Credit scores are statistics now considered as an indispensable part of rating, underwriting, and determining plan eligibility by insurance companies. Insurance agencies use credit scoring to determine how probable a customer or client is of repaying his or her debts. However, critics of the practice argue that the rationale behind this common practice is not sound. Many suggest that a credit score does not reflect the fiscal responsibility of the consumer as it should and that it rather is a measure of the likelihood that a customer will file a claim. This has caused the practice of credit scoring to come under much debate and scrutiny. Customers often require an explanation as to why insurers pull their credit scores. The explanation? Insurance agents often seek reasons to raise premiums. To better understand the pool of consumers that their agencies tend to attract, it is necessary for insurers to know how consumers may try to change their credit score to their benefit. Since it will inevitably be a topic of conversation between every insurance agent and their consumer, they must know this subject thoroughly to properly handle this controversial subject.
It’s 2017. Conceivably, a great ever-growing number of objects in everyday life are connected to the internet. It’s no surprise then that a good deal of business is done online: business transactions and marketing efforts are abundant in the world-wide web. The ubiquitous internet, which is becoming more and more unavoidable for consumers everywhere, offers businesses of all kinds the opportunity to profit financially from web availability. Owning a professionally designed website has become standard for any general business, and since there is a great dependency on mobile devices among customers, it must be fully supported on the wide range of existing platforms and devices in order to maintain a relevant website usability. This is unexceptionally the case for auto insurance agencies.
Scene: It’s 1 a.m. in the morning. You’ve been out on the town having a fantastic night, and now it’s time to go home. You’re physically tired from dancing and the general hustle and bustle of an evening out. You plop down in your brand new self driving vehicle and activate the ignition. After a moment of the customary beeping, whirring, and start-up noises a voice says: "Good evening (insert name), I detect that you’re drowsy. During this trip I may require your driving assistance in the event of an emergency. If you wish to proceed to the destination, you must authorize your auto insurer to increase your premium until arrival. This amount will be added to your monthly payment. To authorize, say yes."
A new year means new clients, a larger book of business, and better yields for agencies everywhere, Right? Well, possibly. Hard-working businesses like yours are not the only ones getting revved-up and motivated for a prosperous 12 months. While you are diligently planning your strategies for customer care, sales, and retention hackers are investing their own energy in finding more efficient methods of breaking into the systems of successful businesses. 2016-2021 is expected to see a definitive rise in cyber security attacks targeting small and large businesses alike, according to the University of San Diego.
It’s time to get innovative and leave your competitors in the dust! To get ahead in the insurance industry, you need to gather reviews. In this day and age your customers are tech savvy, so they will go the extra mile to find out if your products are reliable. But how will your customers know if no one leaves a review? Wouldn’t you want to know if the product you’re buying is worth your time and money? According to Zendesk.com, Dimensional Research reports 88% of online customers make a buying decision based on what online reviews say. That percentage is astounding! If you’re not swayed by that, Jonathon Wolfe, blogger and VP of Techvalidate concludes that 94% of respondents rate company reviews by customers as “very effective” (Survey of 105 B2b marketing and sales professionals). Getting positive customer reviews is extremely important for the success of your insurance agency. The main question to ask is…… how to get customers to leave more reviews?
Tip #1: Sell globally
If you’re looking for more customers, sell to multiple audiences. For instance, if you’re an insurance company, advertising to teens, adults, and the elderly can improve sales tremendously. Almost everyone requires some type of insurance and if not, people who have been informed about it will spread word among others. Envision yourself encountering a phenomenal business that doesn’t necessarily provide for your needs, but it can help someone you know. Will you hesitate to tell that person? Andrew Griffiths, author and entrepreneur from Inc.com, points out yet another great way you can improve your sales. Griffiths states that distributing your products or services internationally and educating your employees in cultural awareness will raise sales abundantly.
One of the most persistent problems of many business owners, is the ability to drive traffic to their website. Even some of the best designed websites have trouble getting traffic. Sooner or later they’re left to ask themselves “why” and “how can I fix this”. Whether you’re a business owner or blogger, I am here to tell you, there is a solution to this madness with five easy ways to increase website traffic.
According to InsuranceJournal.com, independent insurance agencies tend to focus on the sales part of their industry. Many of the business owners either lack knowledge or the experience that is required to run insurance agency accounting. There is nothing worse than being in the dark about having a bad accountant who doesn’t handle your financial information correctly.
Fraud is a recurring nightmare in insurance agencies worldwide. For decades, insurance companies have been deceived at the hand of customers and everyday people. The victim can be easily deprived of money in a matter of days. This formulates a resolution process that can be lengthy, expensive, and time consuming. The main question is how can our mobile devices stop and prevent insurance fraud.
Tech Support is getting in on the video action! In our debut episode of the Tech Support Vlog we discuss the all-too-often overlooked web browser, Internet Explorer.