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How to Compete Against Billion Dollar Insurance Advertising Budgets

  Insurance ads are everywhere. In fact, according to Statista, the amount spent on advertisements by insurance companies is the 5th largest of any industry. As an insurance agent or industry professional working for a carrier that doesn’t advertise, the large ad budgets seem like a formidable competitive threat. But is that true? Actually, it…

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NAIC - National Association of Insurance Commissioners

National Association of Insurance Commissioners (NAIC) Presentation

I was honored to present to the National Association of Insurance Commissioners (NAIC) at the December meeting in Miami. That was the second NAIC conference presentation in 2016. In Miami, the presentation was to the committee on Market Regulation and Consumer Affairs. To industry insiders, this is known as the “D Committee.” The presentation focused on the need for…

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social media

Does Your Agency Need Social Media?

The promise of a steady flow of new customers is the siren song of any business. Social media promises this steady flow of new customers through increased visibility. The desire for more customers is a primary reason for the adoption of social media by businesses. Unfortunately, few insurance agencies materially change their performance by adopting social media. The truth…

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Bringing big data analytics to insurance agents

Big Data Analytics for Insurance Agents

Low conversion rates challenge insurance agents writing new business. While existing business has a higher conversion rate, there is always the occasional customer who doesn’t renew. As the direct model grows, the number of customers not returning grows as well. These challenges that insurance agents face aren’t new, but they are steadily growing in magnitude.…

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Conversion rate tools for insurance agents

Conversion Rate Tools for Insurance Agents

Finally, technology is enabling insurance agents to increase their conversion rates and improve customer satisfaction. Facing increasing competition, agents and agencies are adopting easy-to-use tools that increase their efficiency. The tools are based on big data analytics, quantitatively measuring the recent history of price, performance (claims payment) and service, for every car insurance company, in every…

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