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... Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All strategic alliances Articles tagged with strategic alliances Back A Relationship Audit This content has not been rated yet. CompleteMarkets Editor , Michael Manes 4/30/2013 10:42:27 PM A RELATIONSHIP AUDIT by Michael Manes Before the agency marriage, both parties need to answer these questions. The article was thought provoking.. All Articles by CompleteMarkets Editor Comments (0 ) Forming A Strategic Alliance This content has ... been rated yet. CompleteMarkets Editor , Carol Hammes 4/30/2013 10:36:15 PM FORMING A STRATEGIC ALLIANCE by Carol Hammes A major challenge facing the Independent Agency System today is to provide quality products and services in a more cost effective and user-frien.. All Articles by CompleteMarkets Editor Comments (0 ) x No Thanks Loading.. Loading.. x No Thanks Loading.. ...

... challenge of a successful marriage is so great that many young adults delay marriage or avoid it altogether. I've been happily married for 25 years. I consider myself lucky in love, but I'm not an expert. I attribute my success to selecting a wife with the patience of Job and with doing as I'm told. Business today is being reshaped by mergers, acquisitions, joint ventures, and strategic alliances. If business alliances can be compared to marriages, will their success rate be similar? Perhaps a more important question is how we reduce the chances of entering into a bad relationship. Beginning with that premise, I'd like to offer prospective allies the following points to determine if they're in love or just infatuated: Who's the person or organization you're going to marry? ' Who's the leader of ... Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back A Relationship Audit 4/30/2013 10:42:27 PM by CompleteMarkets Editor , Michael Manes This content has not been rated yet. A RELATIONSHIP AUDIT by Michael Manes Before the agency "marriage," both parties need to answer these questions. The article was thought provoking. The question was simple: Why do so many marriages fail? The analysis was thorough: money, sex, families ...

...s, joint ventures, and strategic alliances. If business alliances can be compared to marriages, will ...

... general business vendors if their claims are paid accurately and on time. Get a credit report. Check with the complaint division of your state insurance department for the number and nature of complaints against them, and how each was resolved. If there are a lot of complaints on the carrier for claims that eventually got paid, it indicates cash-flow problems. Talk with the leadership of the local business health-care alliance. Many larger communities have an employers' coalition to address Health insurance issues. The information they provide isn't readily available in public reports. Ask the carrier's management team to address any worrisome information you've uncovered. Finally, cross your fingers. Health insurance is a risky business, especially in this era of fierce competition for market share. Strong, reliable companies with a long history of financial success ... the reserve for claims that are incurred, but not reported. Underwriting methods Pricing philosophy Management programs Medical-loss ratios by product - Have them explain those greater than 90% . Organizational plans Goals for growth - If their goal is significant growth, find out how it will be achieved and financed. You've got cause for concern if their plans include predatory pricing. Claims operation and inventory. Recent external claims audits - Take special note of their accuracy rates. Premium diversification - Is a large amount controlled by a small number of clients? Underbidding a single large contract has doomed some carriers. Reinsurance contracts - Look at insolvency provisions. Lawsuits - Take special note of those with potentially large settlements. Review their audited statements. Liquidity ratios CHECK THEIR REFERENCES Brokers and customers are a good place to start checking ...

...f the local business health-care alliance. Many larger communities have an emp...

...ning the contractual and working alliance. Decisions must be based upon mutua...

...l owners, they sought to form an alliance that would place them in a collectiv...

... more upon the concurrence of strategic business plans. Companies or agencies, however large, can no longer strive to be all things to everyone. Part of finding the appropriate niche is to identify partners who have carved out that same turf. What it all boils down to is that agents and companies must be more selective about their key relationships and more professional in establishing and maintaining the contractual and working alliance. Decisions must be based upon mutual need within the context of the most efficient way to provide necessary insurance products and services to the individuals and businesses that recognize the "value-added" that the Independent Agency System offers. Companies that continue to treat agencies with thinly veiled contempt or try to impose contracts and guidelines will decline unilaterally. The increasingly professional and business-oriented agency principals will see to this! ... pay account balances? This can be a major issue since some companies are lowering the time to 30 days from the traditional 45 days and are requiring payment even though they might not have been able to get the policy correctly issued yet (hard to believe isn't it?) . Do you have to pay their account or can you use your own account current? What is the agency's liability for audit premiums? Do you have at least 45 days (hopefully 60) to turn the responsibility back to the company? If you have been offered a preferred contract, what are you getting that is of value to your agency? There are almost always substantial volume commitments that must be met, sometimes in Life insurance as well as Property/Casualty. Will the preferred underwriting pricing/servicing or ...