New Insurance Industry Trends & Statistics - Have You Heard Them?

Employee Benefits:

Stay Ahead of the Voluntary Marketplace with Training from Hartford School of?Insurance

As the landscape of employees shifts, so do the values that they find important when applying for or staying in a role. That is where the insurance professional comes in with a strong product and industry knowledge and the ability to communicate the need for specific voluntary offerings. If you are not up to date on market trends, regulations, and a wide range of products, you run the risk of losing out on business. Here are some trends that have been reported on for?2024:

• ?Across the board, Gen Z, Millennials, Gen X and Baby Boomers rate a People-first work culture as the top initiative they want in the?workplace.1
• When looking at value of a job, 64% of respondents highlighted the importance of flexible parental leave and 62% highlighted mental health and disability?resources.1
• 85% of companies have switched plan designs or carriers at least once in the past five years to satisfy employee needs and overall?cost.2

Hartford School of Insurance's Voluntary Benefit Specialist Program gives students the ability to gain extensive knowledge of the various voluntary products in the market. Case studies and role plays will ensure that benefits professionals will effectively position and differentiate?themselves.

Upon completion of this program, students should be able?to:

• Understand the different types of voluntary products in the?marketplace
• Effectively communicate the need for voluntary products in attracting?employees
• Demonstrate knowledge to successfully manage voluntary?benefits
• Understand the different types of voluntary products in the?marketplace
• Position themselves in enrolling and implementing voluntary programs with their?customers?

Coverage Topics Include: Accident Insurance, AD&D Insurance, Critical Illness Insurance, Hospital Indemnity Insurance, Disability Insurance, Life Insurance, Dental Insurance, Vision?Insurance

Upcoming Program Dates:

• 05/21 ‐ 05/23/2024?|?Virtual/Live
• 07/23 ‐ 07/25/2024?|?Virtual/Live

?REGISTER NOW >

?Personal Lines

With the Current State of Homeowners Insurance, Are You Fully Prepared to Keep Your Clients?Protected?

Navigating the Personal Lines industry in 2024 can be tricky. Specifically, it is predicted that in 2024, homeowners' insurers in the U.S. can expect to post statutory underwriting loss with a combined ratio of 105. That makes this year the sixth unprofitable 100?plus ratio for homeowners insurance.3

Hartford School of Insurance (HSI) recognizes the challenges that Personal Lines Insurance Professionals face and strives to provide educational resources to keep them up to date in a constantly evolving industry. That is why HSI created the new Advanced Homeowners?Workshop.

?3 CE Credits | Three Hour Workshop | $99

This course is designed to broaden your perspective to consider the lifestyles your insureds currently have or may have soon. We are no longer just concerned with knowing acceptable dog breeds, updating jewelry schedules, and covering our kids going away to college. What our insureds say and do, how they conduct themselves in their everyday lives, can have dramatic consequences and pose a great risk of financial loss. Things that many people may never have even considered could create a variety of exposures which are constantly changing. The 2022 ISO Homeowners policy broadened coverage in many ways but also tightened it in others, removing coverage that used to be present but may have gone?away.

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Upon completion of the workshop, students will gain an understanding of topics such?as:

• Insurable Interests and issues with?residency
• Properly insuring?Trusts
• Knowing nearly everything that can be an Other Structure and the limitations around?that
• Making a distinction between Long? and Short?Term?Rentals
• Vacancy issues – they're more involved than you may?realize
• The ISO endorsements critical to correctly covering these?exposures

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Don't Miss Your Next Opportunity to Register for the Upcoming Program?Date: 7/3/2024 | Virtual/Live

?REGISTER NOW >

Sources:

1 - https://www.forbes.com/advisor/business/workplace-benefit-trends-by-generation/

2 -?https://www.benefitspro.com/2024/03/20/workers-want-more-health-benefit-options-employers-concerned-about-cost-survey-finds/

3 - https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/insurance-industry-outlook.html