A vital partnership

Article Abstract:

Managing general insurance agents can be utilized to good advantage by both insurers and independent agents. Managing agents serve as a liaison between insurers and agents in instances where a branch office network is absent. They provide underwriting, risk evaluation, marketing and claims-monitoring services, among other things. The very absence of branch offices is a cost saving for insurers. Managing general agents are invaluable to independent agents because the former are well-positioned to provide customized policies and support services.

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Hit the ground running

Article Abstract:

Insurance companies can no longer allow their agents to sell all types of insurance because of the increasing number of specialty coverages. The training of a new agent in a wide range of products entails a significant amount of time, money and effort. It is advisable to recruit experts in a certain field to shorten the time needed for the recruit to be trained. For example, a person from the petroleum industry can be easily trained to sell insurance for that industry.

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Is the small-town agency history?

Article Abstract:

Independent insurance agencies in small-town communities continue to register minimal growth and show little indication of either going out of business or being absorbed by banks. Some of these small agencies do not earn more than $150,000 in revenues and have been in business for several years. They usually offer about 9% life/health insurance, 33% commercial and 53% personal. These agencies do their marketing by word of mouth or by referral.

Community, Independent insurance agents

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