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Best Practices Symposium Offers Strategies on Increasing Growth Rates and Profits



BEST PRACTICES SYMPOSIUM OFFERS Strategies

ON INCREASING GROWTH RATES AND PROFITS

Gaining a Competitive Edge Also Among Topics for OrlandoSymposium

 

ALEXANDRIA, VA, July 20—Increasing profits, maintaining revenue growth in a challenging market, and sustaining a competitive advantage are the focal points of workshops at the upcoming Best Practices Business Symposium.

 

The symposium, conducted by the Independent Insurance Agents & Brokers of America (the Big “I”), will be held Oct. 10 and 11 in conjunction with the Big “I” Convention in Orlando, Fla. The workshops are based on the concepts of the Big “I” Best Practices program, which reveals the business practices of the most successful agencies and brokerage firms in the country.

 

Increasing profits, a critical goal for all agencies and brokerages firms, will be discussed during the “Profit Strategies,” workshop Oct. 11. This workshop will help attendees identify multiple strategies for building long-term profitability.

 

“All agencies want to be profitable; however, there’s more to increasing profitability than just reducing expenses,” says Madelyn Flannagan, Big "I" vice president of education and research. “This workshop will teach agents and brokers proven profit-building strategies that are employed by Best Practices agencies and firms.”

 

Additionally, participants can learn how to increase and maintain agency revenues during the “Revenue Growth Strategies” workshop, which also will be held Oct. 11. During this workshop, attendees will learn what growth goals are realistic and explore the key tactics that Best Practices firms use to reach their growth goals.

 

“The market is changing and agents and brokers should be prepared with a strategy to maintain growth as the hard market subsides and profit margins begin to level out,” says Flannagan.

 

Also on Oct. 11, symposium attendees can attend the “Sustaining a Competitive Advantage” workshop. Why do some agencies have an edge over others? This workshop will answer that question and many others by exploring the factors that allow Best Practices agencies to maintain an edge over their competition.

 

“The great thing about all these workshops is that attendees can learn what top agencies are doing to remain industry leaders, allowing attendees to implement these strategies in their own agencies,” explains Flannagan.

 

These sessions are just three of the many informative events taking place at the symposium, an intensive program of group events, networking opportunities and informative workshops that will give agency owners and their management staff the tools and expertise necessary to attain their business and sales goals.

 

Independent agency owners and managers, brokers, carrier representatives, and insurance agency business partners are encouraged to attend the Best Practices Business Symposium, which kicks off Oct. 10 with the presentation of the 2004 Best Practices Awards. Additionally, the opening session also will feature a “state-of-the-industry” report and a networking event for symposium attendees.

 

In addition to these sessions, other workshop topics will include:

 

  • How to Become a Best Practices Agency
  • Maximizing Agency Valuations
  • Mergers & Acquisitions
  • Incentive Compensation
  • Employee Benefits
  • Employee Strategies
  • Perpetuation Strategies
  • Banks in Insurance
  • Technology Strategies
  • Branding

 

As an added benefit, symposium attendees can participate in the Big “I” Convention, the industry’s largest gathering of independent agents and brokers and home to the industry’s biggest trade show.

 

The convention, which takes place Oct. 9 through 12, and the Best Practices Business Symposium, fall on the three-day Columbus Day holiday weekend.

 

The 2004 Big “I” Convention delivers everything that’s important to independent agencies and brokerage firms. The event will feature new technology, markets news, sales training, continuing-education courses, top-level networking, agency branding tips, mergers and acquisitions counsel, updates on insurance regulation and tax issues, as well as agency management and personnel advice. To get answers to pressing agency management, sales and marketing questions, Orlando is where agents and brokers need to be this October.

 

Additionally, the event allows agents and brokers with pre-school and school-aged children to mix business with a mini-vacation that offers children of all ages opportunities for family fun and relaxation. The convention hotel—the Walt Disney World Swan and Dolphin Hotel—is located on the Disney World property and is minutes from Epcot Center, the Magic Kingdom, Disney golf courses and many other fabulous family attractions in the Orlando area.

 

Agents and brokers also can register to attend the Young Agents Sales & Leadership Conference, which will be held in conjunction with the symposium and convention. The conference, which will be held Oct. 8 through 10, features sessions exclusively targeted toward young agents, such as sales training and skills sessions.

 

Register online for these events or download registration materials by visiting www.independentagent.com and clicking on the “Events and Conferences” link.

 

For more information about the convention and the Young Agents Sales & Leadership Conference, contact the Big “I” Meetings Department at (800) 221-7917.  For more information about the Best Practices program, visit www.independentagent.com and click on “Best Practices.”

 

Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.

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