e-Insight - July 2020 - Non-Member

JULY 2020

INSIGHT What’s on the horizon for independent insurance agencies?

Consumer Relationships in the Digital Age Planning for Your Agency - Data is Key Facing the Digital Reality: Rising to Customer Expectations

TRUST US TO PROTECT THEIR DATA Our Cyber Liability and Data Breach Response coverage protects your customers when they’re victims of a breach, helping them regain their customers’ trust. Trust in Tomorrow.® Talk to us about protecting your customers today.

AUTO | HOME | FARM | BUSINESS

grinnellmutual.com “Trust in Tomorrow.” and “Grinnell Mutual” are registered trademarks of Grinnell Mutual Reinsurance Company. © Grinnell Mutual Reinsurance Company, 2020.

Editor & Graphic Design - Rachel Romines

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Advertising - Tami Hubbell

CONTENTS July 2020

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My One Key Sales Tip

By John Chapin

Building Consumer Relationships in the Digital Age

By Lauren Williams

Planning for Your Agency: Data is Key

By Carey Wallace

Insights for Independent Agents IIA of IL Member Benefit Added: Solution Center Moving Forward - What’s on the Horizon for Independent Insurance Agencies?

By IIA of IL Staff

Workers’ Compensation - Information You Need to Know

By Brett Gerger

Facing the Digital Reality - Rising to Customer Expectations

By Lauren Williams

Five Self-Deceptions That Hold Us Back

By John Graham

In This Issue

7 15 26

Trusted Choice

e-Insight

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IIA of IL News Classifieds

Associate News

The Independent Insurance Agents of Illinois (IIA of IL) has been providing members with a sustainable competitive advantage since 1899. info@iiaofil.org | www.iiaofil.org | (800) 628-6436 or (217) 793-6660 | Fax: (217) 793-6744

2009 • 2010 • 2011 • 2012 • 2013 2014 • 2015 • 2016 • 2017 • 2019

Insight is the official publication of the Independent Insurance Agents of Illinois (IIA of IL). The magazine is published monthly for the members of the IIA of IL, with the office located at 4360 Wabash Avenue, Springfield, Illinois 62711-7009; Consumer Website: www.ChooseIndependent.com. The IIA of IL welcomes letters discussing concerns of the insurance industry, articles, editorials, other matters of interest to the membership. The editor reserves the right to edit and select submissions for publication. Address submissions for review to Rachel Romines at rromines@iiaofil.org. For advertising information, contact Tami Hubbell at thubbell@iiaofil.org.

ADVERTISERS

Board of Directors Executive Committee

Chairman of the Board | Patrick Muldowney (312) 595-7192 | patrick.muldowney@alliant.com

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APPLIED UNDERWRITERS

President | Bill Wirth (618) 939-6368 | billw@wirthagency.com

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BERKSHIRE HATHAWAY GUARD INS. GROUP

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GRINNELL MUTUAL REINSURANCE COMPANY

President-Elect | George Daly (708) 845-3311 | george.daly@thehortongroup.com Vice President | Jay Peterson, AFIS, LUTCF (217) 935-6605 | jay@peterson.insurance Secretary/Treasurer | Bennie Jones (312) 960-6206 | bjones@rmsoa.com IIABA National Director Gregory A. Sandrock, CIC, AFIS (815) 438-3923 | gregsandrock@2cornerstone.com

Regional Directors

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IMT INSURANCE INSURANCE PROGRAM MANAGERS GROUP

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JM WILSON

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SECURA

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WEST BEND MUTUAL INSURANCE CO.

Region 1 | Lisa Lukens (618) 942-2556 | salibainsurance@gmail.com Region 2 | Joseph Heneghan (618) 639-2244 | joe.heneghan@hwcrins.com Region 3 | Christopher Leming (217) 321-3185 | cleming@troxellins.com Region 4 | Bart Hartauer, CIC (815) 223-1795 | hartauer@hartauer.com Region 5 | Nick Gunn, CIC (309) 691-1300 | nickgunn@nixonagency.com Region 6 | Thomas Evans, Jr. (779) 220-6564 | tevans@crumhalsted.com Region 7 | Neidra Crosby, CPIA, CISR (708) 597-8731 | ncrosby@insxchg.com Region 8 | Andrew Allan (773) 891-8000 | aallan@lakeviewins.com Region 9 | Ed Boltz, JD (630) 443-7300 | eboltz@crumhalsted.com Region 10 | Christopher Bassler, CLCS (847) 480-0800 | cbassler@basslerins.com At-Large Director | William Durkin (312) 629-0725 | durkinb@danielandhenry.com At-Large Director | Michael-Charles Hilson (708) 333-3378 | mhilson@gbgins.com At-Large Director | Ryan Hite (309) 688-7316 | ryan.hite@eaglerockins.com At-Large Director | Patrick Taphorn, CIC, CSRM (309) 347-2177 | ptaphorn@unland.com

Committee Chairs Budget & Finance | Bennie Jones (312) 960-6200 | bjones@rmsoa.com Education | Teresa Fleming, CIC, CISR (815) 849-5219 | tess@leffelmanassoc.com Farm Agents Council | Randy Jacobs (309) 365-3231 | rjacobs@mtco.com Government Relations | Kevin Lesch (630) 830-3232 | klesch@arachasgroup.com IIAPAC | Dustin Peterson (217) 935-6605 | dustin@peterson.insurance

IIA of Illinois Staff Director of Information and Technology Shannon Churchill - (217) 321-3004 - schurchill@iiaofil.org

Director of Government Relations Evan Manning - (217) 321-3002 - emanning@iiaofil.org

Director of Education and Agency Resources Brett Gerger - (217) 321-3006 - bgerger@iiaofil.org

Office Administrator Kristi Osmond - (217) 321-3007 - kosmond@iiaofil.org

Accounting & Admin Services Tami Hubbell - (217) 321-3016 - thubbell@iiaofil.org

Director of Communications Rachel Romines - (217) 321-3024 - rromines@iiaofil.org

Director of Human Resources, Board Admin Jennifer Jacobs - (217) 321-3013 - jjacobs@iiaofil.org

Director of Membership Services Tom Ross, CRIS, CPIA - (217) 321-3003 - tross@iiaofil.org

Sr. Vice President/Chief Financial Officer Mark Kuchar - (217) 321-3015 - mkuchar@iiaofil.org

Products & Services Administrator Janet White, CISR - (217) 321-3010 - jwhite.indep12@insuremail.net

Chief Executive Officer Phil Lackman - (217) 321-3005 - plackman@iiaofil.org

Director of Prof. Liability & Ins. Products Carol Wilson, CPIA - (217) 321-3011 - cwilson.indep12@insuremail.net

Central/Southern Marketing Representative Lori Mahorney - (217) 415-7550 - lmahorney@iiaofil.org

Planning & Coordination | Cindy K. Jackman, CIC, CISR (800) 878-9891 x8745 | cjackman@arlingtonroe.com Young Agents | Allyson Padilla (618) 393-2195 | allyson@blanksinsurance.com

Find us on Social Media

WE BELIEVE THAT ORGANIZATIONS THRIVE WHEN THEY HAVE

HAPPY, HEALTHY, PRODUCTIVE EMPLOYEES That’s why we developed In-Sight 360 to manage all health, injury and absence events with one team focused on positive outcomes.

THIS CHANGES EVERYTHING.

LEARN MORE: 888-377-5845 • IPMG.COM/IN-SIGHT

Pamper your customer’s business with a policy from West Bend.

Your customer’s business is their pride and joy. Now help them nurture it. An insurance policy from West Bend is the best way to keep it happy, healthy, and profitable.

So wrap it in the cozy warmth of the Silver Lining®.

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After receiving your report, you can schedule a free phone consultation with a Trusted Choice team member who can walk you through your results and help you determine next steps.

For more details please visit trustedchoice.com/agents orjuly email 2020 us at trusted.choice@iiaba.net

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e INSIGHT -

online journal at www.iiaofil.org/Resources/Insight

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Your A gency Facing - Data is Key Rising the Digital Re to Cus tomer ality: Expect ations

By Mary LaPorte

Agent’s questions about Errors and Omissions, and how E&O losses can be prevented.

I am an account manager in commercial lines, and we have heard that because of COVID-19, we need to be careful checking and preparing renewals.

We think we have always done a good job in the past, but can you give us an idea of some specific things we should be looking for?

Find the answer in this month’s e-Insight. july 2020

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INSIGHT | associate news Thank you to our Associate Members.

Diamond Level Members

Platinum Level

Progressive Surplus Line Association of Illinois

Gold Level AAA Insurance Arlington/Roe

Silver Level Grinnell Mutual Reinsurance Company Imperial PFS IMT Insurance

Nationwide West Bend Mutual Insurance Co.

Bronze Level A. J. Wayne & Associates AFCO Credit Corporation AMERISAFE AmWINS Brokerage of the Midwest, LLC Auto-Owners Insurance Co. Berkshire Hathaway Guard Insurance Companies Columbia Insurance Group Continental Western Group Donald Gaddis Company, Inc. Donegal Insurance Group Encompass Insurance Encova Insurance Erie Insurance Group Foremost Insurance Group Forreston Mutual Insurance Company Frankenmuth Insurance Grange Insurance Illinois Mine Subsidence Insurance Fund Illinois Public Risk Fund Indiana Farmers Insurance Insurance Program Managers Group J C Restoration J M Wilson Kemper Keystone Insurance Group, Inc. 26

insight

Liberty Mutual/Safeco Insurance Madison Mutual Insurance Company MarshBerry & Company Maximum Independent Brokerage, LLC Mercury Insurance Group MetLife Auto & Home Midwest Insurance Company miEdge PEOPLE Previsor Insurance ProAg Management Inc RT Specialty - Naperville Selective Insurance Company of America ServiceMaster DSI Society Insurance Specialty Risk of America Transcom General Agency Travelers UIG - The Agent Agency United Fire Group Universal Property & Casualty Utica National Insurance Group W. A. Schickedanz Agency, Inc./Interstate Risk Placement Western National Insurance Westfield july 2020

associate news | INSIGHT Swiss Re Launches Parametric Hail Insurance Cover

Swiss Re Corporate Solutions has announced the launch of a parametric hail insurance cover.

Known as HAIL, the new product is designed to protect companies in the United States from the financial impact of a significant hail event, such as physical damage, lost revenue due to business interruption, or significant retentions in traditional property policies.

CoreLogic, a provider of hail data in the United States, will serve as the data provider. SRCS will rely on CoreLogic hail-size metrics to determine whether a parametric policy is triggered.

Similar to other parametric solutions offered by SRCS, HAIL combines the customer location data with a payout table that outlines policy amounts for reported hail size at specified locations during an event.

When a customer has hail damage and the hail size calls for a payout under the policy, there is no need to wait for a loss evaluation. The payment is released soon thereafter.

The customer can use the money for any financial loss associated with the event.

HAIL is currently available in 11 states across the U.S.: Colorado, Illinois, Indiana, Iowa, Kansas, Minnesota, Montana, Nebraska, Oklahoma, South Dakota and Texas.

Encova Insurance Appoints Mike Keller to Board of Directors

Encova Insurance has announced the appointment of Mike Keller to their board of directors, effective Aug. 18, 2020.

Mike brings decades of executive leadership, technology and insurance expertise to their board based on his experience at Nationwide, Bank One and IBM. “Mike’s experience is unparalleled. He brings expertise and insight gleaned from leading high performing IT departments at three premier companies that will add to the strength of our board,” Board of Directors Executive Chairman Greg Burton said. “We are incredibly fortunate to welcome him to the company’s board of directors.”

“Having led the IT department of a well-respected national insurance carrier before his recent retirement, Mike’s vision, strategic guidance and wisdom of integrating multiple systems will be invaluable as Encova continues its focus on technology and the resulting customer experience being created for our independent agency partners and policyholders,” Encova President and CEO TJ Obrokta Jr. said.

“I am very excited to be joining the board of directors,” Mike Keller said. “Encova is a highly successful mutual insurance company with a talented board and leadership team, a deep commitment to their agents and policyholders, a focus on leveraging leading edge technologies, and strong midwestern values.”

IMT Insurance Matches Donations to More than 70 Local Organizations Supported by Independent Agents

IMT Insurance, a leading provider of personal and commercial insurance products in the Midwest, recently collaborated with its Independent Insurance Agents to support COVID-19 relief efforts in their communities.

Agents made donations, across six states, ranging from $250 - $1,000. Through IMT’s Month of Giving program, Agent donations were matched by IMT, dollar-for-dollar, totaling more than $37,000.

IMT hosted the Month of Giving program in reaction to the immediate need for relief. Right now, our neighbors need more help than ever. IMT Agents are generous, and the Month of Giving donation match supports a shared commitment to supporting local businesses, food banks, non-profits, and programs aimed to help relieve the stress thrust upon communities by the COVID-19 pandemic.

For a full list of participating Agents and community recipients, go to https://tinyurl.com/IMTGiving2020

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AmGUARD • EastGUARD • NorGUARD • WestGUARD

We’re here to help Agents, during this uncertain time, let us help you write new and renewal business.

As part of the Berkshire Hathaway group, we’re financially strong and ready to help.

WE OFFER: Payment flexibility Responsive claims handling Quality customer service

Commercial & Personal Lines • Apply to be an agent at www.guard.com/apply/

WE’RE LIKE BUBBLEWRAP FOR YOUR BUSINESS. BUSINESS INSURANCE THAT’S DESIGNED TO BE WORRY FREE A company is a business owner’s pride and joy. Help maximize coverage and protect it with business insurance from the Worry Free company — IMT Insurance.

Learn how you can represent IMT Insurance at imtins.com/contact.

AUTO | HOME | BUSINESS

iia of il news | INSIGHT

Education Classes View the latest information at www.iiaofil.org/education.

july

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CISR - Commercial Casualty 2 Webinar Pre-Licensing - Life & Health Virtual Class E&O Roadmap to Identity Theft Webinar Pre-Licensing - Property & Casualty Virtual Class CISR - Insuring Personal Residential Property Webinar E&O Roadmap To Homeowners Endorsements Webinar E&O Roadmap To Cyber & Privacy Insurance Part 1 Webinar Agents E&O Webinar Ethics and E&O Webinar E&O Roadmap To Policy Analysis Webinar CIC - Ruble Webinar E&O: Roadmap to Homeowners Insurance Webinar Pre-Licensing - Property & Casualty Virtual Class CISR - Personal Lines Miscellaneous Webinar CISR - Elements of Risk Management Webinar E&O: Commercial Liability Coverage Gaps Webinar Ethics - Walking a Straight Line Webinar E&O Roadmap to Personal Auto & Umbrella Webinar CISR - Agency Operations Webinar E&O Risk Management Webinar

august

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Pre-Licensing - Property & Casualty Rolling Meadows Agents E&O Webinar E&O Roadmap To Homeowners Endorsements Webinar E&O Roadmap To Cyber & Privacy Insurance Webinar CISR - Insuring Commercial Property Webinar E&O: Commercial Property Coverage Gaps Webinar Culture, Ethics, and E&O Webinar E&O Roadmap To Policy Analysis Webinar Ethical Dilemmas Webinar E&O Roadmap to Identity Theft Webinar E&O Roadmap to Personal Auto & Umbrella Webinar Pre-Licensing - Life & Health Springfield CISR - Elements of Risk Management Rolling Meadows CISR - Commercial Casualty 1 Webinar E&O: Roadmap to Personal Auto & Umbrella Webinar E&O Risk Management Webinar CIC - Insurance Company Operations Webinar Pre-Licensing - Property & Casualty Springfield CISR-Insuring Personal Auto Exposures Webinar

New Members

member agencies

(*) LGUC, LLC - Orland Park Next Step Group - Schaumburg ThreeQuote Insurance Agency, Inc. - Geneva insight

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INSIGHT | classifieds for the insurance professional by the insurance professional

AGENTS, AGENCIES, BOOKS OF BUSINESS, PRODUCERS AND ACCOUNT MANAGERS WANTED.

32. Searching for something different or a better deal? Tired of the cookie-cutter option, the one-size fits all approach in making a deal? Looking for something better suited to your immediate and future plans? Share your story with Olson.

We will help put your plans into action. You will find us nimble, direct, and great listeners. The Olson promise is to customize each deal. We are all about collaboration and being true partners. The deal must work for you before it can ever work for us. Whether for yourself, your agency, your staff or location - run your story by us. Today, tomorrow, or further down the road Olson is always ready to strike a deal and craft a winning plan with you.

Our relationship manger, Jim Sandberg and our founder’s son, Jeff, hope to hear from you, soon!

Jim Sandberg Olson Insurance Group/Norman G. Olson Company (708) 986-1115 Jim.S@Olson-Ins.com JeffOlson@Olson-Ins.com

FIELD MARKETING REPRESENTATIVE/ TERRITORY MANAGER POSITION AVAILABLE

24. Goodville Mutual has an opening for a new Field Marketing Representative in its Illinois/ Indiana territory.

The role will develop and nurture existing independent agency relationships, along with prospecting for new agency appointments. They will promote sales and marketing strategies to attain goals while supporting and complementing the efforts of other departments within the company. A work from home position, which requires managing a territory with daily travel. Come and join a productive, positive work environment with a supportive team of talented employees at Goodville Mutual!

For more details and to apply go to either our LinkedIn jobs page or Goodville Mutual Careers page on our website: www.goodville.com/aboutus/jobs/ or LinkedIn: https://bit.ly/3hIR2o2.

COMMERCIAL LINES ACCOUNT MANAGER POSITION AVAILABLE

25. The Commercial Lines Account Manager reports to the AVP of Commercial Lines. This position is responsible for assisting clients and sales executives, in all aspects of customer service and marketing by managing an assigned book of business. A full job description is availabe upon request. Dansig Inc. is an Equal Opportunity Employer.

Contact:

OPPORTUNITIES/SPACE AVAILABLE/RETAIN OWNERSHIP

13. We are a 100 year old Northbrook agency looking to discuss any mutually beneficial opportunity. Our producers, mergers, clusters and agency purchases receive 50% commissions on new and renewal business without any expenses. We can provide: office space, phones, agency management system, service renewals and changes. The companies we represent are: Badger Mutual, Employers Mutual, General Casualty, Guide One, Hartford, Kemper, Progressive, Rockford Mutual, Safeco, State Auto, Travelers and Met Life. Contact:

Nancy Solomon Martini, Miller & Schloss, Inc. (847) 291-1313 Ron@martini-miller.com

AGENCY WANTED

20. Since 2004, Central Illinois Agents Group LLC has been providing independent agents with a variety of markets with contingency opportunities. Agents have availability to several markets that they may not be able to sustain or maintain on their own. We have markets for personal, commercial, agricultural and crop insurance lines. Let us help you get to the next level.

Visit www.ciagonline.com for contact information.

AGENCY/AGENTS/PRODUCERS WANTED

02. Forest Park/Oak Park agency for over 60 years, will meet your needs by providing space, markets, marketing & sales support, automation, merging with or purchasing your agency. Perpetuation/ Succession Plans, BuySell Agreements also available. We have experienced, educated and dedicated staff for you and your clients.

Have access to our numerous companies, office services and many other resources. Retain ownership in your book with contingency. Please look closely at us- we are an agency you want to do business with! We’ve done it before, we know how- we make it easy! Visit our website at forestagency.com/agents.html, or call for a confidential discussion and a list of Agency benefits.

Dan Browne will provide an agency evaluation/appraisal at little cost to you. Please call:

Dan Browne or Cathy Hall Forest Insurance (708) 383-9000 www.forestinsured.com/mergers-acquisitions

Tina Suzewitz Dansig Insurance Risk Advisors (217) 451-9101 tinas@dansig.com

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© SECURA Insurance

CURT • Knows a skid steer from a black angus • Solid Midwest work ethic • Two decades of insurance experience

An original farm boy

Meet Curt, one of our Farm-Ag experts. He and others on his team were farm kids themselves, so they’ve got firsthand, practical knowledge about a farmer’s insurance needs. It’s the bornand-raised kind of expertise we look for in a team. And they’re supported by our caring claims group so your clients can get back to the work at hand, just like they’ve done for generations.

SECURA Farm-Ag. It’s how you grow. secura.net/farm-ag july 2020

Commercial | Personal | Farm-Ag | Specialty

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Expect big things in workers’ compensation. Most classes approved, nationwide. It pays to get a quote from Applied.® For information call (877) 234-4450 or visit auw.com. Follow us at bigdoghq.com.

©2020 Applied Underwriters, Inc. Rated A (Excellent) by AM Best. Insurance plans protected U.S. Patent No. 7,908,157.