Auto Insurance License Test
Is Auto Insurance License Test still profitable like before?
Auto Insurance License Test has different types of insurance products available. It covers the personal items such as your car (car insurance) or your home and personal belongings (home insurance). Also, the activities you carry out, such as your vacation (travel insurance). It can also cover the different variations such as young driver insurance and convicted driver insurance, or non-standard home insurance.
According to Insurance Information Institute (III) in 2018, the Net Premium Written (NPW) for personal lines amounted to $329.8 billion. That is 53.5% of total NPW. However, turning tides show the growth shifting to commercial insurance. Also, if becoming an independent insurance agent is on your list then adding to sell commercial insurance line should also become your priority.
Auto Insurance License Test
As per, First Quarter Financial Results of 2020 by Insurance Information Institute, the growth rate of NPW for personal lines is 3.0 percent. Whereas, the commercial lines growth rate grew by 12.1 percent. In the first quarter of 2019, the growth percent for commercial lines was -9.3 percent. List yourself on an agent directory so that your prospects can reach out to you easily to get in touch.
Selling Auto Insurance in P&C
If you sell insurance of personal lines, then you should revise the modes to better target the commercial market. The following tips is helpful for any insurance agent who seeks a firm foot in the commercial insurance market or wants to know how to sell insurance in the commercial line.
- Start with intense research to locate your prospects. Do not focus only on referrals.
- Understand the specific business needs and forecast the upcoming risks at a much in-depth level with the help of an insurance cluster.
- Gather information on the total employees, business disruptions history, safety measures taken by the company, and the impact on workers’ remuneration.
- Give newsletters and arrange webinars through an insurance aggregator to make sure your client remembers you.
- Don’t ignore post-sales service to make your clients feel better about themselves. This is the best way to cross-sell or up-sell other insurance policies.
Focusing on only one line under property and casualty insurance can slim chances of survival in the cut-throat insurance industry. Also, the growing competition of personal insurance in Indiana has also made sure that the competition is tightly secured in the state of Indiana as well. Therefore, commercial insurance has lots of opportunities to explore and is not as rigid as personal insurance. Auto insurance license test was always the golden child in the industry, but commercial insurance seems speeding up to match the level of it. Know more about Auto Body Insurance Adjuster Jobs in this blog.