Part Two: Ten Recommendations for Hiring New Producers In our previous post, Internal Growth Challenges, we discussed several obstacles that create a need for agencies to recruit and train their own producers. In this post, we offer recommendations for agencies that are ready to make that commitment. Building your own team is a substantial investment,Continue reading “Is Your Agency Strategically Planning for Long-Term Producer Succession?”
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Is Your Agency Strategically Planning for Long-Term Producer Succession?
Part One: Internal Growth Challenges In this first installment of our two-part series, we delve into the top and bottom-line growth challenges agencies face on an annual basis and why a long-term strategy for new producer recruitment and development is vital. Most of the challenges listed have always plagued the industry but given the numberContinue reading “Is Your Agency Strategically Planning for Long-Term Producer Succession?”
Private Equity Continues to Drive Insurance Agency Acquisitions
Despite Interest Rates, There Will Always Be Options for Profitable Agencies A recent article by Robert Pettinicchi in the BIG I Independent Agent Magazine discusses the slowdown of private equity backed insurance agency acquisitions. While it is true that recent fluctuations in interest rates may have caused a slowdown it may be premature to assumeContinue reading “Private Equity Continues to Drive Insurance Agency Acquisitions”
Chat GPT Writes on its Future Impact to Outside Sales
Artificial Intelligence (AI) and Its Impact to the Outside Sales Industry Since its inception, AI has sparked discussions about its potential impact on human jobs. We requested Chat GPT to shed light on how AI could affect the outside sales industry, and the response was surprisingly optimistic. Contrary to fears of job displacement, AI isContinue reading “Chat GPT Writes on its Future Impact to Outside Sales”
Five Reasons Why Directors & Officers Coverage is Essential
Directors and Officers (D&O) insurance protects the personal assets of directors and officers of a company in the event of a lawsuit or legal action. D&O insurance coverage is essential for businesses of all sizes, as it provides financial protection to the leadership of a company, ensuring that they can continue to operate and makeContinue reading “Five Reasons Why Directors & Officers Coverage is Essential”
Challenges for Salespeople in 2023
Salespeople will always be an essential part of the business world, and their role has become even more crucial in the digital, post COVID-19 age. With the rise of virtual communication and remote work, salespeople have had to adapt and learn new skills to build and develop relationships in this ever-changing environment. Some of theContinue reading “Challenges for Salespeople in 2023”
Earthquake Insurance – Being Prepared
Understanding Frequency and Major Faults According to the United States Geological Survey (USGS), California has experienced over 10,000 earthquakes since 2010, with a magnitude of 3.0 or higher. While most of these earthquakes were minor and did not cause significant damage, some were more severe, including the 7.1 magnitude earthquake that struck Ridgecrest in 2019.Continue reading “Earthquake Insurance – Being Prepared”
Understanding Reference-Based Pricing
If you’re in the business of providing employee benefits, you’re likely aware that healthcare costs are a major concern for employers and employees alike. As more companies explore the option of self-insurance, they are also increasingly looking at implementing reference-based pricing. Reference-based pricing (RBP) works to set a maximum price for medical procedures based onContinue reading “Understanding Reference-Based Pricing”
Why Every Business Should Purchase Cyber Liability Insurance
In today’s digital age, businesses are increasingly relying on technology to store their sensitive data and to carry out their daily operations. However, this dependence on technology also increases the risk of cyber attacks, data breaches, and other forms of cybercrime. Therefore, it is essential for businesses to have adequate cyber liability insurance to protectContinue reading “Why Every Business Should Purchase Cyber Liability Insurance”
Health Insurance Costs Continue to Rise
The cost of employee benefit insurance, which includes health insurance, life insurance, disability insurance, and other benefits offered by employers, continue to rise for both employers and employees. In the past two years, the cost of providing these benefits has increased significantly, leading to higher premiums and deductibles for employees. We will explore and highlightContinue reading “Health Insurance Costs Continue to Rise”
2023 Construction Outlook
The construction industry has been an essential driver of economic growth, infrastructure development, and job creation for years. In 2023, the industry is set to experience a period of unprecedented transformation as it adapts to meet the changing needs of society. This blog post will discuss the current status of the construction industry in 2023Continue reading “2023 Construction Outlook”
Boost Your Earnings in Commercial Insurance
Are you looking for a career that offers flexibility, residual income, and the potential to earn big bucks? Look no further than commercial insurance sales. This challenging and rewarding field can provide a path to financial security and the lifestyle you desire. Here’s why: In commercial insurance sales, your career advancement and income potential areContinue reading “Boost Your Earnings in Commercial Insurance”
Six Items Business Owners Stop Purchasing During a Poor Economy
Regardless of recession, inflation or a down stock market, businesses of all sizes make tough choices to keep profitability when times get tough. Tough decisions are made, and purchases are delayed or cancelled all together, sometimes even after having budgeted for them well in advance. Every business is unique, but there are several common expensesContinue reading “Six Items Business Owners Stop Purchasing During a Poor Economy”
2023 Jobs Outlook – Changes Abound in Sales Positions
As we enter the year 2023, the outlook for sales jobs will becoming increasingly challenging. The sales industry has undergone significant changes since the advent of COVID-19, and this trend shows no sign of changing anytime soon. In this blog post, we explore the key trends shaping the sales job market in 2023 and whatContinue reading “2023 Jobs Outlook – Changes Abound in Sales Positions”
Four Reasons to Consider Selling Commercial Insurance
As a salesperson, you’re always looking for a career and for the right opportunity to increase your revenue stream. One area that is often overlooked is selling commercial insurance. Commercial insurance refers to insurance policies that are designed to protect businesses from financial losses due to property damage, liability claims, and other risks. In thisContinue reading “Four Reasons to Consider Selling Commercial Insurance”
Insurance is Recession-Proof But Are Agencies?
The insurance industry has long been regarded as a recession-proof industry. Unlike other businesses that rely on consumer spending, the insurance industry offers a vital service that is essential in protecting individuals and businesses against unforeseen circumstances. In fact, it is one of the few industries that are required to keep businesses running. However, despiteContinue reading “Insurance is Recession-Proof But Are Agencies?”
