Q&A with Betsy Tribendis, AAI, CIC

Betsy Tribendis, AAI, CIC, CPIW is president and owner of Walters Associates Inc., an IA&B member agency located in Forty Fort, PA. She is also a long-time instructor for IA&B and mentor to professionals entering the independent insurance industry.

Q. Tell us how you got your start in the insurance industry and how your career progressed.

A. Growing up, my father owned an insurance agency; however, that was not the career path I had envisioned for myself…. I was enrolled in college with a major in professional photography. I got sick and had to withdraw for the semester. The classes were sequential, so I couldn’t return to school for a full year. During that time, my dad asked me to help him out temporarily at his insurance agency. I never left…. Here I am over 50 years later!

In the beginning I mainly did filing and other clerical duties. I thought, if I’m going to be here for months before returning to school, I should learn more about the business. I went to a three-week insurance school offered by one of our carriers. By the time the class was done, I knew I wanted to stay in insurance. I ended up doing pretty much everything in the agency from bookkeeping to service and sales. As time progressed, I became a part owner, and now I’m the sole owner of the agency.

Q. Looking back on your career, what professional accomplishment(s) are you most proud of and why?

A. Earning my designations in the early 1980s really stands out to me as one of my biggest accomplishments, as my abilities at the time were underestimated by my competitors.

I remember presenting a proposal to a prospective insured. I had quoted this account with a very innovative carrier that included coverages in their package policy that no one else was doing at that time. The prospect liked the proposal and told his agent that he was going to be placing his coverage with me. His agent asked to review the quote. When he looked at my proposal, he stated I was wrong for including certain coverages and proceeded to tell him, “Betsy is a nice girl, but I don’t know how much she knows about insurance.” Honestly, that comment is what spurred me to earn my designations and earn them in a pretty quick fashion. My underwriter confirmed in writing that my proposal was accurate, which I showed to the client, and I wrote the account.

Around that time, our local Independent Insurance Agents Association started offering courses for a new designation, Accredited Advisor in Insurance (AAI). The instructor for those courses was the agent who made the comment to my client. I made sure that I received an “excellent” on my exams. The following year I completed my CIC designation and passed all five exams on my first attempt. I believe that earning these designations helped prove I was an insurance professional.

Another moment that stands out for me was when I was elected as the first woman president of our local Independent Insurance Agents Association of Wyoming Valley. Up until that time, the only position a woman had ever held was secretary. I was honored to have been elected president by my mainly male colleagues. This was a time when our local association was very active and had more than 30 member agencies.

Q. What prompted you to begin teaching insurance courses?

A. From the beginning of my insurance career, I had an interest in insurance education and thought about becoming an instructor. I was on the education committee for the Independent Insurance Agents of Pennsylvania [a precursor to IA&B], which provided education classes for the insurance industry at that time. I knew an E&O instructor who indicated that he was going to retire. I wanted to fill that role, so I took several train-the-trainer classes and became an approved instructor for the association’s E&O program. That started my teaching career.

I love being the one to help start new people in their insurance career. I try very hard to show them my passion and love for the business. I take pride in the fact that I may have played a small part in helping young insurance professionals launch their career.

Q. You’ve been an instructor for many years, so you must have some interesting stories! What’s the funniest – or most memorable – thing (that you can share!) that happened while you were teaching?

A. My most memorable class would be “the fire class” that took place in April 2024. We completed day one of our three-day class, and that night at around 2 AM the fire alarm went off in the hotel where most of the class was staying. Someone was running through the hall yelling, “This is not a drill. You need to evacuate now!” So we evacuated. Some came out in pajamas, some in shorts, others were shoeless.

As I walked around to the front of the hotel, I saw flames shooting out of a third-floor window. More fire engines showed up than I’ve seen in parades! At that point, I figured we were not going to be able to get back into the building anytime soon. I called Jess McWilliams from IA&B and told her our situation. We met up at the hotel across the street and decided that the class would have to be postponed until the following week.

The following week after the first day of class, Jess and I went out for dinner. When she brought me back to the hotel, there were fire engines at the new hotel. Everyone had been evacuated and was outside once again! This time the fire alarm was triggered by an overheated dryer. Thankfully, we were allowed back in the hotel within 45 minutes. To have two evacuations in two separate hotels for the same class was just CRAZY!

Q. As an agency owner and insurance educator, you have a unique perspective on our industry. What do you consider the biggest opportunity and threat facing the independent agency system?

A. I believe there’s an increasing demand for personalized service. The major players in the industry are using one-size-fits-all mass marketing and impersonal automation to attract customers. Pricing is all they talk about. I think there is huge opportunity for those agents who are positioned to provide personalized service.

This service starts with establishing relationships with our clients. From there we can provide customized insurance solutions. To provide personalized service, we also have to embrace technology. By doing so, agents can work more efficiently, be faster, and find better solutions for their clients. However, we must maintain that human contact. It’s essential in making the client feel valued. This is what differentiates the independent agency and promotes customer loyalty.

People today are always seeking instant gratification. One of the industry’s biggest threats plays right into this trend. There has been a marked increase in direct-to-consumer insurance providers. These companies often offer lower prices, streamlined online experiences, and policy purchase in one short, online session. We are seeing more clients taking this approach and moving away from independent agencies. In that online purchase, what they are missing is our expertise and guidance in seeing that they get the proper coverage for their individual situation. That brings us back to one of our biggest opportunities – personalized service! We need to make sure our clients understand the benefits of working with an independent agent and show how valuable our advice and services are.

Q. What advice do you have for young people – in particular, young women – who are beginning their career as an independent agent?

A. Start your insurance education early. The best agents are the most informed ones. Take the time to understand what you are really selling. Read the policy and understand it! This will build your confidence, as you need to believe in yourself.

Try to find a mentor. Don’t be afraid to ask questions. Establish relationships with your underwriters. If you put the work in, success will follow.

Q. When you’re not working, how do you enjoy spending your time?

A. I really enjoy spending time with my family and going to sporting events, especially those of my grandkids. I love having dinner with friends, quiet time reading on the porch, and watching a good movie with my husband, Mike, and dog, Dozer, sitting by my side.