As an owner of a home, commercial building or property, the importance of obtaining an insurance policy cannot be overstated. In order to protect you from incurring the costs that will result from severe property damage, destruction of contents or a liability claim, property insurance is absolutely essential. Here, we look at four key advantages … Read more
1) Developing an omnichannel sales process Online shopping has changed consumer behavior and expectations. Today, people want to be able to research, explore, and purchase products and services across multiple channels including websites and apps. The same is true when it comes to the insurance industry where potential customers want the ability to research and … Read more
1 ESG/climate risk It’s been almost four years since the PRA outlined its expectations for climate-related financial risk management. Since then, we’ve seen significant natural disasters, including earthquakes in Turkey and Syria, floods in Eastern Australia, and Europe’s worst drought in 500 years. These aren’t only devastating on a human level, but also reflect the physical … Read more
Insurance agents face several challenges on a day-to-day basis. Here are five common challenges, along with impactful solutions to tackle them:
Build a Solid Foundation To rise above the competition, you need a thorough understanding of your target market, a compelling Unique Selling Proposition (USP), and evolving with trends. Enhance Product Knowledge and Expertise Did you know that 57% of insurance executives believe speaking to a knowledgeable, friendly sales rep is the best way to maintain customer loyalty? … Read more
These are the top five common insurance industry challenges brokers, agents, and claims specialists face today. 1. The rising cost of healthcare One of the biggest challenges for insurance professionals is the ever-increasing cost of healthcare. Health insurance professionals have come to expect premium prices to go up once renewal season comes around. The higher price tag … Read more
What is Insurance? An insurance policy is a legal agreement between a person (the policyholder) and an insurance provider. In accordance with this agreement, the policyholder pays an ongoing premium to the insurance company in exchange for financial protection against a calamitous event as specified in the policy document. For instance, the unexpected death of … Read more
Marine insurance is the type of insurance that covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Types of marine insurance There are three types of marine insurance which are; Why is it … Read more
Discovering how life insurance pays out provides clarity on the steps involved in securing financial protection for your loved ones. Here’s a breakdown of the process and the necessary actions: While the payout process is typically straightforward, delays may occur under certain circumstances, including: In such cases, the resolution may take additional time and involve … Read more
Disability insurance acts as a safeguard for your income, akin to insurance for your paycheck. It provides financial support if you’re unable to work due to illness or injury, ensuring you still receive a portion of your income to cover essential expenses. From mortgage or rent payments to utility bills and medical expenses, disability insurance … Read more