IAN - Newsletter Issue #1 2022

NEWSLETTER Issue #1 2022

Year in Review -

IAN continued the work of building a first class Network Organization by focusing on building out Carrier Affiliations and InsurTech Vendor Partnerships enabling our Associates to BUILD and GROW their Agencies and SUCCEED. IAN now qualifies to receive Profit Share from 20 of our Preferred Carriers as a result of increasing our total Aggregated Premium Volume by more than 40% in 2021.

IAN Updates In This Issue

Carrier Relationships Finalized • National Partnership with Kemper, Kemper Specialty, Progressive and Travelers.

• Regional Partnership with Oregon Mutual and Grange Association.

• Partnership with Cowbell Cyber, Wingman Cyber and Amalgamated Risk Services.

• Partnership with Burns & Wilcox, Hull & Company and Risk Placement Services.

Carrier Relationships in Process • National Partnership with Allsate, Foremost and Haggerty.

• Regional partnership with Acuity, Mercury, Mutual of Enumclaw and Westfield.

• Partnership with Hiscox, Hanover and Philadelphia.

• Partnership with Arrowhead, RT Specialty, CRC Swett and Nationwide Brokerage Solutions.

Profit Share Payments • Received from 12 different Carriers, 2 more than 2020.

• Averaged 3.44% which is a 9.60% increase from 2020.

• Year In review • IAN Updates • Annual Meeting • New Associates • Referral Program • Progressive Program • Safeco Book Transfer • Liberty Incentives • Carrier Highlight • Contact Info

IAN Annual Member Meeting April 20, 2022 Time and Agenda to Follow NOTE: Due to Covid19 and Travel Restrictions this will be a Virtual Meeting.

IAN Referral Program Refer another Agency to IAN and receive a $500 Credit towards your next month Association Fees upon them joining IAN.

VISION: 1. Expand and grow as an IAN core carrier by delivering an exclusive product offering.

2. Reward IAN Associates with increased compensation and exclusive benefits.

3. Provide IAN Associates with tools, resources, and support to successfully write Progressive bundles.

Benefits • • • •

Property Suite Platinum Endorsement Annual Policies Fast Pass to Agency Servicing • Unlimited CE Courses

Bundle Commission • Enhanced Bundle Commission 15/12

Bonus • Personal Lines Performance Bonus AUTO COMMISSION SCHEDULE PERONAL AUTO BUNDLE (HOME/CONO)

VISION: 1. Help Associates expand their business with improved carrier access.

2. Provide Associates tools and services to service customers and prospects.

3. Succeed by forming an insurance organization that can support and grow, while maintaining 'preferred" carrier relationships.

New Bundle

15%

Renewal

12%

MONOLONE PERSONAL AUTO Safe Driver + Homeowner POP

14/10

Proof of Prior Auto Insurance

12/10

No Proof of Prior Auto Insurance

12/10

Contact Craig Phair for additional details

Safeco recently launched a national campaign to pursue book transfers of Personal Lines business. Transfers include “book thinnings” (e.g. moving 20-30%) of a book of business. Campaign Components include book transfer support, price matching (where available), quoting options and best-in-class tools for client communication and transfer execution.

Eligibility: Transfers to Safeco started between 12/14/21 and 12/31/22.

Commitment Date: Individual agency/members must commit to a transfer by 3/31/22.

Transfer Start Dates: Start immediately or on a future date, based on agency preference.

Agent Level Compensation

Campaign Highlights: • Commission override up to 15% based on the book 3yr loss ratio and the transfer type selected.

• Conversion bonus up to 4% if the agency achieves book transfer new business written premium (NBWP) thresholds.

• For agent-issued transfers, producers and CSRs can also earn Safeco Instant Incentives for book transfer policies • Transfers can be set-up to run for 12, 18 or 24 months as requested by the agency.

Contact Mike Haller for additional details

Express Success in the Northwest!

• High Success classes from 2021 • Over 100 opportunities quoted per class and over 50 opportunities written in each class Liberty Mutual experienced similar success in all their regions and are offering increased compensation ranging from 5% to 10% for book remarketing efforts or book transfers.

IAN had a tremendous 2021 with Liberty Mutual. As a result IAN has a guaranteed base rate of 4.22% for 2022 Profit Share plus the Growth Factor. IAN’s Final Rate should be between 4.22% and 6.33%.

Quote Liberty Mutual!

Book Transfer Overrride Book Transfer Type Agent Book Hybrid Plus & 3yr Loss Ratio Assumptive Agent <= 50% 15% 12% <= 55% 15% 10% <= 60% 10% 7% <= 65% 7% 5% <= 66% 5% 5%

Plus Book Transfer Conversion Bonus Book Transfer NBWP Threshold NBWP Bonus $250,000 1% $500,000 2% $1,000,000 4%

Class of Business

Hit Rate

(6512) - Operators of Nonresidential Buildings (1751) - Carpentry Work (7349) - Building Cleaning and Maintenance Services, NOC (0782) - Lawn and Garden Services (1721) - Painting and Paper Hanging (1794) - Excavation Work (7231) - Beauty Shops (7538) - General Automotive Repair Shops (8049) - Offices and Clinics of Health Practitioners, NOC (1731) - Electrical Work (1742) - Plastering, Drywall, Acoustical, and Insulation Work (1752) - Floor Laying and Other Floor Work, NOC (4225) - General Warehousing and Storage (1771) - Concrete Work (1743) - Terrazzo, Tile, Marble, and Mosaic Work (5411) - Grocery Stores (8111) - Legal Services (7221) - Photographic Studios, Portrait (5651) - Family Clothing Stores (5947) - Gift, Novelty, and Souvenir Shops (7241) - Barber Shops (8713) - Surveying Services (5945) - Hobby, Toy, and Game Shops

39% 38% 48% 43% 44% 40% 53% 38% 42% 42% 58% 41% 45% 38% 48% 40% 51% 46% 46% 48% 49% 56% 46%

BEST SMALL BUSINESS INSURANCE Chosen as the best overall for Small Business Insurance in 2021. The Hartford has a long-standing reputation as a top insurance carrier, with "A+" ratings from AM Best and Standard & Poor’s. These ratings exemplify financial stability. The Hartford has been around since 1810, when it first launched as a fire insurance company. In 1983, they introduced a small business service center, highlighting its devotion to small-to-midsize businesses.

The Hartford’s business coverage includes: • Workers’ Compensation • Commercial Property Insurance • General Liability • Business Income Insurance • Business Auto Insurance • Errors & Omissions (E&O) • Cyber Insurance (to cover data breaches) The company’s excellent ratings, business longevity, lightning-fast online quote process, and extensive insurance lines place it at the top of our list of best Small Business Insurance companies.

Contact Information Mike Haller Chief Administration Officer – CAO mhaller@insuranceagencynetwork.com AIDCO – Hall of Fame Member

Office: (425) 553-1509 Cell: (425) 681-0996 Fax: (425) 868-2411

Eric Granberg Chief Operating Officer – COO egranberg@insuranceagencynetwork.com

Office: (425) 448-9191 Cell: (206) 300-5714 Fax: (425) 868-2411

Craig Phair Sr Vice President – Associate Development craig@insuranceagencynetwork.com

Office: (425) 448-9190 Cell: (541) 891-9551 Fax: (425) 868-2411

Laurie Schuster Director of Operations and Finance lschuster@insuranceagencynetwork.com

Office: (425) 836-6372 Cell: (425) 852-5052 Fax: (425) 868-2411

P O Box 2393 Redmond, WA 98073 www.insuranceagencynetwork.com