williamjones

The coronavirus pandemic played a dramatic role in the acceleration of technology in companies, leading underwriters to scrutinize businesses’ exposures and the safeguards they have in place.

Whether 2023 brings a short, shallow slump or a deep, drawn-out downturn, here are eight ways to recession-proof your agency for the challenges of the year ahead and beyond.

You and your customers have been battered these past few years by various catastrophes of near-biblical proportions. Your customers don’t just want a good year, free of missing coverages and underinsured losses. They need it.

Keeping up with the constant stream of digital tools can feel like drinking from a firehose. However, there are several things agency owners can do to ease the process and ultimately become a tech-savvy business.

In 2021, Perspective Insurance purchased three agencies. When Jessica Mulder was tasked with transitioning each agency and its data onto their agency management system, she knew “there were going to be set backs,” she says. “You had to have an open mindse

Katelyn Aitken Meyer, from Aitken & Ormond Insurance, discusses her expanding role from accounting to overall agency operations and IT, as well as tips for keeping family drama at bay.

Avery Moore, owner of ECI Insurance, and Scott Freiday, division director at InsurBanc, dig into the intricacies of financing an independent insurance agency.

Though it may be impossible to control the external economic environment, it is possible to control whether or not your agency grows—and if that growth contributes to the top or bottom line.

At some point, agenices will hit a wall. However, agency entrepreneurs can structure an equity partnership to meet their goals, continue to grow and remain autonomous.

Aitken Meyer is the third generation to work at the agency, but originally, “I wanted to do my own thing,” she says. Eventually, there was an accounting opportunity at the family agency, which grew into an operations role.