Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
CPCU 520 Chapter 3
CPCU 520 Chapter 3 Insurance Marketing and Distribution
| Term | Definition |
|---|---|
| Focus group | a small group of customers or potential customers brought together to provide opinions about a specific product, service, need or other issue |
| Predictive analytics | statistical and analytical techniques used to develop models that predict future events or behaviors |
| Market segmentation | the process of identifying and dividing the groups within a market that share needs and characteristics and that will respond similarly to a marketing action. |
| Target marketing | focus marketing efforts on a specific group of buyers who are a subset of a larger market |
| Niche marketing | a type of marketing that focuses on specific types of buyers who are a subset of a larger market |
| Distribution system | the necessary people and physical facilities to support the sale of insurance products and services |
| Agency expiration list | the record of an insurance agency's present policyholders and the dates their policies expire |
| Countersignature laws | laws that require all policies covering subjects of insurance within a state to be signed by a resident producer licensed in that state |
| Managing general agent (MGA) | an authorized agent of the primary insurer that manages all or part of the primary insurer's insurance activities, usually in a specific geographic area |
| Affinity marketing | a type of group marketing that targets various groups based on profession, association, interests, hobbies and attitudes |
| Cold canvass | contacting a prospect without an appointment. |
Created by:
CHahnCPCU
Popular Insurance sets