General insurance has always been seen as an area which isn’t worth all the time and effort that goes into compiling an application and there is always the added worry that even if you set the policy up, the client will stop paying the premium after a couple of months.
However, even though the upfront money might not be great, having the regular stream of income coming in makes life a little easier and it’s something which brokers should be concentrating on.
Also, with the FSA constantly breathing down our necks, I’ve been trying to take the opportunity of the quiet time to focus on some of the regulation which we’re suppose to be implementing and I’d urge others to do the same.
Yes, it is very time-consuming, and to be fair it’s not exactly the most exciting job in the world, but like all the other jobs you put off, saying you’ll do it nearer the time, the time has never been better.
So I’ll be looking at ‘Treating Customers Fairly’ (TCF) and the other bits and pieces and trying to set my business up to be stronger once the numbers start to come back. All the business I did earlier in the year meant cashflow isn’t a short-term worry so I want to make sure the long-term is rosier. What’s the alternative? Daytime television?
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