Distinguished Blog - Market Insights
Market insights and industry news.
From the Runway to the Closet: Insurance for Luxury Handbags, Couture Clothing
The luxury handbag and couture clothing markets have become a booming industry for collectors and investors. The global market for designer handbags was valued at $72 billion in 2022 and is projected to reach $100 billion in 2027, according to Business of Fashion. The global couture clothing market was estimated at more than $11 billion…
Explore Topics
Part II: Building a Great Sales Team: Sales Training Vendors, Approaches
In a previous article on developing a new agent sales training program, we provided an overview of the benefits of training and what makes a successful program. Here we take a high-level view on the various sales training vendors and many of the approaches available for the insurance industry. While on-site training and workshops are…
Podcasts Every Broker Must Listen To
As quarantine continues, many are left stuck at home wondering what to do with their free time. We’ve rounded up a list of podcasts that every broker must listen to, to either fill the workday silence or teach you something new. Each podcast’s title is linked to the web page where you can learn more…
Remote Work Cybersecurity Best Practices
Hacking activity is up, with cybercriminals taking advantage of remote work vulnerabilities amid the COVID-19 crisis. There are approximately 85 million Americans working from home. In fact, researchers cite that activity against corporations in the United States more than doubled by some measures in March, with malware infections, phishing tactics ,and ransomware running rampant. That’s…
How Have Salespeople Adapted to the New Normal?
When we rang in 2020, did we ever in our wildest dreams (nightmares) consider that social distancing, shelter-in-place, safer-at-home, facemasks, quarantine, and lockdown would be everyday actions we’d take in our personal and work lives? Most of us considered remote work, well, “remote.” Sure, we used Go to Meeting, Google Chat, and other platforms to…
Do Good and Raise Your Brand Awareness
Brand awareness describes a target audience’s familiarity with and recognition of a brand and its products. Establishing brand awareness is essential, as it increases understanding, trust, and recollection of a company among target demographics — ultimately increasing sales.
Your Simple Guide to InsurTech Terms
The explosion of InsurTech continues to gain traction with more startups and new products being launched. Earlier this month, for example, Lloyd’s of London announced it is fast-tracking three startups to bring to market more quickly COVID-19 related products and innovations. InsurTech Lemonade announced it raised $319 million for its IPO; the company provides insurance…
How to Have Difficult Conversations with Clients
Most of us tend to shy away from having tough conversations, particularly when we know that what we’re about to say will be a hard pill for our clients to swallow. But straight talk and transparency bring respect and trust, particularly now more than ever when there is so much stress and uncertainty as we…
The Value of an Insurance Sales Training Program
Whether you’re hiring new producers for your agency or looking to up your sales game with your existing team, providing comprehensive and regular sales training will support your efforts. Even the most seasoned producers and client service reps will find valuable sales techniques to use in their approach in gaining new customers and retaining clients.
LinkedIn Offers the Insurance Industry More
Harnessing the power of LinkedIn in the insurance industry not only builds connections, but it grows your business. If you’re using it the right way. LinkedIn continues to be the world’s largest professional business networking platform—with 660+ million users in 200+ countries. Understanding LinkedIn’s power—and more importantly, how insurance brokers can benefit from it—is as…
Why Do Your Clients Need High Limits?
Over the last decade, we have seen a litigation landscape with nuclear verdicts running in the tens and even hundreds of millions of dollars, fueled by an aggressive plaintiff bar and anti-corporate sentiment that continues to gain momentum today. Jurors are made to feel that someone needs to pay – and pay big – in…