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10/1/2006 - Orlando, FL
WORKERS COMP SYSTEM PROVIDES DIFFERENTIATION TO AGENCIES

Excerpt from October 2006 Rough Notes Article

Coming full circle:

In the 1960’s and ‘70’s, Conant owned a multiline agency. He sold that and in 1979 formed NIAS as a “rent a risk manager.” During the ‘80’s, as he became more familiar with state workers’ comp statutes, Conant uncovered a new opportunity to help companies audit their reserves and that led to the birth of AcuComp®.

At first AcuComp® was bought and used only by industrial and commercial clients. But in the mid-1990’s, an agency that had been referring problematic insureds to the vendor sought to use AcuComp® to differentiate itself in a softening market. “They asked if we would consider selling the service, so they could offer it as a wedge or point of differentiation in an increasingly competitive environment,” Conant recalls. After several months, he decided to give it a try. “We’ve been there ever since,” he says.

While Conant cites just one reason why insureds would want to use AcuComp®, he knows several reasons why agents use it. First, he says, it can permanently eliminate lead generation and prospecting challenges-the very thing the agency that approached him in the 1990’s was seeking. Plus, he says, it helps increase closing ratios. Perhaps of most value is its ability to separate an agency from competitors.

Agent experience bears this out. Mart Stuart, CIC, president of Brennan & Stuart, an independent agency in LaSalle, Illinos, uses AcuComp® as part of what he calls a wheel of value-added services that the agency promotes. AcuComp® is an attractive part of the wheel-something his producers regularly use in presentations to prospects. “We have a number of examples of clients that have saved in excess of $10,000, either getting a check back or getting an endorsement to the policy one a claim was reduced or some other error was corrected,” Stuart says.

If you have any questions or comments regarding this article please contact Jay Conant at J.Conant@niasgroup.com