Some Customers Aren’t Worth Doing Business With
It’s okay for customers to be misinformed or make a mistake. However, sometimes the customer is not only “not right,” they are abusive and disrespectful toward the people who are…
Agency Management
Overstock.com, Walmart, Insurance, Commodities, and Movies About Fictional Presidents
Walmart recently announced its entry into the auto insurance marketplace via online sales and store kiosks in selected states. Overstock.com may even sell small BOP policies. Have some types of…
Debunking Agency Multiple Valuations
If you have a valuation done on your agency, demand to see the actual work effort and the assumptions made by the appraiser as a part of the published appraisal.…
How to Create a Customer-Centric Culture
Creating a Customer-Centric Culture. That’s a lot of words that begin in C. Well, this article is about D’s, specifically the Six D’s of Creating a Customer-Centric Culture.
Keeping Auto Premiums Low by Failing to Disclose Teenage Drivers
As the commodity-pricing frenzy of auto insurance intensifies, you become aware of agents who are cutting premiums by deliberately failing to disclose teenage drivers and advising prospects or insureds that…
E&O Coverage for Non-Insurance Related Agency Services
Author: Bill Wilson “Do you have specimen wording that we can provide to our insureds to implement as a company policy requiring their employees to provide certain limits of liability…
McKinsey, Commodities, and the Death of the Independent Agent
A recent McKinsey report concludes that personal lines insurance, by and large, has become a commodity. It also questions the viability and value of the agent. This article excerpts one…
Customer Service May Rule But Rules in Customer Service Don’t
When it comes to customer service decisions, I can’t stand the word rules. You can throw the word policy in there too. A better word might be guidelines. Or, if…
Why Great Loss Ratios are not the Goal of All Insurance Companies
Many agency owners take great pride in generating low loss ratios year after year. These agencies are often small but very, very profitable. These agency owners are not happy with…
Is Insurance Knowledge Important?
What does an agency sell? One might say an agency sells price. Fair enough. But what are they selling for price? An insurance policy? Any policy? Is whether or not…
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