Another market of concern is out-of-area clients who may have been payment or claim problems to local brokers and attempt to find a distant broker to provide coverage instead of making the necessary adjustments in their own lifestyle to prevent claims.Clients who have moved repeatedly can be difficult to obtain proper underwriting information and past claims experience on, and we feel our staff is to be commended for their ability to properly assess if a client should be placed to our standard markets or would be better served by a specialty company.Tags: Portrait Photography Business PlanResearch Paper On Sustainable DevelopmentBibliography AnnotatedEssay Tsunami JapanNano Car Research PapersSpace Exploration Advantages EssayBest Nonfiction EssaysCanadian Business Plan TemplateSchool Culture DissertationPersuasive Essay Book Report
Smalltown has two independent brokers and a Co-Operators agent, Nexttown has two independent brokers, and Southtown has one.
We have just started to see some move by locals to "Silver Power" and other specialty retailers who advertise on radio and television. The main volume of income for our brokerage is generated by automobile premiums because they are relatively higher priced to insure than property, and because automobile insurance is mandatory in the region.
Recent demographic studies in our area reveal a total year-round population of approximately 13,000, which rises in the summer to approximately 25,000.
We have a relatively high number of seniors and many younger, newly-formed families dependent on government assistance living mostly in a rural, unserviced, thinly populated area. Long distance phone bills represent our second largest expense (our two offices each have their own toll free phone numbers) and the cost of visiting our insureds to do home inspections is time consuming due to the large area we service.
They trust our judgement in selecting the proper coverage and company to place them in.
The new federal government is close to adopting a new automobile contract that hopefully will make it affordable, understandable, and available to our clients.Insurance fraud has become a major issue for the entire insurance industry.Our traditional close relationship with our companies has been strained.Our target market is the seniors, family business, and middle income earners in our area.Statistics show that over 42% of our permanent population is above 45 years of age.We are fortunate that we have not yet had the intrusion to a large degree of mass merchandising programs like "Silver Power." Smaller brokers have made inroads into our traditional rural business, with low cost farm markets that sell home and auto insurance.We understand that some of these markets are in a poor financial position and may cease to be a factor in the future.As stated previously, our success is dependent on our staff and our companies convincing our clients and prospective clients that price, although important, is not the only criteria for the purchase of insurance.Our advertising stresses that we have two offices, open six days a week with after-hours support and we have been an active, concerned, community involved, local business since 1938.Still, price is very important and we must work with our markets to ensure that our insurance products are available and affordable to a large part of the market.It is the broker's job to ensure the client understands what he is buying, and if circumstances dictate a lower-priced product, we must make our insured aware of the trade-off in coverage versus price. Johnson, Rob Champlain Strengths - alternate markets, especially small farm mutuals, that still continue to give low prices, still continue to write wood stoves, and allow discounts and underwriting terms such as table 1 rates on homeowners within 8 km of fire hall protection.