66% of Insurers Plan Increased Hiring Over Next Year: Study

August 22, 2016

  • August 22, 2016 at 2:15 pm
    Agent says:
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    So companies expecting a slowdown in business are hiring more? Someone please explain that to me. Sounds like an actuarial model someone dreamed up.

    • August 23, 2016 at 7:48 am
      Ron says:
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      Agent,

      Please re-read the 4th paragraph. If you still need it in bullet points:
      – Mass retirements
      – Virtually no unemployment
      – Difficulty recruiting

      • August 23, 2016 at 8:27 am
        SWFL Agent says:
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        Ron, there’s no need to let the facts get in the way.

      • August 23, 2016 at 10:28 am
        Agent says:
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        With 93.5 million adults not in the workforce, why is it so difficult to find people? Millennials are supposed to be good at technology, right? Ron, you could train them into being good Predictive Modelers, right? Perhaps it is that so many young people are not majoring in the right thing to succeed in business. Those Arts degrees are not much in demand.

        • August 23, 2016 at 10:54 am
          Ron says:
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          Agent,

          Why are you parsing words? All you needed to say was, Thank you.

          You’re welcome.

          • August 26, 2016 at 12:07 pm
            UW says:
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            Agent can’t reply to anything, all he can do is recite what he hears or reads on sources like Rush or Drudge. He’s the chief word parser, but does it poorly.

        • August 26, 2016 at 1:39 pm
          Captain Planet says:
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          Age,
          You asked about Millenials above. Did you see this?

          “Millennial business owners may be far better at addressing professional risks than their older counterparts, a new Nationwide study has found.

          Their attentiveness to various kinds of property/casualty insurance runs the gamut. Nationwide found, for example, that 51 percent of millennial small business owners are likely to have a disaster recovery plan in place. That compares to 30 percent from Generation X, and 29 percent of baby boomers.

          Other statistics also heavily favor millennials as being more attentive to risk reduction.

          About 62 percent of millennial small business owners are more likely to have in place business interruption insurance coverage. Only 26 percent of Gen X scores the same way, and just 19 percent of baby boomer small business owners retain the coverage.”

    • August 23, 2016 at 10:26 pm
      Captain Planet says:
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      We have plans to double our net written premium in the next 5 years. We certainly fall in the category of increased hiring next year. Not everyone is slowing down out there!

      • August 24, 2016 at 1:00 pm
        Agent says:
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        How do you plan on doing that Planet? Ron said the insurance business was not a sales business. Perhaps your firm will be acquiring someone else to double your written premium????

        • August 24, 2016 at 1:23 pm
          Captain Planet says:
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          We don’t have any direct writes or even a marketing department. We all wear the marketing hat. Actually, I know for certain we have won accounts based on our risk control services, claims handling, and prior relationships alone. Independent agency partners are most definitely part of the picture, but they are most definitely not solely responsible. I can’t tell you how many times producers with 30+ years of experience have asked members of our Senior Leadership Team to participate in a proposal meeting to help win the account.

          • August 24, 2016 at 4:24 pm
            Agent says:
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            Who gives the proposal, the 30 year Independent Agent professional or your leadership team? Are you there to answer questions a prospect has about claims or risk control services? Generally, larger accounts have their own risk manager. He may ask some pointed questions from time to time, but a well run company is already pretty sophisticated about claims and risk control. It boils down to what the bottom line is on cost for services. Who gets the signature on the app and on the check for deposit or down payment?

          • August 25, 2016 at 8:50 am
            Captain Planet says:
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            We always tell our agents it is their proposal meeting and we are there to support that effort. We do answer questions about claims and our risk control services. We also explain the history of our company. Larger accounts say they have a risk manager, but typically that person is there for compliance reasons only. We still want our risk control reps there making sure they are taking the actions we, the carrier, want them to. We find in the ag sector, there is quite the learning curve and many are resistant to change. That may or may not have something to do with the fact the ag sector is made up of the oldest employee force. Average ag worker is older than any other industry. Typically, those are the ones resisting change.

            I am not going to pretend the agent doesn’t get the signature and/or collects the check. Who promises to pay and writes the check when there is an event? Who pieces the policy together and works with the agent to make sure ample coverage is in place? Some accounts look solely at bottom line. My experience is, the larger accounts and the more “sophisticated” as you suggest, are also the ones who aren’t just looking at the bottom line. They are looking for a carrier they can partner with and have a long-term relationship with. We tell our prospects, we aren’t looking for a 12 month relationship. If that is the type of carrier they like, and want to shop every year, it is time for us to move on.

        • August 25, 2016 at 1:34 pm
          Captain Planet says:
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          Age (short for Agent),
          Who would you sell insurance for if it weren’t for the carrier. Which came first, the insurance egg or the producer egg? Also, if it’s simply price a producer is selling, why does a company need to hire or partner with any agents? We could get monkeys to deliver the cheapest priced paper.

  • August 23, 2016 at 10:56 am
    Millennial says:
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    Agent,

    Why do you hate Millennials? I am new to the insurance industry and have excelled dramatically. In fact they have me teach some of the older generations my processes. I think you have met a few bad eggs and are lumping a whole group of people together.

    • August 23, 2016 at 12:03 pm
      Agent says:
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      Millennial, you must be new to this blog as well. There is a group of Millennials on this blog that are some of the nastiest human beings possible. I have nothing against “nice” Millenials who are courteous, respectful and don’t try to tell me how much more they know about the insurance business than I do. Perhaps you can learn something from the older generation from their experience in this business.

      • August 23, 2016 at 12:22 pm
        confused says:
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        please list all the people in the “group of millenials” you posted that actually have told you they were born after 1980. you keep calling me a millennial even though i keep telling you i was born in the 70s.

    • August 23, 2016 at 1:23 pm
      Uw says:
      Well-loved. Like or Dislike:
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      Don’t let him fool you, it’s not about their behavior, he also dislikes: liberals, Muslims, atheists, Arabs, African Americans, Mexicans, Europeans, Democrats, underwriters, people who aren’t in sales, people who went to college, young people, people with smart phones, data modelers, actuaries, bike riders, people who live in cities, lawyers, people in claims, people in California, people in the Northeast, people in Idaho, people who believe in climate change, scientists, egg heads, dorks, dweebs, nerds on laptops, and so on. As far as we can tell basically everybody who isn’t a white, older, upper-class conservative male in sales in Texas has been ripped by him here.

      • August 24, 2016 at 12:18 pm
        ok says:
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        this is the best comment of all time. Thank you

    • August 23, 2016 at 1:36 pm
      Agent says:
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      Millennial, review the below posts of Confused and UW. They are the attack dogs of the left infecting this blog. UW got the prize for being the worst of the lot.

      • August 23, 2016 at 1:48 pm
        confused says:
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        so you still think i’m a millenial, agent?

    • August 25, 2016 at 12:58 pm
      Agent says:
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      Planet, risk managers I have worked with are mainly industrial/mfg types and they know their business, have really good safety programs to control losses, back to work programs for injured workers. If a Loss Control guy makes good recommendations and it makes sense, they will adopt it. Most of these guys have their act together and the CEO remunerates them for having a good track record. On the GL side, they have really good quality control and records so they have few product recalls and very few losses from products they make.

      • August 25, 2016 at 1:14 pm
        Captain Planet says:
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        I will agree with you if you are talking about the risk control specialists on the carrier side. Don’t get me wrong, there are some good ones working for companies we insure, but those are few and far between. Most are trying to do the least amount of work necessary to stay in compliance with OSHA and meet average expectations of their carriers. Then, we partner with them in order to raise that bar to above average.

        If a company is making a product, good quality controls, maintaining samples, keeping records, good housekeeping, and a recall plan are pre-requisites for us. I don’t think that necessarily speaks to excellent risk management. I fell those are givens.

        • August 25, 2016 at 4:05 pm
          Agent says:
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          Are you saying that the carriers you are writing with have poor Loss Control and you have to ride them to do their job? What does that say about your judgement on who to place business with? I would never place an industrial account with a carrier that had guys who were just getting by and doing the least they can get away with. Do you complain to the Loss Control manager that his rep is just doing the least possible? Man, I would be on the phone with that manager and asking him to assign my account to someone competent and knew something about the industry they are writing.

          • August 25, 2016 at 4:15 pm
            Ron says:
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            Agent,

            Please re-read Captain Planet’s post. He was referring to the loss control of the insureds, not the carriers.

          • August 26, 2016 at 9:03 am
            Captain Planet says:
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            Age,
            I was saying the opposite. As Ron suggests, please re-read my post. You completely missed it.

          • August 26, 2016 at 12:38 pm
            Ron says:
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            Let’s see if Agent is willing to admit his mistake.

            I will not hold my breath.

          • August 26, 2016 at 1:33 pm
            Captain Planet says:
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            Ron, I’d put money on double digit dislikes so he can hide it. For once, I’d love to see Age admit he was mistaken. Just say you read it the wrong way, Age. That’s all you have to do.

  • August 23, 2016 at 1:29 pm
    knowall says:
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    Used to bind coverage at their kitchen table; take signed app back in to office the next morning etc.. now all based on credit history and CLUE etc… insurance sales not as much fun as the old days — probably difficult for millenials to relate to that era, since everything now, including management oversight, is done electronically without much or any face to face – that’s all they are used to

    • August 23, 2016 at 1:43 pm
      Agent says:
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      knowall, something has been lost in the insurance business in the past several years. There certainly is a sparcity of common sense and the computer rules. We used to be able to talk to underwriting and work things out on a risk. Now, if it doesn’t fit in the right box, automatic rejection. These kids don’t know how to sell anything at all. The insurance business is a sales business. All they know is computers and most are liberal which puts them at odds with me on most things.

      • August 23, 2016 at 2:25 pm
        Ron says:
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        Agent,

        Insurance is NOT a sales business. It is a business that is designed to make people financially whole in the event of a significant loss. It is a business of trust, promises and relationships.

        If you honestly believe that sales is the goal of insurance, I feel sorry for your clients/prey.

        • August 23, 2016 at 3:49 pm
          Agent says:
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          Insults will get you nowhere Ron. I am not surprised at all that you failed in insurance sales. By the way, a wise agent once told me that you don’t have a customer without a sale. Customers pay the freight in this business and they aren’t just going to walk through the front door and hand their policies to you and say write it up. The prior agent had to make a sale or the policy would never have been issued. I provide good coverage at the best cost and do close the sale. I then keep them on the books with really good service. Sales=Commissions=Income for agent. Got it yet?

          • August 23, 2016 at 3:58 pm
            Ron says:
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            Agent,

            Then why do you continue to insult so many people?

            Who said I failed at sales? Please provide your proof or stop making false accusations.

            Please tell the class Agent, what are you selling? What happens if the insurance company does fulfill their promise? How many policies would you sell without the insurance company and their claims department?

          • August 23, 2016 at 4:19 pm
            Agent says:
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            Sorry Ron, but I won’t let you insult me with every post and just take it. Didn’t you just apologize to Bob for your insulting behavior in the last blog? That sure didn’t last long, did it. I remember you wanting to extend the olive branch to me on several occasions only to insult me with the very next post. Does that make you feel good? Ok, sales is not your cup of tea, I get that. You have to have the personality and drive to succeed in it and apparently you didn’t.

          • August 24, 2016 at 7:42 am
            Ron says:
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            Agent,

            If you had read my posts, I did not just isolate you insulting me. There are very few people in this world you have not insulted.

            For the record, you never accepted any of the olive branches I extended. Why. Are incapable of debating without insults?

            Once again, please provide proof that I did not succeed in sales.

          • August 24, 2016 at 8:52 am
            confused says:
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            agent logic in full effect here! “how dare you not do the thing i rejected when you offered it to me!” ron extended an olive branch to agent and agent refused it. agent then gets upset when ron doesn’t act in accordance with the olive branch that agent clearly rejected.

          • August 24, 2016 at 6:50 pm
            UW says:
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            Agent thinks questioning him, or pointing anything out that isn’t correct is an insult. It is insulting to our intelligence to read this crap.

  • August 23, 2016 at 1:46 pm
    Wondering says:
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    How many of the new hires will be over the age of 55?

    • August 23, 2016 at 2:04 pm
      Agent says:
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      Many of them who were purged during the last slowdown or sent packing in an acquisition by the acquiring carrier so they can put in their very own Millennials to do the work. Experience counts in this industry and just try to find experience with most markets these days.

      • August 28, 2016 at 7:52 pm
        UW says:
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        So the companies with Millenials are making so much profit they can buy up the other companies? You must admit then that based on the free market Millenials are better employees, right?

  • August 23, 2016 at 5:51 pm
    old uw says:
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    Actually, I think it’s quite fun to see a once great insurer go down because they replaced skilled older workers with the “new generation”, only to watch their bottom line sink down low because of lack of experience. I was apart of that purge a few years ago, but I see now this philosophy is reversing:)

    • August 24, 2016 at 9:52 am
      Agent says:
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      Correct old uw. Some of the best underwriters I have known were experienced and knew how to evaluate a risk, asked for and received good information and if acceptable would try their best to be competitive. As a result, they put a lot of profitable business on the books. The new wave is all about the joke known as Predictive Modeling, putting accounts in a very small box of acceptability and if it doesn’t exactly fit, the answer is no. Then, the marketing rep comes around and wonders why they are not growing with us. Young underwriters do not think outside the box and just do what the very narrow and strict appetite guide calls for.

    • August 26, 2016 at 9:54 am
      Agent says:
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      Experience is something you don’t get until just after you need it!

  • August 26, 2016 at 1:51 pm
    Sue says:
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    Thirty-five years in commercial insurance on both the agency and carrier side. Live in a small town but willing to telecommute and no one will hire me I believe because of my age. I have applied for several field positions in my area. I always get turned down and they always hire someone MUCH younger, barely out of college, don’t have the knowledge, skills or work ethic and they don’t get promoted are usually gone in a couple of years for something better, if they stay that long.

    • August 26, 2016 at 2:40 pm
      Agent says:
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      Sue, sorry for your circumstances, but that seems to be the case these days. I would rather have experience, good skills, good work ethic any day over the fresh faced, barely out of college, inexperienced cell phone addicts that permeate the landscape. They are also not good at working with existing customers and no clue how to recommend and sell additional coverage the customer needs. People skills are important in this business.

      • August 26, 2016 at 3:49 pm
        Captain Planet says:
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        Age,
        From all of the posts you have made out in IJ Land, all the people you have discriminated against in your words, not mine, it begs the question – do you mean people skills or certain types of people skills? Not an attack, I know you support the bakery in not baking a cake for a gay couple’s wedding. I’m just curious if you operate the same. Would you sell insurance to a gay Muslim liberal, if you knew in fact that’s who he is?

        • August 26, 2016 at 4:12 pm
          Agent says:
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          Planet, have you not received emails from the IJ IT staff for insulting behavior, name calling not permitted by this blog? If you did, why does nothing sink in with you? If not, I will make sure you get one soon.

          • August 26, 2016 at 4:26 pm
            confused says:
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            but he didn’t insult you nor did he call you any names. he asked how you operate your business when it comes to selling insurance to minorities. that is totally relevant on an insurance forum!

          • August 26, 2016 at 11:13 pm
            Captain Planet says:
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            Age (short for Agent, like you call me Planet, short for Captain Planet),
            I didn’t call you any names nor was I attempting to insult you. I was asking you a legitimate question, just like the ones you ask me at times.

    • August 27, 2016 at 8:49 pm
      UW says:
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      That’s unfortunate Sue, but maybe it’s due to being in a small market. You are willing to telecommute, but most insurance companies are way behind the times in allowing that, it’s something they have to be willing to do. If you’re in a small market you might not have experience with large accounts, and sadly even if you do they might not recognize it.

  • August 26, 2016 at 4:13 pm
    txmouthbreatherboogereatertx says:
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    Hi Planet,

    I wonder if these conservatives would be willing to bake a cake for the Brokeback Mountain guys. I mean they were a rough and tough crowd with their Wranglers, boots, flannel shirts, cowboy hats. Kinda like Chuck Norris ya know. What if Chuck Norris…..???

    • August 26, 2016 at 11:15 pm
      Captain Planet says:
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      I am assuming most modern conservatives would be willing to bake a cake for The Bundy Bro’s. A bunch of criminal Chuck Norris wannabes.

  • September 18, 2016 at 2:36 pm
    Martin Ridgers says:
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    It is wonderful to read the increase and this is helping the younger generation as I and several others who have been released into the market are finding an age bias in the market.

    I will not give up as I believe the insurance business is a wonderful business and does a lot to assist our communities.



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