https://completemarkets.com/Article/article-post/2141/E-O-IN-COMMERCIAL-AUTO/
...dius of operation? Is there a hired/non-owned exposure? The symbol on ...8220;7” (specifically described autos) with the agent’s approval. ...
https://completemarkets.com/Article/article-post/2211/PAUL-T-MURPHY-INSURANCE-WITH-A-LITTLE-HELP-FROM-HIS-FRIENDS/
... out that it wasn't bragging. It was telling our story. We do offer great service. We do go the extra mile for our clients. To do this, we needed to have someone on staff who would make certain that our story went out to clients and potential clients through all the social media available to us. Tim came through again, ' Paul continues. He recommended that we hire a blogger who was young and understood social networking. We knew a bright, young talent, William Bernardinelli, or Billy the Blogger' as we call him. He is the son of one of my best friends and had worked here part time in the summer and after school. Now he's with us full time and is responsible for keeping our message out in front of the public. ... started selling Life insurance, but quickly moved to Property/Casualty, which was a better fit to his personality. He established Paul T. Murphy Insurance Agency, Inc., in his home town of Malden, Massachusetts, a suburban town four miles north of Boston. Most of his business came from Personal Lines in a state that, at the time, was notorious for having the highest Auto insurance rates in the country. (In some years, New Jersey competed successfully for that honor.) The state set rates and company representation. An agent needed to learn 12 coverages and there was no concern about discounts. There really weren't any. You could combine the coverage with Homeowners and a Personal Umbrella, and the insurance company would say, Thank you very much' and add ...
https://completemarkets.com/Article/article-post/979/PERSONNEL-AND-COMPENSATION-DILEMMA/
... larger starting salaries. How does the average independent agency or insurance company compete with such immediate riches and the opportunity for even greater rewards in the future? Unfortunately, the diminishing pool of viable candidates has come at a time when the independent agency system needs intelligent, energetic, automation-savvy people. In some parts of the country, agencies are so desperate for customer service representatives (CSRs) that they're hiring anyone who's breathing. Producers are brought in even though they score poorly on sales aptitude tests or have already failed at several other agencies. Desperation will often cloud good business judgment, leading to bad hires. An empty desk is better than an employee who pulls down the rest of your staff, adversely affecting sales and productivity. FINDING GOOD CANDIDATES At this point, it's probably better to forget ... the $720,000 in producer-related commissions at 37% . This is the overall level that the agency can afford to pay producers. Generally, the range will be from 27% in agencies with heavy sales support services to 40% in agencies with only the basics. Note that if there's a change in the amount of house business, the targeted profit, expenses, or reimbursed travel, auto, or entertainment expenses, this percentage can be significantly different. Note also that with the exception of the amount allocated to management payroll, the agency principals' compensation has been included in this sales compensation calculation. In most urban agencies and even in many rural firms, the principals have decided to provide greater rewards for selling new business than for maintaining an existing book. Rather than pay 30 ...
https://completemarkets.com/Article/article-post/677/Boot-Camp-For-Insurance-Agencies/
... x No Thanks Loading.. Boot Camp' For Insurance Agencies 4/30/2013 by CompleteMarkets Editor , Dana Falardeau This content has not been rated yet. Why does the Army hire people with no experience? Could it be that they want to train them the right way at the start? Could it be that they can't afford to hire experienced soldiers for every new spot? Could it be that they have the right idea when they send their recruits through an intensive training program commonly known as boot camp? We are often disappointed when we hire experienced people from other insurance operations. Along with their experience comes a predisposition of doing things one way or another. The match might not be as good as you would like. Also, experience costs money! In today's leaner employment environment ... , time, and incentives! These necessities will help guarantee the success of the program. Boot Camp Essentials Scheduling is another important part of the planning process. Provide quiet time for the trainer and trainee-but set realistic time frames. Once time is allotted, organize the schedule with a list of goals, such as at the conclusion of six weeks, the trainee should be able to comparison-rate Homeowners and Auto coverages on the system. Obviously, the goals must be specific and measurable. Benchmarks must be established for review by the trainer and the manager. The trainer and trainee should meet every Friday to discuss the activities of the past week. The manager should meet with the trainee every two weeks to assess the quality of the training program. Provide the trainee with a training manual, which might be ...
https://completemarkets.com/Article/article-post/2574/Sample-Presentation-Package/
... million per Accident
Includes Hired and Non-owned Auto Liability Coverage...
RECOMMENDED OPTIONAL COVERAGES
HIRED AUTO PHYSICAL DAMAGE
...
https://completemarkets.com/Article/article-post/620/The-Facts-Of-Life-About-Personal-Lines-And-Having-A-Well-Trained-Staff/
...urance agency staffs. We've always hired for presumed insurance knowledge-rare...
https://completemarkets.com/Article/article-post/1717/ESTABLISHING-A-TELEMARKETING-DEPARTMENT/
... x No Thanks Loading.. Establishing A Telemarketing Department 4/30/2013 by CompleteMarkets Editor This content has not been rated yet. &# 160 ESTABLISHING A TELEMARKETING DEPARTMENT You need to make two more decisions once you have definitely decided to set up a telemarketing unit within your agency. The first is whether your system will be automated or manual. The second is the number of telemarketers you will hire. Automated or manual? This decision will greatly affect your budgeting, hiring, training, and monitoring efforts. Currently there are several software systems on the market designed to automate your telemarketing system. The software performs many functions for your telemarketers. The simpler systems store prospecting information; more complex ones may track every telephone call from the first dial to the sale. You can monitor how many ... device that dials either pre-programmed or randomly selected numbers (within a certain area) . The machine plays a pre-recorded message asking for an X-date or appointment, then allows time for the prospect to leave a message. Although this may seem too high-tech without any high-touch, these systems have worked for agents. One IMMS member agent had to disconnect such a machine after a few weeks because he had more Auto X-dates than his staff could handle. But most agents will choose the more conventional approach and hire people to do the agency's telemarketing. Here's a method for calculating how many people you'll need: 1. Determine the size of your marketplace. For example, say you want to contact 20,000 clients or prospects. 2. Now, figure there are 260 working days in the year, ...
https://completemarkets.com/Article/article-post/1473/PRODUCER-CONTRACTS/
...ONTRACTS Before new employees are hired into the agency, some sort of underst...
https://completemarkets.com/Article/article-post/639/Marketing-Opening-New-Territories/
... budgeted expectations. Whether you use a professional to facilitate the planning process or do it yourself, the first step is to get started! Success breeds success. Once you realize the effectiveness of this business tool, you'll give the planning process a key role in growing your agency. Opening New Territories We often encounter agents whose growth goals require them to penetrate new geographic territories. They open offices, hire or move employees, and expect business to flow in. Unfortunately, many of these ventures can't make headway against local agents who've had years to cultivate relationships in the local community. Agents who succeed in entering new markets employ a success template' that includes a Familiarization Campaign, Targeting Centers of Influence, and Focused Target Marketing. The best time to move into a territory is when the local ... a local address will add credibility to any new business. Because the deadline for entry into telephone books is often three or more months before publication you'll need a location and telephone number by then. However, don't make the telephone book the main factor in opening a new office unless you expect business generated from the Yellow Pages listing to account for a substantial percentage of your book (such as Non-Standard Auto) . FAMILIARIZATION CAMPAIGN Whenever someone sees the gecko on television they think of GEICO, even though most people don't know what GEICO stands for. When they see or hear a duck quacking in an ad they think of AFLAC (again, without knowing what AFLAC means) . These insurance companies have made the public familiar with their names — and, familiarization breeds sales: when consumers need an ...
https://completemarkets.com/Article/article-post/1403/FOR-THE-FUTURE-PRODUCER-RECRUITING/
... previous week. For every producer hired through this program, the referring a...