Year could be trying for insurers

Posted on: Friday, January 27, 2012

The year 2012 may have a nice ring to it for insurance agents but a recent sales forecast predicts insurance companies will likely experience some hardships.

According to a new report from Deloitte, ongoing global economic volatility may make it more difficult for insurers to turn a profit in 2012 both in the long-term and the immediate future. However, if insurers and their agents heighten their focus on innovative sales techniques, financial goals can be achieved.

Rebecca Amoroso, vice chairman and insurance sector leader for Deloitte, further explained insurers' predicament but noted how it can be overcome.

"Global economic doldrums, low interest rates, persistently high unemployment and a sluggish housing recovery have created challenges for insurers," said Amoroso. "Yet even in such uncertain economic times, there are opportunities to generate profitable growth by attracting new customers and growing market share through product development, distribution and marketing reevaluation, and reinventing the customer experience."

In short, now is as good a time as ever for insurance agents to employ new marketing techniques, as doing so could make insurance prospecting yield insurance sales.

Posted In: Insurance News, Sales Techniques

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