Choosing a competitive advantage
Article Abstract:
A rapid increase on the number of competitors have forced some insurance agency to adapt alternative modes of product distribution with a goal of finding an edge over the other competitors. Agency management will have to formulate strategic plan and this involves a thorough reassessment of the values and demands of their customers. Agencies may capitalize on the development of strategies that would tag them as providers of value and quality assurance in the form of expertise about what product and services are most appropriate for specific situations.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Up close and personal will always have its place
Article Abstract:
Insurance companies should realize that customers are taking a more active and informed role in their policy purchases. The trend means insurance is increasingly sought and bought by consumers instead of sold by agents. However, the relationships between agents and customers provide insurers with an advantage over other financial services firms that offer insurance. Insurers should draw upon the expertise of agents as they revamp their sales and distribution strategies.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Identifying key agents cuts carriers' costs
Article Abstract:
Insurance companies should pursue agent profitability not productivity in their effort to keep their competitive edge. Many companies lose millions of dollars by supporting insurance agents that are not profitable. By finding new agents and establishing standards for severing relationships such as through a probationary period, companies can redirect their resources to protect their share in the financial markets.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1996
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