Archive for February, 2011
Insurance Companies Using Social Networks to Detect Fraudulent Claims
February 28th, 2011
Health care investigators are using social networking tools like Facebook and Twitter to detect fraud cases, says a new report from the American Medical Association (AMA). By taking a closer look at the people they insure, investigators are gaining insight into medical liability and other health care scams.
Investigators Are Watching You
Social networks have already become known as the hot spot for employers who want to conduct lightweight background checks on prospective employees, but now these sites are becoming more popular in other areas of business, particularly insurance companies that want to make sure policyholders receiving claims payouts deserve the money.
According to the AMA, now that social media sites like Twitter and Facebook have become immensely popular, and many of its users now feel comfortable enough to share the events of their day, companies have been able to follow their activities to determine whether those who are being paid claims are running health insurance scams.
The insurers initially gain access to patient sites by using online profiling during the underwriting process.
Tags: Detect, Using Social
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Best Affirms Endurance Specialty and Subs ‘A’ Ratings
February 25th, 2011
A.M. Best Co. has affirmed the financial strength rating of ‘A’ and issuer credit ratings of “a” of Endurance Specialty Insurance Ltd. and its affiliates. Best also affirmed the ICR of “bbb” and debt ratings of the publicly traded parent company, Endurance Specialty Holdings, Ltd.
The outlook for all ratings is stable. All of the above companies are domiciled in Bermuda.
The ratings reflect Endurance’s “strong level of risk-adjusted capitalization, solid historical operating performance over the last few years and its specialty focused, diversified business profile,” said Best. “Over the last fe
Tags: Endurance Specialty, Ratings
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Veterans Benefits From the U.S. Government
February 23rd, 2011
Veterans receive U.S. government benefits, including education benefits. Fotolia.com”>
Because of the nature of their service to the United States government, veterans have access to numerous benefits, ranging from home loans to specialized memorial services. Knowing which benefits from the government are available to veterans will help ensure that you have access to all entitlements associated with serving in the U.S. military.
Compensation and Pension
Tags: Government
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Insurance marketing: 7 steps to make your customers feel appreciated
February 20th, 2011
For success in insurance marketing, be sure to make your customer feel appreciated. Here are seven tips to building productive relationships:
- Be honest. Sounds simple, right? But that doesn’t just mean you shouldn’t tell outright lies. Though, of course, you shouldn’t. You should avoid half-truths and embellishments, too. Overpromising your insurance agency’s capabilities will always backfire. Simply be confident in the product you’re selling and present it as it really is, with both the pros and the cons. You know you have a great product, so with proof of your excellent customer service, you won’t need to tell the customer anything more than the truth.
- Don’t just pretend to care. Your customers are smart. They can tell
Tags: Feel, Feel Appreciated, Insurance Marketing
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10 Ways to Save Money on Your Home Insurance
February 19th, 2011
Here are 10 top tips to help you lower your home insurance premium. Keep your house protected without paying outrageous home insurance premiums.
With the everyday cost of living going up and a continually bleak economic situation, everyone is trying to save money at the moment. One of the biggest monthly costs the average person faces is utility bills and for homeowners this includes home insurance.
If you own a property then you will need to cover it with home insurance or property insurance and this can cost a lot. However, there are many ways in which you can quickly and easily lower your home insurance premium.
Tags: Home Insurance, Insurance
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Iran Oil Tanker Operator Says Ship Insurers Decline to Renew Coverage
February 19th, 2011
Iran’s biggest crude oil tanker operator, NITC, said on Friday that its club of ship insurers had declined to renew policy cover for the coming year due to the impact of tightening sanctions in the European Union.
Western nations suspect Iran is seeking to develop a nuclear bomb, although Tehran says the program is peaceful.
NITC gets its third party liability insurance and pollution cover from the P&I Club market, which are marine insurers owned by shipping clients.
“NITC has found itself caught up in a situation of tightening sanctions as a totally innocent party, along with some 100 other Iranian shipping companies,” NITC chairman and managing director Mohammad Souri said in a statement.
Souri said it hoped for an early resolution of this matter and “speedy renewal of cover” from international group clubs.
“In the meantime, the company has been obliged to ensure that alternative P&I arrangements are in place for all ships trading in its international fleet, up to the required level of $1 billion of pollution cover for each incident,” he said.
“That cover is being provided by a mixture of fixed-premium insurers and other insurance companies based outside the EU, with adequate and suitable reinsurance provision.”
Tags: Oil Tanker Operator, Renew, Ship Insurers, Tanker Operator
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Insurance marketing: When you are one among several insurance agents
February 17th, 2011
In insurance marketing, it is not unusual for your customer to be contacted by several insurance agents. He or she may be uncomfortable, overwhelmed or being pulled in too many directions by agents who are trying to sell him or her a policy. The customer’s not sure whom to trust.
You can probably relate to this. We’ve all been in situations where several people are asking for your time and attention and it’s hard to know who to listen to. And in those situations, whom would you have likely ended up listening to? Probably the person you felt the best connection with. The o
Tags: Agents, Insurance Agents, Insurance Marketing
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What Are Financial Barriers?
February 16th, 2011
Standard of living often depends on the amount of money a person has to spend and invest. Many common activities that can improve one’s standard of living, such as going to college, starting a business, buying a home, traveling and buying a car, require a significant amount of financial resources. When high costs make a certain activity difficult to afford, it is considered a financial barrier.
Basics of Financial Barriers
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