The insurance industry is at a crossroads. A significant portion of the workforce is nearing retirement (of almost one million licensed agents and brokers, the average age is 45.9 years old, according to Agent Methods). Although the Big “I” and other insurance organizations reach out to the younger generation, many show little interest in joining the field. In short, the insurance brain drain I…
We are all busy, I get it. However, with coverage and court decisions changing at lightning speed, we all need to stay up with current court decisions and coverage issues. For your reading pleasure, in this article we recommend several important insurance newsletters penned by various authors.
Seen on an insurance discussion board: “I use XXXXX.com. About $35 for 21 hours credit. Takes a few hours (maybe two) to finish and is open book.” What do you think about online CE programs where people literally spend minutes to get HOURS of CE credit? Is continuing education in our industry actually being regulated?
Search the internet for “how to reduce your car insurance cost” and you should get about 58 million hits. Hundreds, if not thousands, of articles have been written about how to save money on car insurance. Unfortunately, almost all of them are full of bad advice, one example being dropping your physical damage coverage. This…
You got your start as a personal lines producer and you’re ready to make a move to commercial lines production. How do you get started? How do you “write” a commercial lines account? Where do you get the coverage and sales training necessary to be successful? In this article, the VU faculty make some recommendations…
This article is a wake-up call from consultant Chris Burand: “The independent agency system constantly emphasizes how important agents are to clients in choosing the right coverage. While agents can definitely offer crucial and important education to consumers, in both personal lines and commercial clients, they too often choose to not offer any education, any…
If your staff is confused about the difference between goal setting and action planning read this clarifying article. The process should create synergy among all employees as well as achievable goals for the agency.
This article is about leadership. When it comes to policy limits, forms and coverage, being a leader pays off for you and the client! Are you leading your clients so they understand that not all insurance is equal?
You hire a new or inexperienced producer. Is there any guideline as to how much time should be provided before he or she reaches a level of production to cover salary and benefits?
A recent McKinsey report concludes that personal lines insurance, by and large, has become a commodity. It also questions the viability and value of the agent. This article excerpts one post from a LinkedIn discussion about this report and provides three vivid real-life examples of why personal auto insurance is NOT a commodity.
