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Industry News

Best Practices
‘Customer Service Made Simple’ Now Available

Many service experts indicate that a 5% increase in customer retention translates into a 50 % increase in future profits. One way to increase customer retention is by offering superior customer service. That’s one of the reasons why the Big “I” produced the Best Practices guide “Customer Service Made Simple: An independent agent’s guide to superior customer service.”

From marketing for growth to online services, this guide includes priorities and tactics to help you set and achieve your customer service goals. Learn how to lead your team to better evaluate customer feedback, increase the number of policies written and significantly improve account retention and development. The guide also includes a free copy of “The Quality Journey,” a seven-page worksheet designed to determine how far an organization has advanced on the journey to quality operations and customer service.

”Customer Service Made Simple” is available for $29.95, shipping and handling included. And, for a limited time, orders of five or more will pay only $10 per copy.

To order a copy of the 2006 Best Practices Study or any other Best Practices product, click here to access the Best Practices Gateway. Visitors can browse the latest research on top-rated agencies, rank their performances against the Best Practices agencies, download useful tools to improve performance and share opinions and experiences on a variety of agency management issues. The Gateway also provides a performance quick check that compares an agency’s performance in seven areas critical to agency value and obtains an overall weighed performance score. Readers also can review a complete menu of all available Best Practices resources, download samples and obtain ordering information. For more information, contact Madelyn Flannagan at 800-221-7917; madelyn.flannagan@iiaba.net.

Nominate Your Best Practices Efforts

The Big “I” is seeking applicants for the 6th Annual Best Practices Award of Excellence. This award acknowledges insurance companies for their exceptional efforts in promoting, marketing and implementing Best Practices tools, seminars and philosophies to agents throughout the year. Dedicated companies deserve recognition for their continued outreach to provide a variety of invaluable resources to their agency force in efforts to enhance the independent agency system.

Up to five awards will be presented during the 2007 Big “I” National Legislative Conference & Convention in Washington, D.C. In addition, the award winner(s) will receive recognition in a press release and various Big “I” publications. Each entry must include a completed and signed applicant information form and answers to the submission questions or an essay. Applicants also can provide visuals, such as examples of publications, marketing and communication materials, to supplement submissions. A Best Practices Award of Excellence application is available at www.independentagent.com. All applications must be received by Feb. 1, 2007 and recipients will be notified by March 1, 2007. For more information, contact Jennifer Becker at 800-221-7917; jennifer.becker@iiaba.net. 

Virtual University
Is Online Learning for You? 

 For many people who cannot access traditional learning opportunities, online programs are the best alternative to meeting educational goals. The majority of VU students chose to learn online because they need one of two things: flexibility to choose when and where they study. Some have multiple work and family obligations, and this is a way for them to continue their education and develop their career path at the same time. Many students select to learn online because they simply don’t have the time during the workday to attend a class across the state, or even across town. 

Some insurance students are better suited to online learning than others. A student who succeeds in the online learning world is generally self-motivated and self-disciplined, has the ability to work independently, is comfortable with the written word and e-mail and will ask for help when needed. Although travel time is negated, an online student must have the time to dedicate to the coursework and be able to take the requisite exam uninterrupted. Students in an online classroom should expect to spend as much time on their course as they might in an onsite classroom.
Additionally, a distant learner has to meet certain technical requirements and be comfortable with the format of using a screen vs. a textbook to learn.

Take the self-assessment test below to find out if online learning is for you:

1.  Do you have the ability to prioritize your responsibilities?
2.  Would you classify yourself as someone who gets things done on time?
3.  Do you prefer to learn on your own and work independently?
4.  Are you self-motivated?
5.  Are you good at following written instructions?
6.  Do you have access to a computer with an Internet connection?
7.  Are you comfortable using e-mail as a form of communication?
8.  Do you have basic computer skills?
9. Are you comfortable with the idea of trying new technologies?
10. When you need assistance, do you ask for it?
11.  Do you have important reasons for exploring online education (Examples: busy lifestyle, geographic isolation, family requirements or restrictions, corporate support to learn at work)?

The more questions you answered yes to, the more you fit the profile of a successful online student. 

The Big "I" University Online Classroom area provides the insurance industry with quality online education to supplement and enhance traditional learning methods. Learning when you have available time and wherever you happen to be. Take a look at the VU courses and experience a new way of getting the critical training you need to succeed in your career as an insurance professional. Click here to view the course catalog of nearly 100 classes and find one that interests you.

For more information, contact Madelyn Flannagan at 800-221-7917; madelyn.flannagan@iiaba.net.

IIABA NEWS
Soto Named One of Most Influential Hispanic-Americans

What does Big “I” President Alex Soto have in common with New Mexico Governor Bill Richardson, Texas Congressman Henry Cuellar, New Jersey Senator Robert Menedez and LA Dodger Nomar Garciaparra? They were all recently named to Hispanic Business Magazine’s list of the 100 most influential Hispanic-Americans in the United States. Click here to view the list.

Big “I” Takes its Case to Lawmakers Through Capitol Hill Media

The Big “I” was active in the inside-the-Beltway media in September, peppering the pages of The Hill newspaper with ads and an op-ed by CEO Bob Rusbuldt before Congress left for recess to hit the campaign trail.

The Big “I” ran an ad three times in support of comprehensive flood insurance reform and another ad three times on the need for natural disaster legislation in the most widely read publication focusing strictly on Congress and the federal government.

Additionally, The Hill ran Rusbuldt’s op-ed on why the Big “I” supports a federal-tools, state-based reform approach rather than a federal insurance regulator. This timely op-ed was published a week before Rep. Ed Royce (R-Calif.) announced his optional federal charter bill in the House.

The Hill is distributed to all 535 members of Congress and their staffs, as well as other leading movers and shakers in the nation’s capital. The Big “I” ran ads on 12 occasions this year as part of its comprehensive media strategy to advance members’ interests in Congress. This advertising is just another tool, along with outreach to reporters and editors and strategically placed op-eds, in our overarching media campaign to gain a presence in trade and consumer publications, as well as the broadcast media.

Big "I" MarketsSM
Big "I" Markets Offers Commercial Packages

Agent Richard Cook from the Integrity Insurance Agency in Anchorage, Alaska, had a unique situation. One of his top employees was moving to Florida and, rather than lose the employee, Cook decided to help the person open up a branch office in Florida. One of the challenges Cook faced was finding a market to insure the new office. That's when he turned to Big "I" Markets. According to Cook, “The underwriters were very responsive and I intend to use this market a lot more.” The commercial package product offers a wide spectrum of coverage available under a single portfolio policy. This gives you the capacity to combine broad property, liability, commercial auto and umbrella coverage. So make sure to offer a competitive quote from Big “I” Markets to all of your clients who need to insure their offices. Like Cook, you may find that you can knock the competition off their horses. Learn more about the commercial offerings available through Big "I" Markets, the online market access program available exclusively to Big "I" members, at www.bigimarkets.com.

InsurBanc
InsurBanc Offers CDs

Why settle for low rates for your cash? InsurBanc, the only bank completly dedicated to the insurance industry, is making it easy and profitable for you to make the most of your cash now with two premium rate products. InsurBanc is offering some of the most competitive rates around for CDs and money market accounts to help you meet all your cash needs. With InsurBanc’s new CDs, you benefit from rates as high as a 5.3 % APY* for 18 months or 5.05% APY* for eight months. For your immediate cash needs, InsurBanc’s new money market account has rate as high as 4.5%, APY depending on your balance.** You’ll also receive expert financial consultation and your own personal transition team of experts. To open an account, contact InsurBanc at 1-866-467-2262 or at www.insurbanc.com. 

* $10,000 minimum to open a CD. An eight month CD has a 5.05% APY. An 18 month CD has a 5.3% APY. New money only. Early withdrawal penalties apply. Rates subject to change without notice. No bonus basis points.
 
** Minimum balance to earn a 4.5% APY is $300,000. Rates are tiered with for example a 3.49% rate requires a balance between $100,000 and $300,000.