Insurance Program Development - DIME™
Using a unique blend of innovative products and reliable service, Norman-Spencer has created highly successful programs for targeted industries. DIME, our unique attainment process for niche industries, allows Norman-Spencer to provide highly comprehensive, marketable programs.
Develop
Qualify Industry Opportunity
Norman-Spencer is continually looking at market conditions and environmental factors within specific industry groups. When there is a change in one of these factors, there is also an opportunity for us to add value within a specific industry. A team of Norman-Spencer analysts will perform an exhaustive evaluation of the industry’s insurance needs taking into account resources available, risk tolerance, safety standards and operational practices.
Identify Risk Exposures
Our analysts ascertain industry and individual company needs so we can design a manageable and successful program that takes into account all possible risk impact and probability scenarios, risk reduction plans and cost-savings options.
Implement/Underwrite
Design Industry-specific Coverage
Norman-Spencer’s team of specialists are the best in the business. We surpass customer expectations for industries that have been previously overlooked by traditional firms. With Norman-Spencer you will not receive a template insurance program.
Evaluate/Select Optimal Partners
Because of Norman-Spencer’s reputation for industry-specific programs and their relationships with A and A+ rated carriers, Norman-Spencer can find the perfect carrier partner that will deliver the most comprehensive program with the greatest potential for success.
Market
Broker Associate, Carrier and TPA Communications
Norman-Spencer doesn’t just communicate with its insurance partners, it establishes relationships. Once we develop a program, it will be well received by the industry.
Develop Distribution Channels
Norman-Spencer currently operates in many national and regional industries. We are licensed in all states with access to all major markets.
Create Targeted Campaign
Norman-Spencer will develop a marketing strategy that targets select business markets through our strong retail broker network and our program division. Once the program gains momentum we will take advantage of every available resource to increase exposure including advertising, public relations, and personal broker contact.
Evaluate
Profitability Calculations
We are focused on the growth and financial success of each party involved. By constantly re-evaluating the value of our programs, Norman-Spencer is able to meet the changing needs of your particular industry.
Design Enhancement Strategy
We are committed to providing the highest standards of responsiveness and personal service to every broker issue. We continuously invite broker feedback and together we monitor both the program and the industry. We pride ourselves on our ability to adapt to industry fluctuations and continually revisit program strategy to ensure long-term satisfaction.
Implement Corrective Action Plan
When it comes to ensuring the financial benefit of a single program, Norman-Spencer knows that every effort is an investment. Our effort is focused on one thing: program success.