Cic agency management - Study guides, Class notes & Summaries

CIC - Agency Management 2024 with Correct Solutions Budget Considerations for growing an agency and doing a needs assessment - Answer --the specific talents and skills employees require -an awareness of gaps, deficiencies, and surpluses within and across departments -a determination of how many employees the agency can afford to hire -the best time for employees to join the agency An agency uses its value statement to accomplish several goals - Answer -1. Communicate the agency's core pr...

CIC Agency Management Review With Complete solutions Types of Agencies - ANS1. Standard lines P&C 2. Personal Lines only 3. Commercial Lines only 4. Non-StandardAuto 5. Life & Health Agency 6. Combination of the above Banks vs. Agencies - ANS1. How much will the agency culture change if your agency is acquired by a bank? 2. Banks are governed by very specific federal and state laws that require them to function in a certain manner. 3. Banks tend to be more formal (in terms of rules, ...

CIC Agency Management Review With Complete solutions (VERIFIED BY EXPERT) Sales oriented - ANSGreater emphasis on sales and competition between employees Service oriented - ANSGreater emphasis on satisfying customer Large agencies - ANSMore employees you have the less crucial each employee More flexibility with vacation and holidays Greater chance required to follow certain federal and state regulations Small agencies - ANSEmployees play more critical roll Less flexible with time off a...

CIC Agency Management Review With Complete solutions (VERIFIED BY EXPERT) Five Stages of Agency Growth - ANS1 - Start-Up 2 - Development & Growth 3 - Success 4 - Expansion 5 - Maturity Value Statement - ANSSummarizes the what, why, and how of an agency. (Core principles) Vision Statement - ANSCommunicates a clear picture of what an agency is trying to achieve and identifies characteristics that reflect long-range goals, project view agency aspires to be, and guide's strategic develo...

CIC Agency Management Exam with questions and answers (VERIFIED BY EXPERT) Explain the Organizational Structures available to Agencies - ANSSales vs. Service Oriented Large Agencies vs. Small Agencies Publicly Traded vs. Privately Held Explain the Federal and State Regulations on Agencies - ANSLicensing Regulations by State Regulators protect the consumer by making a viable insurance marketplace and monitoring interstate commerce Five Stages of Agency Growth - ANS1 - Existence - Owner...

CIC Agency Management Review With Complete solutions Organizational Structures Available to Insurance Agencies - ANSSales Oriented vs Service oriented Large Agencies vs Small Agencies Publicly Traded Vs Privately Held Impact of Federal & State Regulations on Agencies - ANSWhy do we have regulations? -To make sure we keep promises -Interstate Commerce -Consumer Protection -Viable Insurance Marketplace Characteristics of the 5 stages of Agency Growth - ANS(ESSTM) 1. Existence - agency...

CIC AGENCY MANAGEMENT EXAM QUESTIONS AND ANSWERS

CIC Agency Management Exam- All Lessons 2024 Updated Explain the Organizational Structures available to Agencies - Answer -Sales vs. Service Oriented Large Agencies vs. Small Agencies Publicly Traded vs. Privately Held Explain the Federal and State Regulations on Agencies - Answer -Licensing Regulations by State Regulators protect the consumer by making a viable insurance marketplace and monitoring interstate commerce Five Stages of Agency Growth - Answer -1 - Existence - Owner does ever...

CIC Agency Management Sales oriented - ANSWER Greater emphasis on sales and competition between employees Service oriented - ANSWER Greater emphasis on satisfying customer Large agencies - ANSWER More employees you have the less crucial each employee More flexibility with vacation and holidays Greater chance required to follow certain federal and state regulations Small agencies - ANSWER Employees play more critical roll Less flexible with time off and vacations Not subject to cert...

CIC Agency Management