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How To Sell Property And Casualty Insurance

May 20th, 2010 No comments

How To Sell Property And Casualty Insurance

IBM Moves Predictive Analytics Into New Era by Giving Business Users ‘Three Clicks’ to Smart Decision Making
IBM today unveiled new software that places the power of predictive analytics directly into the hands of business users for faster, more insightful decision making.

Concord Insurance Brokerage Jenkins Rebrands

Jenkins Athens Insurance Services, the Concord insurance brokerage and employee benefits firm, has renamed itself Jenkins Insurance Group in a brand repositioning move that consolidates all of its services under one name.

The name change will take place in two steps: the new brand and logo will be introduced immediately for the company’s property and casualty insurance services, and in early 2009 for the firm’s benefits division, Athens Benefits. The Athens name was introduced in the 1980s when the firm expanded into offering employee benefits services.

Jenkins had premium volume of $436 million last year, up from $423 million in 2006. It is the third-largest brokerage in the East Bay, according to East Bay Business Times research.

The company is repositioning itself at a time of upheaval and consolidation in the insurance industry, which has seen commercial property and casualty premiums decline 5 to 15 percent a year for the past four years as companies fight for market share.

The drive to strengthen market share and leadership in growth markets while at the same time increasing economies of scale is behind a number of recent mergers, including Willis Group Holdings Ltd.’s $2.1 billion acquisition of rival Hilb Rogal & Hobbs Co., a deal announced earlier this month. London-based Willis is the third-largest broker in the world behind Aon Inc. and Marsh & McLennan.

Closer to home, Oakland firm Saylor & Hill Co. in May completed a merger with Barney & Barney LLC of San Diego. And Wells Fargo & Co. has made a string of acquisitions in the insurance space over the last several years.

Independent brokerages have sold out to larger firms as founders sought an exit strategy, and, increasingly, as they have found it is harder to compete against larger, deep-pocketed firms.

Jenkins CEO Curt Perata said Jenkins is committed to remaining independent. The 71-year-old company was started by James W. Jenkins and is still family-owned. The founder’s son, James C. Jenkins, is chairman of the company, and a member of the third generation, James R. Jenkins, is president of the Athens Administrators division.

“Rebranding costs a lot of money,” Perata said. “There is a lot of investment and a lot of thought process that goes into the brand.” In this case, the name change was a way to better reflect the values and history and relationships that the firm has, he said. Jenkins has spent close to $500,000 on the rebranding effort, Perata said, which includes a new Web site. “In these times it is significant investment.”

The premium declines are good for Jenkins’ clients, but the flip side is that commissions go down as well. Jenkins has grown its total client numbers 10 to 15 percent on both sides of its business, Perata said, but revenue on the property and casualty side, which accounts for about 60 percent of the company’s total revenue, is flat. Revenue on the benefits side, meanwhile, is growing 10 to 15 percent annually.

In 2007, Jenkins’ revenue was $39 million, roughly flat with $38 million in 2006. Perata declined to disclose exact income figures, but said the income from the benefits side has remained strong while income from the property and casualty side has seen a lot of downward pressure.

Jenkins hopes to leverage the repositioning of its brand to bring in more business, and increase the amount of cross-selling it does between its divisions. Right now, about a third of its customers buy services from both sides of its business, Perata said.

Property And Casualty Insurance Books

March 26th, 2010 No comments

Property And Casualty Insurance Books
Property And Casualty Insurance Books

STRATEGIC TRENDS IN SERVICES MARKRTING

STRATEGIC TRENDS IN SERVICES MARKRTING

ABSTRACT

Service marketing differs from product marketing due to the fact that services are intangible and typically require personal interaction with the customer. Yet an understanding of this type of marketing is important since service jobs generate 74 percent of gross domestic product. Even though many of the tactics of product marketing (e.g., advertising) require only minor adaptation to be applied to services, the role of interpersonal relationships distinguishes service and product marketing in strategic vision and organizational considerations.

 INTRODUCTION

Marketing, as the term is commonly understood today, developed initially in connection with the selling of consumer packaged goods and later with the selling of industrial goods. Yet one of the major megatrends in America has been the phenomenal growth of services. Service jobs generate 74 percent of gross domestic product and 79 percent of all jobs. In fact, the Bureau of Labor Statistics expects service professions to account for any net job growth through 2005 (Henkoff, 1994, p. 49). These jobs go beyond what is characteristically considered the low-paid service position to include professionals in a variety of fields including medical, financial, telecommunications, and information services.

There are many perceptions of what “service” is, and it may be useful to differentiate between services which are salable products per se and those customer services which are tangential to the product (such as empathy, a friendly attitude, and superior customer treatment). Corporations provide a range of offerings along a continuum from pure services to pure products with very few things at either extreme. Customer service activities are a critical and inseparable part of doing business for any offering along the continuum. However, the farther an offering is on the service side of the continuum, the more important the human relationship between the provider and consumer of the service becomes. Since service sector products are intangible, the buyer uses satisfaction with customer service treatment as an indicator of the quality of the core service purchased.

The book by Berry, Bennett, and Brown (1989), Service Quality, describes how important the service process is to the customer’s perception of quality:

The way customers judge a service may depend as much or even

more on the service process than on the service outcome. In

services, the “how” of service delivery is a key part of the service.

Purchasers of tangible products judge quality on the basis of

the finished product – its durability, functioning, appearance,

and so on. Purchasers of services judge quality on the basis of

experiences they have during the service process as well as what

might occur afterwards.

Due to the importance of the relationship between the service provider and consumer, quality customer service is increasingly being viewed as a key subset of service marketing. Even though many of the tactics of product marketing (e.g.,  advertising) require only minor adaptation to be applied to services, the role of interpersonal relationships distinguishes service and product marketing in strategic vision and organizational considerations.

STRATEGIC TRENDS

Levitt (1960), in his article “Marketing Myopia,” wrote that the railroad industry foundered because it considered itself in the railroad business rather than in the transportation business. This fundamental shift in business definition would have dictated a very different approach to planning and growth.

Services are faced with the same challenge to redefine their businesses as broader systems of services built on competitive core competencies. Progressive Corporation is an example of an organization that has redefined its business from a company that sells automobile insurance to a “mediator of human trauma” (Henkoff, 1994, p. 49). Its CAT (catastrophe) team flies to the scene of major accidents, provides support, and handles claims quickly. Contact is made with 80 percent of accident victims within nine hours after learning of the crash. To be able to provide support effectively, Progressive pays for training its agents not only in insurance matters but also in grief counseling (since part of the job involves dealing with the relatives of accident victims). This approach has earned Progressive one of the highest margins in the Property And Casualty Insurance industry, which has notoriously low margins

R.Yuvarani

M.Phil Scholar,

Department of Commerce

Periyar University, Salem-11

 

New Property and Casualty Insurance Agent, any advice?

I recently started working for an Independent insurance agency on Long Island selling property and casualty. I have great interpersonal skills and this career is without a doubt for me. I love to help people and this kind of product allows me to do just that. I work off of commissions only and am looking for some advice on how to expand my book. My family and friends will run dry eventually and I want to know if anyone has had true success with cold calling? If I wish to contact local businesses , is it better to walk in and introduce my self face to face? call them up during buisness hours? or begin with an e-mail or letter sent out introducing my self and company before I follow up with them. If you have had success or perhaps even got out of this business for any reason and have any advice for me I would greatly appreciate it. Thanks so much, and for anyone else in the business I wish you much success.

Hello fellow “green-horn”,
I am also new to the biz, and quite enjoy it. However I am in the exact same boat as you! I just posted a Q on some advice on inter-net leads and such. My quest is to get as many referrals as I possibly can and hopefully have that as my best resource. My best advice is to read up as much as you can on how to do this, as I did (so far so good) and advertise and market as much as possible! Even if it is one of those magnetic signs on your car/truck. It works! I’ve had it for 3 months and have gotten 16 calls and 4 sales off that alone. Find your niche, and stick with it! Find a way for people to remember your name! my last name sounds like Mouse- so I use that to my advantage. They remember me, and that is huge.
As far as the local businesses, I would find someone-anyone who knows(of) the owner/manager and ask them to “refer” you. Get their name, then when you call and ask for them you can say “Hello Mr. Johnson, I was speaking with Bob Smith yesterday and he said you may be interested in…” so on. That worked for me a few times.
Hope this was helpful to you and good luck in you endeavors!

Amy

Tax help today: If you tax the public can not pay, and other period of last-minute tax questions members the American Institute of Certified are responding to your tax questions at USATODAY.com to 15 April.

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Property And Casualty Books

March 17th, 2010 No comments

Property And Casualty Books
Property And Casualty Books
AmWINS CEO DeCarlo on Colemont Merger, Being No. 1 Wholesaler
The acquisition of wholesale insurance broker Colemont Insurance Brokers by its competitor AmWINS Group gives AmWINS entry into international markets for the first time and a bigger presence in …

Armenian Genocide: Speaking Out Against Human Suffering by Gita Saraydarian

Armenian Genocide: Speaking Out Against Human Suffering

By Gita Saraydarian

If we don’t acknowledge the mistakes of the past, we will not notice the present until it is too late. If we don’t come to the aid of others; the life will not send us aid when we ourselves need it. These are the laws of nature; what goes around comes around.

I was appalled when I heard on national TV discussions how the Armenian Genocide happened “so long ago,†“Turkey is our friend,†and “it is a disaster if we support the move…†from “expert political commentatorsâ€. How sad when these so called intelligent and educated people are appalled, surprised, indignant, and so “righteous†when their favorite issue is discussed and how vacant and how sad these people’s values are when it comes to political expediency.

See for example the Washington Post article regarding the Genocide: http://www.washingtonpost.com/wp-dyn/content/article/2007/10/18/AR2007101801579.html

When will world leaders do the right thing from the human perspective and stop worrying about academic or political dictates or their re-election campaigns?

My grandparents experienced the genocide directly under Ottoman Turkish rule. My father’s entire family was killed, lands confiscated, homes taken over. They lost everything, all of it. My father and his sisters and grandparents lived in a tent for many years, waiting for a place to live, terrified of what could happen to them, until they finally settled in Istanbul. Two aunts, then little 8-year old girls, swam across the river that was filled with dead bodies, and were picked up by Arab nomads. They were taken into the Arab homes, nurtured back to health, eventually married and raised large families. The scars of the genocide were all over them, and they lived to tell the story. One aunt eventually moved to Los Angeles. She visited our home frequently and spoke about her experiences, crying and shaking as she remembered the sadness and devastation. My mother visited the other aunt in a small village in Northern Syria and stayed up all night and all day, recording the stories that she told, crying, sobbing, and telling of the death and devastation that she witnessed with her own eyes.

Despite all this, survivors have gone on and have accomplished great things. My grandparents raised families and educated their children. My grandfather served the sick and helped anyone who came to his pharmacy, Turk, Kurd, Armenian, Arab; Moslem, Jew, or Christian, it did not matter. His work was dedicated to God. My mother raised five children and made sure we all went to college and became professionals. My father became a great spiritual leader, wrote 150 books and helped thousands of people across the world. He opened his heart and healed his wounds and asked forgiveness for all those who committed these atrocities.

My mother’s family lost all their lands, home, and most of the family. Some survived the death marches and ended up in Aleppo, Syria. Others were not so lucky. My grandfather lived to tell the stories and barely escaped from his home. They also raised families and created a life for themselves in Syria and in Jordan.

These stories are not isolated incidents or some past history without relevance. They did not just happen to my family. One and one-half million Armenians were killed by Turks and Kurds. Their first-hand narratives are a national treasure and in our national archives. They have been documented and recorded. We are not just making up stories to make others feel sorry for us. These events did occur and there are plenty of non-Armenian documentations to show the truth. But whether the world remembers or not, in each Armenian home, these stories are alive and told over and over again. As a nation, we remember our dead, our tortured, and our losses. The hearts of our mothers and grandmothers are heavy with sadness. Our fathers and grandfathers suffered the humiliation of not being able to secure the safety of their families. The pain and sorrow fills every part of our life as a nation and as individuals.

When an atrocity is committed against a nation, that nation needs to be affirmed. The atrocity must be admitted and understood. Forgiveness must be sought. Enough with silly political wordings and worries that Turkey will not let us “play†with them! Shame on all those so called leaders who lack the courage to call something by its rightful name rather than play games with the lives and turmoil and agony of human beings.

When the Iranian leaders suggest that the Holocaust did not occur, what do we Americans say? We call them “nuts†and show the evidence to the contrary. We are insulted, incensed, and wonder how a sane person can say such a thing? Why are the feelings of the German people not taken into consideration when we speak about the Holocaust? Is it the number of people who are killed that makes it worth our attention or the fact that human beings suffered and innocent lives were lost by evildoers? We are not condemning every German person living now in Germany, nor are we condemning every Turkish person living now in Turkey.

We cannot deny all the millions of people who were killed and eliminated by the regimes of governments, whether they are still in power or not in power. The Ottoman Turks, the Japanese massacres of the Chinese and peoples of South East Asian countries, the massacres in Africa — Darfur comes to mind right now — the Pol Pot massacres in Cambodia, the Holocaust against the Jews of Europe, the innocent children and women who are starving right now in many parts of the world, and on and on and on. How many dead people does it take to call it an atrocity and admit it? If we are going to worry that Turkey will not “play†with us, then we will not be able to talk about any government that commits acts against humanity because we need the benevolence of that government for our troops, for our trade, for our religion and so on. Americans are supposed to stand for human rights? Well, let us stand up for them in truth and courage and not be looking out only for ourselves.

Whether it was Genocide, Holocaust, or “Casualties of War†it does not matter. When one human being suffers, we all suffer and bear the consequences. From time immemorial, people have been conquering others and massacring them and no one cared to speak out.

No matter what political names we give to atrocities, every Armenian, every Jew, every Chinese, every person living now who himself suffered or had family members who lost family and property, suffered the death marches and death camps, killed or maimed under any totalitarian leaders must stand up and speak up. Every African who is starving and dying now, every innocent person killed and maimed by religious fanatics and fanatics of all kinds, we need to acknowledge them, no matter how far it was in history or how far it is in the other parts of the world, or how different they are from us. This is not just political expediency, but the healing of the acknowledgement of the humanity of all those who suffer.

It is really pathetic for me to hear that a group of people will not speak out against atrocities for fear of what can happen to them. These are simple games that “Leaders†use to threaten people with fear. Fear is a potent tool, but it is empty. Nazi Germany was famous for using fear tactics and it cowed an entire continent to not speak out sufficiently against atrocities. It shut off debate and disagreement. Are we doing the same thing now? It is especially incumbent now for all those who suffered in the past and are suffering now, not to turn a blind eye to what is happening to others. How do you think your parents and grandparents felt when no one came to their defense? Why would you not speak out now when someone else is being killed and denied basic human rights? If we stand up for each other, we will see how much we are the same human beings on earth. When the time comes, others will stand up for us also. It is so pathetic to think that only “our kind†of people deserve to be acknowledged for their sufferings. Just being a living being on earth should be enough to make us speak out, regardless of color, religion, ethnicity, or geographical location.

In affirming an atrocity against humanity, we do very important spiritual acts:

1. We give the tortured spirits of those who died the opportunity to rest in peace and have the chance to release themselves from earthly attachment. Religious and Esoteric Teachings give us plenty of information why this is important. Those who die in atrocities are souls who are tortured and attached to the pains of the earthly life; they do not have the freedom to leave the earthly life. Their suffering has to be stopped and they need to be set free. As long as they continue to suffer, their collective pain will continue to impress those living and not living on earth and beyond. This is the reason why every religious tradition has memorial services for the dead; they recognize the need to heal and release the dead.

2. We give those who committed the wrongs to come to terms with the mistakes and make amends. Atonement is a practice that exists in every religious and spiritual discipline. Asking for forgiveness is an act of kindness to yourself and to others. When we are forgiven, we are released from guilt. Best of all, karma has a chance to be healed. Any person or nation that commits atrocities against others has deep karma that will come back to it some time or another. There is no escape. What goes around comes around. We all should know this. When a nation admits wrongs and asks for forgiveness, it is the greater and not the lesser.

3. Those survivors who are acknowledged now have the chance to move on. Being a victim is a terrible thing. Identifying yourself as a victim is a terrible loss to self-esteem and self-image. Once you are a victim and see yourself as such, every decision you make will be based on that image. Witness the pain and suffering in the hearts of Jewish and Armenian women and how that suffering and pain plays out in the cultural context of all their families. Watch the starving and half-dead bodies on TV from Somalia or Darfur and ask yourself: How do their mothers and fathers feel? What will be their life narrative? How will their suffering souls see the lack of human response to their plight? How will their souls suffer in this world and in the world after? Who will stand up for these children and for these women and for these child soldiers? Who will remember them and acknowledge the pain caused to them? How will their physical and spiritual DNA be impressed by these atrocities and how humanity forgot them? What is the collective world karma going to be? What do we say to our Maker when we face Him in the Higher Worlds?

4. We provide true LEADERSHIP. This is the kind of human being who stands up for righteousness, for freedom, for fair play in all walks of life. This is a human being who not only cares for his wife and children but the wives, sisters, children of all others on earth. Wow! What a world that would be? What an example this kind of man or woman will provide for others who are still killing and maiming and brutalizing human beings.

5. We will stop closing our eyes and ears to the cry of human suffering. When we see a wrong being committed, we will not wait until it reaches 100,000 or half a million before we say, “wow, that is a lot of people, we better do somethingâ€!

6. We will start to value human life. One life lost in such tragedy is one life too many.

7. We will have the space in our minds and emotions to see the other kinds of “killings†that are happening every day, in every nation, across the globe. I am talking about terminal illnesses, mass starvations, children lacking in basic care, child abuse and child prostitution, child labor, slave trade, lack of health and education and lack of nurturing and parenting. What about the continuous killings of people due to religious and cultural intolerance and economic and environmental insensitiveness? Why are so many poor farmers led to commit suicide in India? How can we make room in our minds and hearts to care about these “secondary†atrocities if we are not first able to deal with the worst of them? Can we even think of a day when we have the space in our hearts and minds to care about animals and animal abuse? Can we dare to seriously care for the environment the same way? O boy, I know it may not happen in my lifetime!

World Leaders: stop counting your votes, your money and bank accounts, the needs of your military bases and such nonsense and call the truth as it is.

I am ashamed of our “leaders†in congress and in the media; I am ashamed to see how unrighteous they are.

Let us, the spiritual community and religious communities of all world religions, stand up for what is right. If you do not stand up for others, no one will stand up for you.

Gita

References and organizations you can support:

- For work on other worldly existence, see the book Other Worlds by Torkom Saraydarian. Our organization, TSG Foundation works to uplift human consciousness through publications, training, and spiritual services. We are non-sectarian and dedicated for human upliftment of all cultures and religious faiths. You can support our work in a number of ways. See our website for details.

- For reference about forgiveness, see Dr. Eileen Borris’s book on Forgiveness.

- For work done by Armenian Minister Der. Vaz on Forgiveness and true Christian values — He is an awesome priest of true Godliness and service to mankind — see his website In His Shoes ( http://hyeyouth.com/hyeyouth/index.htm ), and support his work.

- For narratives on Armenian history and documentation on the Genocide, see Zoryan Institute (http://www.zoryaninstitute.org/ ) 

For typical American Media responses, see:

http://www.washingtonpost.com/wp-dyn/content/article/2007/10/18/AR2007101801579.html

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