tag:blogger.com,1999:blog-38052332440639603132024-03-13T13:46:55.968-07:00kaybeeknitsAnonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-3805233244063960313.post-82369134725683055392012-10-04T00:35:00.002-07:002012-10-04T00:35:27.913-07:00kaybeeknitskaybeeknitsAnonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-18669934746431784282012-09-25T20:42:00.000-07:002012-11-09T20:42:31.360-08:00What Would Steve Jobs Do<br />
<div style="text-align: justify;">
After reading Walter Isaacson's great book about Steve Jobs, I began to imagine what would Steve Jobs do if you were running an insurance agency. The first obstacle I thought about was that Steve Jobs could not do it because he would have to deal with the products he could not control from insurance companies. Let's just ignore that issue and his bad traits for the rest of this article.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Steve Jobs' primary focus was to create great products. All else was secondary. The product of insurance agency is the service it provides to clients. The direction he would take would be to provide a seamless integrated experience for the client. People have too many things to worry about and not enough time to be able to focus on their insurance needs and problem.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Remember the time before the iPod? What was it like to go buy a stereo system? There were dozens of preamps to select, CD players to review, cassette decks to analyze, turntables to choose, and speakers to complete the package. Who had time to figure out what was the best way to go?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The SJ Agency would create a system with few options and allows the prospect to quickly discover their insurance needs. The key step here is to develop the technique of collecting information from the prospect and analyzing their insurance needs. There are tons of questionnaires that do a good job in discovering potential risk areas. Steve Jobs would develop a way to collect information quickly and painlessly.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Once the needs were analyzed, the client would be offered a prepackaged plan with few options. The part of the plan that Jobs would emphasize is not the insurance policies, but the services that the agency is providing the customer to make their life easier. The agency would create e-mails and letters that would go out automatically over the course of the year reminding them of the need to provide updated information and to reinforce the idea that the agency is there to support them.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
One belief that Steve Jobs held was that it was important to create a product that the client did not yet know that they needed. SJ insurance agency would be equally innovative. The agency would have periodic meetings with the employees and some key outside advisers to analyze what the agency is doing now and 10 new ideas to focus on in the future. He would let the employees work on ideas to improve the product.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Another key belief Steve Jobs had was to obsess about the details. He wanted everything to be perfect including the parts that the customer could not see. That might mean that Steve Jobs spend a lot of time developing streamlined procedures for the business. His agency would be very consistent in the product/service that they provide their customers.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The various departments in the SJ Agency would work together as a single team. Changes would only occur after getting feedback from everyone. Collaboration and integration are to be expected from the employees. This is important at several levels. It allows employees to have some control over what goes on. It also creates a sense of responsibility and accountability since they were part of the decision-making process.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Steve Jobs would also employ his "reality distortion field." He would push and challenge his employees to do their best, and more. This approach will work however, only if the agency has all "A" players. He would hire only the best. The employees would need to be passionate about providing excellent service for the client. These type of people are hard to find and usually demand higher compensation. The good news is that they are self-sufficient, they can manage themselves, and their productivity would be off the charts. The time and money required to find and hire these people will be worth it in the long.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Steve Jobs was that once-in-a-lifetime personality that was able to change the world. He had the perfect blend of vision, drive, and persuasion to create new things and build very successful businesses. One of his traits that help them succeed was to be able to spot a good idea and remold it into his unique version. Xerox Parc was the first to create a graphical user interface and a mouse. That great idea would have died on the vine except for Steve's use of it in the Apple II.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-17596169709976419482012-08-22T20:40:00.000-07:002012-11-09T20:40:58.118-08:00Do You Have the Best System for Making Insurance Calls<br />
<div style="text-align: justify;">
Insurance sales agents who succeed long term have developed a system for scheduling insurance calls. Insurance sales careers are attractive because of generous commission structures and residual commissions. Many agents pay a premium for insurance leads from online lead generation websites. With experience comes the knowledge of exactly how many insurance sales calls will result in sales.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The first things a new insurance agent needs is:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1. Product knowledge and </div>
<div style="text-align: justify;">
2. The mechanics of how to conduct a successful sales call.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The sales process can be broken down into steps. Understand your client's needs first and foremost. Ask a lot of questions about their goals, concerns, and needs. Next, address those needs specifically, and close. Address objections and close again.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Identify each step of the sales process so you can correct errors if a sale does not close. If you know what parts of the sales call give you trouble you can prepare differently for the next sales call and steadily improve your closing ratio.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Agents who are new to a career in sales and insurance sales specifically are frequently alarmed to discover they have a fear of making cold calls. Not making systematic cold calls can destroy any sales career. Initially, to save money it makes sense to complete your own sales calls. There's relief available to erase call reluctance completely.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Smart Sales Managers provide training in Emotional Freedom Techniques (EFT) to dissolve discomfort associated with making insurance calls. The use of (EFT) is central to your success if you find you have a love/hate relationship with cold calling new prospects. EFT is emotional acupuncture. It's an energy therapy that combines thoughtful focus with a series of tapping sequences on multiple body points. The EFT process miraculously dissolves feelings we wish to change.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
With EFT one does not need to identify the origin of their trauma or discomfort, however they do need to identify a feeling or idea upsetting their performance. EFT is emotional self-care. We grow up making conclusions that may not be true. Some people fear failure, some fear success. If you have feelings that conflict with tasks your job demands those feelings can dissolve. You've got the power to place supportive feelings and ideas where negatives once held you back.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
EFT is easy to learn and produces instant results in many cases. It's been used by healing practices for twenty years. Millions of people have benefited and now it's time to use EFT to address everyday challenges.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Insurance calls are a task. Much like walking the dog or emptying the dishwasher. Insurance calling can be boring so schedule the time to make your calls and get comfortable completing those calls. The secret to cold calling once unwanted anxiety is dissolved is to make those calls quickly. Don't take all day. Don't allow more than five seconds to elapse between calls. Keep it mindless. I read a sales training book years ago that talked about a top producing insurance agent. He would sit down to make 100 or more calls until he had his week fully booked with in-person meetings.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
His system seemed horrid to me as a novice sales person. Every time someone answered the phone he would say, "You don't want to buy insurance, do you?" No introduction, no small talk. His only goal was to schedule appointments and he did this consistently all the way to the bank. Invariably people would say, "Hey wait a minute, I do want to buy insurance!" Customers were surprised by his direct approach. The result? Going into each appointment, this agent knew his prospect was open to buy insurance! This man made millions.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If insurance calling is part of the routine that will make your dreams come true then figure out how many cold calls create the number of face-to-face appointments you need each week. Next, use EFT daily until you've erased all feelings of discomfort associated with sales calls. If new fears or thoughts emerge that create self-doubt or threaten to derail your success, tap them away! If rejection feels personal, EFT can change your response. If you're a shy person, EFT will help. EFT can erase any feeling or idea that sabotages your success.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Develop a script that reflects your style. Use EFT to make Insurance calling easy, and fun! Insurance sales is a great career. If you feel like you've got to motivate yourself to go our and do battle with the world something's wrong. Insurance calls are key to an agent's success. Learn the sales process, know your products, use EFT, and watch your confidence and sales numbers skyrocket!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-56687076412092719872012-07-25T20:39:00.000-07:002012-11-09T20:39:21.203-08:00What to Look for in a Good Insurance Agent<br />
<div style="text-align: justify;">
Insurance agent - does the word ring any bells? May be a figure of a relative or a person who pesters you to meet his monthly sales target comes to your mind. Or you remember a person who you rush to do last minute investment to save on income tax.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A good insurance agent is like a good doctor or a lawyer with whom you should have good relationship with. You never know when you will face an emergency needing the help of an insurance agent. Selling you an insurance product is just a very small role that an agent has to perform. As a professional dealing with insurance product, he can perform a very key role in securing your and your family's future, to plan for important events in your life such as your child's marriage or planning your retirement. Following are some of the important attributes you should look for in an insurance agent:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1. He should be a good educator</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The world of personal finance is evolving by the day. Companies are wooing customers with newer investment products and sales gimmicks. A good insurance advisor is someone who should help you cut through the clutter and determine what your exact financial goals are and recommend products which should help you achieve those. He should be well informed about the new products available in the market, what are their key features, how safe or riskier are they and what kind of instruments do they invest in, so that he can provide you with insightful advice.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
2. He should be the seller of products from multiple insurance companies</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
This way he will be able to provide you options and help you select the best product suited for your needs. If he sells products from one insurance company, then he would be more interested in getting you to buy that rather than determining which is the best one for you</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
3. Level of customer service</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
You insurance agent should facilitate your interaction with the insurer. He should be facilitating your premium payments, send you reminders when your installments are due and keep you updated about the status of your policy. In short, he should act as a single point of contact between you and the insurance company.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
4. Help you in the claim process</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Insurance claim is a very important process. Generally you go for a claim when you are in a distressed state such as death of the breadwinner of the family or a health insurance claim when someone in your family is hospitalized. Similarly you would need prompt settlement of your claim if you want to finance a planned event such as your child's education. A good insurance agent should assist you with this process, help you with the paper work and promote your case among the insurance company's officials. He should be your advocate to the insurer facilitating fast and apt claims for you.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-23145302801944961762012-06-19T20:37:00.000-07:002012-11-09T20:37:41.582-08:00Insurance Marketing Agency Outsourcing Versus Internal Staffing Models<br />
<div style="text-align: justify;">
For most insurance agencies, brokers and wholesalers, it's unlikely to internally staff up on all their insurance marketing initiatives. This is as true for insurance organizations as it is for most businesses, especially those between $1 Million and $50 Million in revenues. Some might refer to this as the SMB market. Businesses of this size may lack a sufficiently large marketing department to cover all the skills needed for a comprehensive marketing program. Consider that an insurance marketing plan can incorporate many and varied marketing activities. For example, in any given year, once a marketing plan is created, an organization may wish to embark upon an organic search engine optimization initiative, helping their website rise to the top of the SERPs (Search Engine Result Pages). Or they may wish to build an opt-in email list and offer an educational webinar series to their targeted prospects. In fact, any of the following elements may be needed, and many of these types of marketing activities require highly specific and sometimes highly technical skill sets:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
PPC ads, Banner Ads</div>
<div style="text-align: justify;">
Insurance eMarketing</div>
<div style="text-align: justify;">
Insurance Newsletter Distribution</div>
<div style="text-align: justify;">
Blogging, Vlogging, News Releases</div>
<div style="text-align: justify;">
Insurance Social Media Marketing</div>
<div style="text-align: justify;">
Insurance Website Development</div>
<div style="text-align: justify;">
Web Seminar Marketing</div>
<div style="text-align: justify;">
Contact List Generation, eMail List Generation</div>
<div style="text-align: justify;">
Insurance Telemarketing, Appointment Setting</div>
<div style="text-align: justify;">
Client Testimonials and Case Study Creation</div>
<div style="text-align: justify;">
Insurance Agency Lead Generation Programs</div>
<div style="text-align: justify;">
Organic Insurance Search Engine Optimization</div>
<div style="text-align: justify;">
Insurance Agency Video Creation (and YouTube video)</div>
<div style="text-align: justify;">
Insurance Web Marketing Plans</div>
<div style="text-align: justify;">
These are just some of the marketing activities agents, brokers and wholesalers might utilize in their marketing efforts. There are also many traditional initiatives such as print advertising, association marketing, sponsorships, etc. How can an owner, manager or agent determine if they should internally staff a position or outsource the position? An easy ROI is based upon the marketing activity and frequency of the activity. For example, let's say they want to increase insurance agency leads, and opt to send out two webinar email campaigns per month and run a webinar as the Call to Action for the campaigns. Further, let's assume they want to do this every month for a year. If it costs $60,000 per year to hire an eMarketing manager to do this, versus $20,000 per year to outsource it, it's an easy decision. However, if the goal is to run six webinars a month to various target verticals, with 12 eMarketing campaigns per month, then it could become a closer call, as the outsource costs may begin to approach the internal staffing cost. Makes sure both costs are evaluated as fully burdened costs (outsource should include all infrastructure while internal staffing costs should include health benefits, expenses, and related overhead).</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Take the same approach with Search Engine Optimization and insurance websites. Would a full time developer and organic Search Engine Optimization specialist be needed to create and update your insurance agency website, or do you simply need a new website with periodic updates. Today there are many good options for new insurance websites that include Content Management Systems (WordPress, Joomla, etc.) allowing businesses to use nontechnical resources to make most of their own website changes. Agents should review their goals, create a marketing plan (a possible outsource), and determine the ROI of staffing versus outsourcing for their specific marketing initiatives. This is often an iterative process, not a one time annual event.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-12600619634557828992012-05-23T20:35:00.000-07:002012-11-09T20:36:06.228-08:00Techniques for Finding the Best Insurance Sales Leads<br />
<div style="text-align: justify;">
When looking for cost-effective and superior insurance sales leads, consider the fact that:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1. Selling a product to someone who is neither interested nor ready to buy is a pretty tough prospect. </div>
<div style="text-align: justify;">
2. A great deal of time is spent looking through databases, hunting down lists, and trying to figure out which prospect service is worth the money. </div>
<div style="text-align: justify;">
3. It is quite a task to find people who are ready to buy now. </div>
<div style="text-align: justify;">
4. An awful lot of time is spent looking for good prospects instead of pitching them.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Many people have spent money on lead generation services where prospective customers provide their name and contact information in order to qualify for or receive a prize or giveaway. This kind of lead collection produces many cold prospects, because people are mainly interested in receiving a prize and not in the product.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The right insurance sales leads are the surest path to bigger and faster commissions. When trying to sell insurance without decent sales leads, an inordinate amount of time is spent for very little gain. To find the best prospects, one should consider the following valuable information designed to help develop a lead system where motivated, ready-to-act clients are calling in, which will substantially reduce the need for making cold calls.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
FAMILY AND FRIENDS</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Start with family and friends. They may know someone needing this type of service, or can maybe suggest potential clients that would be open to listening to the information being provided.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
CURRENT CLIENTS</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Current clients may be the best source of leads. If selling multiple lines of insurance, talk with them about other policies that are available that they may be interested in. </div>
<div style="text-align: justify;">
At the end of scheduled appointments, ask if they have any referrals that might be able to use these services.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
NETWORKING</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Doing a good job of networking when out of the office can be tremendous. Never launch into a sales presentation in a social situation unless the other person has taken the lead, which will rarely happen. Contact them at a later time to keep business and social conversations separate.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
JOIN ORGANIZATIONS</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Joining community organizations will likely increase networking opportunities. If an abundance of insurance agents are already members, search for groups that have yet to be heavily infiltrated to avoid wasting time and money.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
PAY FOR LEADS</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It may be appropriate to pay for insurance leads, but ask other agents what lead companies they may have had luck with. It's always a good idea to ask an established agent who is not in direct competition, otherwise he or she may not be as willing to help out with information.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
ENLIST STAFF</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If there are assistants who work, taking calls and greeting clients, train them on how to cross-sell and ask for referrals. They can become a valuable resource as well.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-1863828500746942942012-04-18T20:33:00.000-07:002012-11-09T20:33:55.931-08:00Insurance Sales and Business Building Ideas<br />
<div style="text-align: justify;">
1) Retain Current Customers</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It takes five times as much time, money, effort and energy to get a new customer as it does to retain a current one. Current customers are your foundation and the first step to building a business is keeping that foundation firmly in place. You keep that foundation in place by regularly communicating with customers, delivering top-notch customer service, and overall making sure your customers are extremely happy with you and the service you are providing. You should be asking, and otherwise surveying customers, on a regular basis as to what they like and what they think you can improve upon. When you do speak with customers, let them know you appreciate their business. Never take customers for granted or let your service slip.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Do what you can to build a personal connection with customers. Send thank-you notes, cards on special occasions, and find other ways to add that special touch and let customers know you care. We know that people do business with people they know, like, and trust, and in fact, studies show that 97% of people list that as the number one reason for doing business with a particular company. It's simple, before a friend leaves you for a better price or perceived better service, they will at least pick up the phone and call you.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Note: I realize there may be some customers you don't want to retain and that's fine, just make sure to remain professional and above-board. You don't want to tarnish your image or give anyone any unnecessary ammunition against you.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
2) Review Coverage</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Not only is reviewing coverage on an annual basis the right thing to do for your customer, it can also provide the opportunity to increase coverage and add other items thus adding premium dollars. Of course you only suggest increasing coverage if it is necessary, never in an attempt to simply increase premium and make more money at the expense of your customer. In addition to opportunities for more business, reviewing coverage helps ensure that both the customer and you are covered in the case of a claim, as most complaints come from inadequate coverage and a lack of communication.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
3) Inquire</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Studies show that the average policy holder has 6-7 policies while each agency has only 1.5 of those policies. During your annual review and other conversations with the customer, you want to inquire about other policies the customer might have that you can get.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For over 20 years I had my auto policies with one agent, my home-owners with another, and several other policies in other locations. This was due to several reasons, but it is clear that I am more the rule than the exception. Not once in that twenty-year time frame was I asked by any of my agents about other policies I had elsewhere. Not once. If they were trying to get rid of me, I would understand however, due to the fact that I have never had a claim, pay my above-average premiums in full with the first invoice, and am otherwise a good customer, I can only assume that they are missing the boat. If someone has a home-owners policy, there is a very good chance they at least have an auto policy or two. It's as simple as saying something along the lines of, "By the way, if we bundle your auto and home-owners I may be able to save you some money. Can I simply give you a quote if for no other reason than to keep the other guy honest?" With one or two simple questions during each review, it's entirely possible to double your business.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
4) Pursue New Business</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
This one is pretty self explanatory and should go without saying. In addition to adding new customers to your current base, you will occasionally have to replace customers that die, ones you decide to let go, or ones that leave for some other reason.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Start by deciding how many new customers you would like and then determine how many prospects you need and how you will get those prospects. Break your annual goals down to monthly, weekly, and daily activity and then get to work. These days, with the average agent and agency cutting back, it's a great time to go get new, competitive business. And remember, you're in sales and sales is a numbers game. While it's true that you need quality behind the numbers and the eventual relationships, in order to get the relationships, you need to talk to lots of people. It's simple, the more people you talk to the more business you will do. If you talk to enough people during the day, you will eventually run into someone who says, "I need what you have" or, "I know someone who needs what you have."</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-8095296790548797912012-03-21T20:31:00.000-07:002012-11-09T20:32:23.662-08:00Planning for Uncertainty<br />
<div style="text-align: justify;">
The traditional business plan includes short-term and long-term goals and projections. But, how do you plan when you can't guess what will happen? Some things are shifting faster than you can keep up with, while other things can drastically change based on politics. Part of the reason for our current economic challenges is due to short-term thinking. Traditional business planning is becoming obsolete.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
However, if a business abandons long-term planning it has no direction and will be totally reactive and not proactive. The focus on short-term trends will cause a business to chase after opportunities, instead of creating them.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
So, what is a business to do in these uncertain times? The key is to develop a plan that has both a flexible foundation and scalable systems.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Consider the typical insurance agency. It would have various lines of business; personal lines, commercial lines, group benefits, etc. Some agencies might have several niches like construction, retail, D&O, etc. These business segments are the foundation of the business.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The business segments can be considered as something closer to long-term goals. It is easier to predict that health insurance is currently uncertain, while personal lines seems stable at this point. The key to long-term planning is to accept that one or more segments might not perform in the future. The agency needs to plan for flexibility between departments.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Regarding insurance agencies', if health insurance sales drop off significantly, how can those resources be redirected to other lines? Or, what options are available to decrease overhead? It is important for a business to add or delete segments of business as trends change. In most cases, these trends would take about five years, plus or minus a couple of years.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Create a Scalable Plan </div>
<div style="text-align: justify;">
Once these segments are identified and trends established, the next steps is to create a scalable system. A plan needs to be established to grow or shrink each segment of business based on current trends. Let's assume the contractor's niche is shrinking. What can be done to increase sales in the other niches? Scalability means to plan for increasing or shrinking a segment of business based on demand.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A scalable business is able to increased revenues while the ratio of cost to revenue is less to deliver than current ratio. In other words, the cost of growing is far outweighed by the resulting profits. A scalable business is one that can take on new clients without increasing workload.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Businesses will always have operating costs, but scalable businesses try to keep low their variable costs -- or the costs incurred with each customer they gain. A business that follows a scalable model will not have its cost per customer increase, even if it gains 100 customers overnight.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Insurance is a little less fickle than other businesses. Cabbage Patch dolls and Pet Rocks have a very short cycle compared to most lines of insurance. This means insurance agencies have a little more time to scale the business, compared to some other types of business. Insurance agencies are also not as scalable as a business that does not manufacture widgets.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The good news is that when there is a focus on niches or specific lines, the agency is able to have some level of scalability. It is important to create a system to quickly adapt to short-term changes. If one line drops, the agency needs to be able to move resources to the lines that have the potential for growth.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
This type of system will require cross training and individual flexibility. The business plan needs to incorporate these requirements and train its people to know when operations need to change.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Conclusion </div>
<div style="text-align: justify;">
These are uncertain times. Most businesses are experiencing increases in risk. They key is to develop a business model that can adjust both its foundation and scalability, depending on the circumstances.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-7466411848160581942012-02-15T20:30:00.000-08:002012-11-09T20:31:06.820-08:00Rules and Regulations for Fair Energy Marketing<br />
<div style="text-align: justify;">
To better provide you with a sense of security when enrolling with an electricity and natural gas marketer/retailer, we have outlined the regulated procedures for registering new consumers, and soliciting door to door sales. This article outlines the rules and regulations for energy marketer/retailers in Ontario, to better protect you and your natural gas and electricity bill from marketing scams. This article provides a number of warning signs to help you identify unfair sales practices before signing up to a contract with hidden conditions.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Fair Energy Marketing Practices</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The rules and regulations are considered fair sales practices that each and every energy marketer/retailer should abide by when soliciting door to door sales. These guidelines are explained in detail in the Code of Conduct which is regulated by the Ontario Energy Board. This code describes exactly what every sales representative ought to do in order to honestly solicit home and commercial sales in Ontario.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Speak to a Legitimate Home or Business Owner</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Sales representatives are told to exercise caution when soliciting home or commercial sales, and should make sure that they are consulting with a legitimate account holder before advancing with any sales presentations.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Who is Qualified to Sign?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Whether the contract is for a brand new fixed price agreement, a renewal or the extension of a pre-existing contract, the contract has to be signed by an appropriate signing authority. Energy marketer/retailers are also advised to use caution when selling to anyone who may have a language barrier, are over 70 years of age or under the age of 18, and does not clearly grasp the Terms and Conditions of the contract.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
In residential cases, contracts should always be signed by the account holder, the account holder's spouse or the account holder's common law partner in order to be considered valid.</div>
<div style="text-align: justify;">
In commercial selling, contracts have to be signed by the business owner or a representative with permission to enter into contracts with respect to the business.</div>
<div style="text-align: justify;">
Provide a Business Card</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Sales representatives should always offer every consumer a business card upon arrival. Standards for the business card consist of; the sales representatives name, Ontario Energy Board licence number, the energy marketer/retailer's name and address, toll-free telephone number and website address.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Provide Business and Product Material</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Sales representatives should always supply accurate business and product information. They are required to mention to the consumer, that the business they represent is offering a fixed pricing agreement for the supply of natural gas and/or electricity and express that they are not the consumer's utility. Sales representatives are also instructed to inform consumers that they are not affiliated with the Ontario Energy Board or the Government.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Communicate Pricing and Contract Terms and Conditions</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Sales representatives need to indicate the rate to be paid per unit under the contract as well as, the terms and conditions of the contract. At this time account holders should have the opportunity to read the contract and examine the terms and conditions, price comparison form and disclosure statement.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Don't Pressure the Consumer</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
When implementing door to door sales, sales representatives are to abstain from exerting stress on an account holder and are required to permit consumers the chance to look at all paperwork presented before making a decision to sign.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Provide Updated Sales Material</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
All sales content supplied is required to contain accurate, factual information that will not mislead the consumer, and in addition offer current pricing, an up-to-date disclosure statement, price comparison form and the contract's terms and conditions.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Be Truthful and Consistent with Communication</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Sales representatives should always be consistent with all information and facts communicated to the account holder. Inaccurate information or a deceptive portrayal of the products and services offered are considered inappropriate sales tactics and a sales representative's compliance with the code of conduct is imperative.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Display a Legitimate Identification Badge</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Every sales representative is provided with an energy marketer/retailer identification badge that should be displayed on external clothing making it recognizable to consumers. The representative's badge is required to contain the sales representatives identify, in addition to photo identification, the marketer/retailer business name, a valid identification number, and the badge expiration date.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Signing a Contract</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
When opting into to a brand new contract, be certain to request a copy of all sales material, prior to the sales representative exiting. Make sure you have been supplied with the following paperwork;</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A signed and dated copy of your contract</div>
<div style="text-align: justify;">
A signed and dated disclosure statement for natural gas and/or electricity</div>
<div style="text-align: justify;">
A signed and dated price comparison form for natural gas and/or electricity</div>
<div style="text-align: justify;">
The energy marketer/retailer's Terms and Conditions</div>
<div style="text-align: justify;">
The sales representative's company card</div>
<div style="text-align: justify;">
After enrolling with the energy marketer/retailer you should receive a hard copy of any sales document on the spot. Among these sales materials you should have; the contract, price comparison form, contract terms and conditions, disclosure statements and any additional product information available.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
3rd Party Affirmation Call</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A call center representative will contact the account holder and approve the contract after the 10 day cooling off period, end date. The affirmation call permits the account holder the chance to have any information clarified and questions answered. The affirmation call is digitally recorded, and is initiated as an outbound call from the energy marketer/retailer.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The affirmation call describes the product(s) and service(s) purchased, contract pricing, and the terms and conditions of the contract through several Ontario Energy Board regulated questions. The energy marketer/retailer will keep this affirmation call on file for the course of the contract. Account holders should be able to request a digital copy of the affirmation call throughout the duration of their contract if desired.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
10 Day Cooling Period</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Under the Energy Consumers Protection Act 2011, otherwise known as the rules and regulations for selling to a consumer, a 10 day cooling off time period is allocated to provide account holders a time line during which they have the option to cancel their contract. Under the Energy Consumers Protection Act, consumers have the opportunity to terminate their contract cost-free, and without penalty, up to 10 days once the account holder has recognized receipt of a text-based copy of the contract.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
When You Initiate the Sale</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The affirmation call is not mandatory if the contract was entered into over the internet or if the account holder replied to an energy marketer/retailer's direct mail advertising campaign.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Signs of Unfair Sales Practices</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Any phony, misguiding or fraudulent statements made to the consumer this includes; The terms and conditions of the agreement. Example: Leaving out significant details about; the contract length, termination of contract, renewal policies, crucial dates, extra charges, etc.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Information regarding the quality or characteristics of the energy source and/or products supplied. Example: Stating that they will provide you with green energy when they don't.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The track record of an energy marketer/retailer, or the businesses association with an alternative electricity supplier or gas marketer. Example: Misleading statements which include misrepresentation, pretending to be from the utility or the government.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The contract pricing and any extra fees are required to be clearly stated in the contract.Example: Not telling consumers that the contract rates will only come into play in the event that the utility cost surpasses the energy marketer/retailer.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Taking an unconscionable action on the part of the account holder. Example: When a sales representative has unfairly exploited an account holder who might not fully grasp the agreement terms and conditions, has a language barrier, elderly, disabled or pressured into entering into onto a contract.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Failure to communicate specifics details on products, services, or the energy marketer/retailer's business. Example: Leaving the account holder with the perception that the sales representative is associated with or represents a local utility, the government or Ontario Energy Board.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Permitting an unqualified individual to sign into a new contract/renew or extend the length of a contract when the individual is not the account holder or an appropriate signing authority for the home or business.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-3701537419502462092012-01-24T20:27:00.000-08:002012-11-09T20:27:27.188-08:00A 7 Step Approach to Marketing Today's Insurance Agency<br />
<div style="text-align: justify;">
Marketing your insurance agency has changed so much in the past 10 years; it is difficult to know where to start. Most of the new clients that hire us, have URLs that are less than 5 years old. This shows how dramatically and quickly the industry has changed when marketing their agencies. Today, most consumers will utilize the internet to find your information through various directories, organic search results and even social media.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
You may be wondering, "Where do I begin?" We've put together a short list of ways to increase your web presence and reclaim your position as a top insurance agency marketer.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 1: Update your website</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If your website looks like it hasn't been updated since 1997, it's probably time to do so. There are many resources to easily build a website such as "WebSite Tonight" by GoDaddy or services such as Wix, which will get you a nice looking website using templates. But, be careful of websites that utilize too much flash as it will likely hamper your ability to get much traffic to your website, besides direct traffic.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 2: Invest in SEO</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If you're unfamiliar with what SEO means (Search Engine Optimization) you probably should talk to someone about optimizing an existing website or building you a new one that is optimized from the start. SEO is all about getting organic search traffic to your website. For instance, if someone types in "Insurance Agency Seattle" you want to be the agent who Google shows first or at minimum on page one. If you're not on page one, you're missing out on almost 93% of all search traffic.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 3: Get Email Hosting</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I can't tell you how many of our clients still use email addresses at email providers like Yahoo and Hotmail, such as: "taber@hotmail.com". Show your prospective clients that you're an established business by using domain registered email accounts. Most hosting companies will provide at least a handful of them for free with your website hosting, so take advantage. Customers are more likely to buy from an agency that shows professionalism on all fronts, including their email.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 4: Fix your local listings</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The web is littered with directories. There are so many, it would be nearly impossible for you to go to each one and update the listings entirely. Furthermore, it would be a waste of time. Go to the big ones like Yelp, Yahoo, Google Plus Pages, etc. Complete the listings in the 20 most popular ones, ensuring that your (NAP) name, address and phone numbers are consistent on all of them. If you spell out Avenue in one, do not use AVE. in another. Many directory links are treated like SPAM now, so they aren't giving your websites any credibility.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 5: Be Social</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Social media is the new trend. It can be time-consuming, but it allows you an opportunity to stay in touch with existing customers and also, attract new ones! Begin simply by setting up a Facebook page for your business and add content, news, links to other articles, etc., at least one time per week. Social Media isn't going anywhere soon, so don't let your agency get too far behind by not participating in this area where millions of Americans are having conversations!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 6: Install Analytics on your Website</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Google offers a tremendous tool to track your website traffic called Google Analytics. This tool allows you to see what keywords people are using when they find your website. If you find that your website isn't getting much traffic, this tool can help you fine tune it so that you can capitalize on search traffic. Furthermore, Google has a keyword tool so you can search for terms before optimizing your website. If you hired someone for step 2, they should have taken care of this!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Step 7: Send out Electronic Agency Newsletters</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The number 2 reason that customers leave their insurance agent is because they haven't heard from you! Stop attrition in its tracks by communicating with your clients about new products, new team members at your agency, local events, a local charity you're working or any other news. If you're not communicating with your existing customers, someone else is. Electronic newsletters cost about $.02 per email. Most agency management systems and some carriers can help you sort your collected email addresses. If you have a larger budget, around $1,000 per mailing, consider mailing a quarterly newsletter. A couple of email service providers to consider are: MailChimp and ConstantContact.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-43770265821077005162012-01-11T20:25:00.000-08:002012-11-09T20:26:07.690-08:00How a Commercial Insurance Broker Can Help You<br />
<div style="text-align: justify;">
Insurance brokers have become increasingly more important today compared to many years back. Given the heavy loads of competition in the California insurance market, customers should be kept well-informed so that they won't be led astray into getting frivolous deals. Most especially in the aspect of commercial insurance, entrepreneurs are usually better off with brokers beside them.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
What is a Commercial Insurance?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Commercial insurance is just an insurance to protect businesses in the state. It is considered as one of the most vital investments for business operators. Depending on the specific type of commercial insurance, this security protects various aspects of the business. It can provide financial security in times of theft, liability, property damage, work-related employee or customer injury and even during times of business interruption. Those who have not secured insurance for their business are at risk of sudden financial depression. It has also been observed that uninsured businesses place the personal assets of the owner at risk.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Before setting out for an insurance hunt, make sure that you are already equipped with ample knowledge of what you really need. For example, you may be better with one specific type of commercial insurance, rather than having all forms of commercial insurance in one package. If you don't have company vehicles for operating your business, you can do away with auto insurance and just go for property insurance instead. But you still need to know everything about these specific insurances because nobody is certain when your business might expand. Together with this growth is an expected change in insurance needs.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Looking For an Insurance Broker</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Finding the right commercial insurance in California involves tapping the services of a trusted insurance broker who, as much as possible, is specializing in business insurance. It is important that you interview more than two brokers and check who among them makes you more at ease when it comes to dealing things. It is expected that he discusses the different options that surround commercial insurances.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
As there are various classes of business insurance, your broker can guide you through the entire process. Using his expertise, he can easily recommend the most suitable plan for your immediate needs. A good place to start looking for brokers is the Internet. If not, search for them via networking organizations for local businesses. Your friends in the industry or business advisers may also refer you to seasoned brokers in the state.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Insurance brokers are in place to make it easier for business owners to get the right insurance. However, even with their ability, it may be difficult for some to get one most probably because of their company background. For example, if the business has already suffered some degree of loss in the past then it may be considered a high-risk entity. This means most insurers will back out from making any deals with you. Another reason for the increased difficulty in procuring commercial insurance is the owner's history of making frequent claims, which easily makes him a liability. In addition, new businesses will surely have a harder time getting insured because of not having a proven history of business sustainability and strength compared to more established businesses. Still, business owners have higher chances of sealing the best deals with a broker nearby.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-41681231683996014462011-12-27T20:23:00.000-08:002012-11-09T20:24:09.854-08:00Getting the Right Level Of Critical Illness Cover For You<br />
<div style="text-align: justify;">
Taking up critical illness cover provides you with piece of mind. If the worst should happen, and you are diagnosed with one of the recognised serious illnesses, then your policy can pay out a monetary sum to cover both the initial expenses relating to your treatment as well as the ongoing costs incurred during your recovery.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
However many people grossly underestimate the amount of critical illness cover they really need. Though you may consider that if you were ill you would only require your policy to cover any loss of income you incur, consider all the other activities that you carry out which someone may need to do on your behalf.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If you are a parent, then it may be the case that you will no longer be able to care for your children or take such an active part in their lives. If you want to ensure that your kids have as much stability and continuity as possible when you are ill, then you may need to find additional funds to cover childcare, transportation and even residential care should you need to spend some time away from the home for treatment.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For those that live alone or do not want to put the onus of nursing on a loved one, critical illness cover may also need to help with the financial cost of housekeeping, basic laundry and even personal care when you are unable to support yourself.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Once you have recovered from your illness, it may be necessary to change your lifestyle to ensure a continued and healthy future. If this means reducing your hours at work, transferring jobs or completely changing your career, the financial implications can be immense but the right critical illness cover can help.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
An individual is five times more likely to rely on critical illness cover than the standard life cover taken up with the average mortgage. And though taking the first step in acquiring critical illness protection is a great way to start, ensuring that your cover is going to be sufficient when your situation changes is essential for your ongoing peace of mind and the security of your family.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Conversely there also a number of people who hold critical illness cover above the level that is strictly required. Individuals who have been oversold this type of protection will pay out higher premiums than they really need to, increasing their monthly costs unnecessarily.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Critical illness cover is a relatively cheap type of insurance and getting the cover right is essential to ensure you have everything you need if the worst should happen without surplus monthly costs that could affect your situation today.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
To make sure you have the cover appropriate to you and are not either under or over insured, talk to an independent insurance broker about your needs and personal situation. They will be able to provide experienced and professional advice to ensure that you have the protection to keep prepared no matter what hurdles life may throw your way.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-26248561206698403702011-12-12T20:22:00.000-08:002012-11-09T20:22:23.845-08:00 Make Sure You Help Your Clients Get Prepared<br />
<div style="text-align: justify;">
Fall is here! That means it's time to consider all of your clients whose business insurance policies are coming up for renewal at the end of the year. It's important to reach out now and help your clients not only renew their policies, but ensure that they have the right coverage, taking into account any changes that have occurred to their business over the past year.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Rule #1: Don't take any renewals for granted</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Just because you sold a policy to a business client, there's no assurance they'll automatically renew. More than ever, businesses are looking for quality and service - and this time of year, your clients are being pitched by other agents promising better quality and service than you can provide. (You know this is true, because you're probably making the same pitch to other agents' clients right now.)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The good news? You have the advantage with your clients because they already know you and trusted you enough to purchase a policy. Being proactive now will help you maintain (or expand) your business with existing clients, as well as assure them that you are looking after their changing insurance needs.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
And remember: No matter how much effort it takes to reach out to your existing clients, it's always easier (and cheaper) to keep a client than to find a new one!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Rule #2: Help your business clients analyze their coverage needs</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Prepare a year-end checklist to help you and your clients review any changes to their businesses and how those changes affect their insurance needs. Changes to discuss with your clients include:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Revenue: If a client has experienced revenue growth in the last year, offer your congratulations - but remind him or her that the company's level of insurance may need to be revised to protect their revenue stream.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Equipment and inventory: Yearly variations in the amount of equipment a business owns and uses - as well as the amount of inventory it maintains - are crucial in determining the proper level of business insurance coverage. Increases generally require more coverage to fully protect a company's assets, while decreases can allow a business to reduce coverage and redirect cash flow to other business needs.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Employees and payroll: Changes in payroll have a significant effect not only on business and general liability coverage, but workers' compensation coverage as well.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Government regulations: Make it a point to stay informed about regulations that affect your clients and their insurance needs.</div>
<div style="text-align: justify;">
Always keep in mind that, when appropriate, helping clients save money on insurance is a great way to build trust over the "long haul" - which can lead to many more renewals.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Rule #3: Help your clients understand new trends in business coverage</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Are there areas of risk that, due to changing technology and other factors, your clients need to consider? For example, "data breaches" where confidential information is compromised are a threat to just about any company, large or small. This could happen if a laptop is stolen or confidential papers aren't properly shredded. Data breach coverage is one emerging area of business insurance that many of your clients should be considering.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Rule #4: Think long term!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For most agencies, long-term, loyal clients are the backbone of their businesses. Treat them as such, and you'll have a successful renewal season - not only this year, but for years to come.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-478797702595067372011-11-22T20:20:00.000-08:002012-11-09T20:21:05.511-08:00How Will Health and Life Insurance Brokers and Carriers Survive <br />
<div style="text-align: justify;">
For decades the Health and Life (H&L) Insurance Markets - Including the Insurance Carriers, Brokers/Agents, and Service Providers - have reluctantly accepted change on an Evolutionary Basis. While competition was stiff, most parties were enjoying a stable and profitable marketplace utilizing the same basic: Plans, Programs and Services; Product Designs; and Marketing Strategies. Their Target Markets - Employers, Employees, and Individuals - were relatively complacent and satisfied with the limited information they were provided through Carrier's Media Promotions and the Brokers and Agents Knocking at their Doors.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Here is a sample of the Evolutionary changes that were reluctantly accepted by the Carriers and Brokers/Agents over the years:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
HMOs - Originally focused on promoting early detection and wellness.</div>
<div style="text-align: justify;">
Cafeteria Plans - Employers offering Employees workplace Benefit Choices.</div>
<div style="text-align: justify;">
Voluntary/Worksite Benefit Choices - Providing Employees the freedom of "Choice" at the own Discretion and Cost on a Payroll Deducted Basis.</div>
<div style="text-align: justify;">
Section 125 of the IRSC - Pre-Taxing Qualified Benefits making the Plans more affordable by reducing the bite of Income and Payroll Taxes.</div>
<div style="text-align: justify;">
Reimbursement Accounts - Medical, Dependent Care, and Transportation/Parking Plans that assist in reducing the cost of essential Plans, Products and Services for Employees. These are tax-advantaged plans.</div>
<div style="text-align: justify;">
Consumer Driven Heath Plans (CDHPs) - Health Insurance Plans that Promote and Support Employees and Individuals in becoming better "Consumers" of Health Care.</div>
<div style="text-align: justify;">
HRAs and HSAs - To Implement with the HDHPs providing a savings component to promote Consumerism.</div>
<div style="text-align: justify;">
HDHPs - High Deductible Health Plans that support the HSAs and HRAs.</div>
<div style="text-align: justify;">
Gap Plans - To assist in off-setting the Risk of High Deductible Health Plans.</div>
<div style="text-align: justify;">
Ancillary Benefits - Non-Insurance Based Employee Benefits that provide additional Employee "Choices" and often Reduce the Costs of Goods and Services for the Employees.</div>
<div style="text-align: justify;">
Wellness Plans - That benefit the Employers and Employees by improving Individual Health and in Reducing Health Care Costs.</div>
<div style="text-align: justify;">
For a number of reasons the days of Evolutionary Change are giving way to Revolutionary Upheaval! These include:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> Skyrocketing Costs for Health Care!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> Skyrocketing Increases in Health Insurance Plan Premiums for Employers, Employees, and Individuals!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> Disruptive Change promoted by Entrepreneurs and a Competitive Marketplace!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> The Internet and Search Engines providing Employers, Employees, and Individuals expanded access to Plans, Programs, and Services - as well as their Providers - on a more competitive basis.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> Social/Business Media Driven by the Internet is being utilized by Brokers and Carriers to cost-effectively reach Employers, Employees, and Individuals with information about and access to their Plans, Programs, and Services.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> Federal and State intervention with Reform - including PPACA, MLRs, etc.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
> Public Demand for Change!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
What are the Revolutionary and Disruptive Changes being faced by Brokers and Carriers?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Insurance and Benefits Industry Reform by Government - Federal and State intervention in the Insurance and Benefits Industries! Whether Obamacare or Romneycare - as they are amended - regulations are inevitable and will be extremely Disruptive!</div>
<div style="text-align: justify;">
MLR (Medical Loss Ratios) - in one form or another - will negatively impact on the compensation package for Brokers to hypothetically reduce the Premium Costs.</div>
<div style="text-align: justify;">
State and the Federal Exchanges - will become the access point for millions of U.S. Citizens for accessing Health Insurance Coverage.</div>
<div style="text-align: justify;">
Health Care Coverage Navigators - Internet Portals, Individuals, and/or Organizations providing information about the Exchange based Plans - with some method of compensation (probably not commission based). Navigators will provide the guidance required by Individuals, Employers, and Employees to make their Health Plan Coverage decisions.</div>
<div style="text-align: justify;">
Insurance Carriers, Brokers, Large Employers, and Third Parties will develop Private Exchanges including: Mandated Plans; Innovative Plan Designs; Self-Funded Plans; HDHPs; HRAs; HSAs; Gap Plans; Voluntary/Worksite Plans; Ancillary Plans; and more - all on a Defined Contribution (DC) Platform.</div>
<div style="text-align: justify;">
Technology Companies Providing Platforms for Private Exchanges and Defined Contribution Models will become the hub for Carriers, Brokers, Employers and Employees for providing and accessing Plans, Programs, and Services.</div>
<div style="text-align: justify;">
Companies Providing Education, Communication, Enrollment, and Data Management Capacities will integrate with the Technology Companies to better accommodate Private Exchanges and Defined Contribution.</div>
<div style="text-align: justify;">
Insurance Carriers will "Mass Customize" Plans and Programs - that are in compliance with the Federal or State Mandated "Base Plans" that will provide additional coverage for those who desire and can afford a more robust Health Insurance Plan.</div>
<div style="text-align: justify;">
Voluntary Benefits and Ancillary Benefits - will continue to dominate the Insurance Markets as all Benefits and Insurance Plans become Voluntary within Private Exchanges within a Defined Contribution Strategy.</div>
<div style="text-align: justify;">
Broker Commissions - will continue to be reduced by Carriers for the Health Insurance Plans based on MLRs.</div>
<div style="text-align: justify;">
The Internet - will become the Distribution Channel of Choice for Carriers attempting to replace Brokers as the direct contact with Clients and Potential Clients.</div>
<div style="text-align: justify;">
Social/Business Media - will continue to grow in importance as the interface between Carriers and Brokers with potential Markets - Employers, Employees, and Individuals.</div>
<div style="text-align: justify;">
Brokers Compensation Models Will Change - they will be forced into "Fee Based" Compensation replacing the traditional "Commission Based" Models. Employers, Employees, and Individuals who need assistance in making decisions about Insurance and Non-Insurance Based Plans, Programs, and Services will pay Fees to Brokers for their assistance.</div>
<div style="text-align: justify;">
Employer's Participation in offering Benefits - will utilize Private Exchanges and Defined Contribution (DC) Strategies to continue to offer Employee Benefits and remain Competitive.</div>
<div style="text-align: justify;">
Brokers Will Leave or Change Their Industry Focus - many experienced Health Insurance Brokers will not be willing to accept change or have the flexibility required to survive - they will retire or go out-of-business.</div>
<div style="text-align: justify;">
Consolidation of Mid-Sized and Larger Brokers - as Brokers shift from Traditional Norms to delivering Benefit Packages based on Private Exchanges, Defined Contribution (DC), and a Fee Based Compensation Model, many Organizations will Partner, Acquire, or be Acquired to remain Competitive.</div>
<div style="text-align: justify;">
Consolidation of Insurance and Benefits Carriers - as they seek to leverage their Assets, Merge Client Bases, Reduce Marketing and Advertising Costs, and Strengthen Balance Sheets they will Merge.</div>
<div style="text-align: justify;">
Employers, Employees, and Individuals will Gain Control - they will be more demanding of Carriers and Brokers to provide Plans, Programs, and Services to meet their needs within a framework of Private Exchanges and Defined Contribution Strategies.</div>
<div style="text-align: justify;">
Government Entities at the Federal and State Levels - will continue to increase their control of, and participation in, the Insurance and Benefits Industries.</div>
<div style="text-align: justify;">
A Single Payor System and Nationalize Healthcare - will continue to be the ultimate goal of the Congress and Federal Agencies.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0tag:blogger.com,1999:blog-3805233244063960313.post-70388687668068134632011-11-02T20:18:00.000-07:002012-11-09T20:18:46.537-08:00Why Insurance Agents Should Have a Dedicated Web Site<br />
<div style="text-align: justify;">
Visitors expect it</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The ever expansive attributes of the web have made it more or less mandatory for serious business professionals to host their own sites. People often tend to search on the net first to look for insurance related information. If they cannot find your site, they would invariably end up looking for information from a competing agency. Also in many cases customers decide to directly contact the agent only if they are happy with what they have just read on the site. Hence it is crucial for all agents to have their own web site so that all potential customers can be properly routed to them.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
They are more professional</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Even if the agent works from a condo, a good looking site will lend you an air of credibility that can do wonders for business. People often have a tendency to assume that a good looking and well informed site correlates to a big and professional insurance firm. Having your own insurance site has another added benefit as well. You can have your e-mail id extensions with your url ID rather than using regular service providers like Gmail or Yahoo. These small details go a long way towards building your credibility as a reliable insurance agent.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Increasing relevance of buying insurance online</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It is way easier for users to buy insurance policies online compared to having to run up and down various agencies. There are several insurance sites on the net that cater to specific geographically marked states and cities which makes it highly convenient for users to get quotes and other information. They can then compare this with what is being offered by other competing agencies and make informed decisions based to that effect.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Your competitor has a site</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
All insurance companies have realized the need and the scope behind hosting a well developed site on the internet. The more you delay, the better the chances of your competitors towards acquiring a sizeable share of prospective clients.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Market expansion</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A website allows the agent to expand their opportunities and reach out to a wider audience. Put in some effort to develop key word rich content and market the site online using SEM techniques. This will help you rise up the ranks in search engine queries and will bring a considerable amount traffic to your site. You can have all the necessary contact information posted on the site so that the client can get in touch if they are interested.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Web sites that are quote featured enjoy greater flexibility and are more popular with users. It's easier to make comparisons with other schemes and the visitor does not have to download multiple documents which can become tedious and annoying to sit and sift through.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Social media integration</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It is easier to promote your insurance products on social platforms like Facebook, Twitter and LinkedIn. You can add your web site details which visitors or community members can check for reference. You can also start your own company profile pages which will give you more scope and exposure on these social platforms. Happy visitors can 'like' the web pages of your sites which further increase the influx of visitors to your web site.</div>
<div style="text-align: justify;">
<br /></div>
Anonymoushttp://www.blogger.com/profile/01718282492504488495noreply@blogger.com0