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Market Insights

Market Insights, Distinguished Life

Distinguished: Always, Here for You

The coronavirus pandemic has ushered in a new era of social distancing, self-quarantining and remote work. At Distinguished, remote work has been part of our culture’s DNA with many of our staff already working from home. We are well-positioned as always to serve our agency and broker needs. Our employees are all safe and equipped with the information and resources to answer questions and underwrite new and renewal business.

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Top Books for Insurance Professionals
Market Insights

Distinguished Reads: Top Books for Insurance Professionals While Social Distancing

The coronavirus pandemic has many of us working from home, practicing social distancing and self-quarantining. During this challenging time, we thought it would be a good time to put together top books for insurance professionals to brush up on topics that include everything from leadership to negotiation, sales and marketing and social media. Included in each recommendation is a brief synopsis of the book. 

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blogging
Market Insights

Blogging: Firming Market Calls for Thought Leadership

The insurance market continues to firm as Property & Casualty rates increase across all industry sectors and classifications, due (in part) to mounting losses. Insurers, in addition to making price increases, are also capping limits, adjusting sublimits, reducing capacity and, in some cases, retracting from catastrophe-prone areas. To help manage client expectations, agents and brokers should be communicating with insureds well before their renewals, including face to face, over the phone and in communication literature. For example, consider implementing a content-marketing strategy that leverages blogging to highlight your thought leadership, expertise and the need for specialization during a challenging and changing insurance market.

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Retain Millennials insurance
Market Insights

How to Attract, Retain Millennials in the Insurance Industry

Millennials, also known as Gen Y, were born between 1982 and 1995 (or up to the year 2000 depending on the source). Millennials now represent 50% of the workforce, and by 2025, it’s estimated they’ll make up 75% of the workforce. The challenge for the insurance industry is attracting and retaining Millennials to fill positions left opened by retired Baby Boomers and accept new opportunities as the industry transforms to meet today’s consumer expectations. There simply aren’t enough Generation Xers (individuals between 40 and 54 years old) in the workforce to meet insurance staffing demands.  

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Coronavirus
Market Insights, Risk Insight

Impact of Coronavirus on Business: Cancelled Events, Online Meetings, Remote Work

The state of the coronavirus (COVID-19) epidemic is fluid as the number of infected individual cases worldwide reaches more than 118,000 and the death toll surpasses 4,000, according to the most recent information from the World Health Organization (WHO)*. As the contagion continues its rapid spread around the world, the impact is being felt on numerous fronts including in the travel and hospital industry as events, meetings and conferences are cancelled as well as on businesses in general, which are increasingly limiting and restricting employee travel and turning to remote work in an effort to keep workers safe.

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specilaty insurance
Market Insights

Brokers, Agents Benefit from Program Managers’ Specialty Insurance

The last several years have seen the insurance market firming due to catastrophic property losses and liability loss trends that have resulted in commercial lines rate increases and stronger underwriting discipline. Projections for 2020 include further increases for several lines of business including Umbrella, Directors & Officers Liability, and Commercial Property insurance.

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Construction insurance
Historic Properties, Real Estate, Market Insights, Risk Insight

Construction Insurance in Today’s Growing Market

If you build it, they will come—but don’t forget about adequate liability coverage for new construction! As the construction sector keeps pace with the general real estate market, Distinguished’s senior vice president and program executive, Michael Thabet, weighs in on currents facets of the construction industry and what that means for today’s carriers and insureds. Thabet discusses the importance of having the right type of coverage for different building projects and how newly emerging claims are changing the landscape of this sector. Dive right in and share this Rough Notes article.

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On-Demand Insurance For Drones
Market Insights

Drones and the Insurance Industry: Changing the Way We Do Business

Drones are changing the face of the insurance industry one small airborne device at a time. Now multiply that by a few million. Ever since the FAA eased regulations on the commercial use of drones in 2016, there has been a huge uptick in drone usage, especially by insurers. There could be as many as 7 million drones flying in the US skies by 2020, with 2.5 million of those being commercially operated.

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Golfer
Market Insights, Distinguished Life

Distinguished Scores a Hole in One!

Distinguished has made an acquisition that should interest both golfers and brokers alike! In this press release published Dec. 4, 2017, we announce our exciting news about acquiring the international leader in golf promo prizes, American Hole ‘n One (AHNO).

“This is a marriage of equals, and we are excited about the future,” notes Mark Kissick, AHNO’s new president. With this acquisition, Distinguished will build on AHNO’s successful history and focus on major business growth. Check out more info about this new venture at Distinguished, and please contact us with any questions.

 

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House of Representatives vote for NFIP
Market Insights

Flood Commissions on the Chopping Block

Floods are the most common natural disaster in the U.S. and also the most costly, according to FEMA. The House of Representatives is voting this week to reauthorize the National Flood Insurance Program (NFIP), which expires Dec. 8. BUT we urge you to tell your representative to VOTE NO on this bill, which would slash the “Write Your Own” reimbursement rate, thus cutting agents’ commissions. Take action here.

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restaurant technology
Hospitality & Restaurants, Market Insights

Move Over Martinis, the Three-Click Lunch is Here

Mobile apps, online ordering, and automated kiosks—what’s a restaurant’s best bet for adding tech? More and more eateries in the hospitality industry are paving the way for an automated future—one where sales increase, costs go down, and customers are happier to skip a line and some in-person wait time.

New restaurant technology is becoming a standard, and a digital lunchtime of ordering and paying before picking up your food is becoming the norm. A restaurant with a mobile app benefits with: enticing photos of food for customers to peruse, click-to-call buttons for customers who use the app to get ahold of the restaurant, and easy access to leaving reviews on important sites. Not to mention access to the entire menu, specials, and discounts or loyalty rewards.

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