Carving a Niche in the Mature Market

Article Abstract:

The fifty year and over age group offers insurance companies profitable potentials in personal lines. Hartford Insurance Group with its new American Association of Retired Persons (AARP) endorsement started direct marketing of association members. Its AARP endorsed auto and homeowners policies beginning April 1, 1984 are expected to secure a major portion of the market. Sears Corporation has developed Mature Outlook Inc. and through it, plans to offer a variety of services including insurance. Mature Outlook will be similar in purpose of AARP. Sears is aggressively looking into other products for the mature market. Sears feels that seniors will have dual membership in AARP and Mature Outlook.

Planning

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A new way to deliver products

Article Abstract:

Distribution channels are the mainstay of the insurance business. Since these channels are often staffed by independent agents in a number of different locations, it is not surprising that they are susceptible to undermanagement. Insurers can avoid this problem by: combining brokerage and underwriting in a wholesale organization in order to increase market share, centralizing post-sales functions in order to provide better service, and issuing and rating policies electronically in order to reduce error rates.

INSURANCE CARRIERS, Management, Distribution channels

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Finding the right mix makes the difference: successful direct-response marketing takes the right combination of marketing factors

Article Abstract:

Changes in personal lines insurance have provided growth opportunities for direct-response marketing programs. Technologic advances allow for low-cost automated solicitation and underwriting and readily available household and driver information allows direct-response marketers and underwriters to maximize up-front groups selection. As a result, direct-response marketers have significantly lower distribution costs than traditional marketers.

Direct Property and Casualty Insurance Carriers, Direct Marketing Services, Direct Mail Advertising, Surety insurance, Personal Property & Liability Insur, Direct mail advertising services, Analysis, Property and casualty insurance, Direct marketing, Liability insurance

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