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The Right Insurance Partner
Oleh:
Alexander, Neil
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Journal of Accountancy vol. 192 no. 5 (Nov. 2001)
,
page 118.
Topik:
INSURANCE
;
right insurance
;
partner
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ85.13
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Since the AICPA relaxed the contingent fee rules, CPA firms have flocked to insurance as both an urgently needed client service and a new source of revenue. However, even the largest and wealthiest accounting firms don’t have all the technical and managerial expertise necessary to serve a diverse client base in such a specialized discipline as insurance. The solution typically has been to affiliate with an insurance partner - a licensed professional who can handle all of the technical matters related to the client base in such a specialized discipline as insurance. The solution typically has been to affiliate with an insurance partner - a licensed professional who can handle all of the technical matters related to the firm’s insurance business. However, after two years, many firms are already on their second or third insurance partner. Few relationships are living up to original expectations. The overwhelming reason is culture clash. CPA firms have a relationship culture. Their business model is based on hourly billing ; partners and staff build client relationships on many hours of hard work. Insurance agents, on the other hand, use a transactional model. While they may draw on knowledge gained over a long career, the value of their work is often reflected in a single transaction that may take comparatively few hours to accomplish. For CPA firms, the challenge is to select an insurance partner that can bridge this fundamental gap in culture and business model. Given the differences between CPA s and insurance agents, how does a firm choose the right insurance partner ?
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