Future of Insurance Archives • Page 27 of 27 • InsNerds.com

Write Better Job Descriptions to Attract Millennials

This chapter later got adapted into a chapter of our Best Selling Book – Insuring Tomorrow: Engaging Millennials in the Insurance Industry. Get your copy here! As Baby Boomers start transitioning into retirement, insurers and agencies are struggling to attract Millennials to replace them. One of the causes of the problem is the industry’s … Read more

Definitioner

Limit: The most money the insurance company will pay you.
Mutual: An insurance company owned by all of the people who they have sold promises to.
Reserves: Money put away by a company to pay for a loss that already happened but they haven’t paid yet.
Agency: The company the agent works for.
Producer: The person who sells you the promise to pay for things you break or lose.
Agent: The person who sells you the promise to pay for things you break or lose.
Contract: A written promise.
Policy: A written paper that explains in long words the promise you have bought from the company and what is covered or not covered.
Insured: The person who gets paid when something breaks or is lost.
Claim: Asking somebody else to pay when something breaks or is lost.
Liability: When the law says you have to pay for breaking something.
Risk: Chance of something changing either for better or worse.
Insurance: Paying a company a little money for the promise they will pay a lot of money for things we break or lose without meaning to.