Agency Management News

State of Insurance Agency E&O Insurance Market: Managing Rates and Risks

Agency errors and omissions (E&O) coverage is likely the most important insurance policy an agency purchases. As customer demands rise to an all-time high, having the right E&O coverage and ensuring best practices are followed to prevent E&O claims is …

12 New Year’s Resolutions for Insurance Agents

During the course of a year, Insurance Journal columnists, consultants and other writers dispense countless words of wisdom on how to be a better and more successful professional insurance agent. If you are a veteran insurance agent — or an …

What Agents Should Know Before Joining an Insurance Agency Network

Today is a great time to be an independent agent, but running an independent agency is not easy. Without an awareness of how the industry is evolving, and having access to ongoing training and education, you may not be adequately …

3 Steps to Building an Agency Growth Machine

How much did your agency grow last year? How about in the past five years? If your answer is anything less than 10%, then this article is for you. In it, I want to share with you three keys to …

Consultant Sees Larger, Fewer P/C Insurance Agencies Going Forward

There will be fewer insurance agencies operating in the property/casualty insurance industry in the future and those that remain will be larger and more tech-savvy, says an insurance-focused executive at the consulting firm, Ernst & Young (EY). Ed Majkowski, EY’s …

The Value to Insurance Agencies of Value-Added Services for Clients

Let’s face it, insurance is a commodity. The insurance consumer will not see any significant value difference between insurance companies and insurance agencies. Products, price and service are roughly the same. Consumers have new options to access insurance through, as …

5 Steps to Improving Producer Hiring Results

As an agency owner, the success of your business is directly tied to your hiring process. Each bad hire can easily cost $100,000 to $200,000. However, good producers can add $1 million of annual revenue (which nets most owners around …

Why Insurance Agencies at Crossroad Are Turning to Aggregators: Viewpoint

Even as they look back on several years of steady growth and success, many owners of independent insurance agencies now find themselves at a crossroad where they are pressed to make critical strategic decisions about the future of their firms. …

Doable Dozen: 12 Sales, Marketing and Management Ideas for Agencies

Eggs, juries, roses, even doughnuts– many good things come in a dozen. On the theory that more than 100 of anything seems like a lot to consider, but a dozen seems doable even on the busiest of days, here are …

Chubb Launches Agency Management & Agency Underwriting Unit in Singapore

Chubb announced the launch of a new Agency Management and Underwriting unit in Singapore. This dedicated unit will manage the strategic growth of the agency distribution channel as well as its specific underwriting and service needs. Two new appointments have …