The Impact of the Pandemic on the Insurance Industry
The insurance industry has already had to make some uncomfortable shifts. Businesses have downsized or closed, and claims against carriers are coming from every direction.
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The insurance industry has already had to make some uncomfortable shifts. Businesses have downsized or closed, and claims against carriers are coming from every direction.
The pandemic of 2020 will impact the economy in ways that we have yet to understand fully. The insurance industry is certainly not insulated from this.
BlogHelpful Tips: For Employees
While some businesses have had to close permanently, some have found success despite the pandemic's challenges.
As so many made the transition overnight, being able to effectively move all operations from inside the same building into everyone’s homes has been difficult for both agencies and their employees.
As access to people and businesses has been difficult, producers have faced the challenge of attempting to create and build relationships with prospects.
The wrong environment can send the wrong message to both employees and clients, it can present a challenge when an owner doesn’t see the problem the employees are staring at every day.
Turning a blind eye to poor performance is damaging to both the culprit and the other employees having to pick up the slack of their co-worker.
BlogHelpful Tips: For Employees
While calculation and payment are typically straightforward, there can be issues in any areas of the bonus agreement that are ambiguous.
While meetings occur with different parties for different reasons, the carrier marketing rep meetings can be particularly challenging.
BlogHelpful Tips: For Employees
Early in your insurance career it can be challenging to understand all the ins and outs of how an agency operates.