Founder and CEO of SmartFinancial.com: on a mission to make the insurance buying process more efficient.

It used to be that if you asked someone who they’re insured with, they’d give you their insurance agent’s name. Billions of dollars in advertising later, people now name their carrier and barely remember the agent that signed them on. Meanwhile, the brick and mortar agencies are waning in importance, and companies like Nationwide are moving to a virtual workforce model. In my role as a CEO overseeing an insurance-technology platform, I’ve observed one thing that remains the same despite all the confusing shifts over the past few decades: Insurance agents are still the primary sales channel for insurers.

Even though carriers can communicate directly with consumers at a lower cost, insurance agents who bring profitable business to carriers are a valued and integral part of the insurance distribution chain. Here’s how future trends will likely shape the carrier-agent-customer relationship and what carriers can do to stay ahead of the curve.

1. Support agents in their role as advisers.

We see a future where insurance agents become more specialized in various niche insurance products. Agents will bring more value to the relationship with the customer by understanding and explaining coverage options on more complex policies. The agent’s role will also become much more of an advisory role that goes beyond the traditional aim of selling insurance products. Because agents are on the front lines serving customers, they will be expected to demonstrate expertise, not only about the insurance products they sell, but also the many ancillary services that insurance carriers are increasingly offering to add value to their insurance products. Car loans, home loans, cybersecurity prevention and other services will become standard package offerings. And someone has to service them. That’s why it’s

ERIE, Pa., Oct. 12, 2020 /PRNewswire/ — Whether shopping for electronics, furniture or a new car, we all love getting the most bang for our buck – and insurance companies know drivers are looking for bargains when it comes to their car insurance. That’s why many insurers advertise low monthly rates to convince customers they’re getting a great deal. But in the event of an accident, that super-cheap auto insurance might leave you stuck paying out of pocket for car repairs or medical bills.

Cheap auto policies can often fall short, but there are ways to save on your premium without compromising your coverage.

Erie Insurance helps sort it out with a four ways cheap auto policies often fall short, and nine ways to save on your premium without compromising your coverage.  

What are the downsides?

  • You could pay more out of pocket later. When you’re found at-fault for an accident, you’re on the hook to pay for anything your insurance policy doesn’t cover. The cost of repairs, medical bills or legal fees from a multi-car pileup can get expensive. Even something simple like a fender bender can cost thousands of dollars in parts alone.
  • You take on more risk. If you run out of cash to pay what you’re responsible for, that could put your savings, investments or assets like your home or car at risk.
  • You get fewer perks. You typically pay a little extra in premium for features like rental car expense coverage, emergency roadside service coverage or a diminishing deductible. But you’ll be happy to have those little extras there when you need them.
  • It’s less personalized. A good insurance agent can help tailor your policy with endorsements and other optional add-ons to be just the right fit for your life. For example, customized coverage can come in handy when you drive occasionally for Uber or Lyft.
  • Ways to save with ERIE:

    Press release content from Accesswire. The AP news staff was not involved in its creation.

    LOS ANGELES, CA / ACCESSWIRE / October 12, 2020 / Compare-autoinsurance.org ( https://compare-autoinsurance.org ) has released a new blog post that presents several efficient ways to get cheaper auto insurance.

    For more info and free car insurance quotes online, visit https://compare-autoinsurance.org/10-ways-in-which-a-driver-can-save-for-car-insurance

    Insurance expenses can rise to several thousand dollars per year. It all depends on several factors, including the model of the vehicle, driving experience and history, coverage limits, annual mileage, and so on. Drivers can get better rates if they:

    • Bundle policies. A person can easily bundle car insurance with homeowners/renters/condo insurance and earn a valuable discount. When completing online questionnaires, the user is asked if he owns the home/apartment where he/she lives. If the user owns it, he will be provided with a bundle option. In some cases, a person can save as much as 20% simply by bundling coverage.
    • Use multi-vehicle plans. Covering multiple vehicles under the same insurer will also be financially rewarding. Multi-vehicle plans also provide a discount. The value of the discount is directly proportional to the number of insured vehicles.
    • Carefully select the value of the deductibles. It is up to the policyholder to set deductibles. The usually recommended value is $500, for both comprehensive and collision coverage. However, the policyholder can choose higher values and lower the overall premiums.
    • Drop unnecessary coverage on older cars. If the car is older than 10 years, keeping full coverage is likely to make the owner overpay. Since a car’s value diminishes over time, keeping full coverage for cars older than 5-6 years can lead to unnecessary costs.
    • Keep a clean driving record. Whenever a person tries to obtain online quotes, he will be asked for claims

    Making your retirement money last is imperative to enjoying financial security in your later years. Unfortunately, far too many retirees make major mistakes that could leave them at risk of running short of cash. Here are four big errors that could leave you broke.

    1. Withdrawing too much too fast from your retirement accounts

    To make sure your retirement money doesn’t run short, you can’t afford to drain your account too quickly. Taking too much money out impairs the ability of your money to work for you. When you have too little invested to earn reasonable returns, your accounts will empty out fast.

    Sad older man sitting alone at table.

    Image source: Getty Images.

    To make sure this doesn’t happen, decide on a safe withdrawal strategy that makes sense for you. Experts recommended the 4% rule for years, but with interest rates so low now and life spans getting longer, this approach leaves you at serious risk of running short.

    The Center for Retirement Research at Boston College instead recommends calculating your withdrawal rate based on tables the IRS prepares to help you figure out required minimum distributions. If you want to simplify things, though, you could always just decide on a lower withdrawal rate, such as taking 3% of your account balance out in the first year of retirement and then adjusting withdrawals to keep pace with inflation each year thereafter.

    2. Investing too conservatively (or not conservatively enough)

    As a retiree, you need to maintain the appropriate asset allocation. If you invest too conservatively because you’re scared of incurring losses, you could earn very low returns, causing your nest egg to dwindle too fast. On the other hand, if you’re overexposed to potentially volatile stocks, you could experience outsize losses.

    To make sure you have the right mix of investments, subtract your age from 110.

    Press release content from Accesswire. The AP news staff was not involved in its creation.

    LOS ANGELES, CA / ACCESSWIRE / October 10, 2020 / Cheapquotesautoinsurance.com ( https://cheapquotesautoinsurance.com/ ) has released a new blog post that presents six ways in which drivers can save money on car insurance.

    For more info and free car insurance quotes online, visit https://cheapquotesautoinsurance.com/6-top-ways-that-will-help-you-pay-less-on-your-car-insurance/.

    Obtaining cheaper auto insurance is not impossible. A driver should improve his car’s safety rating, make smart coverage selection, and look for several investment opportunities with the current provider. In order to get the best car insurance prices, follow the next tips:

    • Bundle multiple insurance services. Getting coverage for all household’s cars with the same company is a smart thing to do. Also, try to insure the home with the same company. Multi-car and multi-policies discounts are great ways to save money.
    • Ask for discounts. Car insurance companies offer a wide variety of discounts. Some of their discounts are the homeowner discount, good student discount, getting a married discount, and many other discounts that are available in certain situations.
    • Keep a clean driving record. Safe driver discounts can range from 10 percent to 20 percent. Maintain a clean driving record for a number of years, usually three to five.
    • Consider UBI policies. Some companies offer usage-based programs. Good drivers can benefit of significantly discounted rates. All they have to do is to let the company monitor the client while driving. If the results are satisfactory, the company can customize prices and provide a better deal.
    • Consider raising deductibles. A driver can lower full coverage costs by agreeing to pay a larger deductible. The larger the deductible amount he agrees to pay, the lower his insurance will cost.
    • Shop online for multiple quotes. The best way a