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6 Cards in this Set
- Front
- Back
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Claim services |
We as a brokerage have the opportunity to create a less emotional experience for the client |
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Policy holder services |
An insurance company is not likely to admit to providing poor service, services to consider are Procedural matters- how easy to do business with Support services- companies that offer technical services like engineering inspections to help reduce costs Technology- effective technology improves client services |
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Financial stability |
Insurance companies have both a fiduciary and contractual obligation to those they insure..... |
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Underwriting procedures |
Location of underwriting decisions - can decisions be made at a branch level or do submissions have to be sent to head office for approval Are there different underwriters for each line of business If having to deal with several underwriters on an account how will disagreements be solved Does the underwriting practice in class underwriting or is each application treated as its own |
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How many insurance companies |
Brokerages must decide on the number of insurance companies it wants to represent |
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How many insurance companies |
The brokerage must decide on how many companies it want to represent there are advantages and disadvantages explain Advantage when just a few companies are represents greater premium volumes can be maintained with each , this can reduce the effect of an unusually large loss on the brokerages overall ratio Disadvantage- dangers when placing too much business with a single company if that relationship were too deteriate |
