|
|
 |
 |
T H U R S D A Y , D E C E M B E R 21, 2 0 0 6
Industry News
AGENCY UNIVERSE
Pre-Order the 2006 Agency Universe Study
The Future One 2006 Agency Universe Study is now complete and available for Big “I” members to pre-order. Orders will be filled during January 2007.
The 2006 Future One Agency Universe Study is the eighth of its kind. The first study was conducted in 1983 and was repeated every four years until 2000 when the study began to be done biannually. This study is widely regarded as the most comprehensive and authoritative investigation available on the independent agency distribution force.
The primary focus of the Agency Universe Study is to provide information on the size and characteristics of the independent agency system beneficial to developing more effective marketing and business practices. Within each report is a wealth of information about independent agencies operating in the United States: their numbers, revenue base and source, and number of employees, ownership, mix of business, diversification of products, technology uses, non-insurance income sources and marketing methods. A particular focus of the 2006 study is the increasing use of agency network relationships and their impact on the business operations of agencies. The study also includes a comprehensive look at agency technology practices.
The report and findings can be ordered in various formats. The summary, which is snapshot of some of the findings of the full report, can be ordered in hard copy (mailed) or electronic delivery (e-mailed PDF). The full report is available only in electronic format (e-mailed PDF). Click here to download your pre-order form today. For more information, contact Madelyn Flannagan at madelyn.flannagan@iiaba.net.
BIG "I" ADVANTAGESM
Majority of Holiday Hosts Lack Personal Umbrella Coverage
A majority, 56% of people planning to host a holiday party, do not have personal umbrella coverage. With the holiday season in full gear and parties from now until the Super Bowl, protecting family, friends and neighbors is important. Be sure customers know about the personal umbrella policies available from RLI.
Big "I" members have access to a stand-alone personal umbrella policy from A+ rated carrier RLI to help meet clients' needs. RLI's PUP stands atop existing homeowner and auto insurance to provide an extra layer of personal liability protection for clients with $1 million to $3 million and $5 million liability limits available nationwide. Optional auto underlying limits of $100/$300/$50,000 are available for risks without youthful operators and broad underwriting guidelines allow easy qualifying for the program. The application is self-underwriting so applicants know as soon as they’re finished whether they’ve qualified for coverage. Competitive premiums can help convince clients to purchase this important coverage. Click here to download the RLI Administrator Contact List, or visit www.independentagent.com/RLI to learn more.
VIRTUAL UNIVERSITY
Give the Gift of Knowledge
The holidays are here and many business owners are searching for the right gift to give their staff. How about one that will promote professional growth, success and will be useful everyday? Virtual University has a suggestion and it’s free to all Big “I” members. By simply giving each employee their own ID and password to the Big “I” Virtual University, members are opening up a whole new world of knowledge to help achieve both professional goal and business goals.
The VU offers significant benefits to all agency employees—from the principal to the receptionist—and it does it all with a few simple clicks of a mouse. Staffers don’t even have to leave the office to earn those last-minute CE credits or take professional development courses. They can sit at their desks and log onto VU to access comprehensive informational sections on sales, sales management, marketing and customer service in the university’s library. Plus there are nearly 100 CE-approved courses, the Accredited Customer Service Representative designation program, as well as a complete online curriculum of sales, customer service and agency management courses that can be studied from desks or home, 24 hours a day and year-round.
One of the most popular VU features is the “Ask the Expert” service, which features 51 of the insurance industry’s top minds answering questions submitted by agents and brokers. These experts respond to questions about insurance, business or technology-related issues, with topics ranging from agency management to sales to customer service to claims to the Internet. Questions typically are answered within 48 hours, depending on difficulty and activity volume. Using this service could save an agency countless hours and help avoid E&O hazards. One agent who recently used this free member service sent this comment after receiving the response.
“The carrier determined that their denial letter was not based on the proper exclusions and that while they thought the policy did not intend to cover such claims that it was indeed ambiguous and, therefore, they would pay it. Thanks to your experts we were able to get enough ammo to shoot holes in the carrier’s position and assist our insured. Please pass along our sincere thanks to your experts and thanks for the great job you do with the VU.”
Staffers can also subscribe to The VUpoint, a biweekly e-newsletter. Each issue provides timely and insightful articles on personal lines, commercial lines, agency management, sales and marketing, customer service, technology and Internet issues that will keep agency professionals current on industry trends and developments.
There are only a few shopping days left, so don’t wait too long. Give each employee their own login information to this free member benefit today. Simply visit www.independentagent.com and click “member login” to get started. For more information, contact Madelyn Flannagan at madelyn.flannagan@iiaba.net.
BEST PRACTICES
Help for End-of-Year Worries
As 2006 comes to and end, it seems that the insurance industry business is not “business as usual” anymore. Increased competition from direct writers changing agreements with carriers; recruiting, hiring and retaining producers; and technology and workflow issues are just some of the challenges independent agents face today. The goal of IIABA’s Best Practices series is to help an agency be the best it can be to overcome and combat these challenges so an agency can continue to grow and prosper long into the future.
The Best Practices tools are designed to help by providing the information, resources and guidance needed to work smarter, efficiently and more professionally so agents can enhance performance, maximize results and increase the value of their agency.
Take a look at the multiple tools in the Best Practices portfolio:
• The Annual Best Practices Study: This study is the heart of the program and details the inner workings of today’s most successful agencies, providing benchmarks that measure an agency’s performance and offering guidelines on how to use the study as a tool to improve operations and maximize potential.
• Best Practices of Crisis Management: No one expects the worst to happen to their agency, but with this tool agents can be prepared and ready to take action. It includes a manual and an interactive CD to develop a personal plan and is of value to both an agency and its clients.
• Joint Agency/Company Planning Tool Quick Step: Developed jointly by agents and companies, this Microsoft® Excel document is designed to help build collaborative planning relationships with companies to further mutual success.
• Customer Service Made Simple: Learn how to raise the value of a business by raising the level of service provided to customers. This results-oriented idea book contains information-packed pages filled with practical suggestions and useful tips.
• Five Practices of Highly Effective Leaders: Skip the trial-and-error approach and get four-star results from five proven practices for overcoming new and difficult challenges. This handbook allows agents to profit from the experience of 18 leaders who successfully guided their agencies through periods of change and uncertainty.
• Best Practices of Business Perpetuation & Management Succession: Obtain an analysis of privately held businesses, both inside and outside of the insurance industry, and their experiences with ownership transfers. The study provides practical information and planning tools to independent agents who are currently or will soon be addressing the issue of business perpetuation, whether internally or through a merger or acquisition with a third party.
• Top Producers: Discover, Train, Reward: Find out how to recruit, interview, train, compensate and retain top producers. The study contains more than 125 information-filled pages and a section on sample producer contracts.
• Best Practices of Leading Sales Organizations in the United States: This guide provides an examination of the skills, approaches and management of the leading sales organizations in the country. It offers practical ways to improve the agency's sales environment and takes a look inside and outside of the insurance industry.
Join the growing list of agents who are implementing Best Practices to effect improvements in performance, value and prepare for the future to ensure long-term success. For more information, or to obtain on order form, visit www.independentagent.com and click Best Practices.
IIABA NEWS
Media Update: Big “I” in the Spotlight
This year was another banner one for the Big “I” in terms of media impressions. The communications department worked long and hard to make sure that Big “I” staff and agents were on the front lines as the voice of independent agents.
In the consumer press, the Big “I” made more than 70 million impressions in more than 300 newspapers nationwide. The consumer press turned to the Big “I” for answers. This is important because the more clients and potential clients see independent agents as the experts, the more they will value members’ opinions and seek advice. In December alone, the Big “I” was quoted in Business Week, Boston Globe, Miami Herald, Washington Post and in articles by the Associated Press, Bloomberg News and Reuters that were picked up all over the country.
In the trade press, the Big “I” was featured in more than 500 different stories over the course of the year. Being viewed as an industry expert on a wide variety of issues is important to the Big “I” and can be viewed as a membership perk. Big “I” national staff and agents and brokers around the country are out there, every day, talking to reporters and advocating on behalf of the independent agency system.
YOUNG AGENTS
Call for 2007 YAC Award Submissions
The Big “I” National Young Agents Committee is seeking submissions for the 2007 YAC awards in the following categories: membership development, state committee project, communications, Young Agents meeting and political involvement. Outstanding Young Agents Committee of the Year and first runner-up honors also will be awarded. Participating in the National YAC awards program demonstrates the commitment state young agents and brokers committees have towards perpetuating the independent agency system and solidifies their presence as the driving force behind its future. The 2007 YAC awards will be presented at the 2007 Young Agent Leadership Institute being held in conjunction with the National Board of State Directors meeting, scheduled for Sept. 28-30 at the Manchester Grand Hyatt in San Diego, Calif.
Entries must be postmarked by July 1, 2007. Visit www.independentagent.com and click “Young Agents” and then “tools” to download the 2007 YAC Awards criteria. For more information, contact Katie Cosgrove at 800-221-791; katie.cosgrove@iiaba.net.
InVEST
Silent Auction Items Online
Participate in the InVEST silent auction and support the program’s annual scholarships awarded to graduates of InVEST 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. The InVEST Silent Auction will open on April 26 at 6 p.m. and will close on April 27 at 1 p.m. Keep an eye on bids--- the InVEST Silent Auction is a popular event.
Play an important roll in the future of InVEST’s brightest students by making a donation to the auction. 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.
|
|
