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Practice management

‘Insurance industry doesn’t measure up’ to others


By Kathryn Mayer, September 4, 2014 What does practically every other industry have that the insurance industry doesn’t? A connection with its consumers. That’s one reason Americans are, well, just not into insurance, argued Maria Ferrante-Schepis, managing principal, insurance and financial services at Maddock Douglas and co-author of the book “Flirting with the Uninterested: Innovation in a Sold Not Bought …

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Conquer the Enemies of Your Inner Leader


As insurance professionals, it’s easy to get caught up in the day-to-day. We tend to focus on the outcomes for which we will be measured—from loss ratios to closing ratios and regulatory compliance—instead of emphasizing the activities that may lead to greater leadership, fulfillment and achievement. By its very nature, insurance is analytical. In the midst of all the “i” …

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Use the 80/20 Rule to Grow Your Business


If your business isn’t growing, you need to get a handle on the way you’re running it.  Many insurance agents tend to spend a great deal of time performing unnecessary tasks that contribute little to the growth of their business.  The 80/20 rule, otherwise known as the Pareto Principle, teaches that only 20% of your actions should lead to 80% …

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Social Selling in the Insurance Industry: My Takeaways from LIMRA/LOMA Social Media ’14 Conference


By Michael Idinopulos, August 27, 2014 It’s the dawn of a new day for social in the insurance industry. I spent last week at LIMRA/LOMA’s Social Media conference in Boston. I always like LIMRA events. As an industry association, LIMRA convenes a high-powered group of insurance executives. It has traditionally been a refreshingly open and non-commercial environment, where industry leaders …

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7 Sure-Fire Success Principles


Success is something everyone wants but only a few achieve. However, it doesn’t have to be that way. No matter where you are in your career, from job seeking to having held the same position for an extended period, there are principles you can apply to ensure your success. Below are seven sure-fire success principles you can start using right …

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It Takes the Right Tactics to Improve Sales Performance


In Lee Child’s Without Fail, a Secret Service official simplifies a disturbing problem. “If the Yankees come to town saying they’re going to beat the Orioles, does that mean it’s true?” And then he adds, “Boasting about it is not the same thing as actually doing it.” It’s the same with sales. There’s often too much boasting and not enough …

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The Insurance Industry Is Risky. Federal Regulation May Be the Answer


By Peter Coy, July 31, 2014 Insurance in the U.S. is a big deal that’s regulated like a small deal. Insurance premiums paid each year equal about 7 percent of the U.S. gross domestic product, and companies such as American International Group (AIG) and Prudential Financial (PRU) rank among the biggest financial institutions in the country. Yet oversight of them …

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What It Takes To Be On Top and Stay On Top


Financial professionals and entrepreneurs are rarely happy with moderate success.  Some business people tend to relax once they have earned a certain amount of money, but having spent so much time and effort getting your business to this level, why not take it all the way to the top? The task may sound daunting and it undoubtedly is, but it’s …

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Tips for Your Next Networking Event


Networking is the art of building and sustaining mutually beneficial relationships. The goal of networking is to communicate with a stranger and make a connection.  Depending on the firm you work for, networking events may be mandatory for you to attend, so it’s good to look for ways to make networking easier for you and more comfortable. When you are …

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Attaining Our Goals: Every Day is an Audition


If you asked me what my future job would be five years ago, I would have said car salesman or prison guard. At the time, I was working as an outside sales force for a website design firm, and doing well, but not as well as I would have liked.  Then, one day I walked into a State Farm Agent’s …

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