Welcome to 202WON! The new year brings a new mobile app, a new suite of tools, CRM enhancements & the start of our integrations roll-out. Check out all the details here.
Published 01-10-2021 to New Features
What WC code does a Chicken Feeder installation contractor fall under? It's not rhetorical, it's 3724, usually known as Overhead Door installation. Maybe you are wondering what GL code to use for that Quonset Hut erector you're working on (you know we've got that). That's why we put together a comprehensive industry cross reference and look up including WC, GL, SIC and NAICS codes.
Published 12-08-2020 to Agent Resources
Yup, finally made it to the golden state. We released it a bit early because of the expressed interest, so please bear with us while we back-fill some demographics like # of EE's and Sales, and contact data. Also note this is not a comprehensive database, like our other states, due to regulation. But with over 85,000 Xdated prospects, there's plenty to keep you busy!
Published 04-22-2020 to Insurance Xdate FYI
Thanks to current technology (last 15 years), practically all operations conducted in a typical insurance office can be done remotely, and for a very reasonable price point. And despite the industries best effort to keep work at work, nature has forced us to adopt the alternative, homework. Are you struggling, fighting with it? Or are you exploring the plethora of available productivity tech, learning about it, and thriving along the way? As a fully remote company, here are a few tools we rely on to manage projects, communicate effectively, and prioritize tasks (no face mask required).
Published 04-14-2020 to Case Studies & Usage Examples
COVID-19 may have wreaked havoc on main street retail, and even halted the movie studios, but the insurance show goes on. With over 30 states closing 'non-essential' businesses we thought you could use some good news. So there's not much to this post other than a link to download a list of 100 'essential' classes of business. And yes, it's an excel file.
Published 03-30-2020 to Agent Resources
A little embellishment goes a long way. To much, and your credibility comes into question. What's to much? Check out this example.
Published 03-01-2020 to Case Studies & Usage Examples
OSHA & DOT data now available. We also cleaned up Company Relationship matching (additional locations, multi-state, etc) and overhauled the Class & Carrier Reports. Check it out!
Published 01-27-2020 to New Features
Is the incumbent increasing or decreasing rate? Becoming more or less aggressive? What industries are they focused on? Who are they winning business from or losing business to? Just a couple questions easily answered in this comprehensive, interactive report.
Published 01-27-2020 to Agent Resources
Who is winning, who is losing. Where are rates going for this class of business? How does the Prospect compare? All kinds of answers (and talking points) can be found here.
Published 01-27-2020 to Agent Resources
Not so new, but greatly improved. The new 'Related' tab has been cleaned up to eliminate false-positives due to PEOs, provides better visibility in regards to things like job site operations for contractors and multiple location operation for 4-walled exposures, and is now bridged with the Company Name search. Check out this example!
Published 01-27-2020 to Agent Resources
It's not just for truckers! Plenty of businesses have to file with the DOT, and if they do you'll find it right here. Check out this example.
Published 01-27-2020 to Agent Resources
OSHA inspection & Violation details are loaded up and ready for your exploitation. In this post we'll cover what's available, how to use it is up to you.
Published 01-26-2020 to Agent Resources
List Assignment for the business developers, Premium Increase filter and date stamped contact info for the Producers. Just a few new features available for 2020.
Published 01-26-2020 to New Features
Just like Acord apps, thumbing (mousing) through loss runs sucks (just getting them sucks, especially from Erie). Page 1 is the expiring Pkg/Auto with Penn National, page 2 is three years of Zenith WC, page 3-5 is two years of Auto valued from last year, and so on. Unless all lines were with the same carrier, it is next to impossible to organize loss runs in an easily digestible manner. This post covers what to do about it and why you should do it.
Published 08-18-2019 to Agent Resources
I get this question a lot while giving demos. At first I thought you guys were testing me..and some of you were. Sadly, the vast majority really don't know. It makes me wonder what is being taught at so-called Producer schools..how to fill out an app? How to do online ratings? Make sure the carrier's job is nice and easy? If you are in a competitive rate state (and most of you are) check out this quick post on what an LCM is and why it's important to the sales process, cold calling in particular.
Published 04-25-2019 to Cold Calling
The facile answer to your facile question is YES. If you contact the right person, at the right time, and say the right things, do the right things, and follow through the process you WILL land that account. But you won't land all of them. No one does. And if you're banking on a (insert prefix) mail campaign that doesn't include a phone call or three, you're bound for failure (or worse - mediocre results). You know how I can tell top Producers from the rest? The top Producers spend their time figuring out how Insurance Xdate is going to fit in and improve an already successful strategy. We never brought an agency back from the grave, that I know of, but that's not what we do anyway. Xdate is a fixed constant in an otherwise variable sales equation. Confused yet? Read on.
Published 04-24-2019 to Cold Calling
We recently revamped the LCM database to provide a historical look at your prospect's LCM history. We also standardized all the carrier names across states and terms..sounds simple, but there are an average of 8 spelling variations per carrier..so you're welcome.
Published 04-17-2019 to New Features
NEW DATA! We just cross referenced employee benefit data (health/retirement) for contact information and added to the WC database. New features for 2019 include contact voting buttons, Carrier Group color-coding in the Carrier History section and an LCM Heatmap in the Class Report section.
Published 04-17-2019 to New Features
Remember when owning a fax machine meant your agency was ahead of the tech curve? Me neither. I'm a millennial, but in the 80's it was a game changer for the commercial insurance sales cycle. While the times and devices have changed the principles remain. When is the last time you looked at the new tools and resources being developed and how they can be applied to commercial insurance prospecting?
Published 09-16-2018 to Case Studies & Usage Examples
I always recommend agents to use the Class Code option for industry targeting when it is available, which is good advice about 80% of the time. Some industries get shafted by the class codes though. If your markets want to write office exposures in the traditional sense (BOP policies) then you’re in luck, there’s a lot of them. For example, in CO there are 160k+ active WC policies. A little more than 20k classified 8810 (Clerical Office Emp). But if you have a cyber liability program for software developers, you have a lot of shit to sift through. SIC codes on the other hand will let you drill down to the 7k software development opportunities available.
Published 07-29-2018 to Prospect Targeting & Search Tips
Have a very narrow niche that is classed to generically to utilize a WC Class Code search? Maybe you have a program for apartment complexes, which is code 9015 in an NCCI state. Guess what else is classified under 9015 (NCCI states) – condos, property management firms, townhome associations, community associations too. That’s where the Keyword look up comes into play. And you probably don’t want all the apartment complexes in your state, right now anyway. You want the apartments renewing in the next 120 days within 50 miles of your office. We got your back. Read on to make your prospecting list a bit more efficient.
Published 07-28-2018 to Prospect Targeting & Search Tips
Who..what is the first named insured of that Workers Comp policy? The name on those trucks say AD Martin Carpentry. Google says Martin Contracting. Neither can be found on Xdate?! Relax noob, we got you covered.
Published 07-27-2018 to Prospect Targeting & Search Tips
Over the last 2 years 29 carriers have decreased their LCM filings, with the average being 12% and a range of 1 to 50%. 105 carriers increased their filings, averaging 8% and with the same range as those that decreased. The remainder are unchanged, all netting out to a 1% market increase. While that's a whole lot of nothing on the surface it might be a good idea to check out where your markets stand, or your competitors.
Published 05-24-2018 to Market Analysis
Increase- the common theme of LCM filings in MD. Use this tool to compare your markets to that of your competitors. Print it off. Be different. While every other agent is asking to quote that prospect you can use this to explain why you're willing to spend your valuable time reviewing their coverage. Sell the sizzle. Oh yeah, feel free to download the raw data files (link at the bottom).
Published 05-11-2018 to Market Analysis
We recently released an update to xdate offering to let you hit the ground running for Q2. New dashboard functions, and features. New tools for the Agency, and new states. Beta release of our Form 5500 Retirement and Health benefits data. Expanding your access to Workers Comp data using data visualization and analytics.
Published 03-26-2018 to New Features
Your agency and your carriers may have an encompassing risk appetite but that doesn’t mean your prospecting list should follow suit. In fact, why on earth would you have just 1 prospecting list? In this little post I am going to show you how to improve your odds on the phone and more effectively secure appointments by applying a simple trick to your prospecting list set up.
Published 09-27-2017 to Cold Calling
“If you fail to plan, you are planning to fail.” ~ Benjamin Franklin. Putting the calls in but not seeing them convert to new biz appointments? Now would be a good time to evaluate your marketing plan and figure out what’s going wrong or in need of adjusting. You do have a marketing plan, don’t you?
Published 09-26-2017 to Cold Calling
"I love filling out apps!" Said no producer ever. As much as it sucks filling them out, it sucks equally for the underwriter that has to review them. Are your underwriters taking 2, maybe 3 weeks to get back to you on your submissions? Insurance deals are a lit fuse and time is of the essence. Here are a couple quick tips for getting your submissions to the top of the pile. Whether they're going to offer you a quote or not, it's always better to know sooner rather than later.
Published 11-17-2016 to Agent Resources
How are other agencies making use of your service? Are they getting results? We get these questions a lot. Given the competitive nature of our product and the insatiable thirst for new business that you maniacs have, it shouldn’t be hard to believe that our users’ respective methods and approaches are closely guarded and rarely shared…and vary greatly.
Published 11-14-2016 to Case Studies & Usage Examples
Looking for a market opportunity? Maybe you're meeting with a prospect and want to show your knowledge of the market. Try this simple, free tool. Just pick a class code and see which Carriers are writing it, their current market share and the % change in each Carriers' Premium and Account market share from the previous year. You'll also see how much premium is up for grabs, among other things.
How is it relevant? Lets say I want to target Plumbers (5183). Using this analysis I can see there is over $21 million in premium at play between 10/1 and 3/31. It is a volatile market - there are a lot of markets. Some are gaining, some are losing. Zurich, for example, lost 9% of their account market share from last year, down to 92 from 101. They also lost 18% of their premium market share - from $945k to $770k. I can also see that Liberty Mutual increased their account market share by 19% and premium market share by 8%. Which plumbers would you target?
Published 10-20-2016 to Market Analysis
How are other agencies making use of your service? Are they getting results? We get these questions a lot. Given the competitive nature of our product and the insatiable thirst for new business that you maniacs have, it shouldn’t be hard to believe that our users’ respective methods and approaches are closely guarded and rarely shared…and vary greatly.
Published 09-29-2016 to Case Studies & Usage Examples
How are other agencies making use of your service? Are they getting results? We get these questions a lot. Given the competitive nature of our product and the insatiable thirst for new business that you maniacs have, it shouldn’t be hard to believe that our users’ respective methods and approaches are closely guarded and rarely shared…and vary greatly.
Published 09-29-2016 to Case Studies & Usage Examples
A lot of our users ask if we have any scripts available. Instead of an actual script, this post is to provide a basic outline for creating your own calling script. Insurance agents are unique and special in their own way, just like a snow flake. So should your calling script.
Published 09-29-2016 to Cold Calling
Something not adding up between the LC, LCM and Modified Rate? This post provides a little explanation about how/when these rating factors are posted so there is no guess work on your part. The LC we show may have gone into effect after your prospect's coverage renewed, for example, and it is important to be aware of things like this.
Published 09-26-2016 to Insurance Xdate FYI
Depending on state regulation (as always) carriers may have scheduled rating factors (credit/debit) they can apply to adjust pricing of a WC quote. These scheduled deviations should be justifiable (e.g. the insured has a fleet safety program, warranting a 10% scheduled credit be applied) but are sometimes swayed by the need to arrive at the right bottom-line cost of coverage to win the account and are therefore important to be aware of as a person selling insurance. This post provides a basic overview of this information along with available standardized credit programs.
Published 09-22-2016 to Pricing Factors of Workers' Comp
In this post we will cover the basics of Experience and Merit ratings. Although we have limited availability for this data, it is critical to have a basic working knowledge of what these ratings represent, how they are created and where they factor in to the overall cost of a Workers Comp policy.
Published 09-22-2016 to Pricing Factors of Workers' Comp
In this post we'll give you a basic overview of the various Workers Comp markets, which relates to how coverage is placed for an insured - were they voluntarily written by a carrier in the private market or was the prospect forced to apply for coverage via the state to have insurance 'assigned' to their account?
Published 09-22-2016 to Pricing Factors of Workers' Comp
Is exporting a big deal to you? Our data exports are based on your level of service. This post covers the different options available. If you haven't all ready, please read the 'Subscription Options - Base Services' and 'Subscription Options - Add-Ons' posts first so you understand what I am talking about.
Published 08-21-2016 to Insurance Xdate FYI
What is a Loss Cost? What is a Loss Cost Multiplier? As a Commercial Insurance Producer, why is this information important to me? Grab that 'world's best insurance agent' mug, fill it up with some cheap office coffee and lets get cracking.
Published 08-01-2016 to Pricing Factors of Workers' Comp