One of the reasons that the direct writers and internet-based companies do so much business is that the buying public feel that insurance is a commodity—we’re all the same and the price is the only differentiation. In an impersonal internet-based world in which texting replaces actual conversations this concept makes sense—until a sour experience with…
What does an agency sell? One might say an agency sells price. Fair enough. But what are they selling for price? An insurance policy? Any policy? Is whether or not the policy provides the coverages the insured needs secondary, to be discovered in court together? Is an agency selling insurance I.D. cards and evidences of…
We’ve been hearing about it for months now, about the allegedly very real possibility of a worldwide pandemic. Is the threat for real? And, if so, what have you done to prepare your agency to continue to operate in a highly infectious environment? If such an event occurs and impacts your business clients, are they…
This section of the VU offers tips, techniques and legal caveats that you can follow during the hiring process. Also discussed employee relations, licensing and more. Talent Recruitment and Development If you are looking to hire new staff visit Big ‘I” Hires.
Is it an E&O exposure for a licensed agent/CSR to review and sign applications for an unlicensed CSR? If you have a CSR who is not licensed mailing out endorsements to an insured, can he/she sign his or her name on the endorsement’s cover sheet? Or, is it better to be signed by a licensed employee? These…
Experienced employees gravitate to those areas for which their talents are best suited. Forcing CSR’s to sell, forcing salespeople to adhere to detail oriented efforts, and forcing management responsibilities on stockholders who have never been inclined to manage are counterproductive efforts. In this article, I’ll explain why you should not force a round peg into…
When I first started in this business, my employer required not only a coat and tie, but also a HAT! My how times have changed. In many organizations now, “business casual” is the order of the day. However, what constitutes “business casual,” like beauty is in the eye of the beholder. As a result, without…
We were recently asked our opinion about whether personal lines CSRs could also handle small business accounts written on BOPs. While some CSRs can make the transition, it is fraught with perils. Find out what the VU experts think about the realistic expectations of such a change.
An agency receptionist transfers phone calls, takes messages, opens mail, directs clients to CSRs, and accepts direct bill payments from clients. She allegedly does not discuss coverage with clients. Does she need to be licensed?
In my state, a manicurist has to complete 600 hours of classroom and supervised work experience to get licensed. An insurance agent? Put in 40 hours and you could be licensed to bid on General Motors’ account in the morning and Microsoft’s in the afternoon.
