WINDSOR, Conn., Dec. 1, 2021—Total life insurance new annualized premium grew 18% in the third quarter, representing the third consecutive quarter of double-digit growth, according to LIMRA’s Third Quarter U.S. Retail Life Insurance Sales Survey. “Aside from last quarter, third quarter premium growth was at its highest level since third quarter 2007,” said John Carroll, senior vice president and head of LIMRA’s Insurance Division. “Overall growth was widespread with 65% of carriers, including 9 of the top 10 carriers, reporting increases.” Year to date, total new premium increased 18%, representing the largest growth recorded for nine months in 25...
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If you ask someone, “What does an insurance agent do?” you’ll probably hear something along the lines of “they sell insurance.” And yes, insurance agents and producers do sell plans to their clients. So it’s accurate, sure – but it’s not the complete truth about being an insurance agent. The qualities of a good insurance agent go far beyond selling. Insurance agents provide consultative services and work with clients including business owners and benefits decision-makers to develop the right coverage plans for each client’s needs. They educate, helping owners and employees wade through the sometimes intimidating world of insurance. They may be independent business owners themselves,...
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If you sell insurance, then you’ll agree there’s nothing worse than dealing with sales objections that stop you from writing a new policy. If you want to overcome this, then you’ve found the right article. Today, David Duford, the owner of BuyLifeInsuranceForBurial.com and the author of three best-selling insurance sales books, enters the Woodpecker blog to detail his word-for-word rebuttal scripts to defeat the top 10 most common insurance sales objections. #1 Objection: “I’m not interested.” When someone says “they’re not interested,” it’s usually early in the sales process. I call this a knee jerk objection. Do not take it...
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INTRODUCTION Selling insurance is a rewarding career path for many. If you’re thinking of entering the business, congratulations! The first step in any major career decision is considering if you have the qualities to achieve success. Is your personality a good fit for this industry? Do you enjoy building relationships with others? If you think you have what it takes (and we think you do!), here are your next steps! MAKING IT OFFICIAL Do Your Research First things first, you need to make sure you know all the requirements for becoming an insurance agent, or specifically how to become a Medicare insurance agent, before you dive right in. Each state has its own set of rules that you must...
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In one of the previous articles I have been discussing about 7 Critical Components Which Every Sales Managers Must Follow for Building an Efficient Sales Team. In that article I was explaining on the critical components to manage the sales team members to make them perform in sales. Current article is to focus on building a team from the scratch for selling insurance. In this article I will be explaining the important factors to be considered while recruiting and managing a new insurance sales team. Objective of this article is to share ideas on building team starting from hiring process. Distribution of Insurance is undergoing tremendous changes due to technology. Online distribution...
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Crop Insurance Sales Rabo AgriFinance LLC ("RAF") is a leading financial services provider for agricultural producers across North America. Solely focused on agriculture, RAF is part Rabobank, a global financial services leader offering wholesale, rural and retail banking services in more than 40 countries worldwide and one of the world’s largest banks, with over $650 billion in assets. Founded by Dutch farmers over a century ago, Rabobank remains true to our core mission: to create value for our customers, our employees, and the local communities where we do business. With over 40 offices across the U.S., RAF provides clients with knowledgeable local teams and exclusive access to...
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Selling insurance is not easy. Insurance companies face difficult challenges when attempting to attract and retain customers. Why? One big reason is simply that people hate researching, buying, and paying for insurance. According to a 2017 survey by the Huffington Post, respondents said they would rather give up their firstborn child than deal with their home insurer. While we can safely assume these respondents were joking, the sentiment is well taken. So, why do people hate buying insurance so much? Let’s take a look at what market research has to say about consumers and their distaste for insurance companies. Consumers Do Not Trust Insurance Companies As far as trust goes,...
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JCMR recently Announced Agricultural Insurance study with 200+ market data Tables and Figures spread through Pages and easy to understand detailed TOC on “Global Agricultural Insurance Market. Global Agricultural Insurance Market allows you to get different methods for maximizing your profit. The research study provides estimates for Agricultural Insurance Forecast till 2028*. Some of the Leading key Company’s Covered for this Research are PICC | Zurich (RCIS) | Chubb | QBE | China United Property Insurance | American Financial Group | Prudential | XL Catlin | Everest Re Group | Endurance Specialty | CUNA Mutual | Agriculture Insurance Company of India | Tokio Marine | CGB Diversified...
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A new market study is released on Global SME Insurance Market with data Tables for historical and forecast years represented with Chats & Graphs spread through 102 Pages with easy to understand detailed analysis. The study highlights detailed assessment of the Market and display market sizing trend by revenue & volume (if applicable), current growth factors, expert opinions, facts, and industry validated market development data. The research study provides estimates for Global SME Insurance Forecast till 2025*. Some are the players that are considered in the coverage of this study are AIA, AIG, AXA, Tokio Marine, Sompo, Allianz, CPIC, Samsung Life Insurance, PingAn, Chubb, Great...
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“The partnership brings together innovative life insurance products and a strong grassroots distribution network. Through this partnership, we can reach far more customers than we could independently,” says Anthony Miller, CEO of Simply. “While our direct online model offers cheap, easily accessible and dependable insurance cover, we recognise it’s not for everyone. For many people, the advice of a trusted advisor is helpful when buying life insurance or other financial products. There’s no doubt brokers reach many customers.” Simply shook up the local life insurance sector in 2017 when the company launched fully online life, disability and funeral combinations to the South African market,...
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