July 18th, 2010Tranquil Mint: http://bit.ly/…
Tranquil Mint: http://bit.ly/diSeHQ
July 18th, 2010For Commercial Lines P&C, It?s a Buyer?s Market
Commercial property & casualty business is suffering from excess capacity in the hunt for market share, resulting in another quarter of declining renewal pricing, according to The Council of Insurance Agents & Brokers’ second quarter Commercial P/C Market Index Survey. On average, renewal rates dropped by about 6% in the second quarter, compared with a 5% decrease in the first quarter of 2010, notes CIAB.
“It’s the same old story,” said Council President Ken Crerar. “Carriers continue to fight aggressively for new business as capacity flows into the market. It’s like someone forgot to turn off the spigot. No one seems
If you listen to people talk about term life insurance prices you might come to the conclusion that all term life insurance is the same. Nothing could be further from the truth. Sometimes there is such a vast difference between the prices among companies that it makes one wonder how these high priced policies sell. If you dig a little deeper you will see why they differ.
- Preferred Risks
The term life insurance prices are sometimes classified something like this. You have the select category which is sometimes referred to as preferred risks.
July 15th, 2010Are You Truly Customer-centric?
After analyzing results from more than 140 large North American firms, 17 of which represent the insurance industry, Temkin Group came to the conclusion that companies are in early stages of customer experience maturity.
The group asked respondents to rate their companies on four competencies, including purposeful leadership, customer connectedness, compelling brand values and employee engagement.
After reviewing the ratings, Temkin identified six classifications, and where these companies fall:
• Customer-centric organization — 3%
• Strong customer-centricity — 13%
• Moderate customer-centricity — 11%
• Weak customer-centricity — 16%
• Very weak customer-centricity — 25%
• Customer-oblivious organization — 33%
Respondents identified obstacles to customer experience efforts. The top five:
July 14th, 2010What you can get with life insurance
You should know, that in case of your death within three years of transferring property of your current policy, life insurance coverage will be mentioned as part of your estate. The things that are usual for you, for example how to buy life insurance if you are a broker, how to make a breakfast for children if you’re a housewife, or how to fix a light switch if you are an electrician are all new to those of us who know nothing about this industry. So after reading this article you can learn something new about such important types of insurance as life cover and income protection cover.
If you die, your life insurance will be sufficient to cover burial expenses. Full Article…
July 11th, 2010A First Look at Final Meaningful Use Criteria
The Department of Health and Human Services has released the final rule establishing Medicare and Medicaid incentive programs for the meaningful use of electronic health records. The rule is available for download now at ofr.gov/inspection.aspx, and will be officially published July 28 in the Federal Register, effective 60 days later. Also released was an accompanying final rule to establish initial data standards, implementation specifications and certification criteria for EHRs.
Meaningful use criteria in the final rule are substantially relaxed from what was previously proposed, but still comprehensive and a challenge to meet.
July 10th, 2010Report: Positive Claims Experience Equals Renewals
Personal lines property/casualty carriers received confirmation yesterday of a business strategy that works: Claimants of insurance companies that provide highly satisfying property claims experiences are considerably more likely to renew with their insurer and recommend their insurer to others, according to the J.D. Power and Associates’ (http://businesscenter.jdpower.com/) 2010 U.S. Home Claims Satisfaction Study released yesterday.
Among home insurers that provide highly satisfying claims experiences (satisfaction scores of 840 or higher on a 1,000-point scale), 71% of their claimants indicate that they “definitely will” renew with their insurer and only 4% say that they have switched insurers since experiencing their homeowners claim. S Full Article…