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12 Cards in this Set
- Front
- Back
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The general insurance industry provides
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a stabilizing force on the economy.
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But consumers
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Rate the industry poorly
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Insurance cycle where
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premiums increase/terms tighten and the market shrinks, industry becomes the harsh recipient of critical attention.
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Critical attention comes from
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Media
Politicians Individuals COnsumer Groups Small business owners and groups representing them |
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Insurance professionals can seize
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the opportunity to be positive and offer factual information.
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Industry may need +PR
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some positive public relations activities to improve its image.
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Must strive to
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Educate ourselves about how the insurance business works to improve awareness among consumers.
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Such as:
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o What is a good risk/bad risk
o What is factored into pricing risks o Why rates go up even if no claim has been filed o Why a healthy, profitable insurance industry benefits everyone |
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Plain language policies
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Shed complexity and legalese
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These help because
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They are more easily understood by the public
Helps the consumer understand what they bought |
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Goal
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To create more positive view of insurers
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By engaging consumers
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We hope to provide them with a better understanding of why insurers must do things the way they do.
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