Underwriting: Financial Underwriting
- A vitamin and food supplement company was looking for $2MM of Key Person coverage on the two inventors and owners of an all-natural phytonutrient product.
- Two separate advisors were involved with each representing one of the Key Persons.
- The competing advisor placed $2MM of coverage on his client, but the advisor working on the second client was having difficulties navigating the financial underwriting component of the case.
- The company gave the advisor one week to bring the case to a resolution or they would be forced to turn to the competing agent to complete the case.
- Gerry Kochman, AIG Managing Director, Underwriting
- Debra Newcomer, Associate Director, Underwriting
- Chad Bachorowski, AIG Regional Sales VP
- Jason Speigel, AIG VP, Sr. Strategic Account Manager
- A true partnership between the field and AIG’s Sales and Underwriting teams came together:
- Gerry was comfortable with the financial justification for the case and gave the okay for $2MM the very next day.
- Within twenty-four hours the advisors completed an American General application.
- Debra Newcomer put the finishing touches on this impeccable execution as she was able to approve the case in forty-eight hours to meet the one-week timeline. As a result of this well executed plan, AIG placed over $79K in target premium.
Real Advisors. Real Cases. Real Success.