Huddle up for a strong game plan

Article Abstract:

Small insurance agencies, those with less than $500,000 in revenues, are advised to form strategic relationships among themselves to gain resources without giving up control. These huddles help in the areas of shared markets, group marketing plans, reduced cost of automation, business perpetuation plans and shared knowledge. Though huddles are flexible arrangements, care should be taken to find an appropriate partner.

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Sink or swim

Article Abstract:

Insurance agents must adapt to current economic conditions or risk disappearing. Forecasts indicate that less than half of the 45,000 independent agents in existence today will survive to the year 2000. There are five steps to successful transformation: shift focus to pre-tax bottom line, discard industry myths, broaden target market, develop understanding of financial statements and manage proactively.

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Many insurers overlook advantages of subrogation

Article Abstract:

Subrogation, the recouping of third-party insurance loses, is underutilized by many insurance companies. Insurers often overlook subrogation's potential due to a lack of experience in dealing with subrogation investigations. Strong subrogation strategies involve educating claims handlers, setting clear goals and proactively expeditating subrogation claims.

Claims Adjusting, Property & Casualty Adjustment Services, Property and casualty insurance, Subrogation, Insurance claims adjustment

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