Directory of insurance companies listings and classifications for insurance agents and brokers

Here is the latest revised edition of the best insurance companies lists. It is compiled in a top 100 rating guide format. The lists are arranged alphabetically to help insurance agents and brokers identify an insurance company. Find out how your opinion compares. How do you evaluate an insurance company? I will briefly mention the different methods, and show you which method I used in this article, and why.

According to the number of agents

This rating guide list method evaluates an insurance company by the vast number of insurance agents and brokers currently licensed under contract. with the carrier. I feel this assessment is worthless for several reasons. First of all, there are a number of health and life insurance agencies with thousands of representatives. However, up to 80% of all agents among these are relatively new to trying to establish credibility in the industry. After four years down the line, only 6% of many insurance company agencies will retain enough production to remain professional representatives.

Moreover, our findings reveal the inaccuracy of this method due to the license renewal process imposed by the state insurance departments on the insurance company. Most state insurance departments send renewal report forms on an annual basis. There is a fee to be paid by each in-house agent that renews. What makes it difficult is the variety of different paperwork procedures by individual states to remove inactive representatives. The paperwork consists of costly and time-consuming forms and procedures for the insurance company to make any changes. Renewing all salespeople is often cheaper, and thus the path the insurance company takes a lot. This also gives the insurance company bragging rights about how many salespeople they write to.

Personally, I was shown in State Insurance Service records as licensed 11 years after I wrote my last case.

Insurance company Financial Classification Lists
There are four or five major independent companies that use this insurance company rating of the company based on many financial factors. Much has to do with projecting the financial stability of the insurance company. This is achieved by closely dissecting past and present financial history. It covers how the insurance company’s investments perform and the rate of return. The insurance valuation also takes into account the amount of cash available and the amount of reserves to pay current and future claims.

There is a consensus among members of the Life Insurance Association to believe that the highest-rated insurers are the best in the group. However, association members make up less than 12% of the total producer base. Other insurance agents and brokers (the majority) do not agree that these are always the best to use for their clients’ needs. Logic tells you that a newer quality insurance company has no prior history to start with first. In my situation, clients bought what I gave them. Almost half the time the company has not been the highest rated by rating companies. However, you sell the client what his emotional needs demand. Many of the earlier insurers that later ranked in the top 100 failed financially, and they still do so often in today’s world.

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