March 2009 Archives

How to marketing your Insurance Agent Site

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Here is some tips for you to do the online marketing for your Insurance Agent Site.

1) Submit to Insurance Directory
Yinac Insurance Directory.
G2links Directory - Insurance Category

2) Join some Insurance Forum
You need signup to get an account. Then participate into the topic. Put your site as signature.

3) Browse Insurance Blog, and leave your comment.
Normally it will show your site there.

It takes time. You may not see the result right away.

Loss reserves for the U.S. property and casualty insurance industry may have depleted by up to US$14 billion in 2008, according to a new report by Moody's Investors Service.
In its report, U.S. P&C Insurers' Reserve Adequacy Shrinks, Moody's estimates the U.S. P&C industry carried about US$5 billion to US$12 billion in excess loss reserves entering 2008. As of the end of the third quarter, about US$9 billion of this had been depleted.
"Based on an early look at regulatory financial statements, the pattern of reducing loss reserves accelerated in the fourth quarter, with a total of about [US]$14 billion in reserves being released for the year," says the report's author, vice president Paul Bauer.

Investors acquire ING Canada

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ING Canada is rebranding as Intact Financial Corporation following the acquisition of the company from its previous Dutch owners.

The now wholly Canadian company owns online insurance brand Belairdirect, 50-plus insurer Grey Power, and a brokered insurance division called ING Insurance, which is also being rebranded as Intact Insurance.

Last week, Canadian investors acquired ownership of ING Canada from Amsterdam's ING Group for approximately $2.2 billion. Its new brand won't be made official until it is approved by shareholders in May, but the brokered insurance division's rebranding is effective immediately.

"By becoming a truly Canadian and independent organization, we have the unique opportunity to launch a new brand that speaks to what consumers are looking for from an insurance company, and a brand that reinforces our customer orientation," stated Charles Brindamour, chief executive of ING Canada.

The Intact name comes from branding agency GWP, which has been working with ING companies since 1996. GWP is the longtime agency of record for ING Direct, the consumer bank that remains in the hands of the Dutch ING Group. The Toronto agency has also worked on and off with other ING brands, including Grey Power and ING Insurance, on various positioning projects.

While GWP is not the agency of record for Intact, its executive creative director Philippe Garneau said his company is "working hard to become indispensable" to the insurer by managing its brand while the new owners reorganize the client-side marketing team.

According to a release from ING Canada, "[Intact] will roll out in the upcoming weeks a comprehensive rebranding, marketing and advertising campaign across the country that will also benefit its network of 1,800 insurance brokers across the country."

It claims an 11% share of the fragmented Canadian market for property and casualty insurance, and Brindamour has hinted at plans to grow further through acquisitions. ING Group, meanwhile, still owns ING Bank of Canada, a separate subsidiary operating as ING Direct. --Jeromy Lloyd with files from Canadian Press

Handle insurance yourself

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As we know, insurance will cover you when something happen, just like an umbrella.

Do not turn too much over to a junior. If you do, it may cost your firm a lot of money. A junior can do very little that's really important.

You can be relieved of some routine chores such as making certain that endorsements changing your policies are received and liability insurance cards for new vehicles have been obtained; however, the junior cannot be expected to know when a change in your business or a purchase may necessitate altering one or more policies or buying a new one.

So, let a junior look after the minor details, but keep the control in your own hands.

It is so important. If the material change in your firm, but not inform insurance company, it may void your policy.

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