Insurance Business America issue 3.05

Page 51

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Insurance Business America is the independent voice for the insurance industry, encompassing news analysis, expert opinion, exclusive interviews and business strategy advice for today’s sophisticated insurance brokers, agents and advice professionals.

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about to and brokers is ates rance agents stig The world of insurm. Insurance Business inve ld g wor sfo tran ngin ly cha a ical in rad ve d to do to thri Casualty of Property and what you nee The Evolution of the Future:

saying ution. the Agency are g today is not Insurance Distrib WHA Insurance agents are playin Producers at ago, specifically “The role that comfort zones. ding 20 to 30 years an, goodbye to their e, Ore., is expan they played ,” says Rob Hartm based in Eugen ping role on and pricing The agency, lines and develo in risk selecti commercial those lines: the report. line of its focus on co-author of lization within on the front be for specia to of buses, used undernew areas for taxis and “The agent of a policy, had n insurance transportatio riting and pricing tions of homes, knew very underw ity, did inspec Hartman. example. agents who were writing author business,” says , we have had stayed the rically they knew “Histo given that lization and the customer, for that today, areas of specia technology used to their ’s a lot less need singly in small information y 50 “There Vince Ada, lines—and increa to more of a there,” says ys approximatel all personal g which emplo s are movin in what in the task is director at WHA, ercial—carrier sit comfortably model, where You comm you can’t just or eight years. people. “But ox underwriting application and answer five black-b last the in an tely fill out you have done ries.” ss or 10 to 20 yees to accura multiple indust about the busine drive have to learn additional emplo 60 questions and how you the 50 to ly hired eight you and the car WHA recent that will help questions about technologies ers. enting are and is implem that’s it.” vely with custom by carriers t more effecti efforts it—and hannel or direct sales company interac up its marketing Multic insurance, which also stepping y, and auto ing commercial The agency is increasing steadil of premiums, is becom in personal and sales ncy. grow are also for 70% boost efficie in order to measures to says. Carriers is accounts d, Hartman matic of what lines, and is taking the industry commoditize ence is emble sively, with ze insurance ising. more aggres WHA’s experi small and mid-si US. Many marketing a year on advert are many $6bn at than happening carriers ng more across the ms were brokerages riven, spendi y personal auto, of all P&C premiu ndent lines, notabl agencies and nt, technology-d some s. In efficie more and broker written by indepe specialized. They competing with agents are becoming ercial lines and ting. agents 2013 2013, focused on comm new approaches to marke Share Report Source: Market ping pendent Insurance T CHANNEL are also develo able hole in A.M. Best/Inde little choice. Brokers of America the THE DIREC have punched a notice larger Agents & They may have economics of sales is growing signs that the unravel,” Direct al auto, and the hole to ing “There are model are beginn report, Agents person 2013 | 11 traditional agent ER/DECEMBER sey & Co. NOVEMB McKin a recent according to

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2013

• In-depth analysis of the latest issues affecting insurance brokers and agents • Expert columnists addressing aspects that impact your business • Exclusive interviews with the industry’s most important players • Our own rundowns of America’s best brokerages and insurers • Analysis of insurance industry reports and research findings • The latest changes in insurance legislation and what you need to do next • Industry photography of the key figureheads and insurance events

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