With two weeks to go for this short, 30 day session of the General Assembly, I thought I might share some thoughts, observations and concerns about this particular session. I am writing this on February 2, so I could very well be proven wrong on my current expectation: I believe the legislators will finish their “business” of the General Assembly, but I don’t see how they can complete their budget work. That may require the Governor calling for a special session. 

Thinking like a potential buyer can be uncomfortable under “normal” circumstances. We are definitely not in a normal world right now, so our concept of business value has changed. Yet, potential buyers still look at a business as a function of cash flows and risk.

The ongoing impact of COVID-19 provides many challenges for business leaders trying to increase the value of their agency. One key aspect is the impact on the agency team, and how engaged they are.

Employee engagement is a significant challenge as we approach the one-year anniversary of the outbreak of COVID-19. Engagement impacts many business metrics, including client satisfaction, productivity and profitability. While challenging in remote work situations, keeping the team engaged has a big impact on agency value.

New questions to consider: What actions can you take to keep your key team members engaged? What opportunities are there to increase the capabilities of your team? What recognition and feedback?

Next steps: Create an action plan to strengthen your team engagement in the weeks ahead. A more engaged team results in a more valuable agency.

Check out the new Trusted Choice video that highlights the incredible member benefits Trusted Choice offers Big I members – including some great agent testimonials! 

Between January 1, 2017, and January 1, 2021, a free service provided by life insurance companies has helped 2,996 Virginia residents recover $37,338,096 pledged to them as beneficiaries of life insurance policies and annuity contracts. The State Corporation Commission’s (SCC) Bureau of Insurance encourages any Virginian looking for lost or misplaced life insurance policies or annuity contracts (whether issued in Virginia or elsewhere) to take advantage of the free Life Insurance Policy Locator, which is offered through the National Association of Insurance Commissioners (NAIC).

The Virginia Workers’ Compensation Commission announces the appointment of Lorraine “Lori” D’Angelo as Ombudsman of the Commission. D’Angelo will serve as an independent educational and outreach resource for unrepresented injured workers, employers and others seeking information about Virginia’s workers' compensation system.

DRIVE SMART Virginia urges you to remind your community and clients that staying safe on the road is the best gift they can give to their friends and family. Use their graphics on your social media and in emails, or print and post them to spread this important message.

 

Buckling up is the best way to keep friends, family and loved ones safe. A properly used seat belt is your best defense against a drunk, drugged, drowsy or distracted driver! Our "Love Clicks" campaign is an easy way to help your community remember the importance of seat belts.

 

Download the "Love Clicks" messages using the link below!

Muriel Bowser signed the Ban on Non-Compete Agreements Amendment Act of 2020 (the “Act”) into law, moving the District one step closer to implementing one of the broadest, if not the broadest, bans on non-competition agreements in the country. There is little to no chance that this will not pass the 30-day Congressional review period.
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There’s a hidden danger tied to the COVID-19 pandemic that many people won’t even recognize until it’s too late. It has to do with being behind the wheel of a vehicle that has not been driven as often as usual because you’re working from home, or social distancing and not going out often. A year of not driving like normal begs the question: Is your car safe?

Accredited Customer Service Representative (ACSR)
ACSR is the premier designation for all agency professionals who interact with customers on a regular basis.  This designation offers you the chance to narrow your focus on a specific area personal lines, commercial lines, and/or life & health.  Additionally, there are no annual dues and no annual update is required. The ACSR designation can help you increase product knowledge, improve selling and account rounding skills, enhance your productivity and confidence, as well as achieve higher levels of professionalism and customer service.

 

Acredited Advisor in Insurance (AAI)
With in-depth insurance product knowledge and a strong focus on customer service skills, AAI is the premier designation for all agency professionals.  Additionally, there are no annual dues and no annual update is required. The AAI designation can help you increase commissions, avoid E&O claims, earn CE credits, and increase your insurance knowledge.

 

Applied Systems (“Applied”) announced that it has entered into a definitive agreement to acquire EZLynx, a pioneer in real-time comparative rating and one of the fastest growing agency management systems in the U.S. This complementary acquisition will expand Applied’s portfolio of agency management and rating technologies to drive automation for agencies large to small while also increasing connectivity across the distribution channel to create greater value for all stakeholders.

Just 30 minutes will help you take your customer data to a new level! 

 

 

This is a great opportunity to learn new ways to increase retention and customer satisfaction by using agency data to understand customer needs.

 

Ron Berg, executive director of ACT, and Ido Deutsch, head of growth at Agentero, will lead a fast-paced, information-packed half hour with tips to use basic agency customer information in strategic, effective ways that will allow members to grow their agencies.

In a year of unprecedented need, Harford Mutual Insurance Group announced it donated over $500,000 to more than 70 charitable organizations in 2020.