Gym Reopenings Spell Opportunity for Insurance Agents July 1, 2021 2020 was a tough year for the fitness industry. Government mandated lockdowns and a lack of consumer confidence in the safety of gyms resulted in the industry experiencing a 58% decrease in revenue compared to 2019, and 7 major fitness companies closing their doors for …
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The Importance of Market Access June 24, 2021 Picture this: Your customer contacts you requesting a surety bond, so you begin shopping quotes to find the right coverage. You find a broker who comes recommended by one of your colleagues. You request a quote, only for it to come back three times higher than you …
Promote Your Agency Today! One of the primary keys to success for independent insurance agencies is having an innovative marketing strategy. At BondExchange, we actively promote our agents, because after all, our success rests on the success of our agents. We provide all insurance agents enrolled with us with free promotional materials advertising your …
Why Surety Companies Examine Moral Character June 2, 2021 Surety companies oftentimes examine the moral character of the principal during the bond application process. This aspect of surety underwriting can seem a bit strange to first time surety buyers. Can you imagine if every time you went to the grocery store the cashier performed a …
Why Surety Companies Require Financial Statements May 13, 2021 If your customer needs a surety bond then they may be required to submit both personal and business financial statements during the bond application process. This often comes as a shock to first-time surety buyers, as rarely do other lines of insurance utilize financial statements in …
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Agency Tips: Alleviating Production Pressure April 30, 2021 Insurance agents are constantly feeling the pressure to produce. Sales generate revenue, and we all know agents can’t stay in business without growth. However, there are only so many hours in the day, and agents often find themselves hard pressed trying to both attract new customers while …
April 20, 2021 How to Combat the Perception of Insurance as a Commodity Consumers are most inclined to purchase products from platforms that save them money and are simple to use. Insurtech platforms seek to take advantage of this by leveraging technological savviness in markets that, historically, have not been subject to disruptive technological advancements. …
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Free Contractor License Bond eBook We have compiled a Free Contractor License Bond eBook containing the bond and licensing requirements for contractors all across the country. In this eBook, insurance agents will learn: The bond requirements for licensed contractors Who is required to obtain a Contractor License Bond How to obtain a Contractor License Bond …
Booming Real Estate Market Spells Opportunity for Insurance Agents April 7, 2021 The COVID-19 pandemic and resulting shutdowns caused the US economy to shrink by 3.5% in 2020. Many industries were hit hard, and are still attempting to bounce back from last year’s losses. That said, one industry in particular was not only able to …
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Surety Bond Basics: Understanding Bond Terms April 1, 2021 Surety bonds are different from more traditional lines of insurance, and agents who primarily deal in home, life, and auto insurance are often left scratching their heads when it comes time to renew their customers’ bonds. Unlike insurance, the term duration requirements for a surety bond …
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