Oregon Agent | Q2 2024 Magazine

OREGON AGENT Q2 2024

DRIVES FOR DREAMS

2024

April 18, 2024 Hosted By Big I Oregon NextGen

Benefitting Make-A-Wish Oregon

CONTENTS JOIN US AT DRIVES FOR DREAMS

Big I Oregon PO Box 68366 Portland, OR 97268 Phone: 503-274-4000 Fax: 503-274-0062 Toll Free: 866-774-4226

Big I Oregon Staff Tyra Dressel | Executive Director tyra@bigioregon.com Christine Muduryan | Member Engagement Director christine@bigioregon.com Lyra Roberts | Agency E&O Senior Account Executive oregoneoteam@bigioregon.com Melissa Reed | Director of Agency E&O oregoneoteam@bigioregon.com April Pitz | RLI Administrator April.Pitz@iiaba.net Roger Beyer | Big I Oregon Lobbyist roger@rwbeyer.com Jill Tieu | Bookkeeper jillt@bigioregon.com Marie Toney | Senior Account Executive (E&O/Cyber) oregoneoteam@bigioregon.com Summer Cole | AVP, Agency Incubation and Development, Big I Advantage summer.cole@iiaba.net

Drives for Dreams is just around the corner! Join Big I Oregon NextGen on April 18th as they host Drives for Dreams, benefitting Make-A-Wish Oregon.

- PAGE 15 DIRECTOR’S CORNER....................................................8 Empowering Minds and Forging Connections: Highlights from the Connect & Educate Symposium COMMERCIAL LINES......................................................12-13 Biggest Product Liability Payouts: How Agents Can Ensure Clients Have Adequate Coverage NEXTGEN..................................................................................14 What is NextGen? PERSONAL LINES............................................................16-17 E&O Risk Management Strategies to Strengthen Client Bonds in 2024 AGENCY OPERATIONS...............................................20 Do More With Less LEGISLATIVE UPDATE...............................................22-23 The Shift From Policymaking to Campaigning MARKETING......................................................................26-27 Mastering Customer Communication: Unlock Success with Email Automation E&O..........................................................................................30 Recording Phone Calls with Clients

ADVERTISER INDEX Applied Underwriters................................32 auw.com/us Berkshire Hathaway GUARD...................29 guard.com Iroquois........................................................13 iroquoisgroup.com IPFS...............................................................17 ipfs.com

Rothert Insurance......................................23 rothertinsurance.com UFG................................................................3 ufginsurance.com Western National.......................................21 wnins.com

For more information on advertising, contact info@iiaw.com.

The Oregon Agent is a publication of the Independent Insurance Agents and Brokers of Oregon and is published quarterly by Independent Insurance Agents of Wisconsin. Big I Oregon reserves the right in its sole discretion to reject advertising that does not meet Big I Oregon qualifications or which may detract from its business, professional or ethical standards. Big I Oregon and IIAW do not necessarily endorse any of the companies advertising in the publication or the views of its writers. The publisher cannot assume responsibility for claims made by advertisers, context provided by the editor, or for the opinions expressed by contributing authors.

2 | Q2 2024 |

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SURETY

Upcoming Events Big I National Legislative Conference April 10-12, Washington DC Every spring more than a thousand agents visit Capitol Hill offices to lobby members of the House, Senate and their staffs on issues that directly impact independent agents and consumers.

Drives for Dreams April 18, TopGolf, Hillsboro, OR Hosted by NextGen, this event is full of fun, networking and raising funds for Make-A-Wish Oregon. EVERYONE welcome!

Premier Partner Appreciation June 20, The Kitchen at Middleground Farms, Wilsonville, OR Time to toast you, our Premier Partners. Hosted by NextGen, we gather to express our heartfelt appreciation for your collaboration and support as Premier Partners.

INSURCON2024 August 18-20, Sunriver, OR Big I Oregon’s 95th Annual Convention. Networking, golf, exhibitor showcase, NextGen activities like cornhole tournament & trivia, education and hear from leaders in our industry & more!

Ugly Sweater Holiday Party December 5, Portland, OR Eat, Drink, Sing & Be Ugly! Connect & Give Back at this holiday tradition hosted by Big I Oregon's NextGen. EVERYONE welcome!

Risk Management Education Day October 9 Swiss Re E&O Discount Approved! Presented by Annette Ardler, CPIW, DAE, AIAM | Senior Underwriter & Risk Management Expert | Vice President | Corporate Solutions | Regions SR Corporate Solutions America Holding Corporation

For detailed information, visit:

bigioregon.com

4 | Q2 2024 |

RETIREMENT SERVICES.

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When compared to a 401(k) Plan, a Simple IRA is an easy to administer plan that provides the same underlying savings features of the 401(k) plan but with a streamlined design that reduces the amount of administrative efforts with no annual compliance testing or 5500 ϐiling.

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Additional beneϐit programs are available for you and your employees through the Big “I” including: The BIG I MEP 401k Plan Group life insurance

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Reach out today to see how easy peasy it can be!

Contact IIABA’s Christine Munoz at christine.munoz@iiaba.net, or visit www.independentagent.com and click on “Retirement.” | Q2 2024 | 5

Thank you for attending our

Connect & Educate Symposium

6 | Q2 2024 |

| Q2 2024 | 7

THE DIRECTOR’S CORNER

By: Tyra Dressel Executive Director of Big I Oregon

EMPOWERING MINDS AND FORGING CONNECTIONS: HIGHLIGHTS FROM THE CONNECT & EDUCATE SYMPOSIUM

As I reflect on the just-concluded annual Connect and Educate Symposium (CE Symposium), where agents gathered for 12 hours of Continuing Education and invaluable networking, the picturesque Pacific Ocean served as an extraordinary backdrop to this unique event. With close to 80 attendees, the symposium offered a dynamic platform for learning, collaboration, and relationshipbuilding.

This year’s symposium featured nine distinguished speakers covering a wide array of topics. Kristen Horlacher from Superior Underwriters skillfully moderated a panel of Managing General Agents (MGAs): Cameron Deiss of Mid-Valley General Agency, a Division of Johnson & Johnson, Mark Rothert of Rothert Insurance, and Veronica Stevens of Cochran & Company. The discussions with these MGAs unveiled a wealth of information, leaving agents with newfound insights.

Veronica Stevens, Cochrane & Company, joined by Jamison Wagner, Oregon Mutual, led engaging conversations covering fundamental topics like “Back to Basics: ‘A’ the Application” and delving into the complexities of “10 National Scandals – Insurance Dilemmas.” Her informative and entertaining session, “Insurance Jeopardy,” added a playful twist to the educational experience. Trisha Gimpel, Cochran & Company, shared her vast experience on “How to Prevent an Angry Audit” which generated many questions and lively dialogue. The day continued with a delightful cocktail reception, courtesy of BBSI, followed by dinner and a lively bonfire on the beach hosted by NextGen and Rothert Insurance.

Attendees were treated to the NextGen’s expertly crafted bonfire, along with indoor tabletop fire pits for those who preferred to stay indoors and still roast delicious s’mores, courtesy of Rothert Insurance.

On the second day, Karla Martinez from the Oregon Division of Financial Regulation/Department of Consumer & Business Services enlightened attendees on supporting Oregon consumers in disaster preparedness and recovery.

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Maggie Alvarez, also from the Oregon Division of Financial Regulation/Department of Consumer & Business Services, and Elizabeth Rose from Financial Beginnings Oregon shared ways to make a positive impact in local communities through accessible and unbiased financial education programming.

A noteworthy aspect of Financial Beginnings’ curriculum is its focus on insurance, encouraging insurance agents to volunteer in schools and community-based organizations. Darren Eversole from Imperial PFS who was joined by Jeanne Witherspoon, concluded the symposium with an insightful session on “Premium Finance Express,” exploring various ways policies can be financed for the benefit of both clients and agents. The interactive session included a friendly competition, won by Team Tiramisu (shameful plug as this was my team), showcasing the room’s competitive spirit.

Five lucky exhibitors, Kennedy Restoration, PuroClean, XPT, BELFOR, and Iroquois had the unique opportunity to exhibit in the same room all sessions and meals were held on both days. We thank them for their engagement and for those who had fun and generous giveaways!

The symposium also saw the Executive Committee and Board of Directors conducting meetings, spearheaded by President Jennie Weiland, HUB International Northwest, LLC. Small group discussions allowed for brainstorming and planning on key topics, emphasizing the proactive and engaged nature of Big I Oregon’s leadership. Board members and Gold Level and above Premier Partners were treated to a special invitation-only dinner, where Imperial PFS provided fabulous wine pairings.

Such events serve as catalysts for personal and professional growth, offering opportunities for acquiring new knowledge, forging connections, and strengthening existing relationships. As members of Big I Oregon, take pride in your leadership, individuals committed to enhancing our organization and industry. I encourage each of you to mark our various multi-day and partial one-day events on your calendar – investing time in these experiences is a decision you won’t regret.

Big I Oregon has partnered with The Institutes Agent & Broker Group for all your learning needs!

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2024 Premier Partners THANK YOU TO OUR PREMIER PARTNERS FOR THEIR CONTINUED SUPPORT!

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COMMERCIAL LINES

BIGGEST PRODUCT LIABILITY PAYOUTS: HOW AGENTS CAN ENSURE CLIENTS HAVE ADEQUATE COVERAGE By: Olivia Overman IA Content Editor When consumers are hurt or killed as a result of a problem with a product, they have legal rights under product liability law that governs these situations and dictates when and how victims can make a case for compensation.

Today, there are many well-known examples of product liability cases, from the hot coffee case against McDonald’s, said to be the most debated product liability case in American history, to the case against tobacco giant Philip Morris that resulted in the payment of $28 billion in punitive damages to lung cancer sufferer Betty Bullock of Missouri in 2002.

“Over the last 10 to 15 years there has been an explosion in product liability cases,” says Gary Grindle, executive vice president, Amwins Brokerage. “I think a lot of it has to do with social inflation where people are now just looking for someone with a deep pocket to pay when somebody’s injured irrespective of clear negligence.”

Since 2018, there have been numerous product liability cases that have resulted in the payment of billions of dollars to claimants. Some recent cases include the claim against Monsanto and Bayer in relation to the popular weed killer, Roundup, which contains cancer-causing glyphosate; Johnson & Johnson’s talc products which allegedly contain traces of toxic asbestos; and the Hoffmann-LaRoche’s acne drug Accutane, which failed to warn of possible gastrointestinal side-effects.

More recently, in November 2023, a federal judge allowed the majority of claims to move forward in litigation that asserts chemical hair relaxer products made by L’Oreal USA, Revlon and others allegedly cause cancer and other injuries.

These are just some of the high-profile, wide-ranging product liability lawsuits that are currently making 12 | Q2 2024 |

headlines because of the impact they have had on plaintiffs’ lives and the monetary amounts involved.

“These types of claims have changed the market by showing that every party in the supply chain needs to be aware of the inherent risk of a product or process as well as risks assumed contractually,” says Amy Gilmore, vice president, casualty underwriting performance for excess & surplus/specialty and commercial lines, Nationwide. “It is important to understand the reach of the product, distribution, longevity of product in the market, and potential hazard to ensure each party in the supply chain is covered adequately.”

This is evident in the recent L’Oreal USA, Revlon filing where several smaller cosmetics companies, including some based in India, are named in the lawsuits.

In the product recall world, “the Tylenol incident was essentially the seminal industry event,” says Scott Crump, assistant vice president, manufacturing and mercantile strategic business units, Selective Insurance. “While it wasn’t the largest in history, it’s still one of the largest from a dollar standpoint.”

In September 1982, Johnson & Johnson made a voluntary recall of its best-selling product, ExtraStrength Tylenol, when seven people died from taking Tylenol that was laced with cyanide. The incident cost the company between $100 and $150 million.

“There are several things to consider when ensuring adequate product liability protection for clients,” says Peter Burns, head of large and complex casualty solutions, The Hartford.

Here are four things to remember: 1) Understand the risks your clients face. “By understanding your client’s product list and where

they are manufactured, you can be prepared to defend against strict product liability and negligence, including design defects, manufacturing defects, marketing defects and improper warnings,” Burns says. “Businesses that import products may bear sole responsibility and be held accountable for safety requirements, industry or government standards, proper safety warnings and labels. Understanding the legal theories of liability can help your client know the risks they face.”

2) Review contracts clients have in place. An agent should “be aware of contractual requirements and ensure appropriate hold harmless agreements are in place so that suppliers and partners are responsible for their own negligence in the case of a claim,” Burns says.

3) Offer risk mitigation options. “Help clients document retention and a written product safety program that reflects legal requirements and creates a story of the development of the product to show evidence that a business took sufficient measures to make a product safe,” Burns explains.

4) Communicate what is coming down the pike.

In 2024, “some product liability cases that we foresee

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coming down the pike include ‘forever chemicals,’ such as perfluoroalkyl or polyfluoroalkyl substances (PFAS); societal product claims, including social media, obesity, environmental impacts, infant formula, gun manufacturers and retail sellers; and COVID-19 vaccination efficacy,” says Terry Bolin, vice president, casualty claims for excess & surplus/ specialty and commercial lines, Nationwide.

While product liability claims have primarily been related to tangible products, litigation has recently been brought in California against Meta Platforms Inc’s Instagram and Facebook, ByteDance Ltd’s TikTok and other social media platforms alleging that these sites set out to hook young users, leading to addiction and poor mental health outcomes, including eating disorders, self-harm, depression and suicidal thoughts.

“Communicating emerging issues so that insureds know what to expect and why is important,” Burns adds. “As well as helping them understand how quality control measures are critical to product accounts and help protect them.”

This article was originally featured on iamagazine.com in March 2024.

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| Q2 2024 | 13

NEXTGEN By: Angela Williams NextGen Chair Huggins Insurance

WHAT IS NEXTGEN?

2024 NextGen Committee

Angela Williams Chair Huggins Insurance

Kaity Blacksher Past Chair Atkinson Insurance Group

Lisa Cheek Secretary Waldo Insurance Agencies

Tanner Fleming Committee Member Parkside Insurance

I just had the best time at the Big I Oregon Connect & Educate Symposium in Lincoln City, and I was surprised when several people asked me, “So what is NextGen?” Oh, I’m so glad you asked.

NextGen is what was formerly called “Young Agents” and we are a part of Big I Oregon.

NextGen is focused on supporting and developing independent insurance professionals who are under 45 years of age or have less than five years of experience in the insurance industry.

We come together as the next generation of insurance professionals to grow personally, gain industry skills, network with other insurance professionals, and give back to our community.

Throughout the year, NextGen hosts several events BUT that doesn’t mean that only qualified NextGen agents can attend the event.

For example, this year, NextGen will host Drives for Dreams on Thursday, April 18, 2024, at Top Golf in Hillsboro. The Drives for Dreams event is a fundraiser for Make-A-Wish Oregon, so the committee would like to see huge attendance numbers to support this noble and worthy 14 | Q2 2024 |

Kyle Craig Vice Chair LaPorte Insurance

Dallas Ross Social Media Timmco

Kyle Brouse Committee Member Salem Insurance Agency

nonprofit organization. How does this happen?

Agencies can rent a bay for their team members.

Agents and insurance carrier representatives can sign up individually. If you want to make it a date night, invite your spouse to the event. The more participation we have at Drives for Dreams, the higher the chances we have at granting a MakeA-Wish kiddo their dream wish. So, the call to action is, please register for the Drives for Dreams event. You won’t want to miss out.

On behalf of the NextGen committee, I want to say thank you for supporting NextGen. Our goal is to help insurance professionals grow in knowledge and confidence as we conquer the insurance industry together. It is a tough market, and now more than ever, insurance professionals need each other for encouragement, advice, to share marketing ideas, and just to lean on each other to say you are not alone. If you have someone in your agency who qualifies for NextGen, I encourage you to email me at angela@huggins.com and I will personally reach out to the individual and invite them to all NextGen hosted events.

Drives for Dreams Benefitting Make-A-Wish World Wide Wish Day

Registration Registration includes food and two beverage tickets per person: • Includes $20 donation to Make-a-Wish Oregon

OR BUY A BAY: • admission & golf for 6 people • food & 2 drink tickets per person • includes $150 donation to Make-a-Wish Oregon There will also be an online auction with items ranging from experiences to wine!

APRIL 18, 2024 Top Golf 5505 NE Huffman St. Hillsboro, OR 97214

SCHEDULE: 4:30 P.M. TO 5 P.M. SOCIAL 5 P.M. TO 7 P.M. GOLF

Register today at bigioregon.com/events

PERSONAL LINES

E&O RISK MANAGEMENT STRATEGIES TO STRENGTHEN CLIENT BONDS IN 2024 Nancy Germond

Executive Director of Risk Management & Education, Big ‘I’

As agents and risk managers face a new year with continuing hard market challenges, the first quarter of 2024 is an excellent time to discuss the financial, property or operational changes with your clients that may impact their insurance coverages.

A recent survey from Trusted Choice® found that nearly 70% of Americans are currently reviewing their coverages and 45% are doing so due to rate increases. However, you can solidify your relationship with clients by helping them understand the current market and providing them the coverage they need at the price they need.

Communicating with your clients via email or letter is essential, but you can also reach out via social media campaigns. This allows you to educate clients about the hard market and how their own risk exposures can reduce liability for your clients’ organizations.

Additionally, documented outreach on problem coverage areas, such as underinsurance, can help your agency avoid an errors & omissions claim.

Crucially, at a time when agencies are feeling the squeeze from increasing operational costs due to inflation and companies cutting commissions, solidifying relationships will help retain clients and protect income.

Personal Lines Challenges With consumers experiencing steep rate increases even nonrenewals, discussing higher deductibles with your personal lines clients is a good approach, especially with high net-worth clients where assuming more risk is realistic.

However, it pays to educate your clients with a more modest property or auto portfolio about the potential benefits of a higher deductible. The benefits include a lower premium and the ability to avoid reporting a loss that may impact their renewal.

16 | Q2 2024 |

With up to 40% of E&O claims filed against personal lines policies, it’s important to frequently remind your personal lines clients of changing exposures: 1) Life events. These events include marriage, divorce, the birth or adoption of a child, or a new youthful driver in the family. When it comes to aging, consider the need for a referral to a life and health agent for disability or other coverages such as a cancer supplement.

2) Insurance-to-value ratio pressures. Home renovations, such as a kitchen remodel or the addition of another living unit, should trigger a coverage reevaluation. Agents should explore their clients’ needs for higher limits for additional living expenses with lengthier renovations given supply chain and contractor availability, as well as higher law and ordinance limits.

3) Acquisition of valuables. This includes jewelry, art or guns that may belong on a separate schedule due to limitations in the homeowners personal property coverage.

It’s best to ask the carriers to run any replacement cost estimates and insist that the insureds pick the level of coverage given the information you furnish.

However, always suggest the insured consult an appraiser or contractor for the best replacement cost estimate.

4) Operating an in-home business. This can create both general and professional liability exposures, as well as the need to insure office equipment, such as computers or other items.

5) Exploring potential rate reductions. Identify additional safeguards, such as low mileage forms on seldom-driven vehicles, burglar alarm installations, or other risk-reduction techniques that can reduce the risk and lower rates.

6) The need for higher limits. Highlight risks that can require higher liability limits or an umbrella policy for all insureds. Receiving an annual update helps to prevent negligence allegations and builds stronger ties with your insureds.

Commercial Lines Challenges For your commercial lines clients, the first quarter is a great time to examine the past year’s performance and any changes. Changes can not only create differences in payroll and sales information, which are crucial in the rating process, but can also create uninsured exposures.

Here are some key topics to clarify with your commercial clients: 1) Changes to payroll or sales data. During the pandemic, many contractors’ and vendors’ sales numbers and payroll increased dramatically.

However, as COVID-19 restrictions eased, many business owners saw reductions in these numbers, leading to an impact on premiums. As business owners face a 2023 tax season, reviewing their prior year’s financials can mean adjustments to their coverages.

2) Updating vehicles and scheduled property.

Are all schedules current, and are current values adequate to repair or replace that equipment?

The Proof is in the Documentation A vital practice for all agents is documenting these conversations. If you offer a coverage, such as additional coverage for assault & battery for a tavern, and the insured rejects that coverage, ask your insured to sign a form declining the offer. While an email of a coverage declination or rejection will help defend you if needed, it’s a best practice to obtain the insured’s signature on a form before you implement a coverage change, notify an insured about coinsurance issues, or change the policy to higher deductibles.

Agents never want to face a negligence allegation where your insured asserts that you “didn’t offer that coverage” or that they “never requested that coverage change.”

Some insurance experts suggest the market may soften slightly in 2024 in response to carriers’ rate increases to the historic market conditions. However, whether 2024 softens or, in some lines, hardens, the more you communicate with your clients, the stronger your relationship with them.

This article was originally published on iamagazine.com in February 2024.

3) Loss runs. Offer any risk management assistance based on this data. Discuss open lagging claims or provide an update on problematic or potentially over-reserved claims.

On closed claims, watch for missed subrogation opportunities, such as a non-chargeable auto accident with recovery potential.

4) Significant changes. These changes can include adding or removing a partner, venturing into new areas of products or services, such as a handyperson who now replaces roofs, or a new endeavor not covered by a general liability policy, such as offering consultations.

5) Response to increasing litigation. Remind your commercial clients of the importance of coverages they may need such as employment practices liability, pollution liability, or active assailant coverage. As society changes, business owners face increasing risks of litigation and new and improved coverages emerge to protect them.

6) Coverage limits. Review potentially problematic coverage limits, such as liability limits, business income limits and umbrella limits.

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Contact Darren Eversole | 503-957-5460 | darren.eversole@ipfs.com | Q2 2024 | 17

2024 EXECUTIVE COMMITTEE DALLAS ROSS

JENNIE WEILAND

DEBORAH MOHR

HUB International - Portland Portland, OR 23 Years

Becoming Mohr

Forest Grove, OR 28 Years

Timmco Insurance, Inc. Cornell Portland, OR 11 Years

RUSS SCHWEIKERT

President

President-Elect

Vice President

Immediate Past President

TIM CUNDARI

Finance Chair

STEPHEN SMELLEY

Ashland Insurance, Inc. Ashland, OR 30 Years

Cundari Insurance Portland, OR 29 Years

Goldfinch Consulting Beaverton, OR 37 Years

TYRA DRESSEL

Executive Director Big I Oregon Portland, OR 31 Years

National Director

bigioregon.com

2024 BOARD OF DIRECTORS

KAITY BLACKSHER NextGen Immediate Past Chair

KRISTON COLLIER

ED DAVIS

JOE EGLI

JUUL Insurance Agency North Bend, OR 26 Years

Maps Insurance Services, LLC Salem, OR 59 Years

Brown Insurance Woodburn, OR 18 Years

MICHELLE GALLARDO

CHRIS HUWALDT

CARLYE IRWIN

MPALENG “MK” KHOTHULE

The Partners Group Tigard, OR 20 Years

MarshMcLennan Agency McMinnville, OR 29 Years

k.p.d. Insurance Springfield, OR 22 Years

Agape Community Insurance Aloha, OR 12 Years

Atkinson Insurance Group Portland, OR 19 Years

LYNDSAY KOOISTRA

STEVE LACESA

TJ SULLIVAN

LaPorte Insurance Portland, OR 22 Years

Oak Tree Insurance Lake Oswego, OR 40 Years

Hagan Hamilton Insurance Solutions - Sheridan Salem, OR 27 Years

DELLAS WALDO Field-Waldo Insurance Ontario, OR 7 Years

ANGELA WILLIAMS

NextGen Chair

Huggins Insurance Salem, OR 21 Years

AGENCY OPERATIONS

DOING MORE WITH LESS Anyone in the insurance industry knows that there is a labor market crisis. The industry has long struggled to fill open positions and to attract new talent. Yet recent news from the National Association of Mutual Insurance Companies (NAMIC) predicts the unimaginable – that by 2036, half of the current insurance workforce will retire, leaving over 400,000 openings[1].

Meanwhile, the market continues to grow. According to LIMRA, life premiums in 2023 set new sales records[2], and NAIC reports a 10.3% increase in direct premiums written in the first half of 2023[3].

With increased business and decreased staff, how will your organization manage?

Fortunately, there are things you can do to improve your current staff’s performance as well as address the worker shortage.

Revamp technology. If your technology is more than five years old, it’s time to upgrade. Nothing slows work down more than outdated software and ancient hardware. Stay abreast of new technologies that can help your team be more efficient. Invest in tools and resources that make their jobs easier.

Cross-train. No matter the size of your operations, having employees who know more than one department’s tasks can help when there is sick leave, or an employee leaves the company. Every employee should know what each team member’s job entails and how their activities impact that team member.

Ramp up communication. A workforce that communicates well works better. Use every possible communication channel available – email, chat, phone, video conferencing – to ensure your team talks to each other and to your management team daily.

Review staff activity. What is each staff member’s ideal function? How much time each day are they able to devote time to that function? In many cases, staff are buried in paperwork and back-office duties, taking their attention and effort away from more customer-facing, revenue-generating activities.

Knowing what needs to be remedied is the first step to enhancing employee performance.

Engage remote help. By engaging the services of a remote worker, you can offload back-office tasks, augment current staff efforts, and reduce workloads.

WAHVE helps you augment your staff with vetted pretired professionals on a long-term contract basis. You get skilled industry veterans who bring knowledge and experience to your team. You also remove geographic boundaries by considering remote workers, which gives you the ability to find a worker who has the right skills for your organization’s needs.

Examine the size of your business. Have you taken on more business than your team can handle? Look at who is handling which accounts. Is the workload evenly distributed so that no one employee is doing the majority of the work? Are there employees who are not handling enough work? Why? Consider how shifting accounts or duties might improve the overall performance of your entire team.

The talent crisis is nowhere near over for the insurance industry. As more employees retire, asking fewer staff to complete more work is likely to result in an exodus of your best talent. Instead, rethink your current operations and find ways to make the most of your employees’ skills. And rethink how you hire.

By engaging remote workers, your organization can reduce workloads.

nice

makes you smile.

At Western National Insurance, nice is what’s guided us for over 100 years. And we’re just getting started.

Western National Insurance. The power of nice. www.wnins.com

LEGISLATIVE UPDATES

The Shift from Policymaking to Campaigning By: Roger Beyer Big I Oregon Lobbyist

The legislative session is now finished, and legislators have quickly shifted from policymaking to campaigning. As I wrote previously, many are running for higher office and more have joined that list. In addition, the Oregon Supreme Court has ruled the ten Republican Senators who had ten or more days absent from the 2023 session are not eligible to run for re-election. Six of those ten districts have elections this year so that means those seats will not have an incumbent running in them.

Before I continue about campaigns and election, I want to recap the 2024 session and report on the clarity of the crystal ball which I was relying on when I wrote my predictions for the session late last year. As I predicted, the session remained focused on three things: budget rebalance, reviewing Measure 110 and the homeless problem.

I see this as a positive development that for the first time in a decade the short session was used to refine issues and focus on emergencies. This was quite a departure from what had become a campaign and blackmail arm of any interest group which was looking to get a measure on the Fall ballot.

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By that I mean groups were bringing items to the short session telling legislators “You either pass this now or we will put a worse version on the November ballot”. In the wake of the court decision on the ten senators’ ability to run for reelection I believe the threat of a Republican walk out helped control the majority party’s appetite to bring up divisive issues. Everyone knew those ten had nothing to lose by leaving, therefore the threat had to be taken seriously.

Just to be clear, I am not saying there weren’t disagreements on issues. Just like I predicted, the opposing views about what to do about those two big issues kept the tensions high, but they were able to work together enough to pass legislation to try and tackle the problems.

Both sides will claim some victories while at the same time pointing their finger at the other side declaring “If you would have done it my way it would be better”. This is especially true for the homeless and drug issues because, in reality, nothing visually will change in either of those situations before the next election.

One place where my prediction was completely off was the issue of bringing insurance under the Unlawful Trade Practices Act (UTPA). I am, to some extent, happy to report that for the first time in the 14 years I have been representing IIABO, there were no bills dealing with this.

When they came so close last year, I thought for sure it would be back ready to be pushed through. My surprise and joy at no bill to deal with was dimmed when I discovered the reason.

An Oregon Supreme Court decision (Moody v.

Oregon Community Credit Union) on December 29th may have given the trial attorneys what they have been asking the legislature to do.

Either way, I believe they pulled back their bill because of this decision to evaluate what it means. I will let the attorneys sort this out, but I know that many insurance carriers are quite concerned about what this will mean to the industry moving forward.

Now as the primary election is just around the corner you all are likely to soon be inundated with campaign materials if you live in a district with a competitive primary election, and there are many of those this year. If not, some of the statewide or county elections can be finished now if a single candidate receives 50% plus one vote.

This is my opportunity to remind you now is the time when you can really make a difference in the legislative process. Candidates need you now, so this is the best chance to get to know them.

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Becoming acquainted on a first name basis with your legislator may provide huge dividends later if an issue you are concerned about comes before them. This can be magnified greatly if you spend some time volunteering for their campaign and/or sending them some money.

A few hours or dollars now could make all the difference next year if you become their “go to” expert on insurance producer issues. Please don’t miss this opportunity.

2024 looks like it will be a very interesting election cycle even without a Governor’s race.

Nationally, the Presidential race will likely be very competitive and, who knows, maybe Oregon will be seen as a battleground state and get some national attention for a change. The only way I see that happening is if a well-known, third-party candidate, which could split the democratic voters, is in the race. Right now, that appears likely with Robert Kennedy Jr vowing to remain in the race for the duration as an alternative to the current two-party system. No matter how this shakes out, it is a fair bet that come November 5th we will all be ready to move on from political messages and be ready for the upcoming holidays.

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MARKETING

Mastering Customer Communication: Unlock Success with Email Automation By: Joseph Cox Director of Marketing, Trusted Choice Effective communication is the cornerstone of any successful insurance agency. Email remains a powerful tool for not only educating and informing customers but also establishing loyalty and confidence.

Email can be used to help your customers better understand the value of their coverage, foster a positive relationship with you as their insurance agent, and ultimately, contribute to long-term customer retention and satisfaction.

However, keeping up with the volume of emails needed to achieve this can overwhelm an agency, which means it is crucial to leverage email automation to streamline your communications strategy. In this guide, we’ll delve into the world of email automation, exploring both the “how to” and “when to use it” aspects to help you harness its potential and drive remarkable results.

The Power of Email Automation Email automation involves sending emails to a predefined list of recipients based on certain triggers or schedules. It allows an agency to reach its audience at the right time with relevant content, nurture leads, and guide customers through the customer journey. Here’s how to get started.

Choose the Right Email System The first step in leveraging the power of this automation is selecting the right email marketing platform. Look for systems offering robust automation and sequencing capabilities. Leading platforms such as Mailchimp, HubSpot, Constant Contact and ActiveCampaign provide a range of automated features, including drip campaigns, segmentation and personalization.

If you already have invested in an agency management system, contact your provider. What do they offer for automated email? Can they provide additional guidance? What features are you not using?

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When assessing marketing automation providers, consider factors like ease of use, integration with your existing tools, scalability and customer support. Many platforms offer free trials. Test a few to see which one works best for you.

Assess Your Agency’s Needs Before diving into email automation, analyze your business goals and customer journey. Identify key touchpoints where automated emails can add value, such as welcoming new customers, guiding them through the onboarding process, re-engaging dormant leads, or nurturing prospects with educational content.

Consider creating a flowchart of your customers’ journeys to map out potential automation points.

This will help you visualize the sequence of emails and the triggers required to deliver a seamless and relevant experience.

Example: When David Anderson, owner of a small Midwest agency, analyzed data from customer engagement, he found many were dropping off after receiving a quote. To nurture these prospects, he implemented an automated drip campaign to highlight the value of working with him by providing loss control tips and the benefits of coverage options.

This led to a significant increase in quote conversions.

How to Leverage Email Automation Now that you have the foundation in place, let’s explore the practical “how to” aspects of email automation.

Segmentation One of the most impactful applications of email automation and data analytics in the insurance industry is segmentation. By categorizing customers into specific groups based on factors like age, location, coverage type and claims history, agents can tailor their communication and services to better meet the unique needs of each segment.

Example: Tina Davenport, an auto insurance agent near San Diego, segmented her customer database by commercial auto and personal auto. Business customers received a quarterly newsletter featuring fleet management tips. Personal auto customers received a monthly safe driving bulletin that included seasonal driving tips and distracted driving statistics.

This targeted approach strengthened customer relationships, improving customer retention and profitability.

Also, try at least two different subject lines for your emails. This is called “A/B testing,” which means you can send the same email but with different subject lines. Or the same subject line but with different body copy. Have some fun with this. You’ll build a knowledge base about action words or calls-toaction that perform better in generating responses.

The more you test, the more you’ll understand what works for you.

Drip Campaign A drip campaign is a series of emails sent automatically to customers or prospects at designated points over a predetermined interval of time. Use it as a strategic tool to build lasting relationships. It is highly effective for nurturing leads and guiding them through the sales funnel. The best drip campaigns contain engaging content that gradually build trust and showcase the value of your products or services.

An example drip campaign for your agency could be a four-part email series for new customers, introducing them to your brand story, sharing loyalty testimonials, offering a newsletter subscription and, finally, preparing them for their policy renewal.

Example: Peter Garcia, an independent agent from Albuquerque, New Mexico, used a drip campaign to educate his potential customers about the complexities of commercial business insurance. Over the course of a month, he sent a series of emails featuring different coverage options, case studies and success stories, leading to an increase in inquiries and policy purchases.

Personalization Not surprisingly, personalized emails with tailored recommendations and content resonate more with recipients and drive higher engagement rates.

That’s why it is important to leverage data from your customer relationship management (CRM) or agency management system to include the recipient’s name, location and past interactions with your firm.

When to Use Email Automation Email automation isn’t just about streamlining your workflow. It is about delivering timely and relevant messages to your audience. Here are some scenarios where email automation can be a game changer: Monthly Newsletter With Seasonal Updates Keep your customers informed and engaged by sending monthly newsletters with updates on your products, services or insights about your customers’ industries or personal insurance situations. Use automation to schedule these newsletters ahead

of time, ensuring consistent communication even during busy periods.

Example: Cheryl Browne and her partner, Trudi Campbell, both seasoned agents from New Orleans, send out a monthly newsletter to their customers with updates on new coverage options, safety tips and seasonal advice (like hurricane preparedness during storm season), creating an ongoing dialogue and building trust.

Sequencing Campaign for Email Sign-Ups Welcome new customers with a well-crafted series of emails that introduces them to your brand and values. The automated series should provide valuable content, showcase your services and remind customers to update their insurance policies, if applicable.

As an independent insurance agent in Davenport, Iowa, Robert Miller sends a personalized welcome to each new potential customer. The recipient receives a valuable, easy to read eBook that delves into understanding insurance terms and coverages.

Re-engagement Campaign Use email automation to re-engage prospects who haven’t interacted with your emails or bought coverage. Craft compelling messages that remind them of the value you offer and entice them to act and engage.

When Martha Walker from Wichita, Kansas, joined her family’s independent agency, she wanted to contact former customers of the agency. To do so, she initiated a series of personalized emails spotlighting the agency’s local presence and community involvement—along with an invitation to stop by their booth at the town’s Saturday farmers’ market for a chance to win a gift card supporting local businesses.

Email automation is a dynamic tool that can revolutionize your agency’s communication strategy.

By choosing the right marketing automation system, assessing your business goals and implementing effective automation techniques, you can create personalized, timely and engaging email campaigns that drive meaningful interactions with your audience.

Whether you’re sending monthly newsletters, welcoming new customers or re-engaging dormant leads, email automation empowers you to connect with your audience in a way that drives results and nurtures lasting relationships.

Take the plunge into the world of email automation and unlock the true potential of your agency’s communication strategy.

This article was originally featured on trustedchoice.com. | Q4 2023 | 27

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RECORDING PHONE CALLS WITH CLIENTS By: Mallory Cornell Swiss Re Approved Auditor, Virtual Agency Solutions In today’s digital age, where communication is often conducted over phone calls, insurance agents have increasingly turned to recording client conversations. Whether for training purposes, dispute resolution, or simply to ensure accurate documentation, capturing conversations can be a valuable tool. However, amidst the convenience of digital recordings, agents must establish a process for consistent documentation. From adhering to legal requirements to ensuring the call recording is accessible years in the future, having structured protocols in place is paramount. In this article, we delve into the importance of establishing clear procedures for which phone calls should be documented and saved in an agency management system.

First and foremost, insurance agents must operate within the bounds of applicable laws and regulations governing the recording of phone conversations.

Wisconsin is a single-party consent state; however, for a phone call recording to be admissible in a Wisconsin court or played for any third party, twoparty consent is required. Only one party must consent to the recording if you strictly intend to use phone call recordings for internal purposes. If you foresee utilizing the recording in the future to replace documentation, you should establish two-party consent for phone calls. It’s best to ensure you have a disclaimer automatically stated for inbound calls and that employees know the need to read a disclaimer on outbound calls.

• •

A sample disclaimer for inbound calls may be: “This call may be recorded for quality assurance and training purposes.”

For outbound calls, it may be: “Hello, this is

30 | Q2 2024 |

[name] calling from [agency] on a recorded line…”

Beyond the legal requirements, insurance agents should prioritize transparency and respect for their client’s privacy by having a recording disclaimer.

Once you’ve established compliance with legal requirements, it’s important to consider if and how you will store the recordings. Certain VoIP systems may integrate and automatically attach to your agency management system, but there may be exceptions. If the phone call recording isn’t automatically documented in the agency management system, it could be downloaded from the VoIP system. Many VoIP platforms only store phone call recordings for anywhere from 30 days to over one year. To document a client conversation, the call may need to be kept for longer than the phone system saves recordings.

By establishing standardized procedures for initiating, conducting, and storing recorded conversations, agents can streamline communication processes and ensure consistency in documentation.

This facilitates easier access to important information and minimizes the risk of discrepancies in client records.

While call recordings can be useful if they follow state guidelines and are consistently stored and documented, an agency must determine why they are choosing to record phone calls. It is hard to replace the value and effectiveness of a followup email to the client reviewing the conversation that was had verbally. The agency should consider what documentation they would prefer and what customer experience they are looking to deliver.

Have a question about recording phone calls or creating a process for proper documentation of the call? Don’t hesitate to reach out! Contact Mallory Cornell at mallory@iiaw.com today.

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