Do Not Let a Referral Partner Change Your Standards

A good referral partner can be incredibly valuable to an insurance agency.

But there is a hidden pressure that can come with that relationship.

The mortgage needs to close.

The house needs to sell.

The customer needs a policy quickly.

Everyone wants the transaction to keep moving.

And suddenly the insurance agent is being asked to find a way to lower the premium or rush something through.

That is where the relationship can become a problem.

The Referral Does Not Change the Risk

During this week’s IA Forward conversation, Shane talked about how easy it is for agencies to move too quickly because they want to satisfy a referral partner.

The danger is allowing the referral relationship to start driving insurance decisions.

If a real estate or mortgage partner is pushing for something that compromises the agency’s standards just to keep a deal alive, the agency has to be willing to say no.

A strong referral partner should understand that.

You can be fast.

You can be responsive.

You can make the process easy.

But you still have to write the risk correctly.

The Best Partnerships Are on the Same Page

A referral partner should not just send business.

They should understand how you do business.

That means having the conversation before the pressure hits.

“We want to take great care of your referrals, but we are still going to do this the right way.”

That protects the customer.

It protects the agency.

And in the long run, it protects the referral relationship too.

Because the fastest way to damage a partnership is to rush through a bad decision that creates a bigger problem later.

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