|
|
Targeting Growth in Commercial Markets
Agents have expressed frustration that the Fireman's Fund target industries have not focused on small to medium-sized accounts, which represent the majority of prospects in the market. Since our goal is to be the leading provider of coverage solutions to customers of all sizes within our targeted industries, we have restructured our internal resources to close that gap. Our goal is to support agents by offering seamless delivery of products for customers of all sizes within our targeted industries.
Small Business Center
We're leveraging the capabilities of our Small Business underwriters in Sacramento and giving them the tools to quote some package business in our targeted industries. Now, when you request a quote from your local Fireman's Fund office, your territory underwriter (TU) will determine whether to quote the account or send it to his or her Small Business partner. Our new underwriting process will not change how you request a quote. However, it will ensure you get a timely response.
The small business underwriter will review the customer's needs to determine whether the account is eligible to be written as a Business Owners Policy (BOP) or as a small package policy.
Your underwriting relationship will continue to be with your local, territory underwriter — for all accounts regardless of size.
Small Package Definition
While there are specific industry criteria, our definition of small business includes:
-
Property values and/or sales less than $15 million per location or $50 million for the total account
-
Fewer than 24 vehicles or no more than four heavy or extra heavy units
-
Up to 50 employees per location for workers' compensation
New Policy Prefix
If we write an account as a Small Package policy, we will assign the prefix "F" to the policy number.
Marketing Opportunity
 | |
|
Target Industries
Real Estate
Hotels
Restaurants
Printers
Additional Industries Targeted for Small Business Growth
Retail
Wholesale
Business Services
|
|
|
|
Small clients are historically underserved by insurance companies. With our expanded operation you have the opportunity to offer your small clients in our target industries coverages that are not typically available from the competition.
We are committed to having you place a broader spectrum of small- and medium-sized clients with us. We are also committed to building the segment by providing a differentiated level of products and service, previously unavailable to this type of account. For instance, in the past, crisis management coverage was only available to large organizations, but our new coverage is available for targeted businesses of all sizes. All customers can take advantage of industry-specific endorsements and sign up for the iCustomer Series® portal for their industry.
If you have business that fits our profile, we encourage you to ask for a quote at renewal. In the meantime, talk to your local Fireman's Fund representative to learn more about our underwriting criteria for specific industries.
|
|
|
