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July Cover Story
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Change Agent
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It’s never too early --- or too late--- to increase your agency’s value.
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Where is your agency in its lifecycle? Is it new and growing, middle-aged and comfortable or old and showing signs of decline? Whether your firm is young, old or in-between, efforts at increasing its value will be less effective if smart and regular growth isn’t an ongoing occurrence. Without continuing profitability and expansion, an agency begins to stagnate and atrophy sets in—and it rears its ugly head in agency valuation.
Also in this issue:
Ace Insura
The Case of the Delivery Dilemma
Insurance Views
Exit Planning
Chairman’s Voice
Flooding Hits Midwest
On the Hill
Credit Scoring Draws Congressional Scrutiny
NEW! On Branding
Make Your Brand Story Stick
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Online Features
Agency Management: How to Fire a Customer
Agency principals sometimes face the difficult task of firing a customer. Some customers frankly are more trouble than they’re worth. Some demand too much service in relation to the premium paid and others just aren’t a good “fit.” So, how do you non renew these customers legally and ethically?
Sales: The 10 C’s of Relationship Marketing
Put your customer hat on for a moment and think about the last five to 10 interactions you had with a vendor. How many of these encounters left you feeling like the company had made an effort to build a long-term relationship with you? Did you get the feeling that the company really cared about you and your business success?
Customer Service: Focus on Follow Up
A prospect becomes a customer. They moved their account to you with high expectations—created during the sales process—and they anticipate great things from the new relationship. Time goes by and nothing happens; no contact, no policy, nothing. This can and will affect your bottom line, but there are ways to avoid it.
Technology: Managing Multiple Passwords
Keeping all your passwords straight can be an almost impossible task. Do you pick the same password and use it everywhere or do you write them down? Both are dangerous. However, there is a trick for making semi-customized passwords that will be easy to memorize but still unique to each site.
Coverages: Are Your Insureds Covered When Renting Watercraft?
In many cases, people own the watercraft they use and rely on a boat or yacht policy, but, in other instances, they rent them. There are some serious exposures when clients rent sailboats, houseboats, jet skis or other watercraft and have only their HO policies to rely on.
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