help retail agents with product information, training, online tools, broad market knowledge, Spanish-language enrollment support, and preparing applications for processing, exchange managers say.
He said that this began the pattern despite the fact that a survey by one insurer prior to establishing its counter, made it clear that it could not do the business as inexpensively as the general agents
were doing it.
based Concord General Agency and president-elect of the American Association of Managing General Agents
But that answer seemed far off, leaving wholesalers and managing general agents
wandering through a hall of automation and technology mirrors.
Experiences during the past two years have convinced me that retail agents, wholesalers and managing general agents
need help and advice in running their businesses, and the solution is to form strategic advisory boards for their privately held corporations.
Scottsdale, a member of the Nationwide Group, specializes in excess and surplus coverage distributed through general agents
, who perform much of the rating, quoting and issuing in their own electronic environment, Deibler said.
They could be independent managing general agents
who represent multiple companies or, in some cases, they are both.
In the past, most insurers have accessed these channels through brokerage general agents
or independent marketing organizations, particularly to sell fixed products, such as universal life and term life.
Life/health general agents
, property/casualty managing general agents
and other managing general underwriters are developing this new business model.
The American Association of Managing General Agents
says it plans to open membership to the entire wholesale insurance community and is changing the association's name for the fourth time in its history.
Within the last 40 years, the number of households that have agent-sold life insurance and the number of full-time general agents
decreased by 30%.
Ferrara Associates are general agents
representing Guardian Life Insurance and will use their new Cranford location as their main headquarters.