The past year and a half has presented some major changes for the Bates Insurance Group. In that time, we have changed our names, expanded our services offerings to include personal home and automobile coverage, along with commercial insurance. In addition, we moved office locations, expanded our website, changed our marketing efforts and have further committed ourselves to client service and savings. And now we are offering financial planning services. Wow…please allow me a moment to catch my breath!
With all this, I wanted to take a brief moment to focus you on our commercial insurance services, especially if you haven’t marketed this coverage recently. Fort the past year, we have seen what is termed as a “softening marketing”. A soft market is an insurance company’s greater desire to write your business, creating a more competitive market. Insurance companies, in essence, are investment organizations, investing premiums into the stock market and other investment vehicles. This is what brings balance to their equation of income versus expense. In the past couple of years, we have seen more stability within the stock market and this presents an opportunity for insurance organizations to invest premium dollars with more return. This allows them to take more risk as corporate profits increase.
So what does this all mean for you as an insurance consumer? It means that if you have good claims history, it is time to take a look at saving money. These insurance companies are anxious to look at good commercial business. Many of our clients have heard us discuss the need to market your health insurance to take advantage of “fresh underwriting”. That, along with plan design changes, in how you save money in the health insurance arena. Well during a “soft commercial market”, the same is true. If you aren’t already a Bates Insurance Group commercial insurance client, I strongly encourage you to give us an opportunity to earn your business. We have saved many of our clients significant dollars and we feel confident that we can do the same for you…
