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We all know that happier workers are more likely to deliver great customer service and stick with your insurance agency over the long term. But did you know that for most people, money can’t buy workplace happiness? Research shows that making employees happy is more than just paying them a good — or great — salary or giving them a raise.
Insurance fraud harms everyone involved: the insurance customer, the insurance agency, and insurance companies. The Coalition Against Insurance Fraud (CAIF) reports that nearly $80 billion per year is lost because of insurance fraud.
In operating a successful insurance agency, an area of key importance is developing an employee training program. All employees should have in-depth knowledge of insurance. You will want producers and other employees involved in selling insurance to obtain an insurance license. Other training could also be beneficial, including sales and customer service training.
If you’re like most Americans, you have amassed quite the collection of financial documents, including receipts, invoices, pay stubs, bank statements, utility bills and old tax returns. Most can be tossed after a certain period of time. But there are some things that you’ll want to consider keeping forever. Here are some of them:
An insurance producer is hired to find new prospects for an insurance agency and turn those prospects into clients by convincing them to purchase an insurance policy. He or she may be designated as an employee or as an independent contractor. There have been legal rulings both ways as to the proper classification of insurance agents/producers. Does it matter which classification you choose? It does matter. Here is why.
Do your insurance agency employees have job descriptions and titles? They should! It can help to clarify potential issues as your agency grows and you expand your staff. Let’s look at how to start this process.
We all make mistakes. To err is human, right? However, if you are a business offering professional services, such as an insurance agency, those errors can be costly! Errors & Omissions (E&O) insurance is designed to cover damage caused to clients by negligence, faulty advice or other failure of duty acts.