Finding New Producers
Most of our agency clients tell us they have a hard time finding producers. They want to know where to look and how to bring them in. It is not an easy task to find someone, especially a producer from …
The Anatomy of Employee Happiness: Key Factors That Drive Workplace Satisfaction
In today’s competitive job market, companies are increasingly recognizing the importance of prioritizing employee happiness. It’s no secret that happy employees are more productive, engaged, and likely to stay with their employers for the long term. But what exactly makes …
Power of the Mastermind: Part Two
Editor’s note: The following article is a continuation of Part One, published in Insurance Journal’s May 6, 2024, issue in the Minding Your Business section. What is a mastermind group? A mastermind group is simply an alliance of two or …
Power of the Mastermind: Part One
What is a mastermind group? A mastermind group is simply an alliance of two or more individuals dedicating themselves to a specific goal. It is a way to get all the knowledge, expertise and connections needed to achieve a goal. …
M&A Due Diligence: Understanding the Issues and Solutions to the Pitfalls
Mergers and acquisitions in the insurance industry continue steadily despite a slowdown due to COVID-19 and higher interest rates. After the price and terms are negotiated and a Letter of Intent (LOI) is executed, then it is time for the …
The Future of Insurance Agencies
There is a traditional proclamation made following the accession of a new monarch in various countries that simultaneously announces the death of the previous monarch and asserts continuity by saluting the new monarch. “The king is dead; long live the …
Performing Your Agency Report Card
The beginning of a new year with all the related planning is a perfect time to take a look back and find areas of improvement. Planning ahead requires an understanding of where you are now, how you got there, what …
Industry Trends to Exploit for 2024
Agency owners must watch and learn about major trends when they start. Following are key trends that insurance agencies should be tracking for 2024. 1. Insurtech Several trends are emerging in the insurtech sector. Artificial intelligence, or AI, and machine …
Merging Producer Development and Compensation in Insurance Agencies to Cultivate Success
In the dynamic world of insurance, producers — commonly known as agents or brokers — stand at the intersection of client needs and the array of insurance products available. They not only drive sales but also shape the face and …
10 Basic Tenets for Successful Family Owned Agencies
The presence of family run businesses continues to play a major role in the U.S. economy. From rural mom and popyshops to international conglomerates, family businesses are at the foundation of our economy. Ford Motor Company, Walmart, Berkshire Hathaway, and …
