As for Tesla, the insurance companies that were asked to insure the Tesla cars did not have any knowledge of the true cost to insure the cars for this simple reason: they had no idea of the cost to repair the cars. With insurance companies not having any idea of the potential cost to repair a Tesla against a variety of accident scenarios, they began to guess the cost of repair.
As a Millennial, I have been part of the Digital Transformation for companies in several industries. Regardless of the industry, I noticed that the business processes the companies used were not very productive. From multiple excel files to word documents, the processes were endless, causing miscommunication between departments and duplicating the efforts to achieve a single outcome.
The 39 most expensive drugs in the U.S. range from an annual cost of low $10,000’s to high $500,000’s,’ says John Sarich, VP of strategy at VUE Software. ‘They are designed to treat very serious medical conditions. It should be noted that pharmaceutical companies are international businesses with drug manufacturers.
Continuing growth of Medicare Advantage means competition as carriers drive Medicare Advantage enrollment growth by increasing internal sales teams and aggressively courting major Insurance Agencies to market their plans.
I have spent the last 20 years or so watching and helping in the evolution of CRM (Customer Relationship Management). The journey began while at the largest telecommunications company on the planet, running a team of seasoned architects. Our purpose was to map out the long-term application strategy for the infrastructure. During one of our… Read more »
Producers or Agents have been a part of the insurance distribution landscape for over 100 years. The role of the agent as a sales representative, customer service representative, in client management, as a business advisor to the carrier, and many other roles make the agent the king-pin, if you will, of getting insurance products into... Read more »by John Sarich2018
2018: the year of External Sales Agencies and Agents. In previous years, many Medicare carriers invested in growing internal call centers and internal sales teams. With the time and resources spent building complex team structures and internal hierarchies, carriers who had not planned well diverted attention from valuable agencies and agents. At a recent conference… Read more »
A few years ago a large career focused life client, was seeking to expand their business and bring on agents in a training capacity and move them up a sales ladder. In this development approach to grow and maintain a sales force, the producers gradually proved themselves, became eligible to sell more products, and were… Read more »
We constantly monitor the insurance industry landscape by keeping track of our ever-changing insurance regulations and technology environments so that our clients don’t have to. One way of doing that is by attending industry events. So, what are the big advantages of attending an insurance conference? Three big reasons: grow your personal and professional network,... Read more »by Gloria Camacho2017
Many people confuse the NIPR with the PDB. They think the terms are interchangeable. In fact, though, one is the organization and the other is a database of producer information. The NIPR or National Insurance Producer Registry was incorporated in October, 1996 as a nonprofit affiliate of the National Association of Insurance Commissioners (NAIC). One… Read more »