People often think change is expensive. But what about the cost of staying the same? When your business doesn’t invest in process improvements, including modern technology and automation, you run the risk of paying the price in the long run.
As carriers, InsurTechs and agencies drive more digitalization across the policy lifecycle, small commercial insurance is starting to look and feel more like personal lines.
Most insurance carriers offer to bundle two policies, but others offer true package policies. Although bundled and package policies seem similar on the surface, they are different.
For all the effort poured into growing a book of business and servicing accounts, surprisingly little time goes toward ensuring commission from those policies hits the general ledger.
People will choose the easy, straightforward process over the complicated and frustrating one every day of the week, so you need to provide a seamless customer journey. That’s why it’s time to invest in embedded insurance.
Rodriguez’ agency offers franchising opportunities to aspiring business owners with the entrepreneurial spirit. He also serves on the board of the Delaware Association of Insurance Agents & Brokers.
By: Volume: 120, Issue: 7
CompScience reduces workers comp insurance costs for businesses by limiting the probability of injuries.
Agents can work with contractor and subcontractor clients to help them better understand the steps needed to lower risk on the job site.
“There’s been over five consecutive years of underwriting losses in the aviation insurance market,” says independent agent Tim Bonnell Jr. “Premiums have been increasing and underwriting has been stricter.”