Auto insurance marketing plan

Why not sell medical insurance like Auto insurance?

I know this is long but please bear with me. Rather than set up a separate government run medical insurance or expansion of medicare to the general public....One criticism of government care is that it will be in direct competition with existing providers. Ultimately siphoning insurance customers away from traditional plans and onto the rolls of govt care causing these providers to go out of business. Here in my state the auto insurance companies MUST offer the same basic minimum coverage in order to do business in the state. Everyone here must have at least the same basic level of insurance (both auto and medical) . You can go to any provider you choose and this basic minimum insurance level costs the same . If you want more insurance you can pay for additional coverage. But that basic plan is available to all. So why not have a similar program for medical insurance as part of a nation wide group policy. This group can be subsidized by the government but it would be managed by the existing insurance providers. (In other words if you want to be in the insurance business you must offer and support this minimum plan which would be a foundation for any other plan you offer) The govt pays the insurance company a flat rate to manage each person enrolled in the basic plan. The more money the company saves (the better they manage the insurance) the more money they keep. However if that company provides poor management it will cost them. Either subscribers will change management companies if they feel they are getting a raw deal or wasteful management would not be payed for by the government. One advantage I see here is that consumers would have an alternative providers to go to if they feel wronged by a particular management company. Insurance providers also have an incentive to offer additional services to the basic plan members in order to attract more subscribers and earn money. With a govt program like medicare your stuck with the one provider (the governement). As they say One Choice is NO Choice.... If someone wants additional insurance they can buy additional coverage from any provider they choose. But No one could be denied coverage for the standardized basic plan. Since everyone is part of this national group policy the basic insurance is portable and independent of supplemental policy one may have. So if you change jobs or move to a different state you may loose the supplemental policy BUT your basic coverage remains intact. You merely transfer the company that provides the management services for the basic medical. Insurance providers would get paid by the fed to manage the participants in the basic plan for each participant in the basic plan. this would put market forces into play for the insurance providers to make money by attracting additional participants through better service or offerings. COunter to this is if the consumer gets crappy management services they can transfer to any other insurance provider.

i agree with the other 2 posters. auto does not have malpractice, but they have "bad faith" which is just as bad as malpractice if filed against the company and the company loses. as for some insurers only accepting preferred customers that is true also, but there are many that only take the minimum limits and high risk only since they make more money. i have worked under both. i agree if all policies could be 'standardized" like auto. in auto you pick your coverage and limits . when you file a claim for your auto, it pays for the damages. if you get injured, it pays the medical bills if negligent, it pays so you don't get sued if other party has no insurance or not enough, it pays that also. the exclusions in most policies are basically the same so no surprises there. in some companies they will slip one in that no one has, but those are few. after 3 years, most companies will void prior claim history and you start over, whereas have a preexisting condition precludes you from obtaining insurance in most states forever until you reach 65 and can get medicare. most people will disagree with you, but i have thought for years if health insurance policies would follow the same basic rules as auto, that if you file a claim, they pay subject to your deductible and you can rest assured not going bankrupt. but health insurance needs to be made mandatory for all.

lucy | Read more

Auto Insurance Company Business Plan - MS Word/Excel

The Auto Insurance Company Business Plan is a comprehensive document that you can use for raising capital from a bank or an investor. This document has fully automated 3 year financials, complete industry research, and a fully automated table of contents. The template also features full documentation that will help you through the business planning process. This is a full and complete business plan with original research, financial models, and marketing/advertising plans that are specific for an Auto Insurance Company. Since 2005, BizPlanDB and its parent company have helped raise more than $100,000,000 through its developed plans.

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Why not offer Medical Insurance like Car Insurance.....?

I know this is long but please bear with me. Rather than set up a separate government run medical insurance or expansion of medicare to the general public....One criticism of government care is that it will be in direct competition with existing providers. Ultimately siphoning insurance customers away from traditional plans and onto the rolls of govt care causing these providers to go out of business. Here in Mass auto insurance companies MUST offer the same basic minimum coverage in order to do business in Mass. Everyone here must have at least the same basic level of insurance (both auto and medical) . You can go to any provider you choose and this basic minimum insurance level costs the same . If you want more insurance you can pay for additional coverage. So why not have a similar program for medical insurance as part of a nation wide group policy. This group can be subsidized by the government but it would be managed by the existing insurance providers. (In other words if you want to be in the insurance business you must offer and support this minimum plan which would be a foundation for any other plan you offer) The govt pays the insurance company a flat rate to manage each person enrolled in the basic plan. The more money the company saves (the better then manage the insurance) the more money they keep. However if that company provides poor management it will cost them. Either subscribers will change management companies if they feel they are getting a raw deal or wasteful management would not be payed for by the government. One advantage I see here is that consumers would have an alternative providers to go to if they feel wronged by a particular management company. With a govt program like medicare your stuck with the one provider. As they say One Choice is NO Choice.... If someone wants additional insurance they can buy additional coverage from any provider they choose. But No one could be denied coverage for the standardized basic plan. Since everyone is part of this national group policy the basic insurance is portable and independent of supplemental policy one may have. So if you change jobs or move to a different state you may loose the supplemental policy BUT your basic coverage remains intact. You merely transfer the company that provides the management services for the basic medical. Insurance providers would get paid by the fed to manage the participants in the basic plan for each participant in the basic plan. this would put market forces into play for the insurance providers to make money by attracting additional participants through better service or offerings. COunter to this is if the consumer gets crappy management services they can transfer to any other insurance provider.

This is an idea that should be looked at very carefully by the congress before it starts trying to reinvent the wheel.

SCOTT M | Read more

My plan to fix our broken Health care system, what do you think?

This is my plan to fix health care, and thank you for being polite. I also am always willing to listen to the other side, disagree or not. I would do away with the employer tax credit for health insurance. Then I would give a set tax credit every year to the poor to pay for health care. I would make catastrophic coverage mandatory, just like auto insurance. The free markets would bring down the price, when was the last time you shopped around for an MRI or XRAY, the system now is crazy, we have no cost controls or transparency. Right now what we have is an insane system, it is like paying for auto insurance to cover oil changes and not just accidents. The poor get covered, you are protected and the Government stays out of it. This is my plan, let the criticism begin :) g - good questions. The tax credit works like the earned income credit, so you would get a set amount to pay into the system. Kind of like food stamps now. And for the catastrophic coverage, I was thinking anything over $10,000 it starts kicking in, but you can pay more for a smaller start point. Anytime - the problem is our current system is unsustainable. Does your employer pay your auot or home insurance for you?

no employer tax credit for health coverage - much less employer paid health coverage leaving people to pay for their own most poor dont pay taxes - no tax credit and if you just hand out money to them it would need to be about 500 per month since thats what the average health care costs no it doesnt pay for them but i dont expect the government to pay for them either 80 percent of the people are happy with the health coverage thaey have now

anytime_male | Read more

Is this a good offer to accept for a new insurance sales position?

We are please to offer you the following position: Individual Insurance Sales Consultant; Your job will consist of the following: · Sales of personal insurance including but not limited to o Auto-Home-Umbrella- insurance o Life Insurance o Investments o Individual Health Insurance · You will be required to quote and process the entire application from start to finish on all new sales. · Servicing of the account will be completed by account reps. · Develop and market new ways to sell personal insurance products o Internet o Working with our insurance companies on marketing programs o Referral programs with: § Car Dealers § Realtors § Direct Writers § Email Advertising § Internet quoting · You will also be working with producers who focus in other areas of insurance. · You will contact existing customers to go over their financial needs including but not limited to life insurance and investment planning. Compensation: 1. Base salary of $36,000 per year 2. Bonus after you exceed $36,000 in earned commissions based on the following: a. 50% first year commission on personal lines insurance. ( auto-home-umbrella etc.) b. 50% commission on all life insurance you sell on new accounts to the agency or existing house accounts. c. You will be splitting commissions with the producers that you give you personal lines leads d. 20% referral commission new and renewal for all other lines including i. Commercial Insurance ii. Group Benefits 3. You will receive the standard employee benefit program a. Employee health insurance. Company picks up about 85% of the cost b. 401 K program c. Optional dental

It sounds like a fair offer, if insurance sales is what you want to do. It's a tough business!

TX Cyclone | Read more