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A new development in the provision of liability insurance and related services is the availability of online insurance companies. These individuals are trained insurance professionals who represent many different insurers and act on behalf of the client to source and compare policies given the client’s needs to find a competitive rate. Online insurance companies can be ideal for individuals who are unsure about their insurance needs or for those who want to review their existing policies against competitive offerings from other insurers.
The services offered by online insurance companies include procuring automobile and health insurance, as well as life insurance. Online insurance companies derive their income from making a commission on the “sale” of insurance policies. Once you are enrolled as a client they are able to make a partial commission. Once you have completed a specific term (sometimes as little as six months and as much as one year in duration) they earn a second portion of the commission for a secured policy member.
Online insurance brokers are rapidly becoming ingrained in the insurance industry. Where before insurance salesman had to travel or engage in administrative tasks and paperwork the online format of lead generation and sourcing insurer information is far more efficient. Brokers can contact multiple clients and be working on a number of files at once maximizing their commission while providing very customized client support. It is the hands on support that makes the online insurance companies popular while some individuals balk at sourcing insurance on their own via the internet.