Wednesday, July 23, 2008

Just RANTING

1.

I have been saying for months that the FTC’s “Red Flag Rule” was never intended to be all encompassing. As many of you know there has been a difference of opinion on this subject with some individuals going as far as using the rule as a scare tactic in order to profit. In my opinion, there is enough to worry about as a business owner in regards to identity theft without having such profiteers lurking about. Finally, the FTC is weighing in on this subject. I have included a recent article that addresses this issue.
http://www.consumeraffairs.com/news04/2008/07/red_flag.html

2.

Now, I am speaking to the companies that are out there offering “compliance training” and charging thousands of dollars and to the insurance agents selling identity theft services and products: Be careful and do what is right for the client.

It is only a matter of time before every adult individual in the United States will be carrying an identity theft policy/service in their portfolio. Be patient and offer the best product - not the most convenient one. The sales will come.

Remember, insurance agents make their real money in residual income. If you are seen as a partner of your client instead of seeing your client as a profit center you will realize a long term residual income and more referrals then you alone can handle. NOW go out there and do what is right.

3.

Lastly, keep in mind, “time will promote or expose”. This is very important to all of the companies coming to the market with a new identity theft product. Bring the public the best product you can and the market will reward you. If it is a product like LifeLock or ID Rehab (now Identity Watchdog) you will find out that time will expose their shortcomings. Keep in mind, indecent exposure is still illegal in most places around the world.

The consumer is not STUPID and good advertisement will not conceal the flaws of your product forever.

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