Insurance

Agency Network. Aggregator. Cluster. The words are used interchangeably in the insurance industry, but are they really the same thing? If you are an independent agent looking for market access and agency growth, is it worth joining some type of an alliance, and how do you know which one is right for you?

Many people fail to understand accountability, its importance, and where it begins. Whether you are a new business owner or an experienced leader, it starts with YOU! Good leaders know how to foster a culture of accountability and execution. They make commitments and they keep them.

Which is better – getting an appointment or calling back in X months?

After a year full of uncertainty, making predictions about 2021 may seem futile. While the future is never certain, there are a few personal lines market trends for you to watch in 2021. Some are the direct result of the events of 2020, while others have been in the works for several years. All of them are things to keep your eye on at your agency as you plan for 2021.

Despite all the turmoil of 2020, Smart Start Personal Lines boasted a banner year, breaking production records and writing over $1 million in premium for 7 months straight.

Smart Choice®, signed 84 new agency partners in November, marking a continued trend of over 80 new agencies a month, and continuing the company’s long streak of record setting growth.

Traditional ways of marketing and selling won’t work in the near-term, and maybe even in the long-term as some new behaviors are likely to stick beyond the pandemic. Digital and virtual tools can help agents succeed in this environment.

CEO Newsletter: In a time when people may be suffering from economic impacts, as well as information overload from news and other sources, it can be difficult to know what’s even appropriate for promoting your business and staying front and center.

From the Front Line: Now more than ever agents must resist the temptation to slash marketing budgets. It seems counterintuitive, but when times are hard, that is when you actually should invest more into marketing. This doesn’t mean you have to spend more money (although you should consider increasing your budget if possible). There are many marketing avenues that don’t cost a thing!

IntelliDrive, the telematics-based auto insurance app from Travelers, is now even better at helping customers understand their driving habits and rewarding them for safe driving. The app collects and assesses data on behaviors such as hard braking, rapid acceleration, speed, the time of day customers drive and now, distracted driving. 

​What if technology could help drivers and fleet managers see beyond just the road ahead? A new suite of smart devices is doing just that by helping drivers stay safe and allowing fleet managers access to real-time analytics. The result is fewer accidents and improved efficiency for commercial auto policyholders. That may translate to savings by improving loss ratios and potentially lowering premiums.​

hese are interesting times when determining the value of an insurance agency. The insurance industry has the potential to fare better than others during an economic downturn because insurance is not a discretionary spend in most cases. The compulsory nature of many lines of insurance is a significant factor that positively impacts the retention of customers and premium, regardless of the economic condition.