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Unformatted text preview: commercial insurance markets 3. Are important in the surplus lines market IV. Types of Marketing Systems A.Life Insurance Marketing Systems 1. Agency building system 2. Nonagency building system 3. Direct response system B.Property and Liability Insurance Marketing Systems 1. Independent agency systemlocal agent represents several insurers. 2. Exclusive agency systemthe agent represents only one company or group of companies, does not own expirations, gets lower commissions, and, in exchange, receives strong support from the company. 3. Direct writerthe salesperson is an employee, company absorbs all selling expenses, and employees are compensated on a salary/bonus basis. 4. Direct response systeminsurers sell to selected market segments using the Internet, television, or other mass media. 5. Multiple distribution systemmany insurers are now using more than one marketing system to sell insurance. V. Group Insurance Marketing...
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- Summer '08