured certs) that want the copy mailed - most want our fax info - won't take the e-mail. I'm also beginning to get calls verifiying certs (even though it was faxed from our office). About one out of 50 or so isn't legit.

you know what's eventually going to happen....the COI will be replaced by a True and Certified copy of the policy...I am starting to see that request now. ;-(

LadyBroker wrote:you know what's eventually going to happen....the COI will be replaced by a True and Certified copy of the policy...I am starting to see that request now. ;-(

I guess that will take care of the times that AI's need to be added and then we can tell them, yes you will get notification once we get it from the insurance department.

Of course language in the policy such as this help in some cases: additional Insureds are automatically included if the requirement or this status is a written agreement. This section may satisfy additional insured requirements for landlords, managers, governmental permits, and equipment lessors.

Scott you just reminded me of something I've been thinking about and forgotten. As far as sales for a new producer goes, it's been well covered here that you've got to pound the phones cold calling.

that's for direct marketing to prospects though...what's the best way to get consultants to submit business to an agency? You see, unfortunately for me as a salesman, I'm less of a driven/bullshitter personality type and more of an analytical who thrives on details and helping clients wade though them(construction specialist, so I'm primarily talking about insurance specs for jobs, though not just that), and I presume that businesses who utilize consultants actually care about details, care about whether they are actually covered and aren't just buying certificates to get on the job, or even if they don't want to hear the details themselves, they are subcontracting the "caring about details" out to the consultant
I'm aware that consultants can be an equally strong driving force for a lower price as the client is...

So - what's the best way to approach consultants? Just grab the phone and introduce yourself? Do they generally care if you're somewhat far away from their location?

I never told you to pound the phones - cold calling is the worst way to get new clients. - I have said many times that I think cold calling hurts sales efforts. Read my past posts for my comments and other's replies.

As a consultant, I work with agents who offer my clients value - ease of doing business, access to markets, intelligent risk analysis, information, etc. Show me that you are valuable to me.

As a mentor, I work with agents on differentiation and the establishment of unique value. How do you make yourself a person of interest to your prospects? What process will keep clients coming to you? What system will build referrals?

My answers to the above always revolve around providing value.

The trick is how you do it.

[quote="LadyBroker"]you know what's eventually going to happen....the COI will be replaced by a True and Certified copy of the policy...I am starting to see that request now. ;-([/quote]

Your correct. I have had two large home builders request certified copies of GL policies for their subs recently.

From the perspective of an insurance tracking consulting firm, the insurance requirements are governed by the contract, signed by the insured. If the contract insurance requirements specifically call for copies of the insurance policies (certified as true and complete), "endeavor to" wording crossed out, etc., then it is our responsibility to follow up with the insured or their broker to obtain such documentation.

I recommend that brokers work with thier insureds to review the certificate holder's insurance requirements prior to signing the contract or starting their work. This will help avoid frustrating situations for insureds when certificate holders withhold payment for noncompliant insurance.

Keep in mind that certificate holders often elect to cancel contracts and remove insureds from projects when they fail to comply with the insurance requirements, as it exposes them to greater risk and potential coverage exclusions if certain requirements are not met.

-Rick Lopez, CEO, CTO, President & Founder