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Reviving the Submission Letter: A Key to Successful Underwriting

Update A Nostalgic Look at the Submission Letter In an age dominated by instant communication and digital messages, it seems the art of the submission letter has become a relic of the past, almost akin to an endangered species waiting for revival. The submission letter used to accompany the submissions agents made to underwriters, providing not just numbers, but a narrative—a unique story. This personal touch is crucial in industries like surety, where understanding the essence of a business and its people can often mean the difference between acceptance and rejection. Why Submission Letters Matter Historically, submission letters served to contextualize the raw data provided by a client. They offered background information on the company—revealing its origins, ambitions, and capabilities. As agents crafted these letters, they connected the dots between cold hard facts and the warmth of human ambition, giving underwriters a nuanced understanding of the applicant and their journey. A well-crafted submission letter could elevate an application from being just another name in the pile to a compelling story that piqued an underwriter's interest. The Rise of Impersonal Communication Today, however, many professionals find themselves chasing deadlines at a rapid pace. The reliance on emails filled with attached documents has crowded out the thoughtful dialogue once present in submission letters. For underwriters inundated with applications, the personal narrative now often feels like a luxury, rather than a necessity. Understanding this shift in communication style is essential for agents aiming to stand out. Leveraging Submission Letters to Foster Connections Despite the trend away from personalized communication, those who still champion submission letters can reap notable benefits. As highlighted in contemporary discourse, including insights from Nancy Germond's article in IndependentAgent.com, the significance of presenting a well-organized submission cannot be overstated. In tight-knit markets, agents who take the extra step to include personalized letters not only display a commitment to their clients but are recognized by underwriters as knowledgeable and dedicated partners. What Elements Make a Submission Letter Effective? Personalization: Tailoring the letter to the specific underwriter or company can work wonders. Mentioning past interactions or common acquaintances can help forge a relational bond. Highlighting Strengths: This is your chance to emphasize the client’s unique strengths—financial stability, a committed management team, or a clean claims history—that make them a solid risk. Narrative Synopsis: Providing a brief synopsis of the client's story or mission can aid the underwriter in grasping the bigger picture behind the numbers. Call to Action: Clearly stating any urgent deadlines or requests for urgency could assist in moving the underwriting process along more swiftly. The Future: Can We Revive This Crucial Communication Tool? For surety agents and underwriters alike, distinguishing oneself in a crowded market is pivotal. While digital forms and quick email exchanges may prevent setbacks in process time, considering a revival of submission letters could fortify agent-client relationships and enhance underwriting decisions. The growing importance of authentic storytelling alongside numerical data makes the submission letter an indispensable tool worthy of mindfulness. As we navigate through 2025 and beyond, embracing the art of the submission letter not only is a nod to tradition but also strengthens community bonds within the industry. For those interested in furthering financial peace of mind through innovative solutions, consider exploring final expense insurance options, where your future worries can be addressed through personalized plans.