Life Insurance Companies Are Missing The Point And Losing Young Agents
Released on = October 24, 2006, 1:19 am
Press Release Author = Competitive Edge
Industry = Small Business
Press Release Summary = The insurance industry simply is not addressing the real
needs of the insurance agent. The insurance industry’s answer is all product based
while the delivery system continues to move at a snails pace. The agent’s job has
simply become more burdensome, insurance applications are growing in size some
anywhere between 13 to 30 pages and are prone to error for the insurance agent.
Agents devote more time to fulfilling requirements, checking status and other
administrative duties than they do selling. The industries answer, more products,
more paperwork.
Press Release Body =
FOR IMMEDIATE RELEASE
1/5/2006
Life Insurance Companies Are Missing The Point And Losing Young Agents
The insurance industry simply is not addressing the real needs of the insurance
agent. The insurance industry’s answer is all product based while the delivery
system continues to move at a snails pace. The agent’s job has simply become more
burdensome, Insurance applications are growing in size some anywhere between 13 to
30 pages and are prone to error for the insurance agent. Agents devote more time to
fulfilling requirements, checking status and other administrative duties than they
do selling.
Application procedures vary by carrier with no consistency in the industry as to
forms or procedures. We did find one company willing to make the insurance agent’s
job simpler, to find out more go to www.bestinsurancecarriers.com
Momentum is the key to closing sales yet the insurance companies bring that to a
standstill. Commissions motivate agents, yet they make a sale and it may be months
before they see their reward.
Several Insurance carriers today still have forms that can’t be completed on a
computer. Innovation comes from the field force not the insurance companies because
there are a few people in the field who aren’t afraid to try something new and take
chances. Insurance executives are not risk takers and are afraid of attempting
something new out of fear of failure and the reprisals from management above.
What the agent needs today is help to get them out of the process and back to
selling. Give them a simple platform that allows them to work with several carriers
with a consistent look and feel. Create underwriting tools that make the selection
of underwriting classes and risks simple through using menu driven programs. Help
the agent in the proper completion of the application using professionals to
eliminate omissions and errors while eliminating the need for wet signature
requirements with the use of electronic signatures where possible.
Give the agents the opportunity to adopt an industry format and language so these
reports are consistent between carriers and easy to understand. One agency decided
to step up to the plate, www.bestinsurancecarriers.com
Technology is being embraced by other industries while the life insurance industry
seems to be the last to get the news. When PJP Insurance Services last year decided
to convert to imaging they found that only 2 of the top 8 carriers could even accept
those images.
PJP Insurance Services, Inc. spent 12 months addressing all these issues and created
solutions. After only 7 months of operation thru only word of mouth marketing over
300 agents are now operating in a system designed to address their needs. Agents are
reporting increased sales activity with 90% less hassles. This is the insurance
agents dream; more time to sell, and leave the paperwork to someone else.
Dave Hackbart
For More Information:
www.bestinsurancecarriers.com
Web Site = http://www.bestinsurancecarriers.com
Contact Details = Mark Lundberg||6000 County Road 101 N||Plymouth ,
55446||$$country||||612-310-1008||markl@dybmarketing.com||http://www.bestinsurancecarriers.com
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