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Silver Plume's new online information product gives producers the right advice
Where do you turn for Sage advice?
Most insurance buyers turn to their agent or broker. Most agents turn to whatever resources they have in the office-and hope they know where to look amid piles of manuals, binders and trade publications.
Craig Nelson, vice president and commercial lines producer at TJ. Adams Group in Oak Brook, Illinois, encounters tough questions and complex risks all the time-and he's supposed to be the expert on everything.
"We handle small to medium-sized commercial clients, but just because they aren't Fortune 500 companies doesn't mean they don't need sophisticated risk management. And they turn to me for answers," he says. "But no agent or broker can know everything about every kind of coverage. We have to do research-dig through manuals, read trade publications-anything we can."
Nelson also has another research option. His firm is one of 200 agencies that recently tested Sage, an online risk information resource developed by Silver Plume in Boulder, Colorado. Released in August, the new product is a research and analysis tool designed to support producers in growing and retaining their commercial lines book of business.
The new research product features a broad range of detailed risk and coverage analysis, available markets, industry profiles, special forms and general industry articles that can be delivered over a standard Internet connection and searched with a powerful Internet-based search engine.
Nelson tested the crime insurance information in Sage, a typical research question, he says. "Most commercial clients have some form of crime exposure, but the insurance needs and the endorsements can vary widely depending upon industry. A small financial company can have a big crime exposure. A retailer can also have an exposure, but not as big an overall risk.
"Unless you're a specialist, you can't possibly know all of the details, all of the alternative endorsements and markets for the coverage. Most producers need some sort of resource," he explains.
Nelson says that Sage saved him hours of research time, refocusing the search as the search engine produced results. He found the information he needed faster than ever before.
Nancy Lance, a risk management specialist who works with construction contractor clients, also...