On Point - Insurance Journal TV: Recent Episodes

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On Point, hosted by Peter van Aartrijk, conversations with interesting and informative insurance experts on technology, branding, culture, social media marketing and other great topics.

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On this installment, we learn what’s on the minds of some 2,000 independent agency staffers. Jess Butler, VP of Vertafore, which conducted a national survey, outlines how agents are managing talent, the hard market and technology. Some 70% of respondents said they’re having difficulty placing risks, Jess reports. With a higher workload, 55% said they’re dealing with increased stress. A third of respondents have added new tech tools as a response to managing turbulent market conditions in the last year. Moreover, the agent/carrier relationship is under pressure—a third said they’re looking for new carriers. “There are opportunities for wholesalers and MGAs here,” Jess notes. When Vertafore asked respondents if they would refer a friend to an insurance career opportunity, only 20% said yes. “That number has been dropping since we’ve been surveying agents,” says Jess. “They’re feeling the pressure of the hard market.” She also offers great suggestions on how insurance firms can attract younger workers by changing the conversation on what it’s really like to work here.

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You’ll enjoy this episode of On Point, recorded live with a studio audience at the recent AppliedNet tech conference in Nashville. Our guest, Applied Systems CEO Taylor Rhodes, dives into a host of entertaining personal and business topics. AI’s place in insurance is gaining traction, he notes. “Most of our use cases in AI are productivity based,” Taylor says. Example: Agency service reps spend an average of nearly six hours per day just on email. AI can summarize an email thread and attach it to the right customer record. As people learn to trust the technology, Applied will roll out more capabilities, Taylor says. He also covers the role of leadership, why he dislikes social media, and how we can all be better neighbors in an acrimonious election season. “Get out there and meet people not like you,” he says. “Stop looking at others like they’re your opponent.”

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Who says HR departments lack the chops to get young people interested in insurance? On this On Point installment, we hear from the human resources lead at Sentry Insurance, Mike Cloud, who is on offense to find emerging talent—most of it local. The carrier actively interacts with local high schools and various colleges, namely the University of Wisconsin–Stevens Point, which is walkable from Sentry’s home office. In fact, the carrier hires an average of 100 UW-SP students each year. “If we can get them on our campus, we can sell them on insurance.” Eight of 10 students who get a Sentry offer accept it. And if the company keeps them past two years, another 80% stay long term. It’s all about providing “engaging, challenging work,” Mike says. Listen as he unpacks a few ideas to recast job descriptions. He describes what “insurance work” really means—which, not surprisingly, is much more than students typically think.

The post Relentless Talent Pursuit appeared first on Insurance Journal TV.

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As insurance organizations consider a refresh of their agent or policyholder online experience, they often first seek operational efficiency. Wrong approach, notes Josh Levine. He’s the founder of Cake & Arrow, an online experience consultancy. “Better and faster sounds great, but it shouldn’t come at the expense of the end user experience. You can do both. Don’t start with technology. Don’t start with the what; start with the why.” Is insurance on board with this approach? Josh says the “it doesn’t come naturally to insurance organizations. They want to focus on the process, like claims. It’s in their DNA. It’s what the industry thinks people need versus what actually drives people to make a transaction.” Josh believes in intense field research before revising digital experiences—sitting down with agents, for example, and seeing them navigate tech tools. “We want to really understand the behaviors and attitudes as it relates to the problem.” In this engaging conversation, Josh also offers some personal advice: “You be you.”

The post Better and Faster Sounds Great… appeared first on Insurance Journal TV.

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Here’s a group therapy session for all you claims adjusters out there! Or, if you want to understand what the adjusting world is really like, take a listen to 20-year veteran Chantal Roberts. (A commercial auto claim featuring an alien encounter is truly cocktail party discussion-worthy.) Today, Chantal is teaching and writing books about that world. Her latest work is literally a fairy tale series to simplify understanding of how a policy would respond, or not, to a claim. She has advice for carriers as both demographics and influence shift to younger consumers. Leaders need “to start paying for designations again and sending their teams to seminars again. There is a fundamental misunderstanding of what insurance is, and that is the insurance industry’s fault. We are looking at it backwards; we need to start with claims. Carriers need to take a look at themselves. Ask what you can do to protect policyholders, not stakeholders. That’s what Gen Z wants.”

ClaimsAdjuster #GenZ #PolicyholdersFirst

The post Claims Adjuster Deals with Aliens appeared first on Insurance Journal TV.

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Most agents and brokers do a great job for customers. But guess what? They’re licensed professionals—and like all professionals, they can get sued. That’s not fun. On this recording, we hear from Amanda Juratovic, who oversees the Big “I” E&O program for association members. Listen as she outlines large and growing E&O issues around agency aggregators, M&A, consumer “promises” in marketing, AI, the hard market, and carrier solvency. Each of these industry challenges is a landmine of potential legal actions against agencies. Amanda has seen it all and provides excellent, simple advice for principals and their teams. Listen up, agents: Get smarter and cleaner about your operations and business practices!

The post Who Wants to Get Sued? Nobody! appeared first on Insurance Journal TV.

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Independent agency owner Tiago Prado might challenge your thinking, because he is challenging the industry’s status quo. 🤔💡 Listen as he unpacks a fascinating yet traumatic family story from his upbringing in Brazil, to dealing with gangs near Boston, to a winding journey through school and construction work. 🇧🇷 🏫 The struggle was worth it, Tiago says. He outlines how agency physical stores with longer day, evening and Saturday hours as well as 24/7 online multilingual service are keys for underserved prospects and policyholders. The strong growth of bilingual consumers and businessowners in America present an excellent opportunity. And Tiago’s firm BRZ Insurance is going after it. Tiago and his 152 associates—with an average age of 25 years—are building for the future with multiple retail offices, AI-supported service tools, sophisticated marketing, and multiple languages to meet customers where they are. “Bilingual marketing today is not an option anymore. It’s mandatory.”

IndependentAgent #InsuranceIndustry #BusinessOwner #Inclusion

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Seven years ago, Rodney Johnson approached Pat Gallagher with a new strategy for organic growth: crafting insurance coverage for diverse and underserved business segments. The diversity angle was “never about politics or philanthropy,” says Rodney; it simply meant more revenue for the broker. 🎯💼 Mission accomplished. Today the practice generates $1.3 billion in premium for 7,000 commercial clients, such as women or Black-owned firms. Rodney says “the business case is rooted in diversity of thought,” which is critical for new ideas. “How can you innovate with a group of people with the same background, same life experience, same social identity? If you’re a sales organization, and you’re looking to sell to a broader range of buyers, diversity of thought allows you to increase sales.” The strategy is not “lifting one group over another,” he adds. “When more revenue comes in…people get raises and bonuses. It creates opportunities for everybody in the organization, and those opportunities don’t discriminate. This is not about ‘us versus them.’” Listen as Rodney also shares a piece of advice for younger workers looking to supercharge their careers. 🚀

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Smart money has been eyeing claims-related insuretechs in a big way, says Michael Vervena, an executive with iGUIDE. It’s easy to see why, with the promise of reducing adjusting time, costs and fraud. The property space in particular is on Michael’s radar. On this recording, he outlines how AI quickly identifies objects in a space and builds a view of property damage, speeding the claims-adjustment process. “How do you reduce costs without cutting corners—that’s where technology is really stepping up to help mitigate losses and is also taking fraud out of the equation,” he says. The personal touch in claims, however, is still critical, Michael insists. “Technology won’t take your job; you’re still dealing with people in a stressful situation and if you’re good at working with individuals, here’s an opportunity to reassure them, walk them through the process, and get them back to a clean, restored property. Technology brings transparency and reliability, but there is still a need for a relationship.”

The post Property Claims & AI appeared first on Insurance Journal TV.

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Listeners: Do not mess with Ngozi Nnaji. She’ll overwhelm you with facts, passion, warmth and all-around humanity. This insurance industry professional is a networker par excellence, matching carrier execs with agency owners. It’s all about expanding the pool of talent, markets and coverage to a wider group of Americans. For example, Ngozi outlines her “Black Friday” networking events creating one-on-one events to support Black-owned independent agencies with access to capital, capacity and consultative resources. “When you diversity your distribution, you have access to markets you haven’t even focused on before,” says Ngozi to the carrier audience. “If you want to sustain yourself as a carrier or employer, you need to consider the opportunities.” What an inspiring story, starting with family as the daughter of a Nigerian immigrant and looping through literally a hand-picked — by dad! — insurance career. Ngozi will change your day.

InsuranceIndustry #NetworkingExcellence

The post ‘Black Friday’ Gets a Reboot appeared first on Insurance Journal TV.

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If you work with construction-related coverages and want an update on business trends, here’s our resident builders risk expert for a lively chat on the construction and insurance market.🏗️ 📈 Alan Ferguson is president of US Assure, Zurich’s program administrator for builders risk. Alan literally grew up in this family business. And what an opportunity this business is, if you haven’t noticed. New home starts are healthy again, as is accompanying infrastructure (e.g. retail stores, restaurants) required to support the housing developments. 🏠 🛠️ Too, home remodels are booming. Agents should be asking their customers questions to be sure they’re covered for repairs and remodels. On another favorite “On Point” topic, Alan shares insight to US Assure’s culture: What is working so well for its 170 employees? And why?

ConstructionInsurance #BuildersRisk #InsuranceMarket #BusinessTrends #USAssure #HomeConstruction #InfrastructureDevelopment #HomeRemodels #InsuranceCoverage

The post Construction Trends Look Positive appeared first on Insurance Journal TV.

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Office culture expert Warren Wright pays a return visit to “On Point” with a snappy review of the five (count ‘em!) generations now in the workforce. It’s an existential clash of personalities, preferences — even demands. What are managers to make of this? Yes, workaholic older leaders are retiring at rapid rates, but as a group they still rule the roost. Warren serves up lots of helpful advice and examples to navigate the generation gap up and down: foster collaboration and inclusion; promote work-life balance; emphasize recognition and frequent feedback; provide meaningful work, and embrace new technologies. Whether you’re a small retail agency principal or a global organization executive, you’ll think differently when you listen as Warren lays out these fascinating realities.

The post ‘Culture Doctor’ In the House appeared first on Insurance Journal TV.

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On this installment, Meg McKeen opens up on why and how we owe it to our well-being to question the status quo of our individual career situation. And she’s a living case study. Meg worked for two decades in insurance underwriting and sales, had an epiphany, and left for a break that led to a consultancy. “I had built skills that didn’t translate into anything other than insurance,” she says. “I found myself in the weeds. I was dealing with accounting discrepancies, commission reconciliations, people not paying bills, and bully board members trying to school me on insurance after I had 20 years in the business. I was empowered but not feeling powerful. I felt I was playing small in that moment. I felt that if I blinked, 10 more years would go by and I’d be in the same place. People who have made a career in insurance deserve a better experience.” Meg’s mission is to help managers learn how to create that experience. You’ll enjoy listening to these insightful and expressive words.

The post Never Too Late to Pivot appeared first on Insurance Journal TV.

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What’s the current state and future of telematics? We check in with John Barbagallo, advisor to SambaSafety, which provides cloud-based risk management tools to monitor driver and vehicle behavior. John is former president of commercial lines at Progressive, where he led innovation in telematics as well as the growth of the carrier from a regional nonstandard player to a national powerhouse. The commercial auto market “is under a lot of stress right now,” he says. “It’s a dynamic messy environment with carriers struggling, costs going up faster than rates, there is churn, and less stability in the driver pool.” In light of the challenges, technology offers actionable, real-time information for carriers, brokers and their clients. On this recording, John unpacks key findings of a survey of agents and carriers on telematics usage and expected expansion.

The post Help for ‘Messy’ Commercial Auto Market appeared first on Insurance Journal TV.

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You grow up with technology running through your veins. You’ve got a driven personality. You welcome challenges. Your dad is a leading annuity and life agent. Yes, you just might be a candidate to launch an insurtech. Meet Elad Tsur, co-founder of Planck, which provides AI-based underwriting insights for commercial insurers. Planck bolsters underwriters’ capabilities by scanning the environment and adding to a carrier’s data dictionary. Example: An underwriter considers insuring a particular bar. Planck provides hundreds of data insights such as bar hours of operation, how many bars are on the street and which one closes last, what liquor they serve, how many bartenders are working, what sports are on TV, how close by are a hospital and police station, and so on. The result is richer data for the carrier. Elad acknowledges the biggest challenge Planck faces today is not a willingness to adopt AI; instead it’s the pace of adoption. Insurance IT departments are challenged by data-collection and privacy rules as well as regulators’ concerns. “It’s not an easy process,” he says, but “doable” and major carriers now are on board. Elad’s insights and passion combine for an interesting recording.

The post Making Underwriters ‘Superheroes’ appeared first on Insurance Journal TV.

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Insurance money. Necessary, but not necessarily sexy. What if the insurance industry could eliminate the manual money chase? Andrew Wynn is on a mission to promote jobs on the production side of agencies, brokers and MGAs rather than “non-revenue-generating roles” like accounts payable and receivable. “The way money moves and transactions happen in insurance is critical,” says Andrew, who co-founded insurtech Ascend. “Commissions, claims, premiums, endorsements, reinsurance all have to be paid. But nobody gets the best loss ratio because they’re the best at payments. Nobody gets to be a top-100 retail broker because their invoicing is stellar.” Yet… By integrating digital invoicing, premium financing and carrier payables, agencies can eliminate manual tasks and reduce operational expenses, allowing them to focus more on serving customers and driving growth, says Andrew. On this recording, he also touches on the proper role for artificial intelligence in the industry.

The post Moving Money in Insurance appeared first on Insurance Journal TV.

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How does an online insurtech broker acquire new business without spending money on paid or organic search, advertising or leads? By leveraging other firms’ relationships with their customers. On this installment we hear from David Embry, CEO of Mylo, an intelligence platform connecting small business owners and individuals with coverage from 100 carriers. Mylo’s model “takes advantage of the trusted advisor relationship our channel partners have with their clients,” David says. Such clients are startup bookkeepers and other consultancies, bakeries, flower shops, restaurants and the gamut of small commercial businesses. Mylo has 60,000 individual small business clients in 48 states and $160 million in premium. Regarding the platform experience, David says: “The question we ask is not what coverage you want. That is our job; we should have that answer. We need to ask what risk they want to cover. And bring the insurance together efficiently for a good price.” Mylo also provides risk and coverage knowledge — and carrier access — to independent agencies.

The post Insurtech Broker Connects ‘Channel Partners’ appeared first on Insurance Journal TV.

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In this batty insurance market, how do you sell value when everyone talks price? Even wealthy clients who can afford high premiums on their homes, toys and cars are complaining to agents and brokers. Enter the Private Risk Management Association, where executive director Diane Delaney brings years of experience on how affluent business can get sold. Brokers are “exhausted” from client renewal conversations, says Diane. It’s time for a refresher on value-based sales, she argues. The affluent market is just different — much more personal with wider coverage, and the language producers use is key. Phrases like, “My job as your risk manager and insurance advisor is to protect what’s most important to you and your family,” change the conversation. PRMA is a nonprofit association of 5,000 producers, carriers and service providers who manage risk for affluent clientele. Listen as Diane outlines the sales opportunity in this dynamic and growing market.

The post Up Your High-Net-Worth Game appeared first on Insurance Journal TV.

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So insurance is an accidental career for most of you? Well, have we got a story about that! On this recording, you’ll giggle at how insuretech executive Seraina Macia originally found her way to Swiss Re and a successful insurance career. Later, during the pandemic, she founded Joyn Insurance as an MGA. Joyn targets the low end of the middle market or high end of the small market — Seraina calls it “the smiddle.” She aims to transform the insurance process. “The industry is so fraught with legacy thinking and legacy systems. It’s so cumbersome and archaic with how we work in the industry. You are almost better off building something from the outside,” she says. “If you were going to build a home today, you aren’t going to build a castle and add on parts. You’re going to build a smart home from the ground up… Something modern that functions in its entirely — not a patchwork built in the old archaic way.” Seraina is an engaging “On Point” guest and you’ll enjoy her storytelling.

The post Bird Drops a Stellar Insurance Career appeared first on Insurance Journal TV.

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Futurist and repeat On Point guest David Smith says insurance professionals should get real about their careers and what the industry has been selling. Artificial intelligence is changing the game — and you may as well own your future. First, he says, AI is creating a world where the risk and insurance industry will be more about “digital customer-centric risk cover” versus what carriers have provided for centuries. This means helping customers manage risks and go beyond just offering specific insurance products. Second, AI is eliminating “tasks, not jobs.” Better to get ahead of it and “volunteer ideas” on what aspects of your job can be automated, releasing you to be more involved in human-to-human activity, David says. Listen as he provides advice on managing our futures amid the changes unfolding before our eyes.

The post AI Eliminating ‘Product-Centric, Analog Insurance’ appeared first on Insurance Journal TV.

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On this recording we hear from Dean Hildebrandt, who leads the Assurex Global group of large regional brokers. Collectively Assurex comprises 25,000 employees in 700 offices at 100 partner firms around the world, generating $40 billion in premiums. The firms are privately held and compete with the big boys: Marsh, Aon, Willis and Gallagher. Assurex provides advantages to partners: combined insurance programs for clients in various places around the world; peer-to-peer learning (e.g. COOs of the individual firms discussing common issues); and data insights in the combined premiums generated. Dean outlines the partner’s challenges on a number of marketplace and operational issues. He shares insight on how partners are managing large staffs: “Some say, ‘We’ll be the most flexible firm there is and we want to help people achieve whatever work/life balance they want.’ Other firms say, ‘We are an apprenticeship business for learning and collaboration and we want 100% of our people in physical offices.’”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

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Here’s a breath of fresh, enthusiastic air named Margeaux Giles. Haven’t met her yet? You probably will by the time she’s done running a vacuum cleaner over agent/broker insurance technology. She’s challenging the status quo with a LinkedIn profile: “Broker and Insurtech CEO. P&C Insurance Digital Distribution and Consumer Expert. Forbes Author. Woman CEO of the Year. Fierce Female Advocate. Serial Entrepreneur. Speaks Passionately with Hands.” Margeaux founded Irys Insurtech, a modular agency management system that presents a different client view than the standard, disjointed “filing cabinet” approach of some agency technology. Customers are presented differently in Irys, she notes. “A human is human. And they should be represented as such inside the software. And everything that human does should be referenced inside the system.” Margeaux has “an intense focus on bringing insurance people into technology and not the other way around.” Listen as she outlines the Irys brand and its strong Greek goddess connection.

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post ‘Greek Goddess’ Takes on Insuretech appeared first on Insurance Journal TV.

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Many independent agency principals have “seller’s remorse” when they exit their firms. They miss being the boss. And they miss the business. But what if they could have sold just a portion of the agency — a small or large book of business — and kept the rest? That is exactly what Adam Bowe’s new firm called Cake enables. On this podcast, Adam walks us through his online marketplace that links buyers and sellers. So-called “fractional” book sales will increase, Adam says. “Selling is not just for retirement anymore,” Adam relates. Owners can leverage the book for strategic purposes. “It’s about optionality. An agent who is eight to 10 years away from retirement or even five years….doesn’t have to continue running that full book of business. Maybe you sell off commercial lines and focus on local personal lines and downsize.” Or sell just a commercial auto book to a trucking specialist who, in turn, refers other lines to your agency. You’ll enjoy Adam’s enthusiasm as a newcomer to the industry. Maybe you, too, could have your cake and eat it too.

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post Agencies Selling Slices of ‘Cake’ appeared first on Insurance Journal TV.

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Artificial intelligence is a fantastic tool to support your digital platforms, says marketing guru Adam Constantine. It’s great for research and first drafts. But social media won’t “go all AI,” he says. “You actually have to talk with people. If AI talks with other AI, we’re not actually connecting. AI platforms thus won’t be successful because they won’t keep you, the human, engaged. Humans are going to want to connect with other actual humans. Will they not care they’re talking with somebody fake?” Adam outlines best practices and tips for various social media platforms. He has very definite opinions about which ones are smart for insurance professionals. Connect with people who matter — quality over quantity, he says. Adam is a former professional basketball player whose life story is fascinating, too.

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post AI is Tool, Not Cure-All, for Social appeared first on Insurance Journal TV.

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Insurance “is one of the best playgrounds for artificial intelligence,” says Applied Systems CEO Taylor Rhodes. “Its potential is massive, but the practical uses are still unclear. Insurance is a data-rich environment, but the data is stuck in systems that are hard to get to.” Ultimately, can insurance professionals focus on things that matter most, with AI playing a role? “How do we use it safely and in a high-value way?” For several years, Applied has been partnering with Google on data science and machine learning. On this recording, Taylor previews AppliedNet 2023, coming soon in Las Vegas and attracting some 4,000 industry pros. Taylor also addresses how the firm manages culture for 2,500 employees in multiple corporate and work-at-home settings. (Insider note: This year, Applied celebrates 40 years in business. Following much tinkering in the 1970s, independent agent Bob Eustace founded the firm in 1983 in his basement with “The Agency Manager,” or TAM, the first PC-based software for agents. There are still 20,000 users on TAM; however, that’s down from 35,000 last year as Applied seeks to migrate agents to newer software in Epic or EZLynx.)

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

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Why does insurance profitability lack other industries? Technology is supposed to save time, not take our time. Alas, with each new tool we add more manual workflows, data entry, and opportunity for user error. Kabir Syed is a fascinating listen. He’s a veteran insuretech executive whose latest gig is CEO and founder of Ennabl, which provides data and insights as services to brokers and agents. On this podcast he outlines the major issue with tools such as customer relationship management, which actually steal time from valuable sales efforts. Kabir discusses how artificial intelligence is about to rock the insurance world; the potential future of independent agents and brokers; and how to build a strong corporate culture in a dispersed, remote workplace. In the next 10 years, he says, “You will need your data structured and accessible. And your AI tools will require clean data for you to literally be in business.”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post ‘Insurance Is Not Catching Up’ appeared first on Insurance Journal TV.

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Author and speaker Kim Clark joins On Point to outline how insurance marketing professionals can understand and apply diversity, equity and inclusion messaging to their work. “This is the next transformation of our businesses. We have to evolve,” Kim says. “We have to understand where the generations are going, where customers are going. There is an expectation by consumers that organizations need to align to their values.” That goes for employees, too: “Many are specifically looking for alignment of values. What is on display in the window has to be in the store when you walk in.” It starts with leadership. “Leaders haven’t gotten to where they are at by being awesome at DEI,” Kim acknowledges. “A lot of leaders are out of their wheelhouse with this. They just need the data and they need to be coachable. Employee resource groups know what to do, but they don’t have agency or budget. Whereas leaders don’t know what to do, but they do have budget. What a perfect scenario to bring them together.” Kim offers a number of practical ideas and a framework for modernizing communications to highlight the business and emotional underpinning of a diverse workforce.

The post As Workers Evolve, So Must Workplace appeared first on Insurance Journal TV.

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No organization wants bad things to happen — man-made or natural. Disastrous office fires, high-profile lawsuits, executives who die on the job, embezzlements, etc. Yet, a crisis is … Read More »

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We chat with MarshBerry’s Brooke Lugonjic, who urges agency owners not to depend today’s higher property/casualty premiums to drive revenue. “Too many firms are falling into the hard … Read More »

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You’ll enjoy this recording with husband-and-wife team Gertha (“Gigi”) and Ebens (“Benz”) Jean, Delaware independent agents of Haitian decent. They stress community first, helping those in need and … Read More »

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This “On Point” episode is unusual. We’re worried about the state of our country’s media and what is considered “news” these days. Are you as well? The … Read More »

The post Can We Trust the Media? appeared first on Insurance Journal TV.

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Where can insurance marketing and communications professionals turn for new ideas as well as some group therapy? How about the Insurance Marketing & Communications Association, says Megan Bell, … Read More »

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Let’s hear from industry icon Sam Friedman, who retired recently as insurance research lead at Deloitte. Prior to that he was a long-time insurance writer and editor, joining … Read More »

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In this recording we check in with Jason Cass, an agency principal who enjoys challenging the status quo. These days he’s putting energy into a new conference, called … Read More »

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Perennial “On Point” rock star Dennis Moseley-Williams reflects and digs deep on this recording. No matter what size business you’re leading, here are five pieces of advice to get you thinking differently. The financial services management consultant covers anticipating disruption, creating the unexpected for clients, “life/work integration” (not balance), generating ideas from all quarters of the firm, and learning to listen and be more vulnerable. “Don’t double-down on the status quo; think about transformation,” Dennis says. “Think about transformation. Don’t think about the money or it’s a race to the bottom.” A client-focus is more important than process, he insists.

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Church Mutual is lucky to have John Tribble. The carrier that “serves those who serves others” got way ahead of the 2020 social unrest when it launched a diversity initiative with John in 2017. Looking in new places to recruit is key, John says. “We have to be more deliberate in talent acquisition. View people as they are. If they bring a certain different skill set, that skill set is valuable. Some of the most notable achievements or breakthroughs came from people who didn’t necessarily finish college. A degree is important, but hone in on what we need as a company to succeed. We need to allow them to feel comfortable and not be under a microscope, or another company or industry will take them. And we’ll be the losers.” Listen as John outlines how he mentors young talent, as he himself was mentored back in the early 1990s as an unpaid intern. You’ll appreciate John’s enthusiasm for the insurance industry as a fantastic place to work!

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Veteran agency consultant and repeat “On Point” guest Tom Doran with Reagan Consulting is on a renewed mission. He wants agency principals to understand the stark reality about their futures. “If we’re not focused on the leadership transition, we’re likely to wake up one day and realize that we don’t have an option to perpetuation internally because we haven’t done the needed things to maintain a healthy operation.” Primarily, agency owners need to develop young talent, he urges. Unlike the marketplace, this is “the one variable you can control. We desperately need to hire and develop young folks. We are asleep at the wheel in succession planning.” Moreover, the plan should be periodically updated, he says. “It’s not a three-ring notebook to put on a shelf.” On this episode, Tom outlines four pillars of a successful perpetuation: healthy operation, willing sellers, able buyers and a good transfer mechanism.

The post “4 Pillars” of Agency Perpetuation appeared first on Insurance Journal TV.

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Bob Rusbuldt, long-serving CEO of the Big “I,” is retiring in 2023. Starting on The Hill as a lobbyist, Bob later oversaw the development of many initiatives at the national association, including the Trusted Choice consumer brand, a bank for agents called InsurBanc, expanded insurance policies for agents, and more. As for national politics, what’s it like to have lived most of your life in DC? “It’s been a blessing and a curse to have been on the inside,” says Bob. Today, he adds, “I’ve never seen Washington more partisan in my 40+ years in this town. Interestingly, the GOP is more divided on tactics and process, and the Democrats more divided on policy. Republicans agree on most policy issues.” Bob laments that “society has become more dependent on the federal government. It’s more like the European model. There are not very many true-blue independent thinkers left. We’re moving more to socialization — we haven’t seen that since the 1930s with Marxism.”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

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Agency owners who hire producers, invest in technology and explore new markets — in other words, pursuing an organic growth plan — will have “the ultimate return,” according to Dave Tralka, CEO of InsurBanc. On this recording we check in again with Dave as he takes the temperature on the marketplace. Agency merger and acquisition activity is expected to slow, Dave says. “Private equity is taking a pause. There are still a lot of active buyers, but some chips have been taken off the table. They’re trying to digest what they bought.” That could be significant, since three out of four agency deals in 2022 had a PE component to them, Dave says. Listen as he outlines a winning agency’s “culture of achievement” that permeates all facets of the firm, including people, process and technology. InsurBanc is “the agent’s bank,” started in the early 2000s with help from the Big “I.”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

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What would agents and brokers do for a living if customers increasingly buy coverage in different ways? A lot, says Jim Dwane, CEO of insurtech Bolt, a P/C insurance exchange. On this recording, Jim outlines how technology is impacting the industry most in distribution. “Insurance distribution is democratizing,” he says. “The traditional points of sale — call center, agent, website — are now moving to new points of sale, in some cases digitally at that moment.” That means getting car insurance at the time you buy a car; home insurance when you buy or refinance, getting proof of liability coverage at the jobsite, etc. So-called “embedded insurance” means agents will evolve to risk advisors, Jim says. “Technology is making it easier to buy insurance. It also is significantly helping the agent and broker. If you could get the consumer to do 50 to 75% of the up-front work digitally, that reduces the cost basis and brings higher margins, and agents can focus more on the consultative selling process.” Bolt matches buyers and sellers, he says. “We are not disruptors. We are enablers. We enable others to disrupt.”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post Insurtech Bolt Leans In on Embedded Coverage appeared first on Insurance Journal TV.

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Most independent insurance agencies are family owned and operated (and argued over!). Most generate less than $2 million in revenue. Others, like Ansay & Associates, break out to a new level. And for “On Point” listeners, the reason is familiar: culture and brand. Our favorite topic. Listen as principal Mike Ansay walks us through how the firm had grown to 270 employees, 20+ locations around Wisconsin, and $50 million in revenue. “The culture became strategic to our ability to grow,” Mike says, noting the firm hired an exec who leads culture. “Core values are the base. If you don’t have a base to manage your people, you lose alignment. Once you lose alignment, your business is put at risk.” Mike walks us through his core values, and addresses the priority on technology. In fact, the firm is on a journey to resemble more of a tech company that happens to sell insurance.

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

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Lou Moran from Knoxville, TN is a seasoned independent agent who is learning some new tricks. Lou is leading the charge to create Fortified, a new agency alliance comprising 55 firms in seven southeastern states and some $2.6 billion in premium revenue via 35 carriers. “We’re trying to give independent agents a sustainable advantage to maintain independent,” particularly since many of its firms are family-owned, Lou says. “With all the M&A out there, it is scary.” Fortified is working on back-office support as well as coverage enhancements (e.g. benefits and cyber) just for members. Culture leads the day in interviewing potential members, Lou says. “We have learned a lot,” Lou says. “We don’t care how good you are; if you’re not a culture fit for us, you’re not getting in, because we are very collaborative, we share a lot, we help each other. A lot of aggregators are about revenue and market access, and we’re trying to build a true platform that allows us to keep doing what we do, take the back office off our plates, and let our producers sell, which we’re really good at.”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post Perpetuating Agencies Via a Network appeared first on Insurance Journal TV.

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Verisk CEO Lee Shavel joins “On Point” to explore the role of data and digitization trends in the insurance industry. A top issue: Inflation is driving higher claims costs for insurers, and creating longer-term risk exposures, pricing and reserving challenges as consumers and businesses adapt to higher prices, Lee says. The cost to make and transport products, the cost for construction, and auto and home loss costs and repairs all have spiked. Another source of stress is social inflation driven by litigation and jury awards. It was aggravated by a backlog of cases in courts during Covid, Lee relates. Insurance data reported into Verisk shows growing loss ratios in GL, commercial auto and commercial umbrella, starting in 2015. And, these losses are fed by higher jury awards and defense costs despite a lower claims frequency. Florida is an acute problem, with 79% of property litigation in the nation but only 9% of homeowners claims. In response, insurers should leverage legal analytical tools to prepare for “nuclear verdicts” in the same way they do for natural disasters, Lee says.

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post Rely on Data to Combat Loss Costs appeared first on Insurance Journal TV.

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“On Point” likes check in with future insurance leaders. On this installment we hear from Taylor Evans, a communications professional with carrier IAT Insurance Group in North Carolina and recent recipient of the Trailblazer Award from the Insurance Marketing & Communications Association. In 2017, Taylor was new to the industry, leading the charge to pour meaning into the letters “IAT” with “insurance answers together.” That galvanized a decentralized operation of 30 offices, 900 employees and eight vertical markets. “We talk about our culture a lot here at IAT. We know how to describe it now,” Taylor says about the branding process that began first inside the organization. “We had to find our internal voice. We refer to our employees as family — that works for us. Internally, we said our employees are a family of answers.”

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post Branding from the Inside Out appeared first on Insurance Journal TV.

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You’ll dig this chat with rising star Bradley Flowers, agency principal, insurtech advisor and host of the popular “Insurance Guys” podcast. He’s an enthusiastic champion of using core values to guide business decisions and employee behavior. Listen as he walks through his firm’s specific values, and you’ll have numerous takeaways from the conversation. Bradley seeks to reverse what he calls “the lack of customer-centricity in the insurance industry.” His agency, Portal Insurance, is “a 21st century version of a traditional independent agency,” he says. “We started with, Hey, how does our target customer want to do business with us? And we reverse-engineered our processes. Most insurance people do the reverse. They say, ‘Here is our process, Mr. Customer.’” Bradley urges agency owners to proactively innovate on their own, not waiting for outside forces or the next crisis.

This episode is supported by PersonalUmbrella.com, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post “Everything Starts with Culture” appeared first on Insurance Journal TV.

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Listen in on our annual chat with leading futurologist and strategic thinker David Smith. Once again, he doesn’t disappoint with his perspectives on what to expect. David believes the future holds more, not less, importance for agents and brokers to create relevant, meaningful relationships with clients. Why? The very nature of the insurance industry will evolve to help prevent losses rather than reimburse after the fact, he says. Technology is “an earth-shatteringly different” enabler of this new world. “If you focus on the client in terms of their world, you can help them be more successful, and technology can do the rest. You’ll be increasingly knowledgeable and valuable to the client. Maybe it’s not always about an insurance product, or at least not one we know of today.” Technology too will be inserted in our longer-living bodies, cleaning out our arteries as we go about our lives, he says. You’ll love this episode!

This episode is supported by Personal Umbrella, where you can quote stand-alone personal umbrella policies of up to $5 MM in 3 minutes online — just by answering 4 simple questions.

The post Futurists Sees a New Insurance Industry appeared first on Insurance Journal TV.

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Insurance marketers, you’ll love hearing from Fortegra CMO Holly Bohn Pittman. She brought her consumer-marketing chops to this specialty carrier a couple of years ago, and shares thoughts … Read More »

The post “Intrapreneur” Shares Her Insight appeared first on Insurance Journal TV.

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We were impressed by a presentation by American Family’s Brian Jones at the 2022 Insurance Marketing & Communications Association conference. Brian has been involved with diversity, equity and … Read More »

The post “I’d Love to See My Daughters in Insurance” appeared first on Insurance Journal TV.

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This is not your typical “On Point” episode. Veteran podcaster Joey Giangola with RPS and formerly with Agency Nation drops in to interview yours truly about his chosen … Read More »

The post Joey G Turns the Tables on Peter vA appeared first on Insurance Journal TV.

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What can the insurance industry learn from Bermuda, an island of 24 square miles and 60,000 people? A lot, says Argo’s Bill Wharton. He’s a resident expert on … Read More »

The post “Sponsoring” Future Insurance Workers appeared first on Insurance Journal TV.

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In this episode we stop by to chat with our friend, Rick Morgan, who leads marketing at Work at Home Vintage Experts. WAHVE places qualified, remote insurance talent … Read More »

The post Leaders Challenged to ‘Reinvent’ the Workplace appeared first on Insurance Journal TV.

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We continue our insurtech exploration with a lively interview with Joe D’Souza, founder of ProNavigator, which provides independent agents, MGAs and carriers a cloud-based knowledge management platform called … Read More »

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Tune into this episode to learn about insurtech Zendrive and making roads safer using data and analytics. Exec Dennis Ellis started his career leading a nonprofit that works … Read More »

The post Can We Reshape Driver Behavior? appeared first on Insurance Journal TV.

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Visiting with agency tech executive Joyce Sigler is akin to a yoga session with a mensch and a sherpa. She will stretch your mind, provide sound advice, and … Read More »

The post Change Is Your Friend appeared first on Insurance Journal TV.

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If you’re like me, you don’t really dig most TV ads selling car and home insurance. And if you’re like me, one exception is the Progressive campaign featuring … Read More »

The post Behind the Scenes with “Dr. Rick the Parentalife Coach” appeared first on Insurance Journal TV.

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It’s always great to catch up with insurance tech guru Steve Anderson. He dishes out some tough love to agency owners on this recording. In implementing new tech … Read More »

The post Helping Agents Over the Tech Hurdle appeared first on Insurance Journal TV.

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Do we really need to listen to another On Point episode with Dennis Moseley-Williams? Yes, we do. In fact, hear the other three recordings to prepare for this … Read More »

The post Nobody Cares About Your Business Card appeared first on Insurance Journal TV.

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During the worst of the pandemic, in late 2020, independent agency owner Spencer Houldin joined “On Point” to relay how his staff pivoted to working remote. “We had … Read More »

The post 100% Committed to Remote Work appeared first on Insurance Journal TV.

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Wow! Has the business world evolved in the last two years, or what? Here’s just the guy to help you reconsider how to lead teams today. Warren Wright, … Read More »

The post How Do You Lead Remote Workers? appeared first on Insurance Journal TV.

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Jim Rogers has a gift. And the insurance industry is the recipient. Jim talks in simple, clear English about technology roadblocks and improvements for business leaders at The … Read More »

The post Decades of Tech Leadership for Agents appeared first on Insurance Journal TV.

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The insurance industry has been around a while. So it’s no surprise that some venerable carriers would celebrate milestones. Here’s one that’s marking an impressive two centuries. Crum … Read More »

The post Once-in-200-Year Branding Opportunity appeared first on Insurance Journal TV.

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What’s the meaning of all that customer data in your agency technology system? It just sits there, right? No! We should turn that data into knowledge and wisdom. … Read More »

The post Agency Data is Money! appeared first on Insurance Journal TV.

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Would you hire a bright talent without having a specific job opening for them? Errica Rivera was on the receiving end of that offer years ago by a … Read More »

The post People First. Titles Second appeared first on Insurance Journal TV.

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The insurance industry simply must do a better job of understanding, articulating, underwriting and minimizing cyber threats to its own operations and those of the businesses it insures. … Read More »

The post Wanted: Cyber Clarity appeared first on Insurance Journal TV.

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In this second of a two-part series on the financial health of independent agents and brokers, Dave Tralka, president and CEO of InsurBanc, walks us through the M&A … Read More »

The post Agency Owners Have Sale Options appeared first on Insurance Journal TV.

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In this first of a two-parter on the financial health of independent agents and brokers, Tom Doran tees up some great news. Tom is a partner with Reagan … Read More »

The post Agents & Brokers Are Killing It appeared first on Insurance Journal TV.

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February is Insurance Careers Month. So let’s have an inside peek at how Selective is handling the talent challenge. On this episode, the carrier’s IT lead, John Bresney, … Read More »

The post Fight Talent War with Cross-Pollination appeared first on Insurance Journal TV.

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Everyone needs some fresh human communication advice, and Brian Ahearn is our guy for the job. On this enlightening recording, Brian dives into the power of “pre-suasion,” influence … Read More »

The post Raise Your Emotional IQ appeared first on Insurance Journal TV.

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It’s time for insurance organizations to get creative with hiring and keeping talent, according to our resident HR expert Claudia St. John, who consults with the Big ‘I’ … Read More »

The post “Butts in the Seats” Not a Good Work Model appeared first on Insurance Journal TV.

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It’s refreshing to hear about the future of insurance industry diversity, equity and inclusion from Dianne Greene, who was born in the South American country of Guyana, raised … Read More »

The post Business Initiatives: Meet Diversity appeared first on Insurance Journal TV.

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Challenging a professional futurist is like taking on a professional weather forecaster. Who knows who will be correct, by how much, and when? Nevertheless, we sought to find … Read More »

The post Bantering with a Futurist appeared first on Insurance Journal TV.

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Sure, lots of former football players are selling life insurance. But how many have launched a P/C insurtech? This recording features Adam Kiefer, CEO of Talage, a platform … Read More »

The post Insurtech Talage Takes on APIs appeared first on Insurance Journal TV.

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Rick McCathron, president of Hippo Insurance, loves the insurance industry, having grown up in a family agency and spending more years at Mercury Insurance. Here’s an insider’s look … Read More »

The post Hippo Has Some Legs appeared first on Insurance Journal TV.

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Who’s excited about employee agents starting their own independent agencies? Katlyn Eggar, that’s who, and her Quantum Assurance organization is focused on digital marketing support to drive what … Read More »

The post Captive Agents Going Independent appeared first on Insurance Journal TV.

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If you’d like to hire bright young talent in their early/mid-20s, then you need to speak Generation Z lingo! That’s right, and we have on hand for this … Read More »

The post Get on Board with a ‘ZEO’ Group appeared first on Insurance Journal TV.

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Ken Gregg, CEO of Orion180, readily admits his original insurtech plan back in 2014 was a direct-to-consumer personal lines model. He adjusted to engage primarily with independent agents … Read More »

The post InsurTech Orion180 Expands Homeowners Presence appeared first on Insurance Journal TV.

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Bryan Falchuk isn’t your average author and speaker. He spent 20 years as a self-described “P&C guy.” That gave him the background and passion to write a book called … Read More »

The post Insurtech Lessons: An Insider’s View appeared first on Insurance Journal TV.

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What if your organization’s Net Promoter Score (NPS) was 23? Does it mean anything? Insurance research professional Kevin Jenne breaks it all down for us on this recording, and … Read More »

The post Your Net Promoter Score is 23: So What? appeared first on Insurance Journal TV.

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Insurance professionals on the P&C side likely have never met our guest Stephanie Dunn. Even more reason to take a listen to this recording with a life reinsurance … Read More »

The post ‘Courageous Conversations’ Leading Change appeared first on Insurance Journal TV.

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Our good friend and insurance education icon Chris Amrhein joins us for a chat. And if you’ve ever attended one of his webcasts or classes, you’ll enjoy this … Read More »

The post Boomers: This Podcast Is for You appeared first on Insurance Journal TV.

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Repeat “On Point” guest Tyler Asher obviously has a vested interest in seeing more agents investing in digital capabilities to improve customer service. He leads independent agency distribution … Read More »

The post Agents: Here’s Your Digital Roadmap appeared first on Insurance Journal TV.

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You’re in for a real treat with repeat “On Point” guest and client-experience consultant Dennis Moseley-Williams. Especially if you want your firm to thrive. “Selling exceptional goods and … Read More »

The post Exceptional Services ‘Aren’t Enough’ appeared first on Insurance Journal TV.

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Is any public/private catastrophe insurance program actually funded and functioning properly? That’s up for debate. One thing’s for sure: Natural disasters aren’t going away. Insurance plays a critical … Read More »

The post New Twist on Catastrophe Response appeared first on Insurance Journal TV.

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A recent survey of the independent agency workforce by tech provider Vertafore shows that principals may need to reassess the classic five-day-a-week office culture. When asked about their … Read More »

The post Agents Want Work Flexibility, Time with Clients appeared first on Insurance Journal TV.

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Continuing our series on the status of employment brands – and work itself – we tee up some research with Kate Muth, head of strategy at Cake & … Read More »

The post Work Experience Is Evolving appeared first on Insurance Journal TV.

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You’ll dig the energy on this installment from Greg Garrett, who leads diversity and inclusion operations for Westfield. Greg’s philosophy is to build change from the inside out: … Read More »

The post Westfield’s Take on Diversity appeared first on Insurance Journal TV.

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If you’re interested in hearing from a fresh startup insurtech that is all about distribution via independent agents, this podcast is for you. Surround Insurance co-founder Jonathon Grayson … Read More »

The post Hyper-Personalized Insurance appeared first on Insurance Journal TV.

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Sometimes our best lessons are simple reminders. Agents and brokers spend most of their time marketing new business and generating leads. But what about retention? Firms can create … Read More »

The post Power of Customer Data appeared first on Insurance Journal TV.

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Some 30 million small businesses drive the U.S. economy. And, back in 2014, Insureon was one of the original insurtechs launched to serve small businessowners who wanted to … Read More »

The post Minding the Gap in Small Commercial appeared first on Insurance Journal TV.

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If you haven’t listened to Dustyne Bryant, you’re about to get an earful. Talk about passion. When the personal lines academic director for the National Alliance gets on … Read More »

The post Agents: You Gotta Ask Clients About Their Gigs appeared first on Insurance Journal TV.

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Investor Caribou Honig is looking at opportunities in the “1099 economy” – legions of freelancers who are reshaping the traditional employment model. He co-founded the InsureTech Connect conference … Read More »

The post InsureTech Connect Leader Targets Future of Work appeared first on Insurance Journal TV.

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As we wrap up Insurance Careers Month, we check in with Emily Hathcoat, who’s navigated a career leading marketing teams for CNA and Risk Placement Services (RPS). How … Read More »

The post Lessons for Marketers… And Moms appeared first on Insurance Journal TV.

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Continuing our February Insurance Careers Month series, we catch up with a bright young marketing star in Jennifer Edwards with Argo Group US. She recently received the Rising Star … Read More »

The post ‘Rising Star’ Navigates Insurance Marketing appeared first on Insurance Journal TV.

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How does that happen? Well, since February is Insurance Careers Month, let’s dive in, have some fun, and hear from Steve Linkous, CEO of Harford Mutual. (No, not … Read More »

The post Dairy Farmer Becomes Carrier CEO appeared first on Insurance Journal TV.

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One-third of insurance executives are worried that digital trends will leave them in a weaker position – or even cease to exist, according to research by futurist David … Read More »

The post Insurance “Intelligent Era” Looms, Futurist Says appeared first on Insurance Journal TV.

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The futurist Daniel Burrus says, “We spend the rest of our lives in the future, so doesn’t it make sense to plan it rather than just let it unfold in … Read More »

The post For 2021, Focus Inside First appeared first on Insurance Journal TV.

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When your job is head of media relations for the Insurance Information Institute, aka Triple-I, you’re on the phone a lot. And these aren’t calls with friends and … Read More »

The post Nutty Year for an Industry PR Pro appeared first on Insurance Journal TV.

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How was the 2020 performance for independent agency Ericson Insurance? “Our best year ever,” says principal Spencer Houldin. “And we’re doing it in our pajamas.” You’ll enjoy this … Read More »

The post “Our Best Year Ever, and We’re in Pajamas” appeared first on Insurance Journal TV.

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When the pandemic ends, will insurance agency owners and employees en masse return to the office? Some will. Some won’t, says Michael Howe, Applied’s EVP of product management. … Read More »

The post It’s Not Where We Work; It’s How appeared first on Insurance Journal TV.

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Meet Henriette Fleischmann, a rising insurtech star. She’s COO of Hosta Labs, which uses artificial intelligence to automate the detection of conditions, risks, materials and replacement values to … Read More »

The post Covid Ups the Ante for Artificial Intelligence appeared first on Insurance Journal TV.

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What does a firm do when its people (e.g. salespeople) have a giant personality out in the marketplace? When they can appear even larger than the corporate brand … Read More »

The post Personal Vs. Corporate Brand: One and the Same? appeared first on Insurance Journal TV.

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Normally we aim to peek into the future with our guests. On this recording, we check out the past. Mark Wells is an industry icon who’s been at … Read More »

The post Publisher Reflects on 50 Years of Insurance Fun appeared first on Insurance Journal TV.

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George Woods, a senior exec with Guy Carpenter, is an intriguing guest. He’s knowledgeable about insurance technology advances. You’ll hear about those on this recording. And he’s thoughtful … Read More »

The post Increasing Diversity All About Dollars… And Sense appeared first on Insurance Journal TV.