The main reason we made the decision to take this important change came when we realized that we had with the software were not able to effectively harness the information of our portfolio with the aim of increasing the number of customers integrals.

Much has been said, even in this blog, the importance of cross-selling and the potential of CRM programs. For all its virtues we add a filter that under our opinion should be taken into account before launching any campaign and is not one that we mark the famous phrase that I read somewhere some time on advertising:

Targeted advertising becomes information

It’s easy to understand what we want, do not suffocate with bulk mailings to customers who have given us their confidence to manage their insurance, it seems unproductive and can have the opposite effect to that is to be able, with the information We provide our clients, meet the needs of them and offer insurance solutions.

As a last point we want to remember something as important as self-evident, but nevertheless often the main reason for the poor design of a campaign.

The databases were not filled or updated own

Gástese you a huge amount of money on the best management software ever developed which will not yield any benefit if you do not have efficient staff that is responsible for keeping the data current.

I sincerely believe that these issues have always be able to provide better service to our customers.

- Improvement in the definition of motor vehicles required to sign the insurance and liability movement: they are considered to be those that require an authorization to operate. It also improves the determination of the accidents that are covered by this insurance and the exclusions related to agricultural, industrial or service in enclosed own activities and those whose claims would be covered by liability policies of the holding that sign.

- Increased coverage. The new regulation provides that, when damage to people (with a limit on compensation of 70 million euros) and damages to the property (with a limit of 15 million) and compensation for damage exceeding the limit of compensation may used the balance that could result from damage to the people to the limit to cover the total damage. In doing this, that the compulsory insurance of motor vehicles in Spain is a virtually unlimited insurance coverage is exceeded and the practice of double insurance: compulsory and voluntary supplementary insurance.

- Streamlining the processing of claims and certain aspects relating to the payment of compensation. The insurance company, when you can not make a concrete offer of compensation to the victim because they are unable to quantify the damage due to causes not attributable to him shall be obliged to indicate the progress payments to be making their commitment to make an offer based compensation as soon as the necessary information is available and must inform the injured every two months on the status of the processing of compensation until it is quantified.

- Updating and simplifying the query in the File Information insured vehicle. This file is intended to further control the fulfillment of the obligation to ensure, to facilitate the injured in a traffic accident with the necessary information on the insurance covering the liability of each of the vehicles involved in an accident. It simplifies the query to the file, eliminating the provision that until now were required, a copy of National Identity Card or other proof of identity of the citizen to see the file.

- Finally, the new regulation provides that to verify the existence and effect of compulsory insurance, the agents should refer to the Traffic Information File insured vehicle. Only if not possible, ask the public presentation of the receipt of insurance.

From the standpoint of our insurance broker should be happy, we make a really good balance but we know that next year will be a tough year if we take as basis the fourth quarter of this year, a final period where we really noticed abrupt adjustments in the insurance market.

The rules have changed, our relationship with the companies, the aggressiveness of the market and the perception of clients over the contracted services are factors that will determine the future of this new year started.

If a particular segment of the things have not changed too much over other exercises can not say the same thing with regard to business.

It is a known fact that the customer no longer assumes, without discussion of the premiums for insurance renewal, they know that there are many companies whose main objective is to capture customers from the competition which results in a price war (this is debatable).

Crisis assessment of a service ceases to be as important as the economic cost of this from our point of view is wrong, but we should understand the approach to the situation where there are many families. In any case, as insurance brokers and due to the fluctuating prices of different companies have tools to care for both our customers and to attract new balancing the demand and price our services.

Another issue is quite different from those risks associated with the Companies (multirisk, RC, Bus, …), here the thing, and varies greatly. It is true that the construction sector is clearly in recession, which directly affects the insurance products but is also linked to the channel companies that there is no war premium, there is no reference to premiums and many times as we say in our discussions with the companies “Sirs unfortunately we do not make the prices so do not blame us for the infidelity of their customers.”

On the positive side we have that in the same way that you must defend your client is a high possibility of a new collection. Companies account for 625 of insurance premiums is a review like that of other suppliers, is to look over an account in its policy of cost savings that may not be looked at very closely in the past, but again to insist that we are at another juncture (either real or anime). That we therefore predicts that the year will be a great year with a trade component for professionals in the mediation.

Finally we do not want to end this review without referring to our beloved channel banking insurance. These take the palm on the aggressive in attracting customers, this issue discussed at length in this blog. We know first hand that has not been a good year for the direct sale of their products (personal loans, mortgages, ….) And that the objectives are focused on selling branches, sell and sell all kinds of insurance. But this should not contracting, we understand that the market is large and that the figure of the professional mediator wins prestige over time.

In short we face a year with many curves that we hope to overcome them effectively, but as we started and the experts are saying in this matter and clarify the rules may change again at any time.

The automotive industry is one of the hardest hit by the current economic situation and this is beginning to be felt in all its ramifications. In a recent conversation with a head of a workshop I commented that mark important data on which it had not fallen and that the current problems of these companies is not limited solely to a drop in sales of vehicles, repair of small minor damage type minor scrapes and bruises (one of the most profitable) are starting to fall and the reason is the linkage of such repairs with insurance against all risks.

The relationship is pure logic, by reducing the sale of cars is reduced recruitment of insurance, since this is a strong links to vehicles with no more than 3 years old. This makes minor repairs to be out of the consumer’s pocket instead of insurance companies and not be a priority for the operation of the vehicle to stop with the consequent reduction in workload for the workshops.

Collateral damage that directly affect our industry and a branch as important as the automobile.

The other group is composed of the technical operation of its own insurance.

The reservations of the first group are designed to increase the resources of the company, prevent future losses or to make subsequent distributions between partners or shareholders. In contrast, the technical reserves are not responding to these purposes and represent a liability or commitment by the insurance company, putting well highlighted the essential difference between the two types of reserves.

Provision for current risk: A certain portion of the premiums paid each year on insurance if any, are transferred to this reserve. For each of the classes of insurance that is operated using a pool of this nature, both direct insurance and for reinsurance taken.

The insured to obtain insurance, acquires the obligation to pay the premium in advance. Do immediately or in installments, the fact is that the company has an active mass of values which must deal with claims relating to policies issued. Casualties occurring in the year of issuance of the policy is credited with the mass values. But you may find casualties in the exercise later. Therefore, to meet its payment is necessary to book in premiums each year, a certain proportion, which is credited to the Reserve of current risk of each of the possible insurance.

On the establishment of such reservations apply the following rules:

o In general, for any insurance risk must reserve 80% of premiums, net of reinsurance and cancellations, which are representative of the risk does not run at the year end.

In marine insurance or who is hired by the travel booking is made by total premiums, net of reinsurance and cancellations, for the last two months of each year.

o insurance and fidelity guarantee should be reserved for 40% of net premiums each year and an additional 15% on average net premiums for the past three years.

Math Book: It is for life insurance. Theoretically these insurance premiums, given their nature, should be raised continually, by the greater likelihood of death of the insured as time passes. But if so do life insurance would be prohibitive from a certain age. To avoid this inconvenience insurance companies receive premiums or half flush. Mean that an insured will pay their premiums too early with respect to what is appropriate for their likelihood of death, and pay lower premiums after a certain age. The amount paid in excess during these early years, is the premium savings. With this and the part that takes the risk premium, as well as accrued interest, is the mathematical form of insurance.

Reserve for outstanding claims: This reserve is credited with the amount of claims reported to remain in the process of settlement and for this reason have not been paid, whether direct insurance or reinsurance.

Life Insured Accumulation Fund: this fund is credited to the items to be distributed among the policyholders of the Life section as fringe benefit under the conditions stipulated in the policies. These items can be useful in this Section or income thereof shall affect this end.

* Failure to pay the premium.

* Change owner of the thing insured.

* Reluctance.

* Fraud by the insured.

With the cancellation of the policy the insurer is only entitled to a premium for the risk you run.

Claims Settlement

Claims that communication begins with the insured or the beneficiary of the insurance must be made to the insurer, to make this pay the sum insured. For the settlement of claims are required three steps:

1. The verification of the incident.
2. Valuation.
3. The settlement, to make your payment.

In order to fully verify the claim, the insurer requires a series of tests designed to that end and makes all efforts to ensure that it considers appropriate in the event that is covered by insurance.

The valuation of the damage to the insured in the insurance on things is very important because the amount of compensation depends not only on the sum insured, but also the value of things in the days of the incident. The value of insured property requires the intervention of experts or expert liquidators.

The risk can be assumed that technically an insurance company have a limit, after which imposes the need for reinsurance to transfer to other companies such excess risk.

The basic rule for establishing the limit of risk that can assume is in the uniformity of capital insured for each company.

To avoid an imbalance that can cause lack of uniformity in the capital, the companies reinsure part of insurance that exceeds the normal limit of insurance capital.

The limit of the risks that can run an insurance company is called full. The company that gave the surplus of its full and transferor is called a reinsurance liabilities. The company that takes the reinsurance is called the grantee, and a reinsurance asset.

In turn, a reinsurance asset may be the subject of a new reinsurance with another company. This is called retrocession reinsurance. Usually companies pay to the transferee cedants the same premium charged to policyholders and paid them a commission higher than that payable to their agents or brokers.

In our country reinsurance is regulated by INDER (National Institute of Reinsurance), which monopolizes the domestic reinsurance companies and 30% approx. The foreign companies. In turn the I.N.D.E.R. can go back to their reinsurance companies operating in foreign country or foreign insurers.

Directory Management reports directly to the General, who, like any business, is the executive responsible for driving the company pursuant to resolutions adopted at that.

Acceptance and Issuance of Insurance Policies

The issuance of the policies is done via the following steps:

1. Application of insurance.

2. Verification of all information contained in the application.

3. Acceptance of insurance.

4. Issuance of the policy.

The application is the proof of insurance whereby the insured asks the insurance company a certain. Therefore it contains the information necessary for the insurer knows exactly who has the risk of running out insurance. The main data are:

* Date.

* Identification Data insurable.

* Object and the insurance risk.

* A description of the thing to be sure.

* Amount of insurance.

The declaration reduces health costs of issuing the policy, because it is less costly to make such a statement verifying the medical review, and simplifies management at the insured to induce him to take a life insurance. Accepted the request, the policy is issued pursuant to that data and delivers accordingly.

There are different types of bonuses:

* First natural

* Pure Premium

* First Commercial

* First level

* Single premium

* First regular

Premium natural: In the life insurance premium is dependent on the mathematical calculation of risk. For this reason, a higher risk, the higher the premium natural and vice versa.

Premium: The risk premium of other classes of insurance.

First name: this is the premium paid by the insured and actually consists of two parts: the premium or pure natural on the one hand and operating costs and profit of the insurer on the other. Of these costs are the most important:

* Commission for producers who placed insurance.

* Commission charge that is payable to staff for the collection of premiums.

* Administrative expenses and advertising.

* Surcharge for splitting the premium. The premium can be split through regular contributions, and this gives rise to a charge, as is often the case with sales to run.

* Margin of safety. It is a charge for any increase in expenditure and in particular the possibility of an increased risk.

First level: The implementation of premium natural simple to calculate the premium would be prohibitive commercial life insurance, from a certain age. In this case the premium commercial and continuous increase of the time when the insured desistiría of the contract given the high price they must pay for their insurance. It has therefore been necessary to level premiums so that the premium market is the same in life insurance for the duration of the contract.

Single premium is payable by the insured when it is done on a single occasion.

Periodic premiums: the premium is paid only with partial payments, thus providing a possibility that the insured can decide on the merger of these operations.

The risk: It is a major factor in the insurance business. Is the subject of insurance as a prevention measure uncertain event that occurs forces the insurer agreed to pay compensation. In the insurance risk is always uncertain. Even the death of a person who has fatally happen sooner or later, is an uncertain event could be sure, because no one knows when it has to happen.

For an uncertain event, it can certainly not depend on the willingness of insured since then there would not be able to secure. The risks are also on the things a certain regularity which makes the field of insurance. The insurer has established practice standards for measuring risk and calculating the standards to be collected by the insurer.

Determines the risk premium charged, and consequently for aggravated risks related to the normal risks, the premium will be higher. In the insurance risk assumed by the insurer must be defined very clearly, because it is a crucial element in this agreement.

Furthermore, it is necessary that the subject matter of insurance is properly characterized in order to enable the insurer to know where lies the risk.