Insurance Operations- Chapter 3

1.     Summarize how the insurance needs of small business can be covered.

2.     Describe the factors that influence an insurer’s decision regarding the geographic area it serves.

3.     Contrast primary data and secondary data used for insurer market research.

4.     Describe four common bases of market segmentation.

5.     Describe two major marketing information systems.

6.     Explain why ownership of expiration lists is an advantage to an independent agency.

7.     Describe the benefits an independent agent network can offer to its members.

8.     Surplus lines brokers have access to insurers that have the capacity to provide insurance for specific customers or exposures that might otherwise be uninsurable. List five such customers or exposures.

9.     Name six methods producers use to locate prospective clients.

10.  Describe how assessment of its internal strengths and weaknesses can help an insurer in the selection of distribution systems and channels.