T H U R S D A Y ,   N O V E M B E R    16,   2 0 0 6

Industry News

LEGISLATIVE CONFERENCE & CONVENTION

Bill O’Reilly to Deliver Keynote Address

Bill O’Reilly will address independent insurance agents and brokers on April 27, 2007 at the Big “I” Legislative Conference & Convention.

O’Reilly, a journalist for more than 25 years, is the host of top rated “The O’Reilly Factor” and “The Radio Factor.” “The O’Reilly Factor” has been the highest-rated cable TV show for more than 200 consecutive weeks. A best-selling author, O’Reilly has written four consecutive New York Times No. 1 non-fiction bestsellers and writes a syndicated column carried by hundreds of papers across the country, including The New York Post.

“We have the No. 1 television commentator in the United States addressing agents and brokers,” says Big “I” CEO Robert Rusbuldt. “A true motivator, O’Reilly is inspirational and, yes, controversial. No matter what you believe about Bill O’Reilly he challenges you intellectually and really makes you think.

“Neither a Republican or Democrat, O’Reilly is an independent who will bring an interesting perspective on issues relevant to our membership, our businesses, and our nation,” continues Rusbuldt.

O’Reilly’s keynote speech will be one of the highlights of the Big “I” Legislative Conference & Convention. Other highlights include an in-depth issues briefing session, appearances by numerous high-profile speakers, workshops, a silent auction, the industry’s biggest tradeshow and more.

For more information about the event, click here.



Legislative Conference &  Convention Web Site Now Live

Join the movers and shakers of the independent agency system for the industry’s most important event of the year. Learn how to better yourself and protect the future of your agency with more than 2,000 insurance professionals. The Big “I” Legislative Conference & Convention is the premier event in the nation for insurance professionals. Agents and brokers are invited to attend this important event in order to help the Big “I” continue the fight to preserve businesses in the federal regulatory arena and to guarantee.

Important issues to that will be discussed include: an optional federal charter (OFC), the attack on incentive compensation, crop insurance and natural disaster preparation.

The event will be held April 25-27, 2007, in Washington, D.C. Click here to check out the legislative activities schedule, workshops and exhibits this event has to offer. Register early and receive special discounted rates.



Apply for The Ultimate Producer Challenge

Are you the ultimate producer? Have you discovered the best mix of personality, salesmanship and technical expertise to write just about any piece of business that you set your mind on? If you meet all the eligibility criteria provided in the application, you could be chosen to compete in The Ultimate Producer Challenge at the Big “I” Conference & Convention in Washington, D.C., April 25-27, 2007.

Along with pride and prestige, The Ultimate Producer Challenge winner receives a $2,500 cash prize and consultations with industry-renowned sales trainer Roger Sitkins.

The Ultimate Producer Challenge was first conducted at the 2005 Big “I” Convention in New York City, where Diane Durnin of J.D. Fulwiler & Company Insurance, Inc. in Portland, Ore., was named winner and Roosevelt Haywood III of Haywood and Fleming Associate in Gary, Ind., was named first runner-up.

Click here to download the The 2007 Ultimate Producer Challenge Application.

For more information, contact Madelyn Flannagan at madelyn.flannagan@iiaba.net.

BEST PRACTICES

Past, Present and Future of Best Practices

The Past. The Best Practices series of tools and seminars was developed out of the need to help Big “I” members maintain and improve the value of their most important asset: their agencies. Since the first products were released in 1993, a continuously growing library of high-quality materials has helped thousands of agencies contrast, evaluate and enhance their performance in areas critical to their continued success.

The need for such help became clear in the early ’90s when a prolonged soft market and increased competition forced many agencies to merge, sell or simply go out of business.  Agencies values, both economically and in the eyes of the consumer, were at an all-time low. Industry analysts and pundits predicted the demise of the traditional independent agent.

Unwilling to accept such a result, the Big “I” set out to help its members reverse the trend.  After all, a significant number of agencies were not only surviving in this harsh business environment, they were prospering. The Big “I” wanted to know what these agencies were doing. By documenting the strategies and business philosophies of the best agencies, the association hoped that struggling agencies would adopt similar practices and increase their profitability and stability, perpetuate their ownership and enhance their viability and value.

The Big “I” began by establishing the council for Best Practices and charging it to find the most successful agencies, study their procedures and then create tools that other agencies could utilize to learn and implement those procedures in their own operations. Partnering with Reagan Consulting and the Westinghouse Productivity and Quality Center, the council sought out the best of the best agencies. Once identified, the agencies were requested to participate in a study to determine their “best practices.”

More than 200 of the top agencies in the country agreed to open their operations and financials, and the first Best Practices study was underway. Through extensive questionnaires, interviews, analysis of financials and on-site visits, patterns began to emerge. Although any agency has unique ways of operating and approaching its chosen marketplace, the research discovered definite best practices all successful agencies pursued. These finding were published for the first time in 1993 as the two-volume “The Best Practices of the Leading Independent Insurance Agencies in the U.S.”

The true heart and credibility of the Best Practices program was established by this first study. These “best practices” findings are not hearsay, the latest management theory espoused by business writers or consultants or the wish list of a carrier. They are exactly what real agencies, who are recognized leaders, are actually doing to succeed where others are struggling.

The Present. Today, only the top 30 agencies in each of six revenue categories are included in the annual study. The fact that these agencies are all chosen for the study and represent the entire spectrum of revenue size adds further legitimacy to the findings. Many other attempts at such studies are inherently subject to distortion in their findings due to either the limitations or randomness of their agency study group. Some studies, for example, are simple compilation of whoever happens to respond to a survey or include only information obtained from a given consulting firm’s clients, or only from those agencies representing a given carrier.

The Future. To guarantee that the information and statistics are as fresh and accurate as possible, updates to the information from the original study are compiled annually, with a full new study completed every three years. The study findings form the foundation for all the Best Practices tools, whether seminar, publication or online resources. The “2006 Best Practices Study Update” is the most current resource and is now available in hard copy and electronically. The Big “I” and Reagan Consulting are accepting agency nominations to participate in the next study series. In 2007, the Best Practices resources will include the update of the “Best Practices in Business Perpetuation and Management Succession” and the “Agency Self-Diagnostic Tool.” A seminar on the diagnostic tool will also make its debut at the  Big “I” 2007 Legislative Conference & Convention in Washington, D.C. and will be led by industry and Best Practices expert Shirley Lukens from Reagan Consulting.

Benefit from the proven success of these agencies, build an agency management plan to reach goals, cultivate an agency environment ripe with prosperity and profits---the Best Practices library will guide agents every step of the way.

For more information, contact Jennifer Becker at jennifer.becker@iiaba.net.

TRUSTED CHOICE^®  

Trusted Choice^® Television Ad Schedules

In September, Trusted Choice^® embarked on a new advertising strategy to benefit its member agencies. This new strategy calls for national cable television advertising for 12 consecutive months beginning in September and running through August 2007.

Each month features numerous Trusted Choice^® TV ads over a two-week period on a single national cable network. Ads are currently running on Fox News, which is a leader in election coverage and has high ratings, making it a natural choice for Trusted Choice^®.  The rest of the schedule is as follows: Nov. 6-19,   Fox News; Dec. 4-17,  The Food Network; Jan. 8-21, 2007,  The Travel Channel; Feb. 5-18,  Fox News.

Click on the station for a detailed schedule of the shows and times the ads are running on each network. Trusted Choice^® is currently scheduling the stations for the six-month period from March to August 2007 and will get that information to our agents as soon as it is available.

“The programs, times and channels have been carefully selected to reach the Trusted Choice^® target market,” says Trusted Choice^® Executive Director Dave Evans. “This ad campaign will be the most effective to date, driving consumers to the Trusted Choice^® Web site and their local Trusted Choice^® agencies to ensure they receive the choices and coverage they deserve.”

Running ads on popular cable TV stations for two weeks out of every month maximizes consumer’s exposure to Trusted Choice^®. The increased frequency of national Trusted Choice^® ads, combined with more agencies than ever before running tie-in ads in conjunction with the national campaign, lead to a greater consistency of exposure to consumers.
 
The “agents/brokers” area on www.trustedchoice.com, under the advertising section, includes print, billboard, radio and television ads that are produced specifically with Trusted Choice^® agencies in mind. All of the advertisements can be tagged with an agency’s contact information. These ads can be downloaded from the Web site free of charge, so the only cost is purchasing the media space. Agents who invest a little time and a small amount of resources in advertising can significantly raise the profile of Trusted Choice^® agencies with local consumers--- including existing and prospective customers.

For additional information, contact Jenner Gohr at 800-221-7197; jenner.gohr@iiaba.net.



INSURBANC

InsurBanc Offers Express Business Loans

InsurBanc recently announced an express business loan program. This program, designed to help insurance agents with short-term financing, offers rates as low as prime*, no application fee ($175 waived), 48-hour approvals with quick closings and streamlined applications.

InsurBanc has combined a competitively priced, short-term loan with no hassles. Applications are available online and can be completed and sent via fax.

These loans can be used for producer development, purchase of automation, furniture and fixtures, office equipment, remodeling, etc. The term of the loans is one to three years with loan amounts from $25,000 to $75,000.

This is a limited time offer, so contact InsurBanc today at 866-467.2262 or visit www.insurbanc.com.

*Rates include automatic payment deduction from an operating account at InsurBanc. Rates will vary based on credit score and are subject to change without notice. Member FDIC Equal Housing Lender.



VIRTUAL UNIVERSITY

Training and Increasing Employees’ ROI

During a time when return on investment (ROI) is factored into everything in business, agency training and development has taken on an entirely new meaning in many organizations. Often, when an agency misses its numbers, the market gets soft or when there is simply a need to cut expenses, training is one of the first initiatives eliminated. This is the dilemma: How can an agency prepare for a positive turn in the market, the next big sale or the unexpected loss of a key employee when investment in the one asset that can actually make the difference is cut?

Employees represent the largest expense for many agencies, but when perceived as an investment, they can have a strong rate of long term ROI if managed effectively. Why is the importance of investing in professional development forgotten in tight times? Most likely because when it comes to training, many believe the task can be handled at another time. The reality is there isn’t always more time, which leads to a loss of opportunity. This turns into a higher cost of sales, employee turnover and reduced ROI from employees.

E-learning has been a positive tool for professionals for years. Why should an agency support e-learning? Will it yield sustained results? The answer is that online learning can provide increased results with reduced costs, less interruption of work and increased employee accountability. The Big “I” Virtual University is continuously evolving and continuing education courses paired with enhanced SkillSoft programs provide what independent agents and brokers are looking for.

There are several reasons why the   Big “I” Virtual University and its many online courses are the right choice for professional development including: state-of-the-art industry professional development courses available immediately; 24-7 access to all courses and reference tools; no travel costs or down time in productivity; online mentoring and job aids; continuous learning tailored to each professional’s speed and level; reduced cost to Big “I” members for immediate savings.

The Big “I” is dedicated to providing its members with the very best learning resources that will maximize the ROI for its members. We are proud to bring quality education directly through the Big “I” Virtual University. So sign up today and make a difference in your agency, for your employees, customers and yourself. Access a complete listing of online courses log onto the Big “I” Virtual University. For more information, contact Madelyn Flannagan at madelyn.flannagan@iiaba.net.



 BIG "I" MARKETS^SM

Community Bank Competition on the Rise

Ever considered trying to write the community bank in your market? Now is a good time to do so. According to Crittenden Research, Inc., competition is increasing in liability coverages for community banks as the p-c markets go after new accounts to offset declining retention rates. It is likely that interest in community banks will intensify as rates for bankers’ general, professional and umbrella liabilities, as well as EPLI, deteriorate. That means this is a great time to take advantage of access to the Travelers SelectOne^SM product for community banks through Big "I" Markets^SM. Travelers is a market leader and its three-year contracts on many coverages help protect against declining retention rates and helps shield accounts from soft market fluctuation. For those in Oklahoma, the Community Bankers Association of Oklahoma recently endorsed Travelers as its preferred carrier. To learn more about the SelectOne^SM product, log onto  www.bigimarkets.com and let community bankers know they can bank on you for their insurance needs.