Carrier Compliance
Name 3 Best Practices for timely customer eSIGN?
Get the customer to do it while you are on the phone with them
If unable within 24 hours
Follow up with customer 48-72 hours to confirm eSign was completed
What is the difference between an LTR and HO3? And what impact will writing the wrong policy have on a claim?
HO3 – owner occupied LTR – Vacant or Rented to others
The impact could be denial of any claims, insufficient limits for property
What is the impact of not listing all HH occupants and operators?
Potential E&O issue in the event of a loss.
Some carriers require ALL HH occupants be listed regardless of age or other insurance, this could impact a claim being denied, can result in surcharges & rate increases, and create a negative customer experience
Define “issuance date”?
Issuance Date – the date we get notified by the carrier that a policy was written, regardless of effective date
Testing
Testing
What is the AGENT responsibility for handling CHOICE customer service requests?
It is the AGENTS responsibility to forward ALL CUSTOMER request to the CARRIER SERVICE EMAIL or provide the customer the DIRECT CUSTOMER SERVICE # for the carrier located in the KNOWLEDGE CENTER.
What is the #1 E&O type of claim we submit payment for?
Agent does not include TOWING or Rental Reimbursement on NEW policy and client can provide prior proof of coverage.
HOME: Year built – what should be entered in a quote and what does it effect?
The original year built should always be used even if there have been substantial updates or renovations.
How long after the issuance date must a policy stay in force?
303 days
When communicating with a Carrier on the phone, in an email, in a training, or in person what information CAN’T you share about LM or our Carrier partners?
NO CARRIER or LIBERTY MUTUAL Information including:
Who our carrier partners are and the products they offer
Which carrier is the most competitive for a product line? Competition?
Coverages, Limitations, Eligibility available for LM or other Carriers
Contests. With carrier or other carriers, see your manager or wholesaler for questions
Travelers NAKED policies – what does this mean and what steps should you take to provide the needed coverage?
Naked Policy – Bound without REPLACEMENT COST on their HOME – Coverage
This happens when you do NOT pick a Endorsement Coverage Package and choose to add coverages a la carte
PAY attention to the WARNINGS in the Travelers system – it will alert you if you do NOT add REPLACEMENT COST
What best practices will ensure that prospects are eligible for discounts and receive them?
Check discounts available in the carrier site and know what the eligibility and documentation needed
What is a FLAT CANCEL?
FLAT CANCELS – on the books for 30 days or less.
Social Media: What aren’t you allowed to post and why?
ANY CARRIER NAME or LOGO – We are LM employees which does not allow us to publicly represent other carriers
Foremost: What coverages must be added manually to each LTR and Vacant property quote?
Foremost LTR and Vacant policies are A LA CARTE policies and DO NOT include COV B - OTHER STRUCTURES, COV E – LIABILITY, and other important coverages.
What quote data impacts the rate and must be entered correctly to provide an accurate rate? (HOME AND AUTO)
HOME: Year Built, # of occupants, age of occupants, 5-year history of prior residence & insurance, smoking, sq”, replacement cost, loss history
AUTO: Age and # of drivers, prior insurance, limits and losses, education & occupation (state), time of vehicle ownership
To qualify for NB on a CHOICE PLP from a LM PLP what notation must be in CSW?
State MANAGEMENT must put in a LM REJECTION note
What documents should we send to the choicemissingforms@libertymutual.com?
Any documents that CARRIERS request that our agency maintain but do not require us to send them.
What is proper procedure when a carrier claims adjuster or CHOICE customers calls you about a claim?
In either case this anything you say is a potential E&O CLAIM – capture the name of the adjuster/customer, state, carrier, and policy number and submit a CHOICE COMPLAINT SUBMISSION ticket which is in the CHOICE SERVICE DESK in CHROME
Tell me 4 best practices about setting up billing and payments on a new policy?
Enter banking information directly into billing system, repeat back customer Bank Routing and Account # for accuracy – do NOT write down BANKING INFO – compliance issue
Set customer expectation regarding draft date money will be taken and future installment dates
HOME: Verify the EXACT mortgagee clause with the customer from prior insurance policy, mortgage state or online account
Whenever possible take a CREDIT CARD for the initial down payment on ALL policies
How does CHOICE reporting determine the cancellation date?
By the downloaded date from the carrier which may be DIFFERENT than the ACTUAL CANCELLATION DATE.