Insurance Journal TV » Agency Management

At-Home Insurance Careers for Disabled Veterans

bpedroso — Wed, 18 Jan 2012 20:46:05 +0000

For insurance agents Gary Trippe and Jim Pender, the idea for DVIC, or Disabled Veterans Insurance Careers, which aims to guide disabled veterans into careers in insurance, evolved in part from their own personal experiences with disabled family members. In this interview with Insurance Journal’s Andy Simpson, the two share their dream of an organization that will train and employ disabled veterans in sales and service jobs they can do from home. This podcast and story are part of a series on veterans in insurance.

North Carolina Veteran Gambled, Won with Own Agency

mtolk — Wed, 18 Jan 2012 20:39:54 +0000

North Carolina’s C.G. Caldwell joined the U.S. Coast Guard at age 18 right out of high school. He served in the health services field in the U.S. Coast Guard from 1990 until 2001, stationed on large medical ships in ports from New York to San Francisco. After leaving the Coast Guard, he worked in another hospital for four years before deciding he needed a change. In this interview with Insurance Journal’s Andy Simpson, Caldwell says the confidence he gained in the military made it possible for him to risk going out on his own and starting his own insurance agency. He advises other veterans to consider a career as an agent. This podcast and story are part of a series on veterans in the insurance industry.

How Insurance Distribution Is Changing

mtolk — Wed, 04 Jan 2012 22:31:52 +0000

Retail and wholesale brokers face the challenge —and opportunity— of redefining their relationships and value proposition in today’s changing insurance distribution world, according to Glenn Hargrove, president, MarketScout Wholesale, Dallas, Tex. In this interview from the recent Western Insurance Agents Association’s Insurance Industry Roundtable in California, Hargrove outlines the value proposition of agents and brokers and discusses the future of distribution.

Building Strong Relationships from a Bank Robbery Veteran

bpedroso — Mon, 11 Apr 2011 12:00:00 +0000

A discussion with Billy Bond, executive vice president of the Sales Force Development Group for Leavitt Group, and Patrick Linnert, executive vice president with of MarshBerry, on building strong, meaningful and lasting relationships. If you want to do it right, you have to differentiate yourself professionally and personally. Hear Linnert’s remarkable personal story and how the Four-Step Differentiation Process has affected his life.

You can download Linnert’s article, “Differentiation – A Personal Reflection,” by clicking here.

Working on Your Agency vs. Working in Your Agency

bpedroso — Mon, 21 Mar 2011 12:00:10 +0000

Shirley Lukens, principal of Reagan Consulting knows a thing or two about agency best practices. She helped launch the first Best Practices study back in 1992 and has been the steward of the program ever since. Listen in as Lukens talks with Peter Van Aartrijk and Rick Morgan about the program and the common traits that distinguish some of our industry’s best performers. For example, Lukens talks about the interplay between growth and profitability as it relates to agency value and how Best Practice agents are investing in their firms and are focused on growth.

Using Employees’ Web Information in Hiring, Insurance Decisions

bpedroso — Fri, 19 Nov 2010 19:57:21 +0000

Employee screening has moved well beyond criminal and credit histories to anything publicly available on the Internet. California-based Social Intelligence Corp. collects Internet data on employees for employers. Max Drucker, company co-founder and CEO, says his service protects employers from liability in hiring decisions and protects employees from discriminatory information being used in hiring. Drucker, who helped build the insurance web application company Steel Card that was bought by ChoicePoint, suggests insurance companies might use web monitoring in investigating claims in this interview with Insurance Journal’s Andrew Simpson.

LexisNexis Insurance Exchange 2: Privacy, Security Issues

bpedroso — Thu, 11 Nov 2010 19:21:47 +0000

The Council of Insurance Agents and Brokers, LexisNexis, key agencies and a variety of insurance and technology partners are currently testing the LexisNexis Insurance Exchange, a single entry submission platform for commercial lines business. In this Part 2 of his interview at the recent MarketScout Entrepreneurial Insurance Symposium, Frank Sentner, CIAB’s technology director, discusses the some of data security and privacy issues surrounding the exchange. In the first part of this interview, Sentner discussed the basics of this potentially game-changing system.

Things Ex-Risk Managers Wish They Had Known

bpedroso — Wed, 10 Nov 2010 20:20:15 +0000

Two former risk managers share some of the things they know now that they wish they had known when they were in their old jobs. Henry Good, now with Wells Fargo Insurance Services, and Lance Ewing, now with Chartis, spoke with Insurance Journal’s Andy Simpson at the MarketScout Entrepreneurial Insurance Symposium.

Network Matches At-Home Insurance Retirees with Employers

bpedroso — Tue, 19 Oct 2010 22:56:33 +0000

As more and more experienced insurance agency and carrier employees discover their retirement income isn’t what they thought it would be, many are happy to find work they can do from home to supplement their income. That’s where Sharon Emek and her new organization, WAHVE, or Work At Home Vintage Employees, come in. This network of retired insurance industry employees could be put to work for you or your agency.

Agency Technology with a Silver Lining: Cloud Computing

asimpson — Fri, 17 Sep 2010 14:55:08 +0000

Cloud computing enables users to access software applications and records from any Internet enabled device—at home, in the office, on the road—anywhere. Adam Kotter is president of the Kotter Group, based near Atlanta, which specializes in cloud computing for independent insurance agencies. In this interview with Insurance Journal’s Andy Simpson, Kotter discusses the advantages of cloud computing for disaster recovery, data security, cost savings and everyday agency management.

Advanced Basic Training – A 12-Week Foundational Course

creese — Tue, 02 Feb 2010 18:01:50 +0000

The Insurance Journal Academy of Insurance provides online training for insurance professionals.

Insurance is one of the most important financial mechanisms of modern capitalistic societies. And an insurance career can be fascinating and rewarding – provided it has the right foundation. The 12-week Advanced Basic Training course will provide that strong career foundation. Designed for those new to the insurance industry (2 years or less), and even those that feel the need for professional improvement, the Advanced Basic Training program places insurance in the context of risk management and the law. This very interactive course offers:

• An analysis of insurance within the realm of risk management
• A deeper understanding of the nature and statistics of insurance
• A better understanding of insurance, the law and regulation
• Weekly study notes
• Any-time access to me via phone or email

All 12 classes will be recorded and sent to registered students. Students unable to meet for every class can watch the recorded classes at their convenience.

All classes are scheduled weekly at 10:30am (Pacific)/1:30pm (Eastern) on the following dates:

April 22, 29, May 6, 13, 20, 27, June 3, 10, 17, 24, July 1, 8

Learn more about our 12 Week Training Program for Insurance Agents.

Economy Has Long Way to Go, CNA Chief Says

creese — Tue, 22 Dec 2009 21:07:15 +0000

Recent property/casualty insurer financials showed improvement but Thomas Motamed, CNA Financial’s CEO and chairman, isn’t jumping for joy yet. Investment income is down and underwriting results aren’t improving, he says in this interview with Insurance Journal’s Andrew Simpson. That means companies like his have to stress pricing and underwriting discipline even though the economy continues to make this difficult.

Insurance Innovation: An Oxymoron?

bpedroso — Tue, 22 Dec 2009 19:27:49 +0000

Insurance innovation…is it an oxymoron? That was the provocative title of a panel at the Professional Liability Underwriters Society meeting in Chicago. One of the panelists, Leib Dodell, now with the new ThinkRisk Underwriting in Kansas City and formerly president and CEO of Media Professional Insurance, discusses why and how the insurance industry should embrace innovation.

Why P/C Insurance Industry Must Innovate: Dodell

creese — Tue, 15 Dec 2009 13:29:42 +0000

Virtually every company has both media and technology exposures today. Traditional liability policies, marketing, and even distribution in the property/casualty insurance industry have to change to keep up with this convergence, advises Leib Dodell, formerly president of Media Professional Liability and now with ThinkRisk Underwriting in Kansas City. In this interview with Insurance Journal’s Andy Simpson, Dodell also discusses the state of innovation in the insurance industry and the current status of copyright liability.

Media, Tech Markets Converge: Dodell On Keeping Up

bpedroso — Mon, 07 Dec 2009 19:51:27 +0000

The world is changing, with virtually every business now facing both media and technology exposures. Insurance needs to keep up, says Leib Dodell , former president and CEO of Media Professional Insurance, who is now part of the team launching a new specialty E&O facility based in Kansas City called ThinkRisk Underwriting Agency. In this interview with Insurance Journal’s Andrew Simpson, Dodell discusses how the insurance industry might adjust to keep up with the convergence of the media and technology marketplaces.

Economic Recovery Is Real But Uneven: Insurance Economist

bpedroso — Thu, 03 Dec 2009 00:14:07 +0000

Dr. Robert Hartwig, president and economist at the Insurance Information Institute, is the “go-to guy” when it comes to understanding economic and policy trends that affect the property and casualty insurance industry. He’s had a busy year explaining trends to insurance groups around the country. In this interview with Insurance Journal’s Andy Simpson, Dr. Hartwig touches on a number of subjects: the recovery, the financial challenges that face property/casualty insurers, and a new tort crisis in the making. Hartwig also discusses the future economy and the opportunities it might offer for the industry.

Marketing on the Web

bpedroso — Wed, 02 Sep 2009 16:24:49 +0000

Adam DeGraide, Founder and CEO of Astonish Results, developed the Digital Marketing System while perfecting his web-based marketing strategies with car dealerships. Employing similar methods for the insurance industry, DeGraide and Astonish have created a new way for agencies to find, sell and keep prospects and customers.

Japanese Agents Learn U.S. Best Practices

bpedroso — Tue, 01 Sep 2009 18:23:25 +0000

Japanese insurance agents learned about best practices from U.S. agencies on a recent East Coast tour. Peter van Aartrijk, of Aartrijk Branding Group, and Sue Noda, of the Independent Insurance Agents & Brokers of Japan, discuss the visit and what it’s like to be an independent agent in Japan.

How to Hire an Agency Consultant

bpedroso — Mon, 17 Aug 2009 21:33:57 +0000

Agency consultant Al Diamond of the Agency Consulting Group says a good consultant helps an owner realize his or her own dreams, not the dreams of the consultant. What consultants can be expected to do and how they get paid.

Most Common Mistakes By Agencies

bpedroso — Mon, 17 Aug 2009 21:33:48 +0000

Agency consultant Al Diamond of the Agency Consulting Group cautions agents against shrinking their business even under financial and pricing pressures.

Agency Hiring in Today’s Economy

bpedroso — Mon, 17 Aug 2009 21:33:39 +0000

Agency consultant Al Diamond of the Agency Consulting Group with some tips on how insurance agents might capitalize on other industries’ woes.

How to Use Compensation to Motivate Employees

bpedroso — Mon, 17 Aug 2009 18:07:55 +0000

Agency consultant Al Diamond of the Agency Consulting Group says a properly-constructed compensation plan can re-energize producers who have lost their spark. It works for non-producer employees, too.

Agency Management with Al Diamond

bpedroso — Fri, 14 Aug 2009 00:29:08 +0000

Al Diamond is one of the country’s best known and respected agency management consultants. His firm, Agency Consulting Group, Inc., is based in Cherry Hill, New Jersey. He deals with agencies across the country on issues ranging from operations to mergers to sales and compensation. He is also a Best Practices instructor for the Independent Insurance Agents & Brokers of America and author of the newsletter, Pipeline. In this full video interview with Insurance Journal’s Andrew Simpson, Diamond discusses compensation, motivation, mergers, client retention, even how to hire an agency consultant.

Who’s Getting Into, Out of the Agency Business

bpedroso — Mon, 03 Aug 2009 19:35:12 +0000

Agency consultant Al Diamond of the Agency Consulting Group discusses why more people are starting agencies today and why some who left are returning to the business.

Growing an Agency

bpedroso — Wed, 15 Jul 2009 19:36:34 +0000

Agency Management Done Right is an audio podcast hosted by Mitch Dunford exploring various aspects of agency management.

The topic of the fifth episode is growing an agency, and Mitch is joined by Bill Bolton, co-founder of Bolton & Company, the largest and most successful independent insurance agency in the country. Topics of conversation include Bolton’s information and advice on how to take your agency to the next level.

Sponsored by MyNewMarkets.com

The Politics of Young Independent Agents

bpedroso — Mon, 15 Jun 2009 21:54:01 +0000

Imagine a world in which every independent agent is under age 40. How might agencies run differently? How might industry politics change? Young agent Joey O’Connor, vice president with Daniels & Eustis Agency in Louisiana, and the chairman of Big I’s Young Agent Committee, describes this brave young world in this interview with Insurance Journal’s Andrew Simpson.

The Optimism of Young Independent Agents

bpedroso — Wed, 10 Jun 2009 22:53:50 +0000

Young agent Joey O’Connor, vice president with Daniels & Eustis Agency in Louisiana, talks about what being independent means to him and to other young agents– and why they are optimistic about the future — in this excerpt from an interview with Insurance Journal’s Andrew Simpson.

CPCU Society Tackles Diversity

bpedroso — Tue, 09 Jun 2009 12:49:12 +0000

CPCU Society President Marvin Kelly discusses what the Society is doing to increase diversity within its own ranks and in the industry in this first part of a recent interview with Insurance Journal’s Andrew Simpson. Kelly also addresses the perception that the CPCU designation is more for company employees than it is for agents and brokers.

Business Travel

creese — Thu, 21 May 2009 23:52:40 +0000

Agency Management Done Right is an audio podcast hosted by Mitch Dunford exploring various aspects of agency management.

The topic of the fourth episode is business travel, and Mitch is joined by Michael Lyons, VP of the National Business Travel Association (NBTA). Topics of conversation include the swine flu and its impact on business travel, airline pricing and services and tips for the smaller agency to negotiate lower prices with airlines, hotels and rental car companies.

Sponsored by MyNewMarkets.com

Workers’ Compensation

creese — Tue, 19 May 2009 16:31:03 +0000

Agency Management Done Right is an audio podcast hosted by Mitch Dunford exploring various aspects of agency management.

The topic of the third episode is workers’ compensation. Mitch is joined by Chris Boggs, author of “The Insurance Professional’s Practical Guide to Workers’ Compensation: From History Through Audit” and Stuart Powell, vice president of insurance operations at Independent Insurance Agents of North Carolina (IIANC).

Sponsored by MyNewMarkets.com

Agency Management Done Right, Episode 2: Social Media

admin — Mon, 13 Apr 2009 07:25:27 +0000

Agency Management Done Right is an audio podcast hosted by Mitch Dunford exploring various aspects of agency management.

The topic of the second episode is the rise of social media, including Facebook, Twitter and LinkedIn, and how insurance agencies can use these new tools to engage customers in fun and unique ways. Mitch is joined by Rick Morgan and Peter van Aartrijk, insurance industry veterans specializing in marketing, communications and technology.

Sponsored by MyNewMarkets.com

The Economy

creese — Thu, 02 Apr 2009 07:52:06 +0000

Agency Management Done Right is an audio podcast hosted by Mitch Dunford exploring various aspects of agency management.

The topic of the inaugural episode is the financial health of the U.S. insurance carriers and when, if ever, the market is going to harden. Mitch is joined by Andy Simpson, editorial VP of Wells Publishing, Inc. and Joe Petrelli, president of Demotech, an actuarial consulting and financial analysis firm located in Columbus, OH.

Annual Statements for the year 2008 of all P&C companies reporting in 2007 & 2008:
1. Statement of Income
2. Exhibit of Premiums and Losses (Statutory Page 14)

Sponsored by MyNewMarkets.com

What’s Keeping D&O Clients, Brokers Awake At Night

bpedroso — Mon, 23 Mar 2009 01:42:21 +0000

Securities class actions are not the only worry for Directors & Officers Liability clients and brokers today. They are also being kept awake by expected bankruptcies, heightened regulatory action and even foreign practices, Denise Amantea, a partner with Woodruff Sawyer Insurance in San Francisco, tells Insurance Journal from the 2009 Professional Liability Underwriting Society (PLUS) D&O Symposium.

How Brokers Manage D&O Expectations

bpedroso — Mon, 23 Mar 2009 01:28:49 +0000

Carpenter Moore Senior Managing Director Norman Allen discusses a recent Professional Liability Underwriting Society (PLUS) survey on the role of brokers in the claims process for Directors & Officers Liability and where tensions may exist. Also, how a broker helps define expectations not only of the client but also of the carrier.

AIG on Today’s D&O Liability Climate

bpedroso — Fri, 06 Mar 2009 18:31:33 +0000

Given today’s headlines, directors and officers are questioning their liability exposure like never before. In this interview with Insurance Journal’s Andy Simpson at the recent PLUS convention in New York , Mike Smith, president of AIG Executive Liability, discusses the D&O market for financial and non-financial firms, and the importance of brokers, underwriters and relationships.

N.Y. Insurance Chief Dinallo: Beyond AIG

creese — Wed, 04 Mar 2009 21:09:15 +0000

New York Insurance Superintendent Eric Dinallo has been in the middle of the AIG bailout, bond insurance and federal regulation crises and debates. But he has also dealt with producer compensation, reviving the Insurance Exchange, workers’ comp reforms and other matters. In this exclusive interview with Insurance Journal’s Ken St. Onge, Dinallo discusses the last 12 months and how his department has managed.

Keeping Restaurant Exposures Low

creese — Wed, 21 Jan 2009 21:05:45 +0000

Brian O’Loughlin is managing partner at The Vine, a San Diego, Calif. restaurant that serves wine and beer, and food that pairs well with both. In this episode of Watching the Risks, Brian explains The Vine’s insurance risks and coverage and outlines staff training and other measures he uses to manage risk.

Managing an Agency in a Troubled Economy: Agents Must Set Priorities

creese — Tue, 20 Jan 2009 18:31:10 +0000

In this economy, agents must be looking at how they are managing their agencies overall, but they also have to set priorities. Insurance Journal’s Andy Simpson asked Juan Andrade, executive vice-president for sales and distribution at The Hartford, where he also oversees the agency management consulting arm, Business Management Group, what agents’ priorities should be.

Lessons for 2009 from 2008, Part 3: Common Sense

creese — Wed, 14 Jan 2009 21:25:55 +0000

The market just has to harden in 2009. That’s just common sense, right? Joseph Lebens of Towers Perrin analyzes what might happen to pricing in the year ahead in part 3 of his interview with Insurance Journal’s Andrew Simpson.

Lessons for 2009 from 2008, Part 2: Beyond Insurance Risk

creese — Wed, 14 Jan 2009 17:43:00 +0000

Insurance carriers must recognize that their risk is not just insurance risk. There is liquidity risk. There is market risk. There is investment risk. Joseph Lebens of Towers Perrin thinks one overriding lesson from 2008 for 2009 will be the need for risk management. Part 2 of his interview with Insurance Journal’s Andrew Simpson.

Lessons for 2009 from 2008, Part 1: Cats, Gas and Subprimes

creese — Wed, 14 Jan 2009 02:55:03 +0000

Joseph Lebens of Towers Perrin discusses what happened to insurance prices in 2008 and why in this first part of a 3-part interview with Insurance Journal’s Andrew Simpson.

Managing an Agency in a Troubled Economy: An Agency’s Best Investment

creese — Fri, 09 Jan 2009 00:11:29 +0000

Stock market volatility and poor economic conditions create investment challenges for businesses or investors. New investment opportunities must be weighed carefully, says InsurBanc’s executive vice president and senior lending officer Bob Pettinicchi. In these times, agents just might find that the best investment they can make is their very own agencies.

Managing an Agency in a Troubled Economy: Smart Cash Management Pays Off

creese — Thu, 08 Jan 2009 23:51:24 +0000

A recent Insurance Journal survey found that insurance agencies are reducing fixed costs and unnecessary spending. According to Bob Pettinicchi, executive vice president and senior lending officer for InsurBanc, one of the ways for agencies to reduce costs is to review relationships with banks. Similarly, Pettinicchi warns agencies against becoming a bank for their insureds.

Managing an Agency in a Troubled Economy: How Agents Can Get Credit When They Need It

creese — Thu, 08 Jan 2009 23:37:21 +0000

Unlike many other businesses, most insurance agencies don’t routinely depend on access to credit for working capital. However, insurance agents have event-driven needs for capital, and sound business practices make access to capital easier. In the first in a series of conversations with Insurance Journal’s Andy Simpson, Bob Pettinicchi, executive vice president and senior lending officer for InsurBanc, explains how agencies can make themselves more attractive to capital, when needed.

Managing an Agency in a Troubled Economy, Priority No. 3: Operational Efficiency

creese — Sat, 20 Dec 2008 00:58:42 +0000

Managing an agency in today’s economy and soft market forces agents to set priorities. Juan Andrade, executive vice-president for sales and distribution at The Hartford, says the priority after customer retention and sales growth is operational efficiency. This is part 3 of a 3 part series with Andrade.

Managing an Agency in a Troubled Economy, Priority No. 2: Sales Strategy

creese — Sat, 20 Dec 2008 00:44:51 +0000

As critical as it is for managing an agency today, customer retention alone is not enough. According to Juan Andrade, executive vice-president for sales and distribution at The Hartford, after customer retention, sales should be the next priority. He tells Insurance Journal’s Andy Simpson that agencies are most likely to grow if they are disciplined about sales. This segment is part 2 of a 3 part series with Andrade.

Managing an Agency in a Troubled Economy, Priority No. 1: Customer Retention

creese — Sat, 20 Dec 2008 00:39:41 +0000

In this economy, agents must be looking at how they are managing their agencies, but what should be the top priority? Insurance Journal’s Andy Simpson asked Juan Andrade, executive vice-president for sales and distribution at The Hartford, where he also oversees the agency management consulting arm, Business Management Group. This is part 1 of a 3 part series with Andrade.

Paper-free Simplicity

bpedroso — Mon, 10 Nov 2008 23:19:23 +0000

Tapco Underwriters has nearly 10 years of paper-free operations under its belt. In this interview from the recent NAPSLO Annual Convention in SanDiego, Tap Johnson, Tapco Underwriter’s president, discusses the value of being a paperless organization, the challenge of overcoming human resistance, and how the transition helped him better serve his retail agent customers.

Times of Boom and Bust

bpedroso — Tue, 07 Oct 2008 18:12:42 +0000

The property/casualty industry has its times of boom and bust. How are surplus lines brokers in particular affected by this and what can they do to remain profitable? E.G. Lassiter, chairman and CEO of Atlanta-based RSUI Group Inc., answers that and other questions in this interview with Insurance Journal’s Andrea Wells at the recent National Association of Surplus Lines Offices’ annual convention in San Diego.

How Today’s Soft Market Differs from the Past

bpedroso — Thu, 02 Oct 2008 22:29:52 +0000

The soft market is here again and an over supply of capital is the main reason for the market’s turmoil, says Skip Cooper, president of AmWins Group Inc. In this interview with Insurance Journal’s Mark Wells at the recent NAPSLO Annual Convention in San Diego, Cooper says that while the capital is a bit more disciplined than past soft market cycles, carriers are still hurting. There’s also a big disconnect between carrier pricing and the terms of reinsurance, he adds, something unique to the current market cycle.