Cases get stuck. Clients set deadlines. The only way to consistently meet those deadlines is with an effective team effort. In this case, everyone involves was a finely tuned machine in their packaging, submission, approval and placement of a Key Person case. Read on for the rest of the story.


AT A GLANCE:

Underwriting: Financial Underwriting
Target: $79,480

Situation:

  • 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.

Solution:

  • 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

Results:

  • 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.