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Credentialing Liability
The hospital's liability in the wrongful denial of staff privileges to a qualified physician or health care professional who is otherwise deemed competent. Coverage for this is available under a Hospital Directors & Officers Liability policy.
Insurance Industry News from ProgramBusiness.com
New Business DevelopmentDeveloping new business is an integral part of every agency, CSR and producer. There are endless ways to go about looking for new business, however successful agency personnel know how to focus their efforts to engage in the most efficient methods possible.
Most businesses derive 80% of their revenues from the top 20% of the customers. The key is to expand upon the relationships already formed with customers and tap into the relationships that have been made with existing accounts (referrals), and any other individuals and businesses to generate new business. Successful CSRs and producers know that having already established working relationships with these people, they are in a position to tap their brains for new ideas:
1. Do they have a need for any additional products or services?
2. Are they aware of any other businesses that would have a need for similar products and services?
3. Would they be able to refer any individuals or businesses that would help in penetrating new target markets?
4. What sort of additional products and services would be of interest to them and their business or personal needs?
Whether it is a two-person agency or an agency with a large staff, successful CSRs and producers approach developing new business as a team effort. Anyone that can help them engage in new business is part of their team. This includes customers, partners, friends, and everyone else that can introduce new ways to market the agency.
Successful CSRs and producers reward individuals and other businesses that help them to penetrate new target markets and bring in additional customers. They create arrangements that stand to benefit both themselves and the individual or business they are working with. They probe the minds of existing customers to learn about any new types of insurance products and services they may need.
Insurance is constantly in a state of change. Successful CSRs and producers find ways to innovate, build, and advance their agency in order to ensure a foothold in the marketplace. The insurance industry will always have new products, services, and technological advancements that alter the way business is conducted. By understanding the elemental factors that affect these changes, successful CSRs and producers will be in the position to capitalize on new business developments as the marketplace changes. The successful CSRs and producers considers the following:
1. What sort of new products and services would allow expansion into different target markets?
2. What factors will shape the landscape of the insurance industry next year, in two years, and in five years from now?
3. Which parts of the agency will stand to gain the most from these developments?
The successful CSRs and producers that are ready for these changes stand to gain the most. Being able to project their knowledge of the industry into the future and understanding the effects of new marketplace developments will enable the successful CSRs and producers to uncover valuable new business opportunities.
Successful CSRs and producers are able to use the resources readily available to them to develop a steady stream of new business initiatives and create a foothold for themselves that can be leveraged into even greater opportunities. New business drives companies in every industry and is a major factor in the future of every business. Those CSRs and producers that are continuously looking for and executing new business development endeavors will be the ones that capture market share and successfully position themselves in the marketplace to go even further.
For more information about the products and services of Jack Fries, visit http://www.jackfries.com.
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