Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
For new general insurance brokers, one of the biggest challenges is to learn and remember their products and coverages from multiple insurers. All of the insurers offer a similar base product with a variety of optional add-on coverages and limits. Although, additional coverages are optional but extremely important to have as a part of the […]
The post Know what you sell; Product Knowledge appeared first on Ehsan Rasul.
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How we define value. Value is emotional not logical. Each individual has his/ her own standards, expectations, needs and wants to determine the value of a product. If a client believes that she has made a profitable exchange and received more in return for what she paid for, the product becomes more valuable to her. On […]
The post Adapt to change & Offer great value (Part 2) June 20, 2018 appeared first on Ehsan Rasul.
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Canadian Brokers understand that Contingent Profit Commissions (CPC) are a device that insurance companies use to reward good front-line underwriting, volume of premium business placed and some good claims luck. In simple terms, the better your loss experience and the…
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When a homeowner gets water in the house, they call it a flood. It doesn’t matter to them how it happened (pipe or municipal water main break; toilet, water heater, dishwasher or washing machine failure; seepage; sewer backup; riverine; storm…
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Most of the time, our focus is to close the sale before our competition gets it. All we want is to add another number in front of our name. Sometimes, it’s the pressure from our employer that forces us to write more and more policies to win a competition or our own desire to be […]
The post Broker success rule #1 It’s not what you sell, it’s whom you sell. (Part 1) appeared first on Ehsan Rasul.
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Being an independent catastrophe adjuster is not easy. You get phone calls in the middle of a family celebration and are asked to drop what you’re doing, pack your equipment and head 4,500 km to work field claims in a…
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When illustrating the general trend in disaster losses just a handful of graphs tend to get used the most. When showing the international trend, the most frequently used exhibits are those published by Swiss Re and Munich Re. For the…
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Becoming a general Insurance broker is relatively easier and quicker than any other professional career in Canada. We just have to meet the minimum educational requirement, study couple of books and pass the entry level exam in order to become a licensed general insurance broker in a particular province or territory. But our real test […]
The post Why broker training & mentoring is crucial for success? appeared first on Ehsan Rasul.
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In human history, we have seen three major revolutions. Agricultural, Industrial and communication revolution which includes computers and internet. Now we are standing at the cusp of 4th revolution which is Artificial Intelligence, beyond analogs and computers. What we are facing now is a whole new ball game that we have never seen before. […]
The post AI- The 4th revolution, are we ready? appeared first on Ehsan Rasul.
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History tells us when ever we mix politics with business, results are nothing but economic devastation and complete collapse of free enterprise. This experiment was done many times in the world’s history when governments jump into running factories, food chains, phone companies, banking and even insurance, but failed again and again. It happened in Soviet […]
The post Insurance system in Alberta, fix it please appeared first on Ehsan Rasul.
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We, as Insurance brokers wear many hats. Sales person, underwriter, entrepreneur, and above all, an insurance professional. We often find ourselves at the crossroads when our business interests collide with our professional obligations. We have to make difficult but crucial…
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We demand and expect loyalty in every segment of our lives. Whether it’s business or personal relationships, loyalty is a virtue that is always appreciated and demanded. In insurance business, where products are intangible and quite similar in many ways, competition is tough and only few clicks away, it’s difficult to attract and retain clients. […]
The post Loyalty, we demand appeared first on Ehsan Rasul.
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Most of the time we are too busy selling insurance products matching with client’s requests. A prospect ask us for Auto, Home or Business Insurance quote and we quickly jump on it and start preparing the best quote possible to beat the competition and close the sale. Sometimes, when I pause for a few seconds […]
The post Selling Solutions, not products appeared first on Ehsan Rasul.
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The market for property and casualty (P&C) brokerages continues to be intense. Books of business are attracting prices from 3.5x to 5.0x commissions – and even more for online business. So, are conditions right to start seeing more management buy-outs?…
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