April 6, 2021
By Rebecca Batisto
As an insurance agent, your top goal is to provide the personal service and efficiency that your clients expect. However, with so many insurance agents out there, it’s hard to compete. How do you stand out in a tidal wave of competition? Easy! At Normandy Insurance, we stand apart from the pack in two significant ways: We care about the Experience Modification Rates (EMR or MOD rate) of our clients and we provide innovative ways to reduce workplace accidents.
How do those two things correlate? A company’s MOD rate calculates a client’s safety record compared to other companies in the same industry. The better the MOD rating, the lower the cost of premiums for your client.
Along with better premium policies, the MOD rate affects a company’s ability to borrow money. A company can lose all credibility based on a poor rating. In the end, a MOD rating is there to encourage a safer environment for a company’s employees.
Agents cannot directly affect a company’s MOD rating, but we can help in the best way: by suggesting safety programs to our clients. Though it’s up to the client to ultimately go with the suggestions, providing any safety program could help their MOD rating change for the better.
In what ways can you help your client? A good agent will analyze the common safety issues in their client’s workplace and provide statistical data to back up their claims. With this information, you can pinpoint the most common safety hazards and provide solutions or safety programs to mitigate or eliminate the issue. Some of the most common OSHA violations are detailed on their website, and the site offers a list of solutions you can pass onto your client. Taking on the responsibility of educating your client’s workforce could save them from future accidents and save them the time they would have to spend on these educational briefs. As an added bonus, this shows your client that you are fully invested in their business and could help you to retain that client or even ask them for referrals.
Not every agent will go the extra mile to ensure lower premiums for their client. Not all agents work with their clients to analyze workplace safety hazards and assist in implementing safety programs. If this sounds like you, and you’re not appointed with us yet, we’d like to have you join our partners and become part of the Normandy team! For more information on our insurance method, check out our white paper on our Agent Resources page