GLG News by Employee Benefits Experts

The country spends an inordinate amount on health care for people who experience conditions and illnesses that could have been prevented.  IBM recognizes the importance of Prevention as a mainstay of their health program. Prevention and Wellness companies are the future of health care delivery

    A very old agent once said, "I have learned that in this business you need to specialize." Somebody else once said, "Get a high tolerance for ambiguity, you will be a lot happier." That is good advice for agency entrepreneurs. It definitely takes a horse of many colors to successfully...

How hard could it be to start an insurance agency and make it profitable?Would it be wiser to learn first under mentors?

Insurers and Agencies must change their marketing philosophies and evolve into high volume insurance retailers, not only to grow but survive.

With the majority of carriers filing for rate decreases nationally, this proves to be a great time for the customer, insurer and agency.How can the carriers do it? What happens to those few carriers who refuse to follow the current market trend and adjust their business plans?

Staff will do all they can to ensure the growth and profitability of agency in which they have a vested, financial interest. Staff whom have such a benefit will stay longer as most competing agencies (meaning those competing for experienced insurance professionals) do not offer lucrative benefit packages...

    Great points about brokers being required to place business to maintain appointments, and also the increased costs associated with licensing compliance of a large stable of agents. Regrettably, neither of these carrier costs can me passed on legitimately in a "service fee" the...

Anyone would agree that bid rigging is criminal. Even that water gets murky if a broker purposfully targets bids to a preferred carrier, and then to other carriers already known to be denying new business.  The same can be said if a broker intentionally bids carriers already known to be super high...

The  Marketing-Underwiter or Broker-Underwriter balances selling with competitive rating.  Many carriers have learned the hard way that it tends to win a lot of underpriced business.       The issue of independent brokers being compensated by the carrier...

It is very unlikely that 2% service fees for membership cards, and claims administration will match lost prohibited production and profit sharing revenue volume. September 2007 Ohio sues Zurich, Travelers, Chubb, Marsh Hartford and Ace on Anti Trust.  Carriers are insulated, but brokerage houses...