| Best Practices continues to provide tools and resources to help agents increase their agency value and better serve their clients, community and carrier partners. The annual research provides unique insight into what the best agencies are doing to succeed in a changing marketplace, guiding agency principals in developing their own agency growth strategy. The 2016 Best Practices Study was redesigned to be more user friendly, especially when comparing results across different segments and revenue categories. On January 11, 2017 insurance carrier partner representatives and agent members convened for the Council for Best Practices meeting to continue planning on behalf of the program. The meeting minutes are available and include links to PowerPoint presentations shared onsite. Here are the key topics the council discussed: - Industry Research: The group reviewed highlights from the 2016 Agency Universe Study along with context on what the results mean to the industry. The report noted the number of independent agents in the U.S. and the fluctuation taking place, agency size breakdowns, social media use, ownership development and findings on the level of awareness of the Best Practices program.
- Talent Recruitment and Development: The member-only online resource area is designed to help Big "I" members hire and develop top-talent. Carrier partners are invited to share their information to include on the site as it is further developed.
- Update and Idea Exchange: Representatives from EMC, Central Insurance, Applied Systems and Markel shared updates on their internal Best Practices activities. The group also discussed how other organizations incorporate Best Practices into their planning, agent events, internal training, Best Practices Agency recognition efforts and more.
- Agent Development Snapshots: Managers from the Big "I" agent development team shared updates on Agents Council for Technology, InVEST, Young Agents, Diversity and Big "I" Virtual University programs. The work of these programs support the goal of Best Practices to create well-rounded, well-run agencies that have the potential to reach Best Practices agency status.
- Best Practices Outreach: The group reviewed marketing efforts website analytics and initiatives to generate additional interest in the program. Attendees also discussed attendance for the 2016 Best Practices for Agency Operations webinar series and brainstormed potential topics for the 2017 sessions.
- Update from Reagan Consulting: Tom Doran from Reagan Consulting introduced Paula Williams, Reagan's new research director, and reaffirmed Reagan's commitment to the Best Practices program. Doran provided a report on the history of the program, highlights from the current report and a summary of how agencies can use the information. . Williams noted the timeframe for the new study and future enhancements geared toward releasing the study earlier in the year and along with plans to conduct quarterly calls with study sponsors.
In the coming months, the Big "I" and Reagan Consulting will announce the dates, times and final topics for the 2017 Best Practices for Agency Operations webinar series, distribute new Best Practices agent testimonial videos, plan and deliver a marketing campaign focused on the formulas found in the annual report, release the 2017 Update and present the 2017 Best Practices Awards of Excellence.
To learn how your company can participate on the Council for Best Practices or for other Best Practices questions, contact Jennifer Becker, director of education programs. |