https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/1318/COLLECTIONS/
... Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Collections 4/30/2013 10:38:09 PM by CompleteMarkets Editor This content has not been rated yet. COLLECTIONS The purpose of a collection system is to collect money owed to the agency without alienating the insured. In this section, we will answer the following questions: Who should do the collecting? What are the steps to developing an effective collection system? When should you collect ... Why must every agency set a goal concerning collections? OVERVIEW Who Should Do the collecting? One staff person should be responsible for the collection system. This person should be the bookkeeper, financial manager, or another individual in the accounting department. Do not involve the producer in collecting unpaid premiums. A producer cannot be the good guy' who develops a friendly relationship with the insured and then the bad guy' at collection time. What Are the Steps to Developing an Effective Collection System? 1. Appoint a responsible collection manager. 2. Establish a list of key accounts (the agency's largest and best accounts), which are not subject to automatic collection rules. These accounts receive special attention by telephone from the collection manager. 3. Establish an agreement with CSRs and anyone who processes ...
https://completemarkets.com/Article/article-post/1318/COLLECTIONS/
... x No Thanks Loading.. Collections 4/30/2013 by CompleteMarkets Editor This content has not been rated yet. COLLECTIONS The purpose of a collection system is to collect money owed to the agency without alienating the insured. In this section, we will answer the following questions: Who should do the collecting? What are the steps to developing an effective collection system? When should you collect? Why must every agency set a goal concerning collections? OVERVIEW Who Should Do the collecting? One staff person should be responsible for the collection system. This person should be the bookkeeper, financial manager, or another individual in the accounting department. Do not involve the producer in collecting unpaid premiums. A producer cannot be the good guy' who develops a friendly relationship with the insured and then ... bad guy' at collection time. What Are the Steps to Developing an Effective Collection System? 1. Appoint a responsible collection manager. 2. Establish a list of key accounts (the agency's largest and best accounts), which are not subject to automatic collection rules. These accounts receive special attention by telephone from the collection manager. 3. Establish an agreement with CSRs and anyone who processes new and renewal policies that a policy inception date cannot go by without a binder and a billing. 4. Proceed to get payment within 15 days of the renewal date, or issue a notice of cancellation directly to the insured (with the exception of previously agreed-upon key accounts) . Use either an automated aged-accounts receivable printout or your manual bookkeeping system. 5. Educate all producers, agency staff ...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/2394/Forms-And-Electronic-Standards-A-New-Relationship/
... parties don't provide value to the transaction as well, then the ultimate benefit to the insured is negligible. An example of this potential value can be seen in a friend's recent experience. This person had an opportunity to start a home-based business, and visited his local bank to open accounts and obtain financing. To his surprise, this bank had established a relationship with a local independent agent, who collected the information necessary to obtain a quote on a home-based business program. Before his accounts were even opened, my friend had been given quotes from two insurance companies. Research shows that the potential for success of banks involved in the P/C insurance process is high-their customer knowledge is certainly conducive to cross-selling. Only one thing is certain, however: Any advances on this relationship will mean nothing ... Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Forms And Electronic Standards: A New Relationship 4/30/2013 12:00:00 AM by CompleteMarkets Editor , Martin Taylor This content has not been rated yet. Headlines in trade magazines and major newspapers announce thrift charters being approved for insurance companies, agreements being reached between federal bank regulators and state insurance departments, and financial services reform. In many ways, banks continue to increased their involvement in the Property/Casualty insurance market. Although consumers can benefit from this trend, it's important that all state and federal regulators be involved in this process. The ultimate goal, after all, is to protect consumers while creating a marketplace ...
https://completemarkets.com/Article/article-post/1098/HARD-MARKET-SHENANIGANS/
..., which can result in gross underinsurance of other property — and it de...ake the matter to the department of insurance and call for a public hearing. I...
https://completemarkets.com/Article/article-post/2760/Life-Insurance-Without-a-Medical-Exam/
Life Insurance Without a Medical Exam
These days, securing life insurance for yourself or your family is a c...ome increasingly popular among life insurance consumers.
Whether you are look...
https://completemarkets.com/Article/article-post/932/DEVELOPING-BROKER-SERVICES-AGREEMENTS/
...nership. For many businesses, insurance represents a substantial percentage...oker other than the placement of an insurance policy. A formal agreement docum...
https://completemarkets.com/Article/article-post/2564/Its-a-Small-World-Doing-Business-Abroad/
...ness Abroad
The international insurance market offers a variety of benefits... of the action in the international insurance market:
Target your existi...
https://completemarkets.com/Article/article-post/2797/How-Quoting-Process-Automation-Solution-for-Insurance-Accelerates-Sales/
... Process Automation Solution for Insurance Accelerates Sales
Quoting is the lifeline of modern insurance operations. It acts as a vital brid...ve many problems that have bothered insurance providers for years. Data become...
https://completemarkets.com/Article/article-post/2803/Why-Your-Insurance-Claims-Management-Software-Is-Your-Most-Underrated-Retention-Tool/
Why Your Insurance Claims Management Software Is Your ...to competitors.
The choice for insurance leaders is simple. Keep treating...
https://completemarkets.com/Article/article-post/2150/WHEN-CLAIMS-PRACTICES-FAIL/
...ure as a lobbyist for the Texas insurance industry, state lawmakers passed a ...licyholders who assert claims under insurance contracts. In my experience, th...