11
Jun, 2020
an umbrella

3 Top Factors to Consider Before Becoming an Insurance Agent

An insurance agent is a company or an individual specialized in providing a link between insurance firms and those looking for insurance products. The growing demand for insurance products today across the globe has influenced many companies and individuals to venture into the business of offering insurance agency services. However, insurance agents just like any other professional entities have a duty to meet certain requirements and obligations before qualifying to provide their services to customers. If you have interest in becoming an insurance agent, the following are some of the considerations you should factor before opening your doors to start operation:

Accreditation

Before you begin practicing as an insurance broker, you have to comply with regulatory requirements governing the industry. For this reason, you must first seek for certification and licensing from an independent regulatory authority. The body in charge of regulation has the mandate to verify your documents of registration, code of ethics, and the professional qualifications before providing you with the license to start operating.

Should you fail to meet the requirements for registration and certification or should you fail to comply with such obligations, then you will be liable for violation of the law and will be subject to prosecution. You must meet all these demands for accreditation before you start receiving clients.

Target Market

The second element of effective service delivery in insurance agency is the specialization in a particular product line based on your market segmentation. The insurance industry is broad, and you will only offer quality service to your customer if you identify a market that you are knowledgeable about and have experience on as well as exposure. Therefore, take your time and analyze your target market to know the kind of product they prefer. Once you have established yourself in the industry, you can then choose to offer two or more areas of insurance policies.

Access

Another fundamental consideration before becoming an insurance agent is regarding the availability and accessibility of the insurance firms. You would want to offer your clients a wide range of options to choose from concerning the companies providing insurance services. The more of these organizations you can contact and link up with, the better your position is in the market over the other brokers. Hence, you should strive to have adequate penetration into the market so that you can give your customers the best deal possible.…

20
Feb, 2019
person checking documents

Tips for Choosing a Firm for Filling your PPI Claims

Most customers have been mis-sold payment protection insurance in the recent past. There are a lot of situations where individuals can reclaim PPI due to such unfair practices. You can find information on this online researching on mis-sold PPI claims. Customers most of the time wish to file their own claims, however, if you want to use a company that specializes in this field, here are some tips to follow when choosing one.

Payment

dollars

Most of these companies do not require upfront payments, but they will usually charge up to twenty-five percent of your awarded claim as well as VAT. This is called No Win- No Fee. You need to be suspicious of companies that ask you for upfront payments.

Customer Feedback and Reviews

This will allow you to see what clients say about the PPI claims company. These include how they handle questions, concerns and the claim, are they courteous and do they take time to explain and answer all your questions. See what positive to rejected outcomes are. You may need to discuss this with the company in person or via

Visit or Call the Specialist

ppi claimWhen you call or visit a PPI claims specialist, they will ask you some questions to ensure that you are even eligible to file a PPI claim. If they do not ask and say they guarantee a settlement without first making sure you qualify, then you need to move one.

Keep in mind that you can file the claims alone by filling out the necessary paperwork and getting all the facts together then sending them to your financial institution. You can also file with the financial services ombudsman if you have to. Note that banks use some tactics like denying or rejecting your claim. They can also make a FOB offer that is almost always much less than the compensation to which you are entitled.

Registration

Always ensure that the company you consider using is registered and authorized to file such claims by the Ministry of Justice. These companies must have an authorization number to be allowed to legally handle such claims.

Specialists in the field of filling PPI claims for people who were mis-sold payment protection have experience in dealing with banks. They know how to properly file for you and the amount of compensation to which you are entitled. Choosing the best financial claims expert will help you get your compensation.…