What risk does an insurance professional face if they do business without the appropriate license?

Solutions

Expert Solution

Selling of insurance products is tougher and need a strong follow up. Customers have always mentality to avoid the insurance products because it seems no instant benefits. Insurance professionals are very much involving with customers while selling insurance products.

During selling insurance products without the appropriate license insurance professional face these are the following difficulties-

Facing much difficulties of proving himself.
Insurance professional facing difficulties to building confidence among customers.
Losing the incentive and commission.
Customers fear about unethical and untrained insurance professionals.
Without license insurance professional cost of insurance is always high.
Customers are taking much time to purchase insurance products.
Customers are always avoiding having a meeting with such insurance professionals.
These insurance professional facing difficulties while explaining and managing insurance plans.

keosha answered 1 year ago

Next > < Previous

Related Solutions

In bearing risk, what disadvantages do insurance companies face?

What business benefits does Ecommerce provide? What problems do they face?

If you are a medical professional with a license, investigate your state practice act. Do a...

If you are a medical professional with a license, investigate your state practice act. Do a web search to find information specific to your state regarding the scope of practice for your profession. Copy and paste the entire URL below. Provide 4 different scenarios. Provide two scenarios that demonstrate that you are working within your own scope of practice. Provide two scenarios that demonstrate clearly examples of not working within your own scope of practice. In each scenario, explain why...

Liability policies, such as personal liability, professional malpractice, or business liability insurance, do NOT protect the...

Liability policies, such as personal liability, professional malpractice, or business liability insurance, do NOT protect the insured against a. a personal injury on the insured's property, such as the mail carrier who slips and falls on the owner's sidewalk. b. someone injured by the insured away from home or business. c. claims for property damaged by the insured. d. intentional harm caused by the insured.

Explain the concepts of risk pooling and the insurance principle. What does the insurance principle tell...

Explain the concepts of risk pooling and the insurance principle. What does the insurance principle tell investors? In the same context, explain the concept and message of risk sharing. Finally, what is the implication of risk pooling and risk sharing for longer-term investing? Does risk fade in the longer run? Explain.

" Because it does not occur face-to-face, bullies are able to mete out pain without witnessing...

" Because it does not occur face-to-face, bullies are able to mete out pain without witnessing the consequences and victims often cannot stand up for themselves, even if they are so inclined" what do you recieve from the reading above?

What non-financial information is needed for the analysis of business expansion without increasing risk? What sources...

What non-financial information is needed for the analysis of business expansion without increasing risk? What sources of the information would strengthen the making of the decision?

What do we mean by a risk? What are some examples of risks companies face? •...

What do we mean by a risk? What are some examples of risks companies face? • What are internal controls? What is the relationship between an internal control and a risk? Be able to identify internal controls that can be used to address specific risks.

5 What does it mean to you to conduct your business by a professional code of...

5 What does it mean to you to conduct your business by a professional code of ethics? Embedded in the definition of ethics are words such as reliability, fairness, predictability, and honesty. While negative examples of professional ethics are often featured in the headlines, positive examples of ethical business interactions surround you. Before beginning this Discussion question, take a moment to conduct your own research about the ethical standards of the AEC industries. Expand your research by examining how other...

Never present a risk to the senior executive without a risk response strategy. Explain what you plan to do to mitigate the risk above?

The risk of the project :1. Failure to terminate the project within the stipulated scope might lead to potential project risks.2. The scope of the project plan is vulnerable to unpredictable situations and events at the beginning of the project.3. Working with the allocated financial resources might be difficult if the deliverables are changed, which might affect the final results.4. Failure to work through the approaches within the allocated time might also lead to poor planning and alter the deliverables...

Subjects