CAT | Business
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Cross-selling home insurance to motor insurance customers is one of the best ways of generating new sales growth in the home insurance business
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Author: Anonymous
Source: free-articles
February 1 2004–Cross-selling is examined within the general insurance, retail banking and life and pensions markets in terms of the relative success of players at cross-selling, the strategies they employ and customer retention/attrition levels. This analysis is then taken across the verticals enabling competitors to benchmark themselves against the leading players and provides best practice examples.
This report provides:
-A comprehensive guide to consumer purchasing behavior in financial services.
-Analyses three markets: general insurance, life and pensions, retail banking.
-Gives an insight into the cross-selling strategies of financial services providers.
The report also highlights:
Cross-selling home insurance to motor insurance customers is one of the best ways of generating new sales growth in the home insurance business. Insurance companies experience better conversion rates when selling home insurance to existing customers than non-existing customers.
Consumers hold more financial products with banks than any other financial services organization. Consumers hold more financial products with Lloyds TSB than any other financial services organization followed by HSBC, Barclays, NatWest and Halifax.
Saga is very successful at cross-selling home and motor insurance. Saga customers may have high average product holdings because they can identify with the company’s brand values.
Reasons to purchase the report:
-To understand the purchasing behavior of the financial services consumer across the general insurance, life and pensions and retail banking markets.
-To identify the general insurance companies and retail banks that are most successful at cross-selling additional products to their customers.
-To gain an insight into the cross-selling strategies of retail banks and insurance and life assurance companies.
For a complete index of this report click on
http://www.researchandmarkets.com/reports/42845
About Research and Markets Ltd.
Research and Markets Ltd. are Europe’s largest resource for market research. R&M distribute thousands of major research publications from the world’s leading publishers, consultants and market analysts. R&M provide you with the latest forecasts on international and regional markets, key industries, the top companies, new products and the latest market trends.
For additional information on ResearchandMarkets.com, their range of reports or their value-added services, visit their web site at http://www.researchandmarkets.com or mailto:press@researchandmarkets.com
Author: Allison Ryanbr
Source: isnare.combr
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The local agent represents a carrier in a given city or town. He will ordinarily represent more than one carrier: he may represent both stock and mutual companies. The commission received by the local agent naturally is less than that paid to general or regional agents. The local agent performs little technical insurance service.
These services are performed by the true regional or general agent, or by the branch or home offices. The local agent is principally a salesman; his job is to acquire business and to give home insurance quotes to his clients.
However, for fire insurance, he is usually a recording agent; that is, he prepares and countersigns policies in behalf of his companies. In casualty insurance, he is often no different from the regional or general agent, except that his commission rate is less and he writes less business.
Attached to the home office, branch office, or general agency may be found a representative who solicits exclusively for a given carrier or general agent. He is known as an office agent. Although he is considered an employee of the carrier or office, his only pay is a commission for the business he produces, generally at the same rates as are offered a local agent.
The office agent, however, may have a better net income than the local agent, since his office, office supplies, and other services are furnished to him. An office agent may ask for and obtain permission to write business in companies other than that of his benefactor.
Not all private health insurance providers are anchored to companies by agency contracts or by employer-employee relationships. Some are freelance operators who shop around to find the best type of coverage possible for the insurance buyers who are their clients.
These producers are called brokers. Theoretically, brokers are agents of insurance buyers and not agents of the companies in which they place their business. Nevertheless, they are paid by the companies in the form of a commission.
The clients they serve are not required to pay the broker a cent directly. Of course, the premiums they pay for their insurance are loaded to take care of all commissions. So, indirectly, the client pays the commissions of both the agent and the broker.
The brokers commission is usually a little less than that of the agent. This allows the agent to accept business from a broker and still retain a slight margin of profit. Brokers, however, may place their business direct with the company rather than through an agent.
Some insurance brokers operate solely as insurance salesmen, providing no technical insurance service. They depend upon the companies to provide these services for their clients. Other brokers maintain a staff of engineers to help their clients obtain the best rate possible for their cheap homeowner insurance. These engineers check the exposures of their clients and the rating procedure of their companies. They also advise on loss-prevention activities.
Brokers are more prominent in metropolitan areas, operating extensively among business corporations with large exposures. They may become virtually insurance managers for some corporations. Some insurance brokerage firms are national in scope; a few are even international.
Brokers are not prominent in life insurance but are very important in the fire and casualty lines; they are most important in the field of marine insurance. Some producers may be both agents and brokers, operating as brokers in a metropolitan area and as agents in their suburban home communities. Some function as agents for life insurance companies but as brokers for fire and casualty insurance.
A final type of producer is the solicitor. He usually cannot bind the company or write policies. He simply finds prospects for insurance and then handles the business through a local agent, broker, or company branch or service office.br
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Allison Ryan is a freelance marketing writer specializing in financial planning and different types of insurance, including a href=http://cheap-insurance-rates.com/health/pre-existing-conditions.cfm rel=nofollowprivate health insurance/a and a href=http://cheap-insurance-rates.com/home/saving-on-homeowners-insurance.cfm rel=nofollowcheap homeowner insurance/a. For a wide variety of affordable insurance policies, check out a href=http://cheap-insurance-rates.com/ rel=nofollowhttp://cheap-insurance-rates.com//a.br
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Author: Tino Buntic
Source: download
If you are a broker or insurance agent you know full well that the sales of generation of potential customers is the hardest part of their work. You can not live without them because it is what drives your business. It would be great if clients called you for an auto insurance quote, but it just does not work that way unless you have an advertising budget for such things as yellow pages ads. If you're like many runners to buy car insurance internet insurance leads from online sources, such as insurance or iLeads Finder. This is a pretty good system and a large number of insurance agents about a lot of sales through car insurance has been purchased on sites like these. What normally happens with these internet leads is that the main Internet company is based on consumers who are looking for car insurance quotes. They land on the website and fill out a form with the type of insurance quote they are seeking. This is followed by sales lead car insurance web repackaging and resale of these leads to an insurance broker (sometimes the same place is sold to multiple intermediaries). The broker then buys the head, gives the customer a fee and expects to close the sale. Not only are there sites that sell auto insurance leads but there are also those that sell all types of lead, including insurance, home insurance leads, leads commercial insurance, liability insurance leads leads life insurance, group benefits business leads, leads travel insurance, disability insurance and driving. If you buy insurance ranges from sites that sell, I know you're paying too much. Most websites generate opportunities to attract visitors to your place of purchase to pay for Internet ads, like Google Adwords. This is a system in which these ads websites out in the area of sponsored search engines and pay each time someone clicks the ad, usually between five cents and a dollar per click. Then the user completes the form with your information and that information is then repackaged and resold to insurance agents as yourself, usually between $ 5 and $ 100 per lead. So, you see how Internet auto insurance leads cost too much? If you buy leads you are paying an average man, in this case the website lead generation, to collect information for you. You should know that you need not pay a middle man to do this for you. All you need do is set your own site and buy these cheap pay-per-click ads. And, these days you can create a professional looking website for under $ 100 and anyone can join the Google AdWords program to generate sales for them, including you http://www.trade-pals.com website ! Visit Tino Buntic to receive free B2B and B2C sales leads without cold. TradePals provides free sales leads to brokers and other business professionals and entrepreneurs in major U.S. cities and Canada, including Phoenix, Sacramento, Atlanta, Boston, Portland, Toronto, Ottawa, Edmonton, New York, Chicago, San Antonio, Tampa, New Orleans, Denver, Winnipeg, Albany, Cincinnati, Milwaukee, Buffalo, Memphis, Charlotte, and Baltimore. Create a free professional profile and then in the business directory TradePals today.
