GLG News by US P&C Insurance Pricing Trend Experts

The growth of bancassurance is underway in many parts of the world, although still in limited sectors and product lines . In the United States, it's growth and success will depend on the markets ability to expand and improve the product line and distribution channels.

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...

I am in the middle on the author's comment and the response.  Those are both great points. However, the big concern here is bid rigging.

Banks and insurance agencies and brokerages have long viewed each others as natural allies, and acquisitions of agencies by banks have increased significantly in recent years. The recent disposal of insurance agency operations by Bank of America and JP Morgan suggest a reconsideration of their stra...

The global brokers have been challenged since the 2004 New York Attorney General's investigation to find new strategies to grow revenue to replace lost contingencies. One will not be successful: charging the underwriters.

Does Progressive's (PGR) consolidation of its Direct and Agency business units place added pressure on agency sales?  Progressive Insurance Company has been fighting fears of channel conflict for 15 years.  A recent UBS poll of agents brings the issue to the fore again. ...

Is it enough to hand out business cards, go to network meetings, tell everyone you know you're "in insurance" and work sixty hours a week for a policy a day? Should an agency principal invest the money and use the latest technology to promote the agency without the exhausting and often fruitless "face...

The matter of supplemental compensation for brokers continues to attract attention. It’s an important issue for the brokers because it impacts financial performance, acquisition and growth strategy, and client perceptions. However, while the middle-market brokers have made progress in moving beyond...