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T H U R S D A Y , M A R C H 2 2 , 2 0 0 7 Industry News ACT Tired of Managing Carrier IDs and Passwords? The Agents Council for Technology (ACT) is proposing to insurance carriers that a security and privacy alliance be set up to address the current inefficiencies agencies are experiencing in having to remember and manage separate employee identifications and passwords for each carrier. ACT would like to see these IDs and passwords replaced with a single digital logon credential (such as a digital certificate) that would be unique to each agency employee and would have the advantage of being accepted by multiple insurance carriers. This digital credential would reside on the agency employee’s computer, would be issued by a trusted third party such as Verisign or Cybertrust, and would seamlessly authenticate the employee when accessing carrier Web sites or performing real-time transactions with carriers through the agency management system. This digital credential would have the additional advantage of allowing the agency to simply turn off the digital credential when an employee is terminated, rather than having to remember to turn off the password with each and every carrier.
Other industries have successfully implemented systems of single digital logon credentials, but because the insurance carriers would have to make significant investments to create a new system, they want to make sure agencies see enough benefit in the new approach before implementing it---even though it is likely to only cost agencies about $15 to $25 per employee per year.
It is important that agents take a few minutes to take the following online survey and answer a few questions to register whether their agency would prefer to use a new system. To take the survey click here.
EDUCATION Register for Elite Force Sales Training Make plans to attend the most comprehensive insurance sales training course available---Elite Force Sales Training, where students average results of more than $62,000 in first-year commissions.
Elite Force Sales Training is designed to be a complete training program for newer producers (recommended for agents with less than three years in sales and less than five in the insurance industry) who have a basic understanding of the sales process who now seek the foundation of a strong sales skills program.
Students will benefit from 12 full days of training, conducted three days at a time, and work with experienced instructors who utilize practical education, books and videos from the industry’s best. Students who attend all sessions, complete the homework and reporting requirements will earn the Associate in Insurance Production (AIP) designation.
Here’s a small sample of the topics covered:
• Time management
• Personality traits
• Negotiation skills
• Consultative relationship building
• Presentation skills
• Carrier relationships
• How to involve the sales/CSR team
• Conflict and politics
• Best Practices and creating a sales culture
• Business etiquette
• Setting, measuring and tracking goals
In fact, goal setting and reporting are the "written" requirements of earning the AIP designation, an additional benefit of attending the Elite Force Sales Training sessions. Instead of the traditional paper-and-pen academic testing of most designations, the AIP requires that each student submit a monthly written report that tracks activities and production results.
Classes begin June 27. Class size is limited to 15 students to ensure everyone receives individual attention. Click here to review the schedule, investment, detailed curriculum, meet the instructors and more. For more information on Elite Force Sales Training call 800-221-7917 and speak to the education department or e-mail Jennifer Becker at jennifer.becker@iiaba.net.
BIG “I” MARKETSSM Introducing Gap Insurance
Earlier this week, Big "I" MarketsSM and the Massachusetts Association of Insurance Agents announced the introduction of gap insurance as a new product. The introduction of this product represents a milestone in that it is the first time a state association has embraced the Big "I" MarketsSM Pioneer concept. The Pioneer concept is a strategy to accelerate the rate at which markets are added to Big "I" MarketsSM by urging states to become “pioneers.” States can do this by using Big “I” MarketsSM to increase the distribution reach of insurance products they market to reach members in all 50 states. By doing so, the sponsoring state can earn additional revenue on business written by any member on Big “I” MarketsSM.
Just what is gap insurance? Upon a total loss to a vehicle due to accident or theft, gap insurance pays the difference between the net loan balance owed and the auto insurance company's settlement amount (actual cash value less deductible). Click here to view a video news clip called “Why Purchase Gap Insurance?” To learn more, click here.
YOUNG AGENTS Conference & Convention’s Young Agents Events
The National Young Agents Committee is offering events geared specifically for up-and-coming leaders at the Big “I” Legislative Conference & Convention. Special sessions include: a first-timers reception, the Young Agent attendee and InsurPac chairs luncheon, a hospitality event, bus tour of Embassy Row and the always-popular President’s Panel breakfast with Big “I” leadership. Joining Big “I” President Alex Soto on the President’s Panel are: Spencer Donkin, senior vice president, sales & distribution, Safeco Insurance; Bob Restrepo, chairman, CEO and president, State Auto Insurance Companies; John Lynch, executive vice president, head of U.S. small business, Zurich North America; and James Hyatt, president of personal lines, The Hanover Insurance Group, Inc.
Young agents will gain valuable legislative and leadership skills at this ground-breaking insurance industry event. The Big “I” Legislative Conference & Convention will be held at the Marriott Wardman Park Hotel in Washington, D.C. April 25-27.
For more information, contact Katie Cosgrove at 800-221-7917; katie.cosgrove@iiaba.net.
VIRTUAL UNIVERSITY VU Newsletter Delivers it All
Need a great way to stay on top of all the latest coverage developments in the insurance industry? Want to know what personal or commercial lines policy language changes have been introduced and how these will affect clients?
Then look no further than the Big “I” Virtual University e-newsletter, VUpoint. A free, biweekly publication, this e-newsletter is e-mailed to subscribers in the United States, Canada and more than 70 other countries around the world.
Each issue comes with timely and insightful articles that will help keep an agency’s staff---managers, producers, CSRs and support staff alike---current on all that matters in their profession. Every other week, VUpoint explores agency-relevant topics such as personal lines, commercial lines, agency management, sales and marketing, customer service, technology and Internet issues.
Some of the articles featured in recent weeks include: “Coverage A Limit and Debris Removal,” “Garage-keepers vs. On-Hook Coverage, “Quality Control vs. Service Delays,” “Client Recovery,” “Lessons from a Sandpile” and “Phishing…Don’t Get Hooked.”
With relevant, timely and interesting articles in every issue, VUpoint has quickly become a must-read for insurance professionals. Since its launch in early 2000 to 32 original subscribers, readership has grown to more than 25,000 and continues to grow. And a survey conducted by Specific Software Solutions found that VUpoint is the top-rated industry newsletter, garnering four times as many votes as the closest publication.
Agent Diane Mooney of the York Insurance Agency in York, Neb., says, “I always look forward to opening my e-mail and seeing my Virtual University newsletter there. I think you have some great articles that are very beneficial to all employees of an agency, from the receptionist to management.”
And Independent Insurance Agents of Rhode Island Education Committee Chair Joyce Hartman says, “I love the articles. This is my new insurance bible.”
As an added feature, when subscribers register they will receive a personal VU login, for immediate access to the VUpoint’s archives dating back to March 2000.
Go ahead and take a look at the current issue and then click here to subscribe. New subscribers will receive an e-mail response along with the latest edition of the newsletter. Simply reply to the e-mail to confirm the subscription.
For more information about the Virtual University, contact Madelyn Flannagan at madelyn.flannagan@iiaba.net.
InVEST Conference & Convention Features InVEST Silent Auction
Don’t miss the chance to support the next generation of industry professionals. Participate in the InVEST Silent Auction and support the program’s annual scholarships awarded to graduates of InVEST who are pursuing higher education with an emphasis on insurance.
The InVEST board of directors will hold the 2007 InVEST Silent Auction during the Big "I" Legislative Conference & Convention, April 25-27 at the Marriott Wardman Park Hotel in Washington, D.C. The InVEST Silent Auction will open on at 6 p.m., April 26 and will close at 1 p.m., April 27. Be sure to keep an eye on bids – the InVEST Silent Auction is a popular event during the conference and convention.
A 501(c)3 educational trust, InVEST introduces high school and community college students to insurance and the more than 350 diverse careers available within the industry giving students a new outlook on the future. The program offers insurance agencies, brokers and carriers a diverse and talented group of entry-level recruits.
Click here to access information regarding the InVEST Silent Auction including updates on the great auction items. Visit www.independentagent.com and click here to download a contribution form.
For more information, contact Sandra Skipper at 703-706-5437; sandra.skipper@iiaba.net.
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