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Historically, a hard market is part of the cyclical nature of the insurance industry. At one time, these cycles occurred fairly consistently at about seven year intervals. However, the last significant hard market came in the mid-80s.
A hard market is characterized by increasing rates and/or reduced industry capacity, which leads to affordability and/or availability problems. In addition, both underwriting and claims adjusting usually become more stringent. In the current marketplace, these conditions are exacerbated by increased uncertainty about such loss exposures as terrorism, mold, etc., and by a reinsurance market significantly strained by the events of September 11.
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This article should challenge your thinking and management style and create new opportunities for you to build more Personal Lines sales. To improve your sales, your staff must change how they see themselves, develop their own reasons for doing what you want them to do, establish strategies to use the skills they already have, and adopt new ways of communicating.
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Many readers have been asking me for scripts that cover the first phone call to a new referral prospect. Obviously, this first call will vary greatly for a number of reasons: The nature of your business, the circumstances of the referral, and whether or not your client introduced you in some way — just to name a few.
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After an automated sales center is up and running, it's up to producers to act on the qualified leads that the sales center coordinator, assistant, and support staff have worked on.
Prospecting is an old term; replace it with "business development."
Business development requires a positive attitude, confidence, and discipline. The business development mind-set can be picked up by anyone who has a desire to step to the front line and just do what must be done. Commit to a business development plan of action, then organize and follow through.
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We Want You To Consider Buying Earthquake Insurance... Just To Make Sure You're On The Safe Side Of Financial Aftershock. Everybody's a buzz about...
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It's one of the oldest jokes in the world: How do you get to Carnegie Hall? The answer: Practice!. The punch line is obvious; however, so...