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... , underwriting, rules New markets or opportunities New business issues (new sales in process) Upcoming new accounts (type, size, work required) Marketing issues affecting new business activity Renewals to be handled (90 to 120 days in the future) Potential account problems (market, competition pricing) Strategy by account (who will handle and how to be handled) Personnel issues Scheduling (vacations, education, leaves, and so on) Personnel awards/recognition General Agency Meeting Agenda-All Employees (scheduled quarterly or semiannually) &# 160 Current status of agency's performance vs. objectives New business sales Renewals, premium, and retention Business and market conditions affecting the agency General insurance and economic conditions New opportunities or changes in programs and markets New or changed agency marketing strategies Agency procedures Changes or additions to ... x No Thanks Loading.. Agency Team Building 4/30/2013 by CompleteMarkets Editor , Eric Moberg This content has not been rated yet. AGENCY TEAM BUILDING by Eric Moberg &# 160 The internal workings of every agency depend on the employees interacting effectively on a daily basis. Cooperation and communication among employees is necessary for them to do their jobs and for the agency to prosper. None of them can work in a vacuum. The exchange of information regarding changes in the marketplace, new policy provisions, and new underwriting guidelines-not to mention the communication of agency procedures, successes, and failures-is essential for people to perform their jobs. As we gain information, it's very important to communicate it to our co-workers. INTERNAL COMMUNICATION The exchange of information within the agency occurs in numerous ways. ...

... such as, "Would you make a change if it were in your best interest to do so? Would you revise, adjust, or modify what you're doing now to help you get what you want? Would you act if the right opportunity came along? If it would be beneficial to you to [reach your goals, increase your income, buy the second car, finance your children's education], would you make a change right now? Are you committed enough to take action or do something about it?" If you feel these are too direct for your taste, tone them down as you see fit. Direct questioning should not be intrusive or sound like an interrogation-but if you don't get these questions answered, it will be like shooting at a moving target miles away with ... over, we may lose sight of the real reasons we do our work. In some measure, you work to serve others. To achieve this, it may be the right thing for you to recommend an alternative that you can't supply. Would it surprise you that in some industries, 11% to 21% of all new business is referred by the "competition"? Sounds more like cooperation to me. And that's the essential ingredient in every mutually beneficial, win-win business and personal relationship. Trust and respect must be earned by each side. If buyer and seller believe in one another enough to be associates (not adversaries) and cooperative (not confrontational), then each will obtain the highest and best result. This leads to a true partnership. On the other hand, ...

... 3 : Both sides must control their respective advisors. The technicalities of the sale of any closely-held agency can be highly complex. Both sides will probably need their own attorney and CPA involved in the process. Preferably, use advisors who are explicitly familiar with insurance agency sales. Insurance agencies have many differences from the typical closely held business; which means you'll be better off if you don't have to educate your advisors on the unique aspects of agency transitions. The principals on both sides need to insist that their advisors respect rules #1 and #2 above. Your advisors know more about the financial and legal technicalities than you do, or you wouldn't need them. However, they do not know as much about agencies as you do, and they won't be the ones living with the results ... are such that the "loser" decides not to withdraw from the negotiations altogether, there will almost certainly be multiple ways the "loser" can try to even the score. Once this kind of thing starts, everyone loses, including the side that thought they "won" . Rule #2 : The sale must "work" for both sides. &# 160The buyer and seller should cooperate to improve the overall tax effects of the transaction for both sides. Tax savings can sometimes be dramatic, and this can help bring a buyer and seller who are unable to agree on "price" back together. After all, the only part that counts is what you get to keep after giving the IRS its share. The seller should cooperate to structure the sale in ways that will ...

... This grouping of insureds helps spread the risk over a larger premium base. All safety group policies have a common anniversary date. Approximately nine months after the anniversary date, the numbers are analyzed and a retention applied. The money left over, if any, is returned to the participants in the form of a dividend. &# 160 It is at dividend time that the association receives a continuing education about how insurance companies account for their money. What was once a well-kept secret on retention build-up is now familiar to many association insurance committees, either through a self-learning process or because they have hired consultant actuaries of their own to review retention in detail. They have become quite expert in such things as tax and board, ' direct commissions, ' other acquisition costs, ' loss reserves, ... be implemented on a cost-effective basis. Consistent messages in association publications, communications from the insurance committee, inclusions in operational or procedural manuals and bulletins, and workshops at state, regional or national meetings all work to reinforce the importance of the loss control program. &# 160 Association leadership today recognizes what impact losses, even insured losses, have on their members' bottom line. They're willing to cooperate (some even insist) on the implementation of loss control programs customized to the known experience of their industry. For marketing to be successful it is important to remember that: &# 160 Associations are becoming sophisticated and member-responsive in undertaking insurance programs on behalf of their member firms. &# 160 Successful insurance programs must be designed to be responsive to the specific needs of the industry involved. ...

... note: Attesting to Greenberg's comment, our company has very successfully used the members of the local high school band to perform mailing services. The students donate their time, and we donate their earnings' to the Band Booster Fund. Summing It All Up A newsletter is not a great treatise or novel, but it serves an extremely useful purpose for insurance agents. Customers are demanding more and more education about their insurance purchases because insurance has a tremendous impact on the quality of their lives-health care, automobiles, homes, and their ability to cope with disasters and deaths. Insurance consumers, commercial and personal alike, rely on their agent for guidance and security. They need and benefit from your product. A newsletter program establishes a one-to-one connection between customers and you, which results in more calls ... an ongoing, non-threatening method of informing clients about changes in state and federal regulations, policies and coverages, and areas of exposure. Clients eventually come to expect such information. Although some might argue that a business letter can accomplish the same, business letters don't carry the visual impact of a newsletter. Providers of E&O coverage are currently looking at assisting agencies with newsletter expense, either through cooperative funding or rate reduction. Already many carriers will share the costs of a newsletter program if it features their product lines. This approach is more targeted and less costly than regular print advertising and direct response. Business reply cards can be included. The Fifth Benefit-Dividends When you give clients and prospects information that protects their lives and property, they will remember you. Alerting them to the danger of ...

...Review the consultant’s resume, educational credentials and work experience;...

... As the expression goes, You have to kiss a lot of frogs before you find your prince. As the economy continues to expand in new directions, more jobs are being created - without qualified people to fill them. The competition for high-performance employees is intensifying. U.S. school systems are not producing the quality of work-prepared graduates needed in the industry. Employers are forced to invest valuable time and money educating and training employees to perform to required standards. Insurance agencies seek new employees under two conditions: expansion or replacement of someone who left. These are a few recommended strategies for finding and keeping top people in your agency: If you plan to expand, begin the recruiting process early. Identify potential candidates within the community - people who work somewhere else, people who left the work force temporarily ... sales), too. Focus attention on the good people who are already valued members of your team. The emphasis today should be on keeping the good people you have. Reduce uncontrolled employee turnover, and you reduce the need to find replacements on the open market. Pay attention to the work environment. Do you provide comfortable surroundings? Are office colors conducive to high performance? Support positive, cooperative relationships among team members. Help everyone work together by encouraging communication about how to make things easier for each other. Your agency should be a fun place to be. Give people what they need to get their jobs done. If that old copy machine keeps breaking down, people become frustrated, irritated, and more receptive to outside job offers. Little things mean a lot. Help your ...

... strategically position ourselves for the future? Unfortunately, for many within our industry, the honest answer to several of these questions is "no." For them, the future is bleak. Fortunately, many agencies and carriers are aware of the changes, see this as a time of tremendous opportunity, and are actively doing something about it. We hope that this study will educate, stimulate, and motivate our industry to action. For some, it's a wake-up call. For others, it'll provide direction and ideas on what to do. For still others, it'll confirm what they already know and provide some additional perspectives that may allow them to further develop and make positive future efforts. STEPS TO SUCCESS The following steps will help to ensure the future of the independent ... by the Internet, although only for selective product lines, e.g., low-margin commodity products that consumers are willing to purchase without an agent's advice. At the same time, there will be fee-based reintermediation (in which intermediaries are introduced into new relationships or their roles and responsibilities are expanded) . And insurance agents will emerge as infomediaries. Finally, both insurance companies and independent agents will learn to cooperate and collaborate with each other to serve end users more effectively and efficiently. At the same time, it's likely that some insurance companies will acquire or invest in their distribution partners in the same way pharmaceutical companies dealt with their distributors (Merck buying Medco and Baxter acquiring Hospital Supply Corp.) . Not all the observations, conclusions, and recommendations found in this report will be applicable to all ...

... main reason why planning is so important. We must plan for the effects of competition, changing market conditions, economic shifts, and more importantly, for the continuation of our agencies, whether by perpetuation, sale, or a merger/cluster. Finally, we must have a plan for profit because of the ever-increasing cost of automation and such everyday overhead expenses as group health, training, and education. In reality, the reasons to plan are as endless as the individual needs of each agency. WHO PLANS? No, you don't have to do all the planning yourself. Encourage your entire staff to provide all of the input they want. As long as the plan remains "your plan," they'll help you with it as much or as little as they believe it affects each ... them personally. If, on the other hand, they see the plan as "my plan," you can expect a much higher level of cooperation and concern. We like to involve everyone on down to the part-time file clerk. It's surprising how many good ideas come from the people who actually do the jobs. However, be prepared to have the air let out of your tires! If your people give you honest feedback, they'll develop ideas that will surprise you. That's okay. The important thing is to get them started on the road to planning. The sign of a truly professional owner/manager is the ability to listen, refine, and implement. The final planning step is to pull your key people together and put in writing all the input that they've developed. ...

... you want to try this new route or not. A special note to agency owners: This program was put together by a coalition of individual dealers; it wasn't a brainstorm from Chevrolet Motor Division's Marketing Department. So don't wait for the company to act! Jack Burke is the president of Sound Marketing, Inc., which specializes in audio and video productions for corporate marketing, communications, and education. He may be reached (800) 451-TAPE. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with ... consumers get a rate comparison from their local agent. Driver's license renewals are often based on birth date-could anything be more appropriate than advertising for Life, Health, and Retirement insurance? Similarly, Homeowner and Mortgage insurance advertising are ideal for enclosure with annual property tax statements. With today's turbulence in real estate, any number of value-added benefits could be used to entice replies from prospects. Companies could develop cooperative programs with participating agencies in individual states to develop and pay for such programs. Both would reap untold benefits in public relations. Depending on logistics, addressees could be encouraged to respond directly to the local agency, as with the Montana Chevrolet Dealers. As an alternative, the company could collect the leads and direct them to the proper agency for follow-up. Either way, individual agencies, regardless ...