Your support has played a pivotal role in shaping the success of Trusted Choice® independent agents, and we look forward to your continued partnership in 2024. As the year unwinds, we have a lot to reflect on—continued success in the distribution channel despite the challenging market, legislative victories and countless resources that have helped independent agents work smarter and elevate how they serve clients and work with carrier partners. Here are a few wins we'd like to celebrate and thank you for supporting.
1. Hard Market Toolkit: In 2023, Trusted Choice, the national brand for independent agents, launched the Hard Market Toolkit. These resources help agents navigate the hard market with advice, scripts, and strategies to efficiently cultivate client relationships to help keep customers informed on their coverage. More than 9500 agents have accessed the toolkit since its initial publication in July.
Beyond helping agents navigate the tough market, Trusted Choice is focusing on consumers as well. Recently, the brand released a new national survey on policyholders' uncertainty and behaviors in the hard market and encouraged consumers to take an active role in safeguarding their financial well-being by staying in touch with their agents, asking questions to assess their current coverage, and inquiring about current market dynamics.
This study will be the first phase of a year-long, consumer-focused campaign to elevate awareness of Trusted Choice independent agents in the consumer marketplace. This multi-faceted effort will target national, consumer, personal finance and relevant local media and will offer guidance for policyholders on optimizing their insurance coverage in the difficult insurance climate and making informed decisions aligned with their unique needs and financial goals.
2. Top-tier IA Research: When it comes to understanding your distribution force, the Big “I" has a one-of-a-kind advantage. Our research includes the Best Practices Study, a three-year deep dive into the top agencies in the country by revenue category, and our annual study updates. This data is used to create content and resources to help your distribution channel thrive.
Additionally, we take the most authoritative look at the IA channel every two years with the Agency Universe Study—analyzing trends and opportunities that provide direction on how, together, we can best support independent agents. And our annual Big “I" Market Share Report is a sought-after industry resource that tracks the penetration of the independent agent distribution force and how and where it's evolving.
3. Inclusive Agency Training Series: The Big “I" Diversity Council's virtual training took off in 2023. The on-demand session now includes a live virtual cohort program where participants work through the four-part series together. It also offers go-at-your-own pace online sessions that agents and company staff can complete individually. The series incorporates modules on building awareness through diversity, the business case for inclusion, understanding blind spots and microagressions, and developing an inclusive workplace. The council will also host two roundtables at the 2024 Big “I" Legislative Conference. Registration will open in January—stay tuned. Learn more.
4. Legislative Wins: A successful year of legislative advocacy was capped off earlier this month with Charles Symington, Big “I" president & CEO, once again being named one of the top lobbyists in Washington, D.C., by The Hill, a renowned political newspaper. As in previous years, the Big “I" was the only property & casualty insurance agent or broker group to make the list, which speaks to the association's prominence and influence on Capitol Hill.
Most recently, the Big “I" government affairs team has been focused on issues surrounding the hard market, working to bring all stakeholders together in the public policy realm and providing testimony for a hearing in the U.S. House Financial Services Subcommittee on Housing and Insurance.
Other work this year included successful advocacy for the extension of the National Flood Insurance Program (NFIP) to avoid a lapse. Additionally, through legislation and regulation, the Big “I" legislative team was also able to gain separate and exclusive exemptions for independent agencies from onerous and burdensome reporting in the areas of “beneficial ownership" financial information and data collection for premium finance transactions.
5. Agency Nation Radio Podcast: The First 100 Days at the Helm with Charles Symington, Big "I" President & CEO: Catch up on a candid conversation with new Big “I" president & CEO Charles Symington. On this episode, Symington shares his history, current goings-on at the Big “I," and a glimpse into the future of the independent agency system and how the Big “I" plans to support your distribution force. Listen on all major streaming platforms here.
Thank you for your continued support of the Big "I." We look forward to working together in 2024 to continue to support and elevate Trusted Choice independent agents.