Primary Agent - August 2021

AUGUST 2021

ALEXIS BURNS FOURTH GENERATION AGENCY OWNER

ALSO INSIDE EXCLUSIVE MEMBER MAGAZINE

AGENCY PERPETUATION REMOTE ONBOARDING

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AU G US T 2021

CONTENTS FEATURED 8

Q&A WITH ALEXIS BURNS IA&B Member Alexis Burns talks about becoming a fourth-generation agency owner and working alongside her father and grandfather.

> > > > 13 17 JOIN US ON SOCIAL MEDIA: Facebook.com/IABforME LinkedIn.com/company/IA_and_B Twitter.com/IA_and_B YouTube.com IA&B is the premier resource and champion for independent insurance agents in Pennsylvania, Maryland, and Delaware.

Periodical postage paid at Mechanicsburg, PA and at additional mailing offices. Postmaster: Send address changes to Insurance Agents & Brokers, 5050 Ritter Road, Mechanicsburg, PA 17055.

Primary Agent (ISSN 1543-3110), Permit # 638-620, Issue # 2021-08, is published monthly by IA&B Service Group Inc., a subsidiary of IA&B. Copyright 2021. All rights reserved. No material may be reproduced in whole or in part without written consent of the publisher. The information in this publication is general in nature and not intended to serve as legal, accounting, financial, insurance, investment advisory or other professional advice as to any reader’s particular situation. Users are encouraged to consult with competent legal, financial, insurance, investment advisory and/or other professional advisors concerning specific matters before making any decisions. We disclaim any responsibility for any decisions or actions by readers. Statements of fact and opinion in Primary Agent are the responsibility of the authors alone and do not imply an opinion on the part of the officers or the members of IA&B. Participation in IA&B events, activities and/or publications is available on a non-discriminatory basis and does not reflect IA&B endorsement of the products and/or services.

AGENCY PERPETUATION Agency perpetuation expert Brian Burke offers insight into valuation trends and projects what’s to come in the world of agency deals.

REMOTE ONBOARDING Hear from the founder of a fully remote insurance organization – Sharon Emek, of Work At Home Vintage Experts – about lessons learned in onboarding new employees.

MONTHLY 2

CHAIR OF THE BOARD’S MESSAGE

3

DON'S DISCUSSION

4

COVERAGE CORNER

6

NEWS & NOTES

20

WELCOME NEW MEMBERS

21

UPCOMING LIVE WEBINARS

IABforME.com |

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CHAIR OF THE BOARD’S MESSAGE

SIGNING OFF, MY FINAL CHAIRMAN'S MESSAGE No matter your political persuasion, I think we can all agree that, financially, these are unprecedented times. Following governmentmandated shutdowns, mass layoffs, stimulus money infusions, and global supply chain disruptions, the economy is in a strange place. And while normalcy looks to be returning, there are “new normals” with uncertainty prevailing as an undercurrent to almost all decisions we make.

Meanwhile, many in the independent agent community are waiting to see if – and how – these topsy-turvy days will impact agency valuations. The feature article on page 13 delves into the trends and forecasts what may be ahead for agency deals. Yet through it all, the independent agency business model remains a solid investment.

Perhaps that’s never been clearer than in economically uncertain times. No matter where you are in the industry – preparing to perpetuate, eyeing ownership, or simply supporting an agency’s bottom line – may you have successful months ahead.

On a personal note: August will complete my final month as IA&B Service Group Chairman, as well as a 10-year run as part of the IA&B Board. The people I have served with are outstanding! I have learned much from each of them. Some are principals of large, highly sophisticated agencies; while others are owners of small and midsize agencies. Regardless, they deal with HR, technology systems, comparative raters, specialized markets, regulatory compliance, multi-faceted product offerings, carrier relations, risk management, etc. on varying scales. To all of them, I say “thank you” for letting me see what true professionalism looks like.

Four years ago, I was surprised and humbled when several of my IA&B Board peers supported me for leadership in IA&B’s Service Group.

Accepting their nominations put me in a position to work with your association’s CEO, senior staff, and support staff who work hard to provide us the resources needed to operate and manage our agencies.

I cannot state more emphatically that you should utilize what is available to you to your advantage. I also charge you with supporting, with your dollars, the advocacy efforts of IA&B and your lobbyists in their government relations efforts. Protect your turf!

With that, I hope we cross paths in the future.

Respectfully,

INSURANCE AGENTS & BROKERS 5050 Ritter Road | Mechanicsburg, PA 17055 191 Main Street | Annapolis, MD 21401 800-998-9644 | IABforME.com

IA&B BOARD OF DIRECTORS OFFICERS Craig S. Mader, Chair Crofton, MD Richard M. Rankin, CIC, Vice Chair Lancaster, PA

MEMBERS Gregory H. Bennett

Sarah M. Brown, CIC, CRM, AFIS Shrewsbury, PA E. Stephen Burnett, CIC, ARM Wilmington, DE N. Lee Dotson, CIC, AAI

Wilmington, DE

Andrew Enders, Esq.

Harrisburg, PA

Len Gieseler, LUTCF

Pottstown, PA

G. Greg Gunn, CIC

Lemoyne, PA

Bryan C. Hanes, JD

Hagerstown, MD

Jason R. Hess

Coraopolis, PA

Lisa A. Leach Goth, CIC

New Bethlehem, PA

Christopher J. Miller, CIC

Jonestown, PA

Michael A. Papa, CIC, MBA Hunt Valley, MD William H. Purdy

Sunbury, PA

Jason Rodriguez

Wilmington, DE

D. Bradley Rosenkilde Jr.

Hunt Valley, MD

Tara S. Silfies, CPCU

Bethlehem, PA

Robert L. Smyrl Jr., CIC

Hatfield, PA

J. Marshall Wolff, CIC, CPCU Easton, PA

NATIONAL DIRECTORS Michael P. Ertel Sr. (PIA) Columbia, MD G. Greg Gunn, CIC (IIABA) Lemoyne, PA

Craig S. Mader Chair of the Board 2

AUGUST 2021

Bel Air, MD

Diane Hornung Hanby (IIABA) Wilmington, DE

DON'S DISCUSSION

DON'S DISCUSSION IA&B Legal & Corporate Affairs Director Don Bankus

Are you a member with a question?

Contact Don to find the answer at 800-998-9644, ext. 603 or DonB@IABforME.com.

QUESTION: Is an email disclaimer required by law?

ANSWER: While it’s prudent (from an E&O perspective) to include language on agency emails notifying recipients that coverage can’t be modified, or a claim submitted, via email, use of such a disclaimer is not required by law.

IF IT’S NOT REQUIRED BY LAW, WHAT ARE THE BENEFITS OF USING AN EMAIL DISCLAIMER?

CAN YOU GIVE AN EXAMPLE OF AN EMAIL DISCLAIMER?

Some of the benefits include:

The following represents a sample of commonly used email disclaimer language:

▲ As a part and parcel of interacting with your customers, an email disclaimer expressly puts an insured on notice that he or she cannot and should not rely on the fact they sent you an email requesting a coverage change, or notifying the agency of a claim, and expect that such a request or notification has or will be processed simply because they pushed the send button and sent you an email; and ▲ Using an email disclaimer represents a risk management technique your agency can use to control or minimize E&O exposures associated with electronic communications, and should be utilized in conjunction with other related risk management techniques, including email filtering and implementing an agencywide email policy.

IABforME.com |

A coverage modification or claim submitted via email will not be considered reported until such time as our agency acknowledges receipt of the request/ information, and confirms with you that the coverage modification or claim has been processed and submitted to the insurance company.

While use of an email disclaimer doesn’t represent a silver bullet against an E&O claim or dispute, it’s (1) a simple measure to employ; (2) represents one more line of defense in an increasingly litigious world; and (3) comes at a very affordable price – $0.00.

This document is not a legal opinion and should not be relied upon as such. The intent of this document is to provide a general background regarding the topic or topics discussed, not to provide legal advice. Producers and agencies should consult an attorney regarding specific situations and specific questions with respect to the topic or topics covered in this document. Neither the Insurance Agents & Brokers nor any of its employees shall be responsible for any errors or omissions regarding any statements made in this document, nor any errors or omissions regarding any statutes, regulations, court rules, and/or any other government documents cited in this document.

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[Imagery:] If you want, you could pick any of the bolded topics and use a related image. Or, you can go with the focus of the article – revisions to homeowners’ policy forms.

REVISIONS FORTHCOMING: A LOOK AT SOME HO POLICY CHANGES FROM THE ISO

By Kevin C. Amrhein, CIC The year was 2011.

While you were watching “Harry Potter and the Deathly Hollows: Part II” and jamming to Adele’s “Rolling in the Deep” (that year’s highest grossing film and top single), the folks at the ISO were releasing a major revision to its Homeowners’ form – their first in 11 years.

Eleven years later, with a tentative release date of March 2022, ISO is at it again.

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The purpose of this article is not to provide a comprehensive review of all new and revised forms (there are resources available to agents looking for such.) Rather, I’ll highlight a few things that peaked my specific interest. In no way is it my intention to deemphasize the importance of other updates I’ve not specifically mentioned here.

Virtual Currencies – Like it or hate it, crypto is everywhere. Your personal lines insureds are buying/ trading/mining this stuff and, when AUGUST 2021

something goes wrong (think theft), may assume they have coverage.

To clarify, ISO has added Virtual Currencies to the list of property not covered.

Definition of “Motor Vehicle Liability” – Current wording would likely exclude the maintenance, occupancy, operation, use, loading or unloading of such vehicle or craft by any person. Intended or not, a result of this wording is the possible exclusion of coverage should the insured be liable as a social host for

COVERAGE CORNER damage/injury in an auto accident caused by a guest after leaving the insured’s party. Updates to the definition will benefit the insured by clarifying that the “any person” wording does not apply to autos.

Dollar Threshold for “Business” Exception – For over 20 years, the dollar threshold in an important exception to the business exclusion has been $2,000. Specifically, the exception doesn’t apply should the amount of total compensation generated by the activity exceed this amount during the 12 months prior to the policy period. ISO is increasing this threshold to $5,000.

Special Limit of Liability for Model or Hobby Aircraft – Current wording allows for damage to model or hobby aircraft to be covered up to the Coverage C limit. As the sophistication of such aircraft evolve, so do their value, and many such aircraft can be very expensive. The revised forms will limit coverage for model or hobby aircraft to $2,000.

Limit for Debris Removal Expense – Readers of this column and students in my classes may tire of my constant droning regarding coverage for debris removal expense. Regarding trees, current wording limits coverage to no more than $500 per tree, $1000 total per occurrence.

Anyone who has actually paid the expense to remove fallen trees from their premises knows the cost is steep and that these limitations are woefully low. ISO is increasing the amounts to (a still low but improved) $1,500 / $3,000.

Renovation, Remodeling or Repair – Due to several inquiries I’ve received in the last few years, this one stood out. Current wording excludes

certain things – for example, vandalism – if the house has been vacant for more than 60 consecutive days but makes an exception to a dwelling being constructed. To avoid the common interpretation that “constructed” refers only to groundup construction, ISO has revised the exception to say “a dwelling being constructed, remodeled, renovated or repaired is not considered vacant.”

Riding Lawn Mowers Off Premises – Current wording gives back coverage when certain motor vehicles (such as a riding lawn mower) are used solely to service a residence. If the insured used the mower to cut grass at their vacant lot or office, coverage would not apply. ISO has reworded the exception to remove the “residence” requirement and extend coverage to a riding lawn mower that is being used to mow a lawn (apologies, but it appears the “or pull a float in the holiday parade / drive to the beer store” exceptions must have died on the vine).

Cannabis. Current forms don’t specifically mention the “C” word.

The revision will include a definition of “Cannabis” and specifically exclude it for both property and liability. However, two new endorsements – one for property (HO 06 01) and one for liability (HO 24 01) – will allow willing carriers to extend coverage on a limited basis.

breakdown and analysis of the forthcoming revisions.

That’s all for now. Until the next round … cheers!

Kevin C Amrhein, CIC, is IA&B's education consultant. He works with our CISR and CIC programs, as well as our special topic seminars and live webinars. Catch him at one of our upcoming professional training offerings: IABforME.com

COVERAGE COURSES Learn the latest personal lines coverage updates and earn CE with these upcoming live CE webinars.

Member price: only $75.

HOMEOWNERS IN REAL LIFE: TALES OF CLAIMS & COVERAGE AUGUST 5 1 - 4 PM

CE

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PERSONAL LINES COVERAGE CONCERNS

CONCLUSION I’d be remiss if I didn’t extend appreciation to the Big I’s Technical Affairs Committee (TAC) for their hard work with the ISO on these and other form revisions. I’d also like to give special thanks to Chris Boggs, Executive Director of the Big I Virtual University, for his always insightful

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AUGUST 26 9 AM - NOON

CE

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Register today. IABforME.com 800-998-9644, option 1

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NEWS & NOTES

Brinjac and Miller in the Pennsylvania Capitol after testifying in favor of SB 676

IA&B TESTIFIES ON STACKING IN PA Earlier this summer, IA&B Board Member Chris Miller, CIC, IA&B President & CEO Jason Ernest, Esq., and IA&B Government Affairs Director Lauren Brinjac testified before the Pennsylvania Senate and Banking Insurance Committee in favor of Senate Bill 676. The bill would completely eliminate stacking and remove restriction on UM/UIM limits, simplifying auto insurance for consumers and agents. At the time of this writing, the bill was awaiting a committee vote.

SHARE YOUR MILESTONE ANNIVERSARIES

NEXT ROUND OF IA&B EDUCATION SCHOLARSHIPS

Many independent agencies have a rich history in their communities.

IA&B wants to recognize your agency’s contributions.

Applications for the next round of IA&B Education Scholarships are now available.

Is your agency celebrating a milestone anniversary? Whether it’s five years or 125 years in business, we want to acknowledge your accomplishment. Submit a (historical or present-day) photo of your staff or building for inclusion in Primary Agent magazine.

Email announcements and images to IA&B Public Relations Director Karen RobIson at KarenR@ IABforME.com.

Once again, IA&B will award two individual scholarships for employees of a member agency to receive a full CIC Designation and full CISR Designation.

In addition, member agencies can apply for scholarships to send an employee to a CIC Institute, CISR Seminar, or CE Other Coverage Webinar.

Visit IABforME.com for more information and applications.

Applications are due Aug. 19, 2021, and the recipients will be announced on Sept. 17, 2021.

Please note that IA&B also offers licensing exam prep scholarships on an on-going basis.

Questions? Contact: Susan Zvorsky, CISR Elite IA&B Events Manager 800-998-9644, ext. 206 SueZ@IABforME.com

OUTSTANDING CSR OF THE YEAR WINNERS Melissa Kelley Williams Insurance Agency Rehoboth Beach, DE

NEW IA&B WEBSITE A new IABforME.com is now available. Be sure to check out the new Member Resources section.

Please note that the first time you log into the member portal on the new website, you will need to reset your password. Your username/ID remains the same.

Questions? Contact IA&B at 800-998-9644, option 0 or IAB@IABforME.com.

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Laura Kellner HUB International, Mid Atlantic West River, MD

Congratulations to the following recipients of state Outstanding CSR of the Year Awards, recognized for their dedication, professionalism, and successes.

AUGUST 2021

Maria Radermacher Strickler Insurance Lebanon, PA As state winners, they now are entered into a national competition, overseen by The National Alliance for Insurance Education & Research.

THANK YOU, VOLUNTEER LEADERS On behalf of the IA&B staff and membership, we send our sincere thanks to the following outgoing IA&B Board of Directors officer and members for their time and leadership.

IA&B SERVICE GROUP CHAIRMAN Craig Mader Craig S. Mader Insurance Agency Inc. Crofton, MD

IA&B BOARD OF DIRECTORS MEMBERS E. Stephen Burnett, CIC, ARM CBM Insurance Agency LLC New Castle, DE N. Lee Dotson, CIC, AAI Bellevue Insurance Services

®

Wilmington, DE

G. Greg Gunn, CIC Gunn-Mowery LLC Lemoyne, PA

Bryan Hanes, JD Antietam Insurance Associates Inc. Hagerstown, MD

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Q&A with

Alexis, pictured with her father, Scott Burns, and grandfather (seated), Gene Burns

ALEXIS BURNS

Alexis Burns is executive vice president and fourth generation owner of Burns & Burns Insurance.

Headquartered in Clarion, PA, Burns & Burns is a full-service independent insurance agency with nine locations throughout Western Pennsylvania.

Q. You began helping at the agency at a very young age.

Was there ever any doubt that you’d join the family business? And does your sister or any other family members have interest in insurance?

A. I’ve always had an interest in insurance and hoped that my dad and grandpa would ask me to work at the agency one day. It was important for me to get realworld experience after I graduated from the University of Pittsburgh. I worked at a different company first and learned about sales, the dos and don’ts of management, and office politics. Basically, I wanted to earn my keep and be a valuable asset to Burns and Burns. My sister is doing the same thing right now, gaining a unique and helpful perspective that will aid her in the future if our dad asks her to join the agency, too.

Q. What are the best – and most challenging – things about joining a family business?

Three generations...

A. Getting to work alongside my dad and grandpa every day is the best gift I could ever ask for. We all have different strengths that complement each other. There’s an incredible amount of trust, and we all share the common goal of wanting to bring Burns and Burns to its fullest potential. The most challenging part of the family business is being held to a very high standard. However, I enjoy the challenge, and it keeps me even more motivated.

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Q. Your role includes a bit of everything – sales, HR, marketing. What’s your favorite part of your job and why?

A. I really enjoy the variety and getting to work in so many different parts of the business. If I had to pick a favorite part, it would be getting to work with my clients and building relationships with them. I feel like I was born to be in sales. It’s so fulfilling and gratifying to be the matchmaker between the clients and their insurance providers. I come in to a client’s life as the underdog, because let’s face it, no one really wants to talk about insurance. This is where I come in and make it a much more enjoyable experience for everyone.

Q. Having multiple locations must be challenging at times!

How do you create operational cohesion? And how about camaraderie?

A. Creating cohesion and camaraderie is something we continue to work on. We have recently created monthly internal newsletter where we get to hear about the exciting things going on in each other’s lives inside and outside of the office like new babies, marriages, milestone birthdays and work anniversaries, and designations.

Since our offices are geographically spread across the state, we utilize current technology. We started having frequent virtual meetings with producers and customer service representatives. This is a great time to share announcements and exciting news going on within the agency and helps us stay connected.

AUGUST 2021

ON THE COVER Q. You’re young, have a degree in marketing, and worked for a tech firm – all of which surely armed with you some fresh ideas when you joined the agency. What’s your best advice for introducing change and encouraging a team to embrace it?

A. I think what has helped me is keeping the big picture in mind when presenting new ideas or processes. If individuals understand the “why,” they are oftentimes more open to the change. For example, we just switched over agency management systems about two years ago. We found that breaking it down into feasible and actionable pieces or goals is helpful for embracing change. People understandably get overwhelmed, and it is important to provide training and practice along the way.

Q. What’s the best professional advice you’ve received?

A. “You will never regret trying your best.” My previous boss out of college would wrap up each week with this encouraging piece of advice. Hearing this would always make me want to do my best. I still remember him and his message to this day.

Q. Let’s play four favorites! What’s your favorite …

Hobby?

I am just getting into biking. My husband and I bought new bikes and spend time together riding on a trail near our house. It’s very refreshing to step away from work and enjoy nature with my best friend. I also enjoy baking in my spare time. My go-to crowd pleasers are my triple chocolate brownies.

Sports team?

Pittsburgh Steelers or any Pittsburgh team Vacation spot?

My favorite vacation spot of all time is in Jupiter, Florida.

My grandparents spend the winter months in Jupiter, and I’ve always enjoyed visiting them there from a young age.

This is also where I ended up meeting my husband! So of course, it’s a place with some great memories for me. (shameless plug) IA&B member benefit?

The IA&B team is so responsive and helpful whenever I need them – which is often. As a young agent, I have found them to be a valuable resource and tool. I especially love getting to work with [IA&B VP-Advocacy] Claire Pantaloni.

She is my go-to girl!

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AGENCY PERPETUATION Agency perpetuation expert Brian Burke offers insight into valuation trends and projects what’s to come in the world of agency deals. He also explains what a perpetuation-fitness assessment entails and who should undertake one in this first of a two-part series.

By Brian Burke, B. H. Burke & Co., Inc.

IABforME.com |

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AGENCY PERPETUATION To introduce our thinking on the ever-important subject of agency perpetuation, we’ll begin with a look at what’s happening “out there” in the world of agency values and agency deals, and the implications of that for the subject at hand.

At our firm, we have been thinking for several years now that if agency owners are intending to sell their agency, or a significant part of it, either outside or as part of an internal perpetuation plan, they better act “now” because the recent well-documented run-up in values will not last forever. Financial things just don’t go up in straight lines, or even smooth curves.

Well, we are glad we didn’t say that out loud too often because the deals and the values just kept on comin’.

Year after year.

But now we think you ought to listen. We do not have a crystal ball, and our ego is in check. We don’t know what’s going to happen. But here are some signs that the curve is bending flatter and is likely to bend some more soon.

One sign is actually more than a sign. It’s hard data. A couple of national agency buyers we have worked with are now offering lower EBITDA multiples than they did just a short time ago, all else being equal. They may stretch here and there, but only for special situations or agencies that are both a good fit and large. “Game changers,” they call them. For other prospects, their offering multiples (of EBITDA) are down on the order of 8 to 12%. We’re not saying that’s true of all buyers right now, but it is for a couple of prominent ones. And it’s an important data point.

Be assured, if you have a good book of business, a profitable operation, and the proven ability to grow, even modestly, your agency remains marketable, and for good value. And there are some new “accumulators” on the scene. But the trend lines are changing.

Another factor is new but considered real by most people who pay attention to things on the M&A front. That is the strong likelihood that taxes are going up in 2022 and maybe even in late 2021. There is talk of a doubling of capital-gains tax rates. Even if that kind of a bite does not happen, fear of it, a legitimate fear, will drive behavior. It might accelerate a couple years’ normal M&A activity into the rest of this year. Big implications.

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Another is interest rates. With the amount of money our federal government is spending, borrowing, and creating (unprecedented and until recently, unfathomable), everything we have learned in economics says that this will lead to inflation and therefore to interest rate increases. Believers in Modern Monetary Theory say, “No, not necessarily this time; this time is different.” Who’s right? We don’t know. But we know this: We would not bet the farm that rates won’t go up. So we can’t say rates are going up, or when. But we can say that if/when they do, the demand for equity will go down. And private-business ownership, including insurance-agency ownership, is in the equity bucket. When demand goes down, so do prices.

That much we do know.

If you intend to engage in a perpetuation transaction soon (the next year or two) or several years from now, or even if you are unsure about what you should do on that score, we recommend that you do a serious and thorough perpetuation-fitness assessment soon. The assessment should involve an objective look at three things: One, what you have in the way of the building blocks needed for a successful perpetuation plan (those building blocks being people, systems, attitude, and performance). Two, a few future-value scenarios for your agency. Precision is not the aim. You want to see the likely impact on value of some of the key developments in the economy and industry. And finally, cash-flow projections for at least a few different perpetuation-transactions. There are a lot of ways to structure these things. Whatever you end up doing, you should engage in a good workout soon on these subjects.

Get comfortable with the trade-offs. Take some of the mystery out of it.

The independent insurance agency business is still a great business. It has a business model that, if managed well, is hard to beat and the envy of many business owners. So don’t listen to Chicken Little. The sky won’t be falling. But some of the things that affect your business are changing, and maybe by a lot.

Okay, now, let’s say you do the fitness assessment recommended above and that process injects some new energy into a perpetuation plan for your agency. And let’s be realistic and say that you still don’t have all the answers for what the plan should look like, but you have a revived sense of direction. What then should the agency’s priorities be, and yours in particular? Not generalities and

AUGUST 2021

old refrains, but solid, specific business priorities in light of 2021 realities.

If we had all the readers of this article gathered in a conference center (in a happy post-Covid world, without masks) and we were leading a seminar on this subject, we would have a mid-morning shift into four break-out sessions: One room for significant owners and managing partners; another for minority owners/perpetuators; another for producers and others aspiring to be owners and perpetuators; and a fourth for managers and other key people who, for whatever reason, do not aspire to be owners but are committed to the agency and love what they do.

Check Out the New & Improved

IABforME.com

The task in each break-out session would be for every person to come up with two lists – not laundry lists but short lists of not more than four or five things each. List one: From your perspective and in your long-term interest, what do you want the agency’s priorities to be for the next two years? List two: What should be your own personal, job-related business priorities in the next two years?

In next month’s follow-up article, we’ll tell you what we believe should be on the lists for people in all four break-out sessions. Until then….

Brian Burke is the founder and semi-retired chairman of B. H. Burke & Co., Inc. Learn more at BHBco.com.

SAVE TIME & MONEY on Recruiting | Hiring | Training WAHVE is an innovative contract staffing solution that matches retiring professionals to fill your staffing needs.

Contact Bill Hunt at WAHVE today!

Bill.Hunt@wahve.com • 646-807-4372 ext. 3757 *Mention your IA&B membership for a discount on set-up fees.

IABforME.com |

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REMOTE ONBOARDING MISTAKES AND HOW TO AVOID THEM

By Sharon Emek, Ph.D., CIC, WAHVE Most likely, your organization, like many others, spent the better part of a year operating remotely. Your employees and managers addressed challenges and adapted well. Yet, for those who will continue (at least in part) working this way, there’s one more hurdle facing you – onboarding your new employees remotely.

Even with the best remote-onboarding process, mistakes happen. New employees can get lost quickly without the right amount of hands-on mentoring. We know – Work At Home Vintage Experts (WAHVE) was founded as a 100-percent remote organization. We’ve overcome the very challenges your company may be facing when bringing new people on board.

IABforME.com |

Because of this, we’ve been able to identify the most common mistakes companies can make during the onboarding process. And we’ve found solutions that can help transition those new employees into the workforce more successfully.

RUSHING THE ONBOARDING One of the biggest mistakes we see is companies that rush the new hire through onboarding in order to get them up to speed and on the job quickly. However, that employee could be missing out on key information or training. That can impact their productivity and their overall job satisfaction.

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REMOTE ONBOARDING Set an onboarding timeframe for all new hires. Even in cases where you have a critical need, slow down. Make sure that employee has the time and training to grasp the job duties, and make connections to help them collaborate with various teams.

By paying attention to the needs of your new hire, your organization can improve both the onboarding process and the retention rate of all new hires. That can only result in better productivity, happier employees, and a stronger work culture for all.

IGNORING THE CULTURE PART Just as in any brick-and-mortar operation, your work culture is critical to the success of your employees. If you’re not nurturing it, those working relationships will suffer. By not paying attention to your company’s culture, your employees are left to their own devices. How they interpret every aspect – from task performance to the company’s ethical standards – can create a chaotic environment that can increase your loss exposure.

Define that culture at the outset. Integrate the new hire into the culture as quickly as possible, and keep them in front of other employees and managers to ensure that the message is reinforced. As a rule, your culture should be clearly defined and promoted throughout your organization.

FOREGOING BENCHMARKING AND MEASUREMENT In order to see and correct issues your new hire is experiencing, you have to be looking. You can’t know if the employee needs more training or mentoring unless you’re checking in regularly. That impacts employee morale and productivity, and it impacts the overall health of your organization.

Have a mentoring process in place. Meet with your employee weekly in a one-on-one. Open the channels of communication so that they can reach out with questions at any time. Make sure they understand the job, how it fits within the larger company structure, and what is expected of them. Then make sure to give them the tools and support necessary to make them a success.

STEPPING OFF ON THE RIGHT FOOT Consistent onboarding applied across the organization increases the likelihood that your new hire will be satisfied and productive. Whether your remote operations are temporary or more permanent, bringing new hires on board requires a different process than traditional onboarding.

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AUGUST 2021

Sharon Emek, Ph.D., CIC, is founder and CEO of Work At Home Vintage Experts (WAHVE).

WAHVE (WAHVE.com) is an innovative, contract-talent solution that matches retiring, experienced insurance, accounting, and human resource career professionals with a company’s talent needs.

ONE-STOP HIRING SOLUTION Are you tired of recruiting, hiring, or turnover? Then contact Work At Home Vintage Experts (WAHVE).

WAHVE matches “retired” insurance professionals who have remote-work experience to meet your specific staffing needs. Plus, as an IA&B member, you receive a 50% discount on the one-time setup fee.

To get started, contact Bill Hunt, WAHVE. 646-807-4372, ext. 3757 bill.hunt@wahve.com

“I love spending hours trying to quote online.”

SAID NO AGENT EVER. No agent ever said they enjoy wasting time.

But they have said fast online quoting with a clear understanding of appetite is key to a successful partnership.

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Welcome to a better way to work online — because you deserve it.

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Simple solutions for complex times

UFG’s rejuvenated online experience isn’t about being better than others — it’s about being better for agents like you. Explore our simple solutions for complex times and experience service aimed to exceed expectations.

ufginsurance.com/online © 2021 United Fire & Casualty Company. All rights reserved.

WELCOME NEW AGENCY MEMBER EB Sachek Insurance Services LLC Odenton, MD

THE INSURANCE CLUB OF PITTSBURGH

94th Annual I-Day 2021 Jodi Keller, Chairperson

NEW ASSOCIATE MEMBER

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www.insclubpgh.com | 412-489-5626

IA&B MEMBERSHIP MEANS

For information about membership or benefits, contact: Tim Wonder, VP-Membership 800-998-9644, ext. 351 TimW@IABforME.com

IA&B Members: Shopping E&O?

MARKET ACCESS

▲ We have the plans that agencies need.

• You will be the agency of record on all policies

For personalized service, CONTACT DAVID WERTZ, CPIA 800-998-9644, ext. 506 DavidW@IABforME.com IABforME.com

• No initiation or monthly fees • Low to no volume commitments • Standard commission rates • 100% ownership of expirations • A broad mix of standard and niche markets that are state specific

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Contact Tim Wonder, VP - Membership TimW@IABforME.com • 800-998-9644, ext. 351

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AUGUST 2021

T R A I N I N G & E D U C AT I O N IN-PERSON CLASSES RETURNING THIS FALL IA&B will begin to offer select courses in person beginning in September.

To see a full list of online and in-person courses, go to IABforME.com

PRIMARY AGENT Editor: Karen Robison KarenR@IABforME.com 800-998-9644, ext. 606 Contributing editors: Jennifer Ross Megan Fioretta Sales Account Executive: Laura Gaenzle laura.gaenzle@theygsgroup.com 717-430-2351

UPCOMING WEBINARS AUGUST 2021 Connect with Other Agents & Get CE Credits Online.

We offer online courses for the CIC and CISR programs.

Register today! 800-998-9644, option 1 IABforME.com DATE

TOPIC

TIME

Aug 3-4

James K Ruble Graduate Seminar

8AM-5:15PM

Aug 3-5

Property & Casualty Licensing Study Course

8AM-5PM

Aug 4

CISR-Commercial Casualty I

8AM-3:45PM

Aug 5

Homeowners in Real Life: Tales of Claims & Coverage

1PM-4PM

Aug 10

CIC-Commercial Multiline Institute

8AM-5PM

Aug 10

Why ALL Employers Need EPL Coverage

1PM-4PM

Aug 11

CISR-Life & Health Essentials

8AM-3:45PM

Aug 12

Additional Insureds and Certificates

9AM-12PM

Aug 12

Agent’s E&O: Duties, Operations, Checklists and More

1PM-4PM

Aug 17

Culture, Ethics and E&O: The Right Way to Run an Agency

1PM-4PM

Aug 18

CISR-Commercial Casualty II

8AM-3:45PM

Aug 18

Hour w/ Cathy: Endorsements for Contractors

2PM-3PM

Aug 19

Testing Your Knolwedge of Personal & Commercial Lines

9AM-12PM

Aug 19

Adventures in Aging: Understanding SS & Medicare

1PM-4PM

Aug 24

William T Hold Personal Lines

8AM-4PM

Aug 24

Flood Insurance and the NFIP

9AM-12PM

Aug 24

Insurance Solutions for the Long-Term

1PM-4PM

Aug 25

CISR-Personal Residential

8AM-3:45PM

Aug 25

Hour w/ Kevin: Insuring Drones

2PM-3PM

Aug 26

Personal Lines Coverage Concerns

9AM-12PM

Aug 26

Insuring Commercial Transportation Exposures

1PM-4PM

IABforME.com |

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Be more than an insurance agent.

Be the hero your clients count on.

With our financial strength and expertise at their back, EMC agents are empowered to improve the lives of business owners all over the country. Every custom-tailored EMC policy means you can help clients fight off costly risks, report claims in a flash and land safely back on their feet. It’s this combination of innovation and service that makes an EMC agent a real hero. emcins.com

©Copyright Employers Mutual Casualty Company 2021. All rights reserved.