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Brokers: should you be working for free?

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Insurance Business | 27 Sep 2012, 12:05 AM Agree 0
How much advice should you give to clients before you start charging? Is there value in doing the hard yards for free? Or are the tyre-kickers bringing your business down? Insurance Business investigates…
  • Gary Everdell | 27 Sep 2012, 10:57 AM Agree 0
    There is sometimes a "vibe " which experince brings around a prospect. The means by which they find your Business is also a strong indicator of potential.

    Combinations of above generally prove the best in judging exactly how much "time" can be allcoated to an op to begin with - but one can always be wrong !!
  • Ian Jones | 27 Sep 2012, 12:00 PM Agree 0
    We have a system for any new clients whereby we do the work, give the advise, do the quote and if the client accepts the quote and instructs us to bind cover we immediatley advise them over the phone as well as by email or letter (that same day) that if the policy is not proceeded with (after the cooling off period), we reserve the right to charge an administration and documentation fee which equates to 10% of the quoted premium. We also have this worded on our invoices so the client is clear and completely aware of the charge. We have had 100% success in recovering this fee in the past. What it seems to do is to weed out the tyre kickers and those who may need cover for a particular reason with no intention to proceed or where they may be just using us whilst they source other quotes.
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