No one wants to say the “R” word, but many are sounding the recession alarm. In this climate, one of the many immediate challenges is preparing your agency for a recession. With insight from Forbes, The Economist, KPMG, SHRM, and the U.S. Chamber of Commerce, we’ve prepared some practical tips and advice we hope is of real, actionable value should the worst happen.
Retaining clients in the face of rising insurance rates can be challenging, but there are several strategies you can use to maintain strong relationships. Here are 10 ideas for retaining clients when their insurance premiums increase.
Summer’s here, and in addition to longer days, vacations, and barbecues, this also means the holiday season is just around the corner. I’m only half joking. The pace of life is so hectic that before we realize it, the New Year’s Eve ball will drop in Times Square. According to one large study, the average American is so busy that they have under five hours of free time for themselves a week. I know the feeling. The study also found that six in ten of us regularly put off basic tasks like cleaning and banking for lack of time. Read more now.
Tax season is in full swing. Is your business ready? Here are 10 tips for insurance agents that can help optimize your finances. Remember, always consult with your tax advisor regarding tax consequences and your specific situation. Let’s get started.
Have you made your New Year’s resolutions? We hope they include ways to market your insurance agency more effectively. These eight tips can help. Get the tips,
This year has been challenging for every sized business. But, despite the economic uncertainty, and rising interest rates, there are some silver linings. One is an abundance of office space and motivated sellers looking to cut their losses, meaning more bargaining power for you if you’re looking to purchase an office.
The Federal Reserve has committed to a policy of fiscal tightening by raising interest rates. According to Fed Chairman Powell “we still have some ways to go…we will stay the course [keep raising rates] until the job is done.” This leaves the economy on a knife edge. Raise rates too much, too fast and we fall into recession. Too little and prices continue to rise and eat up savings.
The combination of rising interest rates, persistent inflation, and rising home-prices means the start of a transitional period and lower competition in the housing market, predict economists including Lawrence Yun, chief economist at the National Association of Realtors. Don’t expect it to become an outright buyer’s market anytime soon, however.
