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...t's important to understand the differences before choosing a policy. One of the key benefits of cash value life insurance is that it provides permanent coverage, meaning that the policyholder is covered for t...rs should also be aware of the cost of insurance and the rate of return on the...

What the Best Insurance Policy Administration Software Gets Right About Claims
For years, insurers have treated claims like the payo...claims become disconnected from everything that came before it. For insurance executives weighing their next technology investment, that's the distinction worth paying attention to.

...solvent. CULTURE CLASH Cultural differences play a key role in the failure of ...oth agency and bank. The next article in this series will focus on implementing the bank-agency operation.

... most of the businesses and clients they insure. They spend a great deal of time and effort on growth plans and marketing. Would a benchmark or average sale price of agencies apply to both (or either) of these businesses? The valuation of an insurance agency differs from that of a commercial building or a service business, such as a dry cleaner. Although changing conditions might render common methods of valuing the building or dry cleaner invalid under certain circumstances, most buildings and businesses of the same type are relatively stable and enjoy ... with similar operations. However, insurance agencies differ so widely from one another that industry averages provide only a point of reference, not a measurement tool. Let's take three agencies, each with $1 million in revenue. One is a P/C agency insuring primarily Personal Lines, with 1,000–1 ,500 small-premium customers renewing annually. Another is a Life agency that must continuously sell new business to maintain its revenue level because renewal commissions are small and of limited duration. The third is a specialty ... 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 Valuing Insurance Agencies 4/30/2013 12:00:00 AM by Al Diamond , CompleteMarkets Editor This content has not been rated yet. One Time, One and One-Half Times, Two Times. Multiple of Commissions, Multiple of Revenues, Multiple of Earnings. ...

...iliarity. Customers accept rate differences when understanding the reasoning. This creates retention advantage comp...pect it. Technology is proven. The remaining question is internal: Which insurers will lead this transformation?...

Life Insurance Without a Medical Exam
These days, securing life insurance for yourself or your family is ... your current life situation and determine if this is worth the time and mone...

...tional note related to cultural differences, 99% of all agents would write-off these finance charges and any producer I’ve ever met would be insulted, embarrassed, and angry if their insurance customers received such charges ... not an expense, what are they?' The final article in this series will focus on the attrac...

Valuing Insurance Agencies
One Time, One and On...ity payout for tax and estate reasons. Including agencies such as these (and many other non-standard situations) in “industry averages” skews the results be...

... written premiums Consistently under-reserving on claims and/or a slowdown in claim payments Overall deterioration in service, especially when accompanied with a slowdown in processing return premium endorsements and audits Sudden increased attention paid to prompt collection of current accounts Frequent changes in reinsurance carriers Increase in accounting differences because the company is charging for policies that they haven't yet issued Extensive changes in the agency force (a large number of either appointments or terminations) . Sudden withdrawal from a territory or line of business or sudden entrance into lines or territories that other companies are ... &O suits resulting from the carrier's financial difficulties. In the past 30 years approximately 650 P/C insurance companies have disappeared due to financial difficulties. More than half of these resulted from deficiencies in loss reserves, often accompanied by rapid growth. Both of these conditions often result from inadequate reserving. Nearly 20% of these insolvent carriers had less than $5 million in surplus and many were heavily involved in Auto insurance. According to A.M. Best, inadequate reinsurance protection and recent changes in ownership caused 15% of the ... 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 Selecting Insurance Companies 4/30/2013 10:35:26 PM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. SELECTING INSURANCE COMPANIES Agents' Responsibility for Company Insolvency by Carol Hammes Beware these warning signs of carrier financial instability. Financial stability ...

...ent Increase in accounting differences (charging for policies they haven'...st year Standard & Poor's gave 133 insurance companies below-average ratings in Claims-Paying Ability, and they expect to continue downgrades in 1991. Insolvencies will continue to be of major and immediate concern for agents during the next several years.