Tag: application for insurance broker

The foundation of an insurance sales person's job is the contact with the customer, so it is worth paying close attention to how communication takes place, what problems occur during customer service and how the whole process can be improved. As the pool of customers grows, so does the amount of work to be done. CRM software for an insurance agent or an insurance broker can be a support for growth and the key to more efficient communication with multiple customers. This solution can not only affect the quality of work, but also the number of customers acquired and, as a result, sales statistics. How does it work? The following text explains it.Brokers and agencies - the scope of activityBoth a broker and an insurance agent are intermediaries when concluding an insurance contract. However, the difference is significant - the broker's principal is his client, while the agent's principal is the Insurance Company (IC) they represent. The broker seeks a tailor-made offer for their client; the agent's job, on the o...

Regulation 2016/679 (GDPR) and accompanying acts Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 have caused a lot of confusion in Polish law. One might think that the well-known acronym GDPR might make things more difficult only in matters of using an image or sharing information about a given personal entity with third parties. However, it turns out that GDPR has brought many changes and related ambiguities in most business sectors, including the insurance industry.  Indeed, not all legal issues have been clarified, and one such issue is the nature in which insurance brokers act - are they data controllers or data processors?  It is therefore crucial to take a close look at how data protection issues affect insurance agents and brokers.Personal data protection in insurance.In addition to the GDPR, the Act of 1 October 2018 implementing the Insurance Distribution Directive is also relevant here. Indeed, the insurance sector is one of those sectors where personal data...

The profession of a broker has become increasingly desirable in recent years. Entrepreneurs, or even individuals, more frequently decide to use brokerage services, which makes it quite a popular choice for a career path among people interested in the insurance industry. Especially since there are more and more tools and programmes available on the market to facilitate brokers' work - for example, CRM for insurance brokers to support daily work with clients. It turns out, however, that no specific studies are required to become a broker, although in fact a higher education related to the brokerage subject will certainly prove helpful. In order to obtain a license entitling to practice the profession, however, you have to take an examination for insurance and reinsurance brokers carried out by the Polish Financial Supervision Authority (KNF). This exam is regulated by the ordinance of the Ministry of Finance of 24 November 2003. How to become an insurance broker?Although, in theory, anyone can become a broker...

In times when there are plenty of offers on the insurance market, finding and negotiating an attractive policy may be, from the customer's point of view, a highly complicated and time-consuming process. It is in this situation that the assistance of a broker is invaluable, as they have excellent knowledge of the current offers and are therefore able to propose the most beneficial solution. The idea behind the creation of the broker profession is to minimise the differences between the experience and knowledge of a specialised insurance company and the consumer seeking protection. A broker is thus a kind of a liaison between the parties in the insurance process. It is also worth emphasising that a broker cannot be engaged with any particular insurance agency, which guarantees objectivity. The broker will strive to present an offer that is in fact the most beneficial for their client, instead of focusing on the advantages of the company they represent. This makes us more willing to seek their advice.Who is an...

Both a broker and an insurance agent perform their duties on the basis of powers of attorney granted to them. However, it is worth noting that these powers of attorney differ primarily in terms of the entity that grants them. According to Article 21 of the Insurance Distribution Act of 15 December 2017, an insurance agent obtains a power of attorney in writing from the insurance company for which they provide their services. It primarily defines the scope and area of the agent's activity. A broker, on the other hand, as stipulated in Article 27(1) of the said Act, obtains - also in written form - a power of attorney from the client on whose behalf they will perform brokerage activities. Persons acting as brokers or agents are obliged to make the power of attorney available at the time of performing the first act included in the scope of their duties. Thus, a broker shall provide the power of attorney granted to them by a client to the insurance company with which they intend to negotiate on the client's behal...

Annual reports in a brokerage office are a very important process that not only allows you to check and assess the condition of the company, but also to define realistic goals for the coming year. Processing data for such a long time is not one of the easiest tasks. Hence, it is important to take care of their proper collection for the year. Consistency and a meticulous approach are the keys to systematically writing down the most important information. Without good data, there will be no good reports. However, remember that every process can be improved by using the right tools.What reports must a brokerage office create?The most important and obligatory report for law offices is the report for the Polish Financial Supervision Authority (KNF ). It must include, among others, information on the number of policies concluded, premiums written and cashed and data on commissions. Therefore, creating such a file requires much commitment and checking of all the company's activities in a given time. It's best not to...

Recently, I’ve had the opportunity to talk to a person who is keenly interested in using our solution at a brokerage office. Everything was fine, the range of the system's capabilities was amazing, until it turned out that the application was in the SaaS model (Software as a Service). The interlocutor lost interest and ended the conversation with the words: "Konrad, I do not trust those clouds there, the data is safer in my desk". Well, it depends on where the desk is. But it was not supposed to be about interior design, but about why the external location of data still raises concerns. Cloud East, cloud West, home is best?Even though more and more applications and technologies operate as a service, there are still sceptics of such solutions. I don’t want to go into details of "clouds" or create academic comparisons, because that is not the point here. Simply put, if something is "in the cloud", it simply isn't "with me". Basically, the lack of trust in this matter boils down to the fact that the data wi...