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Trade Secrets: What Are They ...
It’s important to identify what can be considered a “trade secret” and why trade secrets are the most valuable assets of an agency - and thus worthy of having their confidentiality protected. The insurance industry speaks in terms of “books of business” or “expirations” or “customer lists.” Federal and state courts have ruled that “expirations” are property and, as a body of information contained in the files of each individual insurance agency’s accounts, these “trade secrets” represent valuable assets. Thus, the trade secrets (i.e. the book of business, customer lists, etc.) embody the agency’s true value. Just how does an insurance agency, or any other service firm, protect the time and resources spent in developing the knowledge of individual accounts that, if revealed, would benefit a competitor? The answer begins with executing a properly drafted employment agreement with each of the agency’s employees and producers. The employment agreement, or producer agreement, should address the issue of confidentiality of information in order to prevent a former employee from misappropriating confidential information and using it in an unauthorized manner to the agency’s detriment. Those agreements must be equitable for both parties and must balance the agency’s desire to protect its trade secrets and confidential information with the departing employee’s wishes to stay in the business of their common calling and to use their innate skills in pursuing their insurance career with another employer. An agency’s employment agreements and producer agreements should also include well-crafted non-competition or non-piracy provisions that meet the test of the jurisdiction(s) in which the agency operates. Although this article does not address the specific requirements and limitations of such restrictive covenants. They’re closely related to the protection of trade secrets and confidential information. What constitutes the confidential or trade secret information that requires protection, and how does it play a part in giving the employer a competitive advantage? Some information about any insurance account is available in the public domain, such as the firm’s Web site, advertisements, and other sources of information. This type of information is generally not confidential information, nor worthy of protection as trade secrets. What are Trade Secrets? A trade secret may consist of any formula, pattern, device, or compilation of information that is used in one’s business and that provides an opportunity to obtain an advantage over competitors who don’t know or use it. A trade secret is a process or device for continuous use in the operation of the business. It might be a formula for a chemical com-pound, a manufacturing process, or a list of customers. When money and time are invested in the development of information and procedures that are not generally known, trade secret protection issues exist. Further, when an effort is made to keep information from competitors, trade secret protection is warranted. Trade secrets are not limited to secret formulas. In fact, “absolute secrecy” is not a prerequisite; only “substantial secrecy” is required. The definition of trade secrets is quite broad, and may include any of the following: Customer or client lists, billing information, customer and client preference information, and contact lists Pricing information and marketing plans Computer programs and data compilations Training and service manuals Vendor information The exact language used to define a “trade secret” varies by state. However, three factors are common to such defini-tions. A trade secret is some type of information that: Is not generally known to the public Confers some sort of economic benefit on its holder Is the subject of reasonable efforts to maintain its secrecy Some of the factors courts consider when determining whether information is a trade secret are: The extent to which the information is known outside the agency The extent to which it’s known by employees and others involved in the agency The extent of measures taken by the agency to guard the secrecy of the information The value of the information to the agency (or its competitors) The amount of effort and/or money expended by the agency in developing the information The ease or difficulty with which the information could be properly acquired or duplicated by others How Do You Protect Your Trade Secrets? An agency must carefully plan and implement an organized program that identifies its trade secrets and then take steps to protect against their misappropriation. Documenting this program, will put the agency in a position to demonstrate to a court of law the measures taken to protect its trade secrets. At a minimum, a trade secrets protection program involves the establishment of internal security procedures, which should include: A written policy of confidentiality included in employee procedures manuals and employment practices guide-lines, emphasizing that all internal communications should be handled in strictest confidence. The agency’s confidentiality standards included in employee training and educational programs. A process where customer lists, client information and other trade secrets are distributed only on a need-to-know basis, and marked “confidential” where possible. Execution of well-drafted Confidentiality/Non-Disclosure agreements with all employees, producers, and independent contractors. Security codes or barriers in the company’s data processing computer systems and other management records that are revised on a regular basis to prevent infiltration. A process for storing confidential information in a secure manner and shredding documents when no longer needed. In our view, the best way to determine confidential information is to examine an insurance account and identify the information that the agency has spent time and money developing, which is not readily available to a competitor, and that gives the agency an advantage. Here’s an offering of questions to help determine what the agency knows about an account that could qualify as “confidential information”, and thus be worthy of trade secret protection: What is the ownership of the insured company, and who among the owners controls the insurance program? Who is in control of the insured company today, and who will control it in the future? What is the financial condition of the insured company Who are the insured’s major clients and/or vendors? Does the insured company require specific coverage modifications to meet the contracts normally executed with its customers? What is the claims history of the insured company? Has the insured company had any lawsuits filed against it, and what is the nature and current status of those lawsuits? What loss control measures has the insured initiated? Does the insured manufacture products, or modify or assemble the products of others? What products or services of the insured cause major exposures? What is the history of the insured’s workers’ compensation and/or general liability experience modifiers? Does the insured carry specialized Products Liability and/or Professional Liability coverage? Does the insured need contingent Business Interruption coverage? Stay Vigilant! Although the confidential information and trade secrets you need to protect might be as simple as customer lists and client information, it’s essential that you take effective steps to protect this information from misappropriation. Consult with an attorney who is well versed in matters of confidentiality, non-disclosure, and employment practices to assist you in devising and implementing an information protection program. Should you encounter a breach, or threatened breach, act expeditiously to retain competent counsel to take immediate action to protect your competitive advantage. A trade secret, once lost, is gone forever.

Tracking Compliments And Complaints
Customer satisfaction is subjective on the part of consumers. It is how they feel about you and the product or service you provide. The difference between satisfaction and dissatisfaction is what the customer expected versus what he or she actually experienced. Tracking these two emotions will identify negative patterns that need repair and positive patterns that need repeating. The complaint log is the perfect tool for documenting customers' dissatisfaction levels. Focusing on customer complaints serves to pinpoint weaknesses within an organization. Equally important is keeping a log of all customer compliments so you can see what you're doing right. Evidence shows that people work best when they feel good about themselves and what they do. If all you hear all day is what's wrong, and never what's right, it will be considerably harder for you to do a good job. Hearing positive feedback, as provided by a compliment log, offers the following benefits to CSRs: Enhanced self-esteem Confidence in decision-making ability Improved job satisfaction Evidence of level of performance Self-motivation to serve The compliment log should be set up to record positive reactions from customers. (A sample compliment log appears at right.) The compliments will show areas in which you're hitting the mark. Additionally, the log presents management with the opportunity to recognize and praise individuals and teams for outstanding customer service. Benefits to management (in case you need to sell them on the idea) include: Promotion of strong team spirit Creation of a performance-appraisal tool Reinforcement of positive behavior If posted every week and recognized in staff meetings, the compliment log can become a job perk, in addition to being an effective satisfaction measurement device. Get the Main Ideas Track satisfaction and dissatisfaction to identify habits that need repeating or repairing Use a complaint log to document customer dissatisfaction Create a compliment log to discover what is being done well Use the compliment log as a vehicle for positive feedback, as well as a satisfaction measurement device

Put Your Marketing To The Test And See How You’Re Doing
PUT YOUR MARKETING TO THE TEST AND SEE HOW YOU’RE DOING by John Graham All marketers are liars. Because we’re all marketers of one thing or another, we’re all liars. To give proper credit, Seth Godin, the provocative business pundit, started it with his book, All Marketers are Liars. As the syllogism makes perfectly clear, he was 100% on the mark. This isn’t an indictment of P&G, BofA, Chrysler, Goldman Sachs, McDonalds, or any other organization, big or small. There are probably more liars on LinkedIn, Facebook, and any of the other social media, where tens of millions of self-marketers have a feast day making claims that wouldn’t stand up before a sixth grade class. As a recent USA Today noted, some 70% of self-marketers admit to doing some “fabricating” with their countless unsupportable claims, as they do their best to “sell” their product. This, of course, doesn’t take into account the desperately doctored job applications, resumes and college applications, but it does include at least a few U.S Presidents and a rather long list of Members of Congress. Even though Godin was on to something significant, he changed the title (but not another word) of the latest edition of his book. It’s now, All Marketers Tell Stories. We’re all marketers and we tell some whoppers that make us feel better about ourselves, give us an advantage, or enhance our image. At the same time, the Internet gives us opportunities ad nauseam to “tell stories.” However, this is neither a defect nor the downfall of truth telling. Happily, millions of people are constantly setting the records straight, which is why Wikipedia and tens of thousands of reviews work so well. Fraud detectors are always at work! The only ones who are deceived by making unsupported claims are those who make them. Today, the Marlboro man would be sent packing and Virginia Slims have lost their femininity. All of which is to say that no one marketing a product or service should deceive themselves into believing that what they’re doing is the exception to the rule. Marketing today must past the truth test. In fact, much of what we market is better, often far better. For some reason, many marketers think success depends on lying. A good example is the fast food industry, which seemed to think that consumers would ignore 1,200-calorie burgers forever. So, here’s a four-question marketing test that provides a simple way to see if your marketing passes muster. 1. Why would customers want to buy what you’re selling? This is a serious question, although many marketers might consider it totally irrelevant. Does what you’re marketing solve perceived problems for customers or trumped up ones? Can they count on it to deliver on your promises? “How does it help me?” is a significant question. Take the issue of national brands vs. store brands at the supermarket and other places. In the past, consumers opted for the “leading national brands,” until the recession hit. Suddenly, store brands were getting far more shelf space, as consumers gave serious attention to the cost question. 2. Are you telling the truth? It might seem strange to align marketing with truth, because they appear to be such strange bedfellows. As easy as it is to be cynical, consider this. On the day that Steve Jobs announced the Apple iPad, before more than a handful of people had one in their hands, he boldly stated that it was “a truly magical and revolutionary product.” He then went on to say, “What this device does is extraordinary. It’s the best browsing experience you’ve ever had. It’s unbelievably great ... way better than a laptop. Way better than a Smartphone”. Wow! So many over-the-top claims in so few words! However, they were not hyperbole in the case of Steve Jobs and the iPad. Anyone else who tried it would have failed. Jobs wasn’t laughed off the stage for one reason: he had a proven track record of delivering on his promises and telling the truth. Instead of boos, he garnered applause The truth works. Unfortunately, most marketers haven’t learned this lesson. 3. Is your marketing message compelling enough to move prospects to action? To put it another way, robust offers work, while wimpish ones don’t. A case study in the marketing publication BtoB, describes an AT&T campaign directed to a group of 75 top executives of leading hotels. Based on the J.D. Power and Associates finding that WiFi is the most valued amenity travelers want to know about before they check in. AT&T wanted to make sure the executives knew about the availability of WiFi. Ironically, AT&T decided on a direct mail campaign, designed to get meetings with AT&T sales reps. Recognizing that high level executives are well insulated from invasive attempts, they took a “you’ve got to see this” approach. The first mailing was an attention-getting package with an actual Wi-Fi locator device inside, and this message: “Locating Wi-Fi at [name of hotel chain].” Sales reps made follow-up calls to verify that the package had arrived and to ask for a meeting. The second mailing went to those who didn’t respond to the first. This was “a custom dimensional piece consisting of a cardboard mockup of a Notebook-like computer,” reported BtoB. Rather than a screen, it sported a video-in-print technology that played a two-minute video personalized for each hotel chain. Next-day delivery upped the ante even more by requiring the signature of the recipient. Again, the sales team followed up, using several ways to contact the prospects. It was a powerful combined effort between marketing and sales. Those who made a commitment to meet with the sales reps received a special thank- you, a real Notebook computer. Rather than the traditional 2% response rate for direct mail, AT&T reached 9%, based on face-to-face sales meetings. 4. How do our products or services stand up to those of the competition? The objective of marketing is not to outdo the competition, even though that’s quite common; rather, the goal is to out-think competitors. The tendency is to pile on the bells and whistles, even though, as we all know, no one has a clue how to use them and wouldn’t use them even if they knew how. How many people have mastered the common cable TV clicker? How many can use 10% of the capability of a basic digital camera? They call them “smart phones” because they’re clearly smarter than their/ users. Whether less is more is debatable; however, many times “less best” meets the customer’s needs. After using a particular computer program for analyzing Workers Compensation data, Kevin Ring, the Lead Workers’ Comp Analyst at the Institute of WorkComp Professionals (Asheville, NC), wondered why so many of the Institute’s advisors weren’t using the software. For what they needed, it was too powerful and seemed somewhat daunting. Ring then developed a new program, designed to give salespeople exactly what they wanted that’s easy to use, quicker and costs less. This offers a perfect example of how out- thinking the competition is a powerful marketing strategy. Conclusion Test your marketing with these four questions. If it passes, congratulations. However, if your marketing leaves something to be desired, now’s a good time to get to work. In the end, we’re all marketers and, thus, all liars. At the same time, some of our stories have a clear ring of truth.

... For auto insurance, telematics devices measure actual driving patterns. Is ...