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Why are Homeowners Insurance Rates Increasing?

Scott Insurance

has seen an increase in their homeowners insurance premium. According to Money.com , an independent publisher, recent year-over-year premium increases have averaged 20%, and policyholders should expect to see at least a 10-15% increase in 2024. However, homeowners insurance generally operates on a lagged timeline regarding inflation.

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Millennial Insurance Buyers — What Agents Need to Know to Sell to Them

American Agents Alliance

Some insurance companies now highlight their charitable give-back programs , which may be of interest to millennial insurance buyers. They can explain how premiums are determined, how policyholders can mitigate their risk, and why certain coverages are important. Offer seamless digital solutions by embracing technology.

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It’s That Time of Year Again – Do You Know How to Be Compliant in Handling Your MLR Rebate?

R&R Insurance

Footnote: The Affordable Care Act (ACA) includes a provision known as the Medical Loss Ratio (MLR) which requires insurance companies to review their overall plan performance by market segments (small group and large group) to determine if they must return a portion of the premiums collected.

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Gamification in Insurance: Everything You Should Know

Leadsurance

Regardless of how the word makes you feel it is worth learning about considering that many of the big insurance carriers like Progressive are using gamification in their business. How insurance companies can use gamification to improve their business Gamification can help insurers in various ways.

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Emerging Property Insurance Trends 2024

Property Insurance Centre

. “Insureds need to be aware of the potential risks they face and work closely with their insurers to understand the coverage limitations and take proactive measures to protect their properties.” To offset these challenges, reinsurers are passing costs down to primary insurance companies.

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How to Not Suck at Being an Insurance Agent

Redbird Agents

Pick you product: Choose which type of insurance you’re going to focus on. home insurance, life insurance, healthcare such as Medicare or under 65 health insurance from the ACA marketplace, etc.) Get Contracts: Secure contracts with insurance carriers using a brokerage, FMO or directly with the carriers.

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Five Components of the Customer Experience that Impact Satisfaction

Redbird Agents

Clear Communications Binds a Great Customer Experience for Insurance Companies Clear communications is to customer engagement what clean floors are to a grocery store. Insurance carriers create tons of information that is suitable for customers, so segment your database and send them articles and videos specific to their needs.

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