Homework answers / question archive / Which Key Resources that you identified in the Week 4 Discussion are the most expensive? Insurance agents and brokers are the most expensive because they are the main resources of Insurance companies, especially life insurance

Which Key Resources that you identified in the Week 4 Discussion are the most expensive? Insurance agents and brokers are the most expensive because they are the main resources of Insurance companies, especially life insurance

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Which Key Resources that you identified in the Week 4 Discussion are the most expensive?

Insurance agents and brokers are the most expensive because they are the main resources of Insurance companies, especially life insurance. These are the 1st point of contact for customers who are looking for insurance. These agents and brokers facilitate customers in selecting the best insurance cover by providing all necessary information. As known, Insurance agents usually work for a particular insurance company and sell the insurance products of that company only. Wherein, insurance brokers serve customers who are looking for insurance and so these brokers are associated with multiple insurance companies to sell their products.

• Looking at your current plan for your business model, which Key Activities are most expensive?

Legal and Regulatory Issues because the the company needs to have lawyers who engage in various legal activities like drafting insurance contracts, interpreting provision of contracts at the time of presenting claims, defending the insurance company in lawsuits, communicating with regulators, etc.

• What is the one thing you will have to do to brand your product to your target market?

Marketing will be the key as it mainly includes marketing activities such as advertising and promotion of insurance-related products and services. Different agents and brokers are the sources of sales and advertising for most life and health insurance policies. All the major groups in the insurance industry have their own websites to promote the characteristics of insurance companies' products.