Idea Exchange

Why the WannaCry Breach Brings Good News

Don’t cry over spilled milk, in fact maybe it will teach you to hold the carton tighter. A lesson well learned. This is why, despite the harsh headlines, the ransomware attack that struck the world in May, WannaCry, makes me …

Minding Your Business: Agency of the Future

Yogi Berra once said: “It’s tough to make predictions, especially about the future.” Ignoring that wisdom, what will the insurance agency business model look like in 10 years or 20 years? Right now there are several major trends that are …

5 Tips for Selling Umbrella Insurance

Whether you’re new to selling insurance or you’re an expert at it, you may have found umbrella insurance is one of the products that lots of people do not understand, and may need more convincing to buy, than say, homeowner’s …

The Wedge: CRM or Organic Growth Technology?

Why off-the-shelf CRM technology might not get you what you really want – growth! Imagine this conversation with another agency owner: “Charlie, what are you guys using as a pipeline tool?” “Well Mike, I had my IT guy look into …

California High Court to Address Occurrence Caused by Accident

  The California Supreme Court is set to address the issue of whether there is an “occurrence” under an employer’s commercial general liability policy when an injured third party brings a claim against an employer for the negligent hiring, retentionor …

Dreaming of Selling Your Agency? Here’s How to Avoid Costly Mistakes

“I’m being bought out!” “We’re merging with an agency five times our size that will take our revenue to a whole new level!” While expressions of excitement like the ones above might be music to the ears of an owner …

A Few E&O Tips to Watch: Certificates, Carrier Ratings and Alternative Markets

It seems agencies today have more challenges than ever. Below are three tips to reduce errors and omissions (E&O) exposures. 1. Send Certificates of Insurance I would love to share with you a story regarding a multinational company that demanded …

Ransomware Risk: 4 Questions to Ask to Optimize Cyber Insurance

Following the “WannaCry” ransomware cyberattack in at least 140 countries, insurers, brokers and cyber risk management specialists are working with businesses to report claims, improve and expand existing cyber insurance coverages, and implement cybersecurity best practices. This is the second …

Tech Talk: How to Use Digital Body Language

“When the eyes say one thing, and the tongue another, a practiced man relies on the language of the first.” — Ralph Waldo Emerson Agents pride themselves on their sales skills — to meet a prospect face-to-face, take their measure, …

The Wedge: The Scientific Selling Power of Yes, No and Maybe

My dad was a fighter pilot. He flew a P-47 Thunderbolt, one of the heaviest fighter planes ever built. The aircraft was equipped with eight 0.50-calibre machine guns, four per wing, which were an absolutely devastating combination. The Thunderbolt carried …

Idea Exchange Archives by Month