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Posts tagged with insurance carriers - insurance carriers

Riots, and Pirates, and Mayors, Oh My.

Author JasonJohnson , 8/21/2013
Riots in Egypt, Pirates in Somalia, and city officials in San Diego all with unusual risks that need underwriting.  Although this is less than 1% of the industry that needs to be shopping for insurance, it does raise the question, “Where do you go to find your clients hard to find coverages?”

A recent headline from www.businessinsurance.com titled “Egypt: Authorities in talks over expanding insurance cover against riots” discusses the role of insurance carriers insuring in an area struck by recent political instability and riots.  The article points out that only 3% of those affected are covered for this type of loss.  Maritime organizations have also felt the pressure of piracy on the high seas.  Most carry tradition cargo insurance but now what about hostage insurance?  And finally, the beleaguered mayor from San Diego. Bob Filner.  For the 18th time an accuser has spoken out against the mayor’s alleged harassment while still in office.  Many companies have a policy for sexual harassment but how many carry insurance for it?

As the agent, you have to be prepared for any type of risk that your clients may need.  From your day to day policy to the unique.  CompleteMarkets has for years been known as the leading source for niche insurance carriers.  Today, CompleteMarkets is so much more than that.  It is still the leading internet site for niche insurance, but now you can also search our extensive library of premium content, connect with peers, and market your agency’s specialized business lines.

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The Internet, A blessing or a Curse?

Author JasonJohnson , 8/15/2013
When was the last time you spoke to your travel agent?  Have you bought a postage stamp lately? Paid a late fee at Blockbuster?  Things many of us did on a regular basis have been replaced with convenience. The Internet has saved so many of us the hassle of the middleman.  So my question is this, “How will the Internet change the way you sell Insurance?”

I recently had the privilege of reading an article by Allan Rosca entitled “Is the Internet About to Put Insurance Agents out of Business? (with the Help of the Insurance Companies)”  It sparked quite a lively debate with many pro’s and con’s as to how our industry will evolve or die.  Technology has saved countless hours of my day that used to be spent waiting for the mail to arrive, sorting it, distributing it and then reading it.   It has increased the productivity in our office and in our business.  But what about the agent that hasn't adapted to this change?  The Baby Boomers or the Generation X group of individuals that reluctantly have had technology forced on to them.  They look with bewilderment at why people insist that if they don’t have the latest iPhone or gadget they will lose money.

Of those people who own smartphones, a recent study concluded that 79% of people 18-44 have their Smartphones with them 22 Hours a Day. The study goes on to say that, “49% of the entire U.S. population uses a smartphone. By 2017, the percent of smartphone users is expected to reach 68%.”   Internet access is free at many of the highest volume retailers and restaurants in the country.  Trying to find a place without Internet access is now the problem.  So as insurance agents how do you compete with a clicks -vs- brick industry?  What is your competitive advantage or value proposition in today’s economy?  One way to stay competitive is to connect differently than a decade ago.  Gone are the rolodex and stack of business cards in the drawer.  Today you have networking tools such as, social media, company websites, and email.   CompleteMarkets combines all these resources into one network.

Members of CompleteMarkets can search Insurance Carriers for difficult markets, send email campaigns, create storefronts, track leads, and access hundreds of articles from our library.  Free registration entitles the member to a convenient way of connecting with the people they do business with in a community that was created just for the insurance professional.  Other networking sites are specific to the interests of their members.  Facebook is a great place to see photos and update family and friends on your relationship status.  They are the leading social site.  LinkedIn has revolutionized the business networking community and has connected millions of users within their respective community interests.  But it lacks the ability for direct ecommerce.  It is also becoming “too big” or difficult to navigate due to the high number of users cluttering the groups and posting distracting content CompleteMarkets was designed specifically for agents who want to directly find quick results.  The peer to peer networking and social groups and discussion boards allow members to get advice or post content for others to comment on.   The searchable library offers informative articles written specifically for insurance agents who want to learn more about their industry.

Don’t get discouraged by the Internet.  Embrace the technology and find ways to incorporate it into your business plan.  The insurance industry is changing.  You either grow with it or you go.  CompleteMarkets is here to help you every step of the way.  Be the first in your office to unlock the secrets to success and become the “Go To” guy/gal for your specialty.

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