TIKI Blog

November 12, 2011

Auto Insurance Agents

Filed under: Agents and Agencies,Insurance — MarieAnggam73 @ 5:57 am

Different types of insurance are available and apparently, for every type of insurance there are corresponding insurance agents. Auto insurance agents have the exact skills to give knowledgeable and competent service to their customers.  In this kind of business, a lot of companies are competing to gain more customers and provide them different policies that suit their needs.

Insurance agents are very much helpful in choosing what type of insurance policy is needed by the future policyholder. They serve as the guide in whom people can trust that they will choose the right policy for them and also the policy that would fit in their budget. There are actually two kinds of insurance agents namely the independent insurance agents and those agents who are engaged in companies. For auto insurance agents, they help those drivers and car owners to purchase the right policy that provides the right coverage for them. The usual coverage of auto insurance is the damage, financial assistance for the accidents that might happen unexpectedly and an assistance which will help the third party in case of injury brought by sudden bump or anything.

Insurance agents should be more responsible enough to handle all the things needed to be done before purchasing the policy for the future policyholder.

November 6, 2011

Marketing Ideas for Insurance Agents

Filed under: Agents and Agencies,Insurance — MarieAnggam73 @ 3:36 am

The marketing ideas for insurance agents can help them to expand their business at a faster pace and earn a good amount of money in the form of commissions. Insurance agents are the people who work for large insurance companies and do the task of selling the insurance policies to the customer for these companies. These agents get paid on commission basis. This means that more the business generated by the agent for the insurance company for which he works, more would be the amount earned by him in the form of commission. However, for generating more business, knowledge of the marketing ideas for insurance agents is absolutely essential. Good marketing is necessary for any business to succeed and insurance marketing is no exception to this.

Marketing ideas for insurance agents include meeting many of potential clients and explaining to them the benefits of the insurance policy. Generally, it has been observed that there are many doubts in the minds of common people regarding insurance. The insurance agents have the responsibility of explaining to them what insurance is essential, how much the insurance cover should be, what will be the benefits to the insurance, what would be the premiums and the terms and conditions related to the insurance policy. Answering all doubts related to insurance is a must for the insurance agents and for this, they should be knowledgeable enough. These agents can keep their knowledge up-to-date by attending educational sessions organized by the companies for whom they work.

Providing good service to the existing clients is imperative to succeed in the insurance marketing business. So, you should stay in contact with your existing clients by sending those e-mails and post cards and informing them about the due insurance payments, the status of their insurance policy, information regarding new insurance policies launched in the market and etc.

October 30, 2011

Independent Insurance Agents

Filed under: Agents and Agencies,Insurance — MarieAnggam73 @ 9:17 am

Nowadays, the world is never the same as it was before. Unlike before wherein our ways of living before is simple and peaceful, we are now facing a more threatening and difficult world. Not only because our ways of earning a living is tougher than that of before, but also because of the extreme violence that keeps on happening on almost every part of the world. Because of these things, it is surely a tough challenge for us on how to live our lives at its best.

Insurance companies employ thousands of insurance agents who operate across the state to reach as many clients as possible. Agents also allow insurance companies to cater to the specific needs of the clients on a more personal level. They are the ones who interview the insurance buyers. From the details that they will get about lifestyle and preferences, they prepare an insurance plan and policy for the buyer. Like personal shoppers, they help you choose the best deals in insurance coverage and help customize the product to better suit your needs and budget. There are two kinds of insurance agents. One is the captive agent who works for only one insurance company and cannot give you information on the other alternatives. And the other is the independent insurance agents who offers and sells policies for more than one insurance agency.

For a business or individual with a lot of insurance needs, you may prefer to have an independent insurance agent. This insurance agent will surely give you a list of insurance products and even provide you comprehensive comparative analysis that will help you decide the best insurance policy for you and your business.

October 21, 2011

Insurance Agents Work Description

Filed under: Agents and Agencies,Insurance — MarieAnggam73 @ 9:30 am

Nowadays, having insurance is very essential to assure the financial needs of the insured individual. A lot of financial companies are in the insurance business to provide the needs and necessities of individuals. With the help of insurance agents, the processing of insurance purchase becomes much easier for they are usually connected to the insurance company where insurance are bought.

Knowing the insurance agents job or work description will be a better source of information on how they work, how is their salary made, and other benefits that they could get from their job so as to help you determine if you have chosen a good insurance agent to handle you insurance purchase. Insurance agent jobs are becoming popular with an increasing number of people looking towards insurance as a career. Insurance agents can work for agencies, brokerage firms, and insurance companies or work as independent insurance agents. An understanding of insurance agent job description is necessary for prospective insurance agents, before taking the plunge into insurance careers.

Insurance agents provide help to individuals and companies to choose a policy suitable to their needs. Insurance can be grouped into categories such as life insurance, medical insurance, property insurance, etc. Insurance agents are not only involved in selling policies but also prepare reports, maintain records and seek new clients along with other works. An important role of insurance agents is to help beneficiaries make claims when the policy matures or the insured person passes away.

Insurance agents work as agents, selling products of an insurance company or sell different policies, for different companies. Insurance agents can specialize in particular fields such as life, property liability, health or disability and other insurance policies. Insurance agents also sell financial products related to insurance policies and other products related to insurance.

October 7, 2011

Becoming Good Insurance Agents

Filed under: Agents and Agencies,Insurance — Tags: , — MarieAnggam73 @ 9:39 am

In every insurance company, there will always be an insurance agent. There are two types of insurance agents which are the independent and contract agents. Insurance agents are known or often referred to as “producers” in the insurance industry. These people play an important role in the businesses and even in the lives of individuals.

The common role of insurance agents is to help people gain the essential coverage that they need. Insurance agents work under insurance agencies or are appointed by insurance carriers. Sometimes they work by themselves and look for clients that would like to meet and discuss their insurance needs. In order to become one of the good insurance agents, the person must possess a good outgoing personality as well as having superior mathematical skills and must be updated with every change happening in the insurance industry.

In become a trusted and licensed insurance agent, you must have the knowledge of all categories of insurance such as:

  •  Life Insurance (Life License)
  • Health Insurance (Health License)
  • Home Insurance (Property License)
  • Auto insurance (Casualty License).

Finishing a bachelor’s degree in either business or economics is a great advantage for most insurance agents. Insurance Agencies prefer agents to have a bachelor’s degree in either of those those two courses. Being familiar with the computer software being used by the insurance company will also give you a great advantage. For newly hired insurance agents, they are expected to pass the state’s exams which will give them an insurance license. In addition to becoming a licensed insurance agent, obtaining optional certifications is a great way for you to become a good and effective insurance agent.

The duties of insurance agents have never been easy. Dealing with different people and showing them the importance of having insurance can only be done by people with great self confidence and high interpersonal skills.

March 9, 2010

Motorcycle Insurance Carriers in New Jersey – Insurance Companies in NJ

Motorcycle Insurance Carriers in New Jersey – Insurance Companies in NJ

Aegis Security Insurance Company 1-800-233-2160
P.O. Box 3153
Harrisburg, PA 17105-3153
Allstate New Jersey Property & Casualty Insurance Company 1-866-222-4586
American Family Home Insurance Company 1-800-759-9008
(American Modern Insurance Group)
Drive New Jersey Insurance Company 1-800-PROGRESSIVE
Foremost Insurance Company 1-800-527-3905
P.O. Box 2450
Grand Rapids, MI 49501-2450
Foremost Property & Casualty Insurance Company 1-800-752-2461
P.O. Box 2450
Grand Rapids, MI 49501 – 2450
GEICO Indemnity Company 1-800-44-CYCLE
One GEICO Plaza
Washington, DC 20076
Liberty Mutual Mid-Atlantic Insurance Company 1-800-526-1547
Pacific Specialty Insurance Company 1-800-303-5000
Progressive Freedom Insurance Company 1-800-PROGRESSIVE
Rider Insurance Company 1-800-595-6393
P.O. Box 3141
Union, NJ 07083

February 13, 2010

How Do I Become A Licensed Insurance Agent?

Filed under: Agents and Agencies — Tags: , , , , , , — TIKI @ 12:33 pm

First Steps to Becoming an Insurance Agent - What Type of Insurance Would You Like to Sell

  • Property & Casualty – P&C  
    • Any kind of vehicle that requires a license ( Commercial Trucks, Personal Cars, Boats, Planes, Farm Equipment, Wave Runners, ATV’s, Classic Cars ) and in some cases no license ( Go-Karts, Golf Carts )
    • Any kind of structure ( Home, Condo, Townhouse, Apartment Complex, 2-4 Unit Rental Properties, Malls, Warehouse, Industrial Buildings )
    •  Jewelry, Personal Items ( Engagement Rings, Expensive Equipment )
    • Liabilities that occur as a results of a properly insured vehicle or structure
    • Floods ( Flood Insurance is a completely separate type of insurance required to protect your home from Floods, all lenders require this type of insurance if your home is classified )
    • Workers’ Compensation
  •  Health & Life
    • Medical Plans ( Includes Medicare and Medicaid Supplements )
    • Dental Plans
    • Life Insurance ( Term and Whole Life )
    • Prescription Drug Plans
  • Title Insurance
    • Lender’s Policy ( All mortgage companies require this type of Title Insurance )
    • Owner’s Policy
    • Construction Policy

What’s Required to Become Licensed as an Insurance Producer?

Insurance is regulated by each individual state. Each state requires a written test to be taken, where the test is graded on a Pass or Fail system. Passing grades in most states are a score of 70 or higher, which is not too tough.

Every state typically has prerequisites that you must complete before taking the insurance test. The prerequisite requires you to attend an official insurance learning class or to purchase online software that you must complete. Every insurance line requires 20 hours of study time, so if you are going for your Property & Casualty license, you can expect to put in 40 hours in just required studying.

What to do After I Pass the Insurance Test

Once you pass your insurance test, you then have to find an agency to hire you or you can start your own insurance agency. Insurance can be very complicated and expensive for rookies, so it’s recommended to work for an insurance agency before you try to start your own.

When you do decide to start your own insurance agency, you will have to register your insurance agency with the state you wish to write insurance policies. Many states will require that you have a ”Brick & Mortar” location for your insurance agency, this location cannot be your home address. Then you will need to obtain Errors & Ommission Insurance ( E&O Insurance ). E&O Insurance is required by all major insurance carriers, $1,000,000 in coverage is typically needed by AIG and the other major carriers. $1,000,000 in E&O coverage should run you between $3,000 – $4,000 a year for a 1 person agency. E&O Insurance becomes much cheaper as you gain experience under your belt.

After registering your agency name, leasing an office space, and obtaining E&O insurance…you need to sign insurance carriers. Insurance carriers are very hesistant to sign with a new insurance agency that has no book of business and has little or no experience in the insurance industry. Your best bet is to find a Managing General Agency ( MGA ). A good MGA gives you access to all the big name insurance carriers; such as Progressive, Liberty Mutual, AIG…and allows you to keep your book of business. MGA’s may charge you a small monthly service fee, such as $10-$25 per insurance line, but it’s well worth the price if you are serious about breaking into the insurance industry.

For you internet insurance guru’s, check out http://www.agentsecure.com, I personally do not use an MGA at this time, but I like how Agent Secure provides online access to obtain insurance quotes for your clients. However, the only downside is there limited market place in many states. You always want to have at least 2-3 competitive, well-known insurance carrier options to offer your clients.

TIKI Insurance