The Honeymoon's Over
Jan. 10th, 2003 10:24 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
hiddenmuseI'd talked about Phil, the Company X underwriter I seem to be "in" with, since I've been the only person to really get any answers from him. Well, there seems to be trouble in paradise. Was it the prospect I slaved over, only to have it declined? Was it the fact that I sent photos of the dwellings, instead of nude photos of me? (just kidding ...) Whatever it was, things are wierding out.
First, it was his declining the business I'd slaved over - and worked with him on approving. Then, it was his declining to write a client - only to allow another agency to write the coverage. An e-mail I'd gotten from him was the final straw - and has co-workers asking if Phil and I are fighting.
Insurance and idiot underwriters. Here's a correspondence I had recently with an underwriter that left an entire department shocked and appalled:
Phil -
When quoting higher comprehensive/collision deductibles on an existing account, is there a particular formula to be used? For example, if the deductibles are $250/$500 currently, and the client requests quotes for $500/$500 and $1000/$1000 ... should I use the deductible factors in the manual, and consider it a 10% savings to increase deductibles to $500 and 30% savings to increase deductibles to $1000?
If this is incorrect - or if you have any other suggestions, please let me know. Thank you!
Carly
In response, I get this:
Carly,
Using the manual is a good way of telling the different rate factors. As far as your findings, you're asking the wrong guy -- math was never my subject. If you trust your math, then ok. (My emphasis) Another option would be to try duplicating their current coverage on your comparative rater [Part of a DOS program called MicroMagic, used to obtain insurance rates - ed.], and fiddle with the deductibles there. You might end up with ballpark figures, but at least you'd get an exact percentage for the difference between one deductible and the other.
Phil
Gee, thanks, Phil. That really helps me A LOT. You're an UNDERWRITER. You *should* at least know how to rate the stuff you want the agents to sell, instead of being so blasé about it. Be glad that I'm fairly decent at math, because if I wasn't, we'd all be screwed - and not in a good way, either.
The sad thing is, for once, I was glad that the client passed on the higher deductibles. At least I wouldn't have to hear a tirade against the company and against me for "misquoting".
I love my job. Really I do. It's a hell of a lot better than what I was doing this time last year, when I found myself slowly but surely burning out as a receptionist. I just want to strangle an underwriter for being so two-faced.
First, it was his declining the business I'd slaved over - and worked with him on approving. Then, it was his declining to write a client - only to allow another agency to write the coverage. An e-mail I'd gotten from him was the final straw - and has co-workers asking if Phil and I are fighting.
Insurance and idiot underwriters. Here's a correspondence I had recently with an underwriter that left an entire department shocked and appalled:
Phil -
When quoting higher comprehensive/collision deductibles on an existing account, is there a particular formula to be used? For example, if the deductibles are $250/$500 currently, and the client requests quotes for $500/$500 and $1000/$1000 ... should I use the deductible factors in the manual, and consider it a 10% savings to increase deductibles to $500 and 30% savings to increase deductibles to $1000?
If this is incorrect - or if you have any other suggestions, please let me know. Thank you!
Carly
In response, I get this:
Carly,
Using the manual is a good way of telling the different rate factors. As far as your findings, you're asking the wrong guy -- math was never my subject. If you trust your math, then ok. (My emphasis) Another option would be to try duplicating their current coverage on your comparative rater [Part of a DOS program called MicroMagic, used to obtain insurance rates - ed.], and fiddle with the deductibles there. You might end up with ballpark figures, but at least you'd get an exact percentage for the difference between one deductible and the other.
Phil
Gee, thanks, Phil. That really helps me A LOT. You're an UNDERWRITER. You *should* at least know how to rate the stuff you want the agents to sell, instead of being so blasé about it. Be glad that I'm fairly decent at math, because if I wasn't, we'd all be screwed - and not in a good way, either.
The sad thing is, for once, I was glad that the client passed on the higher deductibles. At least I wouldn't have to hear a tirade against the company and against me for "misquoting".
I love my job. Really I do. It's a hell of a lot better than what I was doing this time last year, when I found myself slowly but surely burning out as a receptionist. I just want to strangle an underwriter for being so two-faced.
