For all the effort poured into growing a book of business and servicing accounts, surprisingly little time goes toward ensuring commission from those policies hits the general ledger.
Rodriguez’ agency offers franchising opportunities to aspiring business owners with the entrepreneurial spirit. He also serves on the board of the Delaware Association of Insurance Agents & Brokers.
By making philanthropy a bona fide part of their strategy, agencies can take their community and business impact to the next level.
Lucky is the insurance agent whose commercial client’s state of residence never changes and all their employees live and work in that same state. But, of course, life is never that simple.
A time will come when agency owners must decide whether they will sell externally to a third-party buyer or sell internally to family or key stakeholders.
Financial literacy and fundamental business acumen are two of the most glaringly absent competencies among agency principals.
Any business where the threat of physical harm could occur on or near the premises has an assault and battery exposure. It is not limited to liquor stores, restaurants and bars.
Private equity (PE) buyers are responsible for 77% of the publicly reported acquisitions in the independent agency system. However, there are some prevalent misperceptions about PE buyers.
Inadequate limits are an all-too-common claim in independent insurance agency E&O. And with inflation today outstripping even the inflation guards inserted on some policies, these claims are becoming more frequent.
What is your firm’s culture? It might include a compelling value proposition or describe how you provide the best service or have cutting-edge technology. But what about your sales culture?
