For the third time in as many years,
Big "I" Markets has experienced a record-breaking year. BIM thanks agents for their continued support, and appreciates the business and the opportunity to serve Big “I” members.
Below are some 2011 highlights:
- Total written premium increased 21% from prior year.
- Total policies in force increased 31% from prior year.
- 17,001 quotes were submitted, an increase of 24% from prior year.
- 4,229 binders were confirmed, an increase of 28% from prior year.
This all means that BIM is succeeding in helping member agents where it helps the most: closing sales, generating revenue and making money. As for new business, below are the top five markets agents are having the most success with.
Big "I" Markets 2011 Top Five Products: New Business Premium
Rank |
Product |
New Premium |
1 |
Affluent Homeowner |
$2,107,559 |
2 |
*Travelers Commercial |
$916,558 |
3 |
Habitational |
$894,665 |
4 |
Non-standard Homeowners |
$724,271 |
5 |
Bonds |
$442,461 |
*Includes community banks, real estate agents E&O and select accounts classes of Main Street commercial.
Affluent homeowner: This program grew more than 20% in premium and 30% in policy count from the prior year. Many agents are availing themselves of the Chubb Masterpiece® product and/or the Fireman's Prestige® Portfolio product to provide superior coverages to the high-end market. ACE and Chartis are also proving to be viable alternatives too. Each carrier has different coverage strengths and competiveness, and availability varies by market segment.
Travelers Commercial: With a combination of specialty niche and Main Street markets available, agents can favorably position themselves with most clients. Markets include:
Habitational: With this market, agents can write apartment buildings, condominiums and in some states, vacation rental property. Specialty niches include student housing, senior housing and affordable housing.
Non-standard Homeowners: Many members have taken advantage of this E&S market. Click
here for a listing of all markets that fall under the banner of non-standard homeowners.
Bonds: Not an expert but have prospects? Let the underwriters at Goldleaf help every step of the way. Agents have access to markets for just about
every bond need possible.