TGS

NOVEMBER 5, 2024

TGS Insurance » Blog Homeowners Insurance Underwriting Questions: What to Expect When Getting a Quote So, you’re ready to take the plunge into homeowners insurance. Either way, there’s a step that often surprises people when they go to get a quote—the underwriting process. And, trust me, it can feel a bit like playing 20 Questions.

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Neilson Marketing Services

OCTOBER 23, 2024

The landscape is highly fragmented, with agents spread across regions and varying in size, specialties, and market focus. You can refine your outreach efforts by focusing on agencies with the right premium volumes, specialties, and relationships with specific carriers. But connecting with these agencies can be difficult.

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Majesco

MARCH 27, 2025

When she recently realized that her premiums for both vehicles were nearly identical (and they had both gone up), she called her insurance agent. The agent suggested a telematics-based insurance product for the convertible to optimize pricing. The potential premium savings are worth the data sharing.

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TGS

NOVEMBER 12, 2024

TGS Insurance » Blog Unlocking a Smart Home Insurance Discount: How Your Gadgets Can Lower Your Premiums If you’ve recently dipped a toe into the world of smart home technology, you’re likely familiar with the benefits of convenience. Yes, you read that right. And let’s be honest—who doesn’t love a good discount? In short, yes!

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American Agents Alliance

DECEMBER 8, 2024

This represents an opportunity for agents who can use parametric products to offer policyholders an option for faster and easier claims payouts for various types of risks. This could creatively add a layer of protection, but agents must be sure to educate consumers about parametric coverage and how it differs from a traditional policy.

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Word & Brown

OCTOBER 31, 2024

Read our prior post, Intro to CRM Tools for Insurance Agents, to learn more about CRM and some of available platforms. The post 5 Strategies to Help Insurance Agents Win Over New Clients appeared first on The Insurance Broker Blog.

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Word & Brown

FEBRUARY 18, 2025

Lets look at how an agent/GA relationship works and how a GA can work on your behalf in dealing with carriers and plan administrators. If your clients want something more like EAP, COBRA services, a Premium Only Plan, and ERISA services we can help you there, too. But you are still able to remain independent and operate on your own.

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AMAXX

JANUARY 13, 2025

Insurance Company: The Risk Bearer Often referred to as the underwriter, insurer, or carrier, the insurance company provides the workers’ compensation policy and assumes the employers risk. Brokers and Agents: Employer Advocates Brokers serve as intermediaries between employers and insurance companies.

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Neilson Marketing Services

OCTOBER 28, 2024

Do agents view them as valuable parts of their portfolio? With this information, surveys can be directed at discovering why agents turn to them and how they compare to competitors. Spotting High-Potential Partnerships : Quality data can segment agencies based on factors like growth rate, premium volume, or target markets.

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TGS

OCTOBER 3, 2023

This proposed estimate can change in price as your agent works to refine your quote so that it’s curated to suit your unique coverage needs. Quotes that are ready quickly are usually based on a small subset of information, then the initial baseline quote is refined during the underwriting process. Total Premium 11.

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American Agents Alliance

DECEMBER 14, 2024

Shifting insurance market conditions will bring new risks and opportunities for agents and brokers. Adapting to these shifts will require agents to be strategic, focused, and aligned with market demands. Heres how independent agents and brokers can thrive during softening insurance market conditions.

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Majesco

MARCH 13, 2025

The risk-averse DNA of insurers and their focus on underwriting margins, profitability, and capital levels to align with regulatory requirements can impede and restrain change, including transformation, optimization, and innovation. Misconceptions abound.

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Property Insurance Centre

JANUARY 4, 2024

Inflation drives up property valuations , construction costs , and insurance premiums. This has resulted in higher premiums and limited coverage in catastrophe-exposed areas. Insurers are investing in advanced technology and data analytics to improve risk assessment and underwriting processes.

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Triple-I: Homeowners Insurance

DECEMBER 3, 2024

Louisiana Insurance Commissioner Tim Temple – a self-described “unicorn” among insurance regulators, given his decades-long background in the industry as an agent, broker, and company president – even renamed programs to address “legal system abuse” when he assumed office in January.

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P&L Financial Services

DECEMBER 20, 2024

As an insurance agent, understanding the needs and concerns of senior clients can open the door to building trust and creating solutions tailored to their unique situations. Addressing these specific needs as an agent will show clients you understand their priorities. Though premiums are higher, it ensures peace of mind.

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Distinguished

SEPTEMBER 17, 2024

If we are comfortable with our exposure, we may consider increasing the AOP deductible and the theft deductible , depending on the underwriting analysis. Are there any emerging trends in the construction industry that are impacting builder’s risk underwriting? We bound the policy for a six-month term, and the premium was $1,300.

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Majesco

APRIL 25, 2024

Policy management flows smoothly from shortstop (underwriting) to second base (billing) to first base (customer service). It’s a double play—claims processed swiftly, premiums collected seamlessly, and customers satisfied. Now, imagine the infield—shortstop, second baseman, and first baseman—all working in harmony.

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Smart Insurance Agents

AUGUST 19, 2024

Even though the coverage is similar, like Plan G from one company being the same as Plan G from another, the premiums can be different. Even though Medigap plans require monthly premiums, the benefits can be worth it. They can’t charge you higher premiums because of pre-existing conditions.

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Zywave

DECEMBER 18, 2024

Our ultimate goal is to help insurers grow more profitably and help brokers increase premium in fast-changing coverage areas while also enabling insurance buyers to have better renewals. Registration is now open: [link]. This conference will offer discussion on ways to increase insurance sales and foster organic growth.

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Distinguished

AUGUST 12, 2024

When determining the end price of a policy, our underwriters will look at a number of factors that can influence whether the final premium will be closer to 1% or 5% of the total project cost. Expertise : Our underwriters have been insuring Builder’s Risk projects for years. In most cases, you’ll get a quote back instantly.

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Smart Insurance Agents

OCTOBER 16, 2024

Unlike agents tied to one insurer, brokers work with multiple companies to give you unbiased options. Unlike agents who represent a single insurance company, brokers work with multiple insurers, offering a broader array of options to their clients. Claims assistance When it comes to claims, brokers are invaluable.

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Word & Brown

OCTOBER 14, 2024

Health insurance agents and brokers often seek partnerships to enhance their business capabilities. The Value of a General Agency Partnership Many brokers – from newcomers to veterans – partner with a General Agent (GA) to boost their businesses. Word & Brown General Agency offers unparalleled support and resources.

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Freeway Insurance

OCTOBER 26, 2023

Your age, driving record, and the insurance regulations in the state in which you live are among the chief determining factors that will set your premiums. Another way to find cheap car insurance is to reach out to an independent insurance agent. But that’s only for starters.

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Distinguished

AUGUST 5, 2024

Affects homeowner premiums : If a claim needs to be made for one of your clients’ toys, that claim could lead to increased premiums on their homeowner’s insurance, a financial burden that may not be worth the claim. Property and Liability products are distributed through a national network of agents and brokers.

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TGS

SEPTEMBER 11, 2023

The South Carolina Wind and Hail Underwriting Association, also known as Wind Pool, is an association of insurance providers. The South Carolina Wind and Hail Underwriting Association has an eligibility checker. Calculating Your Rates With Wind Pool Insurance providers calculate your premium based on many different factors.

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Distinguished

SEPTEMBER 10, 2024

However, every project is different, so underwriters will determine the final cost of a policy based on the following factors: Location : Construction sites near bodies of water, in higher crime areas, or that include some other unique risk factor would increase the cost of the policy.

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Distinguished

JULY 22, 2024

At Distinguished Programs, our specialty fine art and collectibles insurance offers several key advantages over relying solely on homeowners insurance: Doesn’t Affect Homeowner Premiums : If your client needs to file a claim, it won’t impact their homeowner’s insurance premiums.

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Agency MVP

DECEMBER 20, 2021

Trends in Property and Casualty Insurance Most insurance companies are making the underwriting and policy issuance process simpler and more streamlined. Overall, premiums have become less expensive as well. This creates a meaningful and significant opportunity for agents today. Working from home is cost-effective.

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Jackson & Jackson

MAY 22, 2024

For instance, properties in high-risk areas for wildfires or earthquakes may require additional coverage or face higher premiums. Additionally, factors like proximity to high-risk areas, building age, and the property’s history of claims can affect insurance premiums.

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Jackson & Jackson

AUGUST 16, 2024

As a result, insurance companies have had to reassess their strategies for covering properties in high-risk fire zones, leading to higher premiums and coverage limitations for homeowners in these areas. Additionally, consider reaching out to local agents who have an in-depth understanding of the California insurance market.

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Distinguished

SEPTEMBER 25, 2024

Soft costs : Additional expenses caused by a covered claim that are not related to building materials, equipment, or other hard costs; these soft costs could include additional reinspection fees, increased tax burdens, and insurance premiums. Property and Liability products are distributed through a national network of agents and brokers.

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Majesco

FEBRUARY 15, 2024

Carriers must balance speed and accuracy to deliver precise risk evaluation, with the expectation and result of comprehensive and fair premium pricing for both the insurer and its policyholders. Let’s These types of risks often require specialized knowledge and underwriting expertise.

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Majesco

FEBRUARY 22, 2024

Innovation includes exciting forward-facing technologies and creative day-to-day operation models, like underwriting transformation, that enable the company to move in new directions. With direct premiums written rising 24% as compared to 2021, MGA growth outpaced the overall P&C market by 10.5% with $85.5B

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Word & Brown

NOVEMBER 12, 2024

For independent insurance agents, Quotit pricing starts at $99 a month, with standard and premium options at $149 and $199 per month, respectively. There’s also a one-time activation fee of $150. Agency packages start at $199 per month and top-out at $459 per month.

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Majesco

NOVEMBER 21, 2024

By moving the business to next-gen cloud intelligent core platforms with embedded technologies like APIs, microservices, AI/ML models, GenAI, and digital, insurers can drive down operational costs and increase premium growth…bending the cost curve and creating competitive differentiation in a tightly contested industry.

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Tosten Marketing

SEPTEMBER 12, 2023

Simply communicating to your customers that rates are up, underwriting is tightening, or an insurance carrier is pulling out of a state is a great way to be proactive. Annual Reviews : I do an annual review with my personal agent every year. There is nothing wrong with that. Aim to get 3-10 new Google reviews per month.

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Word & Brown

NOVEMBER 7, 2024

Here are seven proven techniques to help you close more sales as a health insurance agent or broker. If carrier A has a plan that includes a similar network, but the premiums are lower, it’s okay to sell based on cost. Closing Techniques in Insurance Sales to Boost Success 1.

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