Agents and Underwriters: Creating a More Profitable Relationship
The Agent Visit
Act 1, Scene 1
Agency Rep Enters Gold Star Title Agency
Agency Rep: Hi! I am Larry, I represent Global Title, we are an underwriter! Could I have a few minutes of your time?
Agency Owner Mary:Hi Larry, you do realize this is the last day of the month. I am in between closings and don't have time to see you. Could you schedule a time to meet?
Agency Rep: Certainly! Here are some pens and a stress ball! Have a nice day!
The Policy Call
Act 1, Scene 1
Agency Rep Calls Agent
Agency Rep: Hey Steve, it's Susan. I need to talk to you about your policy backlog. We have not seen much volume as far as policies go, but you have pulled a lot of CPLs.
Agency Owner: Well Steve, I realize we are a bit behind, but I have been focusing on closings and getting orders out the door, so something had to give. We can catch back up in December.
Agency Rep: Susan, you have over 2,000 outstanding CPLs and have issued 30 policies in the last two months. This is a bit concerning.
Agency Owner: I see your point, but there is nothing I can do, we are understaffed.
Do these conversations sound familiar? Hopefully they are hyperbole for what can be difficult situations. However, the dynamic between an agent and an underwriter can be difficult. Both have the same goal, getting the transaction closed and issuing the policy to the consumer. However, there are a lot of things that must take place before that happens. With all those moving parts, how do you maintain a symbiotic relationship?
David Townsend, president and CEO of Agents National Title Insurance Company, and Nicole Plath, CEO and owner of Fortune Title Agency Inc., will speak more in depth about this topic during the session titled “Agents and Underwriters: Creating a More Profitable Relationship” at ALTA ONE. The speakers will help attendees maneuver the landscape of the underwriter and agent relationship and identify ways that it can make your business more efficient and profitable. Click here to register.