Industry must stop expense-shifting game
Article Abstract:
The insurance industry has been reducing expenses in the 1990s, but often the reduction amounts to an expense shift that will eventually return. Insurers and agents have been trying to meet short-term profitability goals by shifting business expenses onto each other with little long-term gain. The health of each segment of the industry depends on that of the other, so this shifting is counterproductive. Many companies have also tried and failed to reduce expenses through automation because they did not solve basic business problems first.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Large-account strategies working on Main Street
Article Abstract:
Independent insurance companies are expanding into alternative market services in order to remain competitive in a highly competitive market. About 50% of independent firms now offer customers help in entering alternative-market insurance strategies. Industry observers are seeing a lot of alternative risk transfer activity among agents. Alternative market mechanisms include risk-purchasing groups and risk-retention; advising on increasing policy deductibles or retrospective rating programs.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Update delivery to gain direct marketing success
Article Abstract:
Insurance companies have started direct marketing their products through computers in the 1990s. To take advantage of this trend, insurance companies must have computers that communicate with different types of suppliers, process data and present the data in a workable manner. Direct marketing is a powerful tool when used correctly.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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