General insurance agents in Ontario are reminded they
must have all CE hours in place by September 30 in order
to renew their license.
Call 1-800-404-2211
if you need hours.
New
Look
Some
of you may have noticed that the ILS Learning Corporation
look is changing. Over the next few months, ILS will
be phasing in a new logo and making small changes to
the website. We hope that you like this new look and
that you will find that the changes make things even
better for you!
Customs officials in Cambodia have seized a dozen luxury
vehicles that had been stolen from Canada.
The vehicles recovered included a Hummer and a Cadillac.
Each of the vehicles were registered in Ottawa and each
is a 2003 or later model.
Luxury car theft is not uncommon in Canada with an
estimated 20,000 vehicles annually loaded into shipping
containers and sent overseas. However, according to
Interpol, this instance is one of the first times that
Cambodia has been involved.
Cambodia is one of the poorest countries in Asia, with
roughly one-third of its population living on $1 or
less each day.
The Insurance Bureau of Canada says that the vehicles
will return to Ottawa though it could take at least
a month to do so.
--
Lack of buildings holding commercial real estate back
According to a stuffy by CB Richard Ellis Ltd., the
decline in commercial real estate investments is largely
due to a lack of suitable buildings rather than a shortage
of funds.
Commercial real estate investments fell 12 per cent
in the first half of 2006, to $6.8 billion, mainly because
developers could not find enough fitting properties.
CBRE found there were only 1,850 commercial transactions
across Canada in the first half of the year, down 14
per cent from last year.
The industrial and retail sectors were the most active,
with each segment showing investment of $1.8 billion.
Office investments fell by a sharp 32 per cent to $1.8
billion.
Investments in Toronto are down by 20 per cent. Calgary
is the fastest growing commercial market, up 24 per
cent in the first half of 2006.
--
Telecommuters feel more productive, less clothed
As gas prices continue to rise and commutes are getting
longer as the urban sprawl grows, more people are choosing
to work from home when possible.
According to a poll by SonicWALL Inc., 76 per cent
of respondents said that they feel more productive when
working from home. However, they also tend to feel a
bit more liberated as well. Twelve per cent of male
respondents and seven per cent of females said that
they are naked while conducting company business from
their homes. Even more workers admit to wearing sweat
pants or pyjamas rather than more typical business attire.
--
Alberta auto insurance cut by 3 per cent
Auto rates in Alberta are poised to get lower. The
provincial regulator has ordered insurers to cut premiums
on basic insurance by three per cent, effective this
fall.
On average, insureds can expect the rate cut to save
them between $18 and $30 though most drivers won’t
see this until their policies are up for renewal on
November 1 or later.
Alberta’s current auto insurance rates, at an
average of $1,025, are less than the Ontario average
of $1,321 and the British Columbia average of $1,059.
There are inherent differences between men and women, and
managerial strategy is one of the key differences. Elaine
Allison, author of "The Velvet Hammer: PowHERful Leadership
Lessons for Women Who Don't Golf" is joining ILS Learning
Corporation as the newest Strategic Partner.
To mark this alliance, Allison's course – "How
and Why Women Can and Do Lead Differently; Leadership Skills
for Women in Insurance" – will be launched on August
16. You can receive 2 credits towards your Life, A&S,
General Insurance, Adjuster, Technical or Professional/Management
mandatory licensing requirements by taking this course online
at www.ilscorp.com or
www.elaineallison.com
Through her extensive management experience, Allison, a corporate
trainer, international speaker and author, has developed leadership
strategies for women.
"When we acknowledge and leverage these differences
in how men and woman lead, we grow healthier, stronger organizations
and more effective leaders," she says.
For more information, contact ILS Learning Corporation at
1-800-404-2211 or at info@ilscorp.com.
Expert Marketing Secrets That Will Make You and Your Business
Successful
ILS invites you to attend a private 1-hour teleconference
with Grant Hicks, co-author of ‘Guerrilla Marketing
for Financial Advisors’.
Wednesday, 23rd August, 2006
10:00 – 11:00 am PST
In this teleconference, Grant reveals ‘Marketing Secrets
I Wish I Knew 5 Years Ago That Would Have Saved Me a Fortune
in Time and Money’.
Visit www.ilscorp.com
for further details and to register now! Spaces limited to
25 participants.
Investment Opportunities for Lenders, by Kevin Neufeld,
Director of Program Development, CSI Training. www.csitraining.com
I was in a branch recently speaking with a group of investment
people. I asked what sales goals they were working on that
week. They said that they were behind on their target for
getting in new investment money so they were making phone
calls to their customers they hadn’t spoken to in a
while trying to find out if they had investments elsewhere
and if so if they could transfer them over. I really admired
their initiative. Good long-term follow-up with customers
is essential if you want to keep them coming back and buying
more products and services from you. Nevertheless, these calls
can be intimidating when you are interrupting a customer’s
day/evening trying to see if there is more business to be
had with them. These folks were game to make the calls despite
their nervousness and apprehension so we talked a bit about
the techniques they could use and how to deal with rejection
should they experience some.
After I met with the investment people I spoke with the lenders.
Because I knew about the branch goal I asked them how many
loans they had done that week and out of those loans how many
of the customers had investments elsewhere. To my surprise
they didn’t really know. I asked how many of the customers
that did have investments elsewhere transferred them over
to their financial institution or at least made an appointment
to speak with someone about their investments. Zero, nada,
nothing, zip. When asked what the lender says to the customer
to try to get a conversation going around the investments,
that is when a dark situation got even darker. They weren’t
even asking!
I thought this was quite strange. Here on one side of the
branch there was a group of people making outgoing calls to
customers trying to generate some new investment business.
And here you had customers coming into the branch that wanted
something (a loan), told the person that they had investment
money elsewhere, and that person was not even asking about
the investment or making any attempt to win the business.
Shocking! If I was on the investment team I’d be choked!
Here you are being proactive trying to bring in new investment
money by making cold calls when all the while the potential
business is walking in the door and the other part of my team
isn’t even sniffing at the opportunity!
So what should they do?
Lenders, when you find out that the customer has investment
money elsewhere follow these simple steps:
1. Ask them how they feel about the investment. If it’s
performing well for them and they are completely satisfied
why would they want to switch? Right, they probably wouldn’t.
Don’t “product dump” by telling them all
about your great investments and investment people. Instead
ask them where they are at with the investment – are
they happy, making enough, satisfied with the recommendations
and/or service they are getting.
2. If they respond that they are at all unsure about the
investment, unhappy, concerned or ambivalent then ask something
like this: “Mr. Customer, if I thought we could get
you into a better investment, one that you were a little more
confident in, would you consider speaking with someone about
that just to explore some options?”
The whole idea with this approach is that you are not going
after a home run – a sale. You are not trying to get
the customer to switch their investments in the middle of
a loan appointment. All you are trying to do is get agreement
that they are not thrilled with what they are currently invested
in and then that they’d be open to speaking to someone
about it – just to “explore options”. You
know as well as I do that if the customer agrees to meet with
one of your investment people they are half way there to making
a switch. In their minds they have already started to consider
moving their investments.
Finally, if you really want to get good at this skill track
how many loans you do, how many of those people have investments
elsewhere and how many referrals or people did you get to
switch. This will give you a great summary of how effective
you are at getting the customer talking about their investments
and it will also make sure it stays top of mind during your
loan interviews.
If you would like to see some practical examples
of this technique being demonstrated, our new online course
“Capitalizing on Investment Opportunities for Lenders”
will be launched on August 30th by ILS. The course will be
available at www.ilscorp.com
and www.csitraining.com.
“People don’t miss opportunities because they
don’t get them; they miss opportunities because they
weren’t prepared when those opportunities presented
themselves.”
Win your way aboard
ILS Learning Corporation would like to have you on board
for the inaugural Advantage Performance Series (at Sea) Caribbean
cruise in January 2007. Now, you can win your way there!
Every time you complete an ILS Learning Corporation online
course between July 1, 2006 and November 1, 2006, you will
automatically be entered in a draw for the trip. The more
courses you complete, the better your chances of winning!
Education really does have rewards.
For more information, check out our Web site: www.ilscorp.com
Secrets to be a Successful Marketer now available at www.ilscorp.com!
Are you a business owner looking to add marketing to your
skill set?
Do you want to stand out in a crowded marketplace?
Now you can be part of the best selling marketing series in
history and measurably increase your profits!
Based on the best selling book “Guerrilla Marketing
for Financial Advisors” written by Grant Hicks and Jay
Conrad Levinson, this online video course is our most comprehensive
marketing program for professionals. This course contains
more than forty dynamic marketing ideas for Financial Advisors,
insurance agents, wholesalers, stockbrokers and their assistants.
Receive 8 CE credits towards your Advocis, Accident and
Sickness, Life and CFP mandatory licensing requirements.
While the sun is still shining and weekend cottage getaways
are still happening, Canadians can not forget about the impending
winter. Below is a list of average January temperatures at
various locations:
Four of those seem a lot better than the rest, don’t
they? Now imagine yourself from the week of January 21, 2007
through January 28, 2007 enjoying the temperatures in Fort
Lauderdale, St. Maarten, St. Thomas or the Princess Cays instead
of in Iqaluit, Montreal, Winnipeg or wherever else in Canada
you may be.
And, as if you need a reason to escape the harsh Canadian
winters, ILS Learning Corporation is happy to invite you to
the Advantage Performance Series (at Sea) Caribbean Cruise.
Get ready for a fun vacation and enjoy sun and seminars onboard
the Princess Caribbean!
Receive up to 12 CE credit hours onboard towards your Life,
A&S, General Insurance, Adjuster, Technical or Professional/Management
mandatory licensing requirements.
We are pleased to announce that the keynote presenters for
the seminar series are Grant Hicks, CIM, FCSI, co-author of
Guerilla Marketing for Financial Advisors with Jay Levinson,
and Steve Hawrishok, B.Ed., AIIC, CAIB, President of ILS Learning
Corporation.
Book now to avoid disappointment!
For more information or to book, please contact ILS Learning
Corporation at 1-800-404-2211 or at info@ilscorp.com
E&O Scenario #2
One E&O insurer doing business in British Columbia recently
stated that approximately 75% of the brokerages they insure
have had at least one E&O claim over the last 5-year period.
While more than half the reported claims closed without payment
to the claimant, brokerage management were still faced with
dealing with a lot of initial stress, concerns over possible
legal fees and loss to their business reputation. Adopting
and implementing an E&O risk management program in your
brokerage will help reduce your changes of your becoming one
of the 75% group. It will also help avoid the other problems
that invariably arise as a consequence to it.
Test Your E&O Knowledge!
The following E&O scenario has been prepared for ILS
Learning Corporation subscribers by Larry Munn, a senior member
of Clark Wilson’s Insurance Group. If you have any comments
about this scenario or would like further information about
E&O and insurance claims, please contact Larry at (604)
643-3160 or lm@cwilson.com.
Please read the following scenario and determine whether
the agent is liable or not liable. Good luck!
The client, a consulting and advertising business for new
home sales, has dealt with the same insurance agent for a
number of years. The client has seen its business grow substantially
and come to rely more and more on its computer system. The
client hires an independent contractor to update the computer
system. The client has a policy of insurance that excludes
loss resulting from the dishonest acts of its employees and
persons entrusted with its property. The agent does not review
the policy exclusions with the client. However, the agent
is also not aware that the independent contractor is working
on the computer system. The independent contractor steals
and destroys the computer system. The insurer denies coverage.
Is the agent liable, and why/why not?
2 FREE CHAPTERS!
Try out one of our ILS online video CAIB Exam Preparation
courses absolutely free! Sign-up and experience 2 chapters
of the same dynamic instruction that students receive at the
UBC or Saskatchewan CAIB immersion courses, without leaving
your home or office! See what everyone is talking about!
Elaine
Allison Joins ILS as a Strategic Partner