Making the Case for Excess & Surplus

June 28, 2021

using all avenues

Mike Miller

You turn to your direct appointment carriers for standard personal and commercial lines risks. But if standard risks are the only business you write, you’re leaving a lot of opportunity on the table. By expanding your offerings to include E&S and Specialty business, you can eliminate your competition and make more money.

Here’s why using Express Markets™ to access these E&S carriers and wholesalers could make 2021 your year.

Make the Most of the Leads You Buy

We’ve all tried quoting a policy for a lead we’ve purchased, only find out that they are a hard-to-place risk that your standard carriers won’t touch. In these cases, you can turn to your Express Markets™ carriers for a solution, increasing the number of purchased leads you actually close. A major advantage of working with Express Markets™ carriers is that you’ll make the most of the leads you buy for your agency.

Grow through Cross-Selling

Many standard carriers won’t touch smaller accounts with specialty risks. By offering specialty lines coverage, not only do you become a hero for a homeowner or small business owner in your neighborhood, you also get the chance to cross-sell your other products. Perhaps a manufactured homeowner has a small business or classic car they need to insure. Or, a local restaurant owner needs auto and home coverage and a life policy. Writing business through Express Markets™ can help you get your foot in the door.

Make Friends and Eliminate Competition

Who else won’t touch smaller accounts with specialty risks? That huge agency down the street that won’t write a policy with less than $100,000 in premium. By creating a niche as the go-to agency for small, hard-to-place risks, you can eliminate competition from the agencies in your area that only write large deals. On the other end of the spectrum, by writing specialty lines, you can make friends with the smaller, captive agencies in your community. While the big name captive carriers own 51 percent of the overall market share, they own 0 percent of the excess & surplus market share, as none of them touch non-standard business. With direct appointments with Express Markets™ carriers, you’re a great resource for captive agents and their customers. You may eventually get the chance to cross-sell, too.

Finally, the Perks

Using the Express Markets™ program to access these markets is an incredible deal for your agency. You don’t pay any fees to participate, and Express Markets™ carriers pay 100 percent of the commission directly to your agency. The 30+ carriers in our Express Markets™ program have no production requirements for writing business through the program, and it’s easy and fast to become directly appointed with them.

The Express Markets™ carriers offer your customers coverage for hard-to-place residential and commercial risks, from mobile home and coastal home coverage to commercial fleet and liquor liability policies. Carriers include national names such as BTIS, Burns & Wilcox, CRC Wholesale & Specialty, and Hagerty as well as specialty carriers such as CannGen, Mexico Insurance Online, Sport Underwriters, and Wright Flood. Make 2021 your year with the Express Markets™ program.