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...issions per person (including the senior person and part-time back-up). And th...ers are trying to handle the service center approach with the agents' and insu...

... from their own kind of tax cut. So if some of your shareholders are being forced to pay high taxes to support their underperforming partners, declare a tax cut by implementing a value creation quota-and let the fireworks begin! Kevin M. Stipe, CPCU, is senior vice president and principal of Reagan Associates, an independent Atlanta-based management consulting firm working with financial institutions and insurance agents, brokers and companies. You can reach him at Reagan Associates, 7 Piedmont Center, Ste. 417, Atlanta, GA 30305, (404 ... his or her equity position in the agency by selling stock to employees who are consistently exceeding their value creation quota. Assuming that the shareholder will choose to increase efforts (selling off stock generally isn't considered an attractive option), how can he or she know which activities to focus on? In our valuation and consulting work over the years, we've observed a Value Creation Hierarchy. Some activities are more potent value creators than others. Here's a list of value-building activities, listed in descending order in terms of greatest to lowest impact ... let the fireworks begin! Kevin M. Stipe, CPCU, is senior vice president and principal of Reagan Associates, an independent Atlanta-based management consulting firm working with financial institutions and insurance agents, brokers and companies. You can reach him at Reagan Associates, 7 Piedmont Center, Ste. 417, Atlanta, GA 30305, (404) 233-5545, fax (404) 237-5996, or Web site www.reaganconsulting.com . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? ...

... from their own kind of tax cut. So if some of your shareholders are being forced to pay high taxes to support their underperforming partners, declare a tax cut by implementing a value creation quota-and let the fireworks begin! Kevin M. Stipe, CPCU, is senior vice president and principal of Reagan Associates, an independent Atlanta-based management consulting firm working with financial institutions and insurance agents, brokers and companies. You can reach him at Reagan Associates, 7 Piedmont Center, Ste. 417, Atlanta, GA 30305, (404 ... his or her equity position in the agency by selling stock to employees who are consistently exceeding their value creation quota. Assuming that the shareholder will choose to increase efforts (selling off stock generally isn't considered an attractive option), how can he or she know which activities to focus on? In our valuation and consulting work over the years, we've observed a Value Creation Hierarchy. Some activities are more potent value creators than others. Here's a list of value-building activities, listed in descending order in terms of greatest to lowest impact ... let the fireworks begin! Kevin M. Stipe, CPCU, is senior vice president and principal of Reagan Associates, an independent Atlanta-based management consulting firm working with financial institutions and insurance agents, brokers and companies. You can reach him at Reagan Associates, 7 Piedmont Center, Ste. 417, Atlanta, GA 30305, (404) 233-5545, fax (404) 237-5996, or Web site www.reaganconsulting.com . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? ...

... The sellers should have a great deal of the responsibility for a successful integration, and variable pricing helps ensure their commitment to this process. The most successful bank/agency relationships take full advantage of the agency's sales culture, and insurance activities are supported by the bank's senior management. The sales culture of a good insurance agency can be a welcome addition to banks as they attempt to orient themselves to more new business. The development of incentive compensation for bank employees for insurance referrals and a strong emphasis on insurance products from the bank's ... in integrating the bank-insurance cultures. The sellers should have a great deal of the responsibility for a successful integration, and variable pricing helps ensure their commitment to this process. The most successful bank/agency relationships take full advantage of the agency's sales culture, and insurance activities are supported by the bank's senior management. The sales culture of a good insurance agency can be a welcome addition to banks as they attempt to orient themselves to more new business. The development of incentive compensation for bank employees for insurance referrals and a strong emphasis ... the appropriate expectations and a comprehensive game plan is essential for success. This article is reproduced by permission from the Property/Casualty edition of The National Underwriter. Robert C. Smith is senior vice president and a principal of Reagan Consulting, Inc., 7 Piedmont Center, Suite 417, Atlanta, GA 30305. He can be reached at (404) 233-5545 or by E-mail at [email protected] . Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join ...

... Agency? Regardless of its size, today's insurance agency needs an effective financial manager-a role much broader than that of a bookkeeper or accountant. In large agencies, this role is performed by the Chief Financial Officer (CFO), who is usually a member of the senior management team, involved in virtually every strategic decision made in the agency, and ideally has the skills needed to respond to the new challenges. In small and mid-size agencies, this role is likely to be filled by an accountant or bookkeeper, with the senior ... taking a more active role in addressing many of the issues that a CFO would in a larger shop. What role does your financial manager play in the management of your agency? How would you answer the following questions: Are you getting the highest possible return from your investment in producers and staff? Do you clearly know which departments or products are profitable (and which aren't)? Is your budget truly an effective management tool? Are you maximizing your agency's investment income? Is your accounting and finance function properly staffed and effectively ... amount and speed of change occurring and the significant pressure on profit margins, the financial manager is having to do much more than ever in the past. In the past, financial managers tracked the agency's overall performance. Today, operating performance is needed on every profit center, department, book of business, and producer. Decisions are made every day on marketing strategies, producer compensation, staffing, and so on. Consequently, detailed and accurate information is required on every aspect of the operation. With the pressure on profit margins ...

...ities are supported by the bank's senior management. The sales culture of a go...nal Underwriter. Robert C. Smith is senior vice president and a principal of Reagan Consulting, Inc., 7 Piedmont Center, Suite 417, Atlanta, GA 30305. He ...

...s, Cunningham says. Jack Kwicien, senior vice president, personal insurance ma..., to build morale among the troops. Activity levels for producers and CSRs sho...

...hat counts today. Charlotte Otto, senior vice president for public affairs at ...

...stribution channels, such as call centers and the Internet. Today's telecommun...

...lysis session involving concerned senior management. For example, in determini...subsidence. Earthquake and volcanic activity may be identified to a limited ex...