Many small business owners purchase business insurance policies through an insurance agent or broker. While insurance agents and brokers perform similar functions, there are some differences between the two. Except where noted, the following discussion applies to agents and brokers selling property/casualty insurance. Agent Versus Broker Agents and brokers act as intermediaries between you (the insurance buyer) and your insurers. Both have a legal duty to help you obtain appropriate coverage at a reasonable price. Each must have a license to distribute the type of insurance he or she is selling. Each must adhere to the regulations enforced by your state insurance department. Agents serve...
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Welcome to The Michigan Association of Professional Insurance Agents We are an association dedicated to the growth and perpetuation of its members as business professionals who meet the needs of consumers by marketing insurance products and services. Our members often represent multiple insurance companies. This enables them to provide options to insurance consumers in their area and throughout the state when it comes to coverage and rates. Our members are main street professional insurance agents who embody the entrepreneurial spirit of our great country. What does Michigan PIA do for members? As a member of Michigan PIA you can expect a range of benefits, including: For an explanation of...
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As an insurance agent, much of your time is spent advising your clients what coverage they need. But what about your own insurance needs? There are several policies you might want: Top of your list (which is why it’s top of ours) is errors and omissions insurance. Errors and omissions insurance You offer a professional service to your clients, right? They come to you for advice and trust it’ll be the right advice. Thing is, you may be a professional, but you’re still a human being. And humans make mistakes. You don’t want to think you might miss a renewal, or arrange the wrong policy, but it can – and does – happen. And if you or anyone working for your insurance agency,...
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How Insurance Agents Can Use Marketing Automation to Increase Leads For Insurance Agents, lead generation is top priority. Insurance Agents who worked in the days before the internet realize that the web has given them new tools that have dramatically changed the way that they can generate new customers and relate to existing clients. Of all the software available for Insurance Agents today, marketing automation software is among the most powerful. These new robust tools bring with them a revolutionary change that takes marketing, storing data, and using client information to a whole new level undreamed of not all that long ago. Marketing Automation for Insurance Agents Among the newest...
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LOS ANGELES, Aug. 23, 2020 /PRNewswire-PRWeb/ -- Car insurance agents are salespeople and their duty is to connect the potential customer to their respective insurance companies. Those who want to avoid dealing with the agent when buying car insurance can always get online quotes from https://compare-autoinsurance.org. Whenever working with an agent, it is important to ask the following: If the policy covers the minimum state requirements. A good agent will have no problem providing this info. They will tell if the policyholder has the minimum coverage requirement. If not, the agent will recommend the client extra coverage. Available discounts. The agent should be able to provide a list...
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Los Angeles, CA (PRWEB) August 23, 2020 Car insurance agents are salespeople and their duty is to connect the potential customer to their respective insurance companies. Those who want to avoid dealing with the agent when buying car insurance can always get online quotes from https://compare-autoinsurance.org. Whenever working with an agent, it is important to ask the following: If the policy covers the minimum state requirements. A good agent will have no problem providing this info. They will tell if the policyholder has the minimum coverage requirement. If not, the agent will recommend the client extra coverage. Available discounts. The agent should be able to provide a list with all...
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An official website of the United States government Federal government websites often end in.gov or.mil. Before sharing sensitive information, make sure you're on a federal government site. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Occupational Employment Statistics Occupational Employment Statistics Occupational Employment and Wages, May 2018 41-3021 Insurance Sales Agents Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company. National estimates for...
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Many feel that insurance agents and other intermediaries don’t share enough information, don’t give sound enough advice and perhaps don’t know enough to provide the clarity we need to buy insurance. The point is, you should do your research yourself and only then bring an intermediary into the picture. Take the process of buying a policy. We recognise the need for insurance, but feel anxious and out of depth while buying it. Maybe, because the product is complex with a lot of legality and legal language involved. Perhaps, it is because the product itself is intangible and it is uncomfortable to contemplate loss or death. Reluctance to buy All this ends in a reluctance to buy insurance and...
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The fundamental economics of the global life insurance industry are broken, with distribution consuming an increasing share of the industry’s total economic value, particularly compared with customers’ declining share. After decades of limited innovation, traditional distribution is on the cusp of meaningful change—especially in the agency channel—which will unlock benefits for all stakeholders. This is the conclusion of a joint BCG/Morgan Stanley report, Reinventing Life Insurance Agency Distribution Globally. Of course, transformational change is not so easy to accomplish. Agents have historically been resistant to change, significant amounts of technology and innovation are required,...
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The MarketWatch News Department was not involved in the creation of this content. Jul 27, 2020 (AmericaNewsHour) -- The report covers the forecast and analysis of the insurance broker and agents market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the insurance broker and agents market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the insurance broker and agents market on a global level. In order to give the users of this report a...
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