As Director of Client Services, I work with and for
our independent insurance agency clients to provide the top agency management
system tools and training. Our team has worked with agencies across the
country, collaborating with teams of all sizes and experience levels to help
them achieve their desired outcomes of productivity, effectiveness and
profitability.
We wrapped up another round of engaging Partner Regional Learnings with visits to Massachusetts and Connecticut. The groups of 20-30 each had a great time learning how to maximize the insurance management system Partner Platform and provided great insights into future upgrades and enhancements.
At each Learning, we always see a nice blend of new and tenured clients. This mixture of skill and experience levels leads to stimulating collaboration, with each Partner agency learning helpful tips and tricks for system use.
Partner Regional Learnings are never “another boring software event.” Each training focuses on using the Partner Platform the best way possible and engaging superusers in feedback sessions for enhancements. Ideas vary by state, specifically around state-specific insurance regulations, but are always thoughtful and innovative. Engaging with such a vibrant, creative community is invigorating!
One of the best parts of the Regional Learnings are the questions. Commonly asked questions tend to focus on efficiency. Our Partner agents want to make sure they’re using the Partner Platform the best way possible. We focus on every little click and keystroke, highlighting ways to do more with fewer actions. These shortcuts make a huge difference in areas like document management and certificates. No matter how long someone has used the system, they’ll always learn something new.
We’re grateful our Partner community engages in this way. Agencies who embrace coming to regional events like these, attending webinars and joining us at national industry conferences have a significant impact on the direction of SIS, Partner Platform, and our industry partners. Engagement in the Partner community means shaping our goals and growth, which in turn impacts the growth of our Partner agencies.
It’s been said, “when you know, you know.” This is true for all major moments in life: getting married, having kids, buying a house, and even when you’ll retire. But, when it comes to insurance agency perpetuation, you need to think ahead for that “the time is now” moment.
There is more to building and maintaining insurance customer relationships than meets the eye. While there is no substitute for personally connecting, the way your agency communicates with and about customers can be a big factor in gaining and keeping business. These steps can help get you in the right direction.
Earlier in the year, I wrote a post on some of the top insurance agency reporting methods underutilized by agencies. With so many to share, we’re on to part two. In this post, I’ll outline three reporting tools that will bring you to data wizard status. Start putting these into practice, and you’ll find you can process information faster, easier, and more accurately to help your agency grow.
Your insurance agency marketing goal is to stand out among the noise. Identifying and investing in serving a niche market is one of the most efficient and effective ways to achieve this challenging goal.
When you serve a niche market, you have less competition, making it easier to gain new customers in a specific arena. Your agency is set apart as providing “X” type of insurance, making you distinctive. PIA National’s 2022 Independent Agent Survey found that respondents devoted more than 20% of their book of business to a niche market. You, too, can capitalize on this valuable strategy.
Over the past few years, there has been a surge in insurance agency management transitions. Mergers and acquisitions specifically are on the rise, with an estimated 550 deals, up 12% from the previous year, in the first quarter of 2021. While these transitions can be profitable for owners, they can come with significant trepidation and worry from employees and customers.
As an owner, you need to start thinking ahead about how to prepare your agency for its eventual ownership transition. Whether you plan to perpetuate internally or externally, it’s essential that you prepare. That preparation includes setting your agency up for its highest valuation, prepping your team, and investing in tools and processes to bring your agency into the future.
Good partners and partnerships are critical to success in any business, but it’s crucial in technology where the pace of change and breadth of innovation is high. Insurance tech is growing fast, and it’s critical to look to progressive partners to keep up with the pace.
Why Partnerships Matter
Innovations happen everywhere, every day. Things like electric cars, an increase in IoT, the interconnectedness of tech systems in healthcare and our own homes, and other innovations significantly impact our industry. These tech advances inform how insurers can gain data to inform policies and process claims.
