Tuesday, January 24  |  9:00 AM

Opening General Session: Welcome – State of the Insurance Networks Alliance

Steve Pearson

 

 

Tuesday, January 24  |  9:30 AM

Social & Environmental Impacts on the P&C Industry, Regional Carrier Instability, and More

David Paul

The discussion addresses, among other things, the state of the underwriting cycle and where insurance pricing may be headed in 2023. Garner insight into pressing issues on insurance with a focus on networks:

• Economic and social inflation trends impacting networks
• Financial profiles of regional insurers versus national peers
• Factors generating E&S market growth
• Overarching climate issues- hurricanes, regional storms, wildfire
• Upheaval in the Florida domestic homeowner’s market
• Performance of insurtech insurers that have emerged

David Paul is a principal at ALIRT Insurance Research, a firm specializing in the analysis of insurance company financial performance trends and member of the Insurance Networks Alliance. ALIRT’s quarterly insight into the underlying financial strength of insurers allows distributors and buyers of insurance products to anticipate financial stress and/or rating downgrades of insurance partners before they occur.

 

 

Tuesday, January 24  |  1:30 PM

Failing to Prepare is Preparing to Fail – Network Success in a Shifting Marketplace

Brian Brusoski, Mike Baeurle, Keith Captain, Phil Lucca, Paul Morrissette 

A panel of industry experts and your network peers explores significant market shifts that will challenge the current network/carrier relationship and demand greater flexibility for networks to remain profitable and relevant.

Expect discussion regarding:

• Migration to E&S Capacity
• How networks/wholesalers can improve their relationships in difficult market to maximize service & revenue.
• How Contingent Commission is changing
• Book balance and diversification
• Carriers shifting focus on growth vs just profitability

 

 

Tuesday, January 24  |  3:30 PM

Insurance Agency Consolidation and the Impact to Insurance Agency Networks

Mike Strakhov, Matt Richter

Insurance agency mergers and acquisitions continue at a very high level. Networks are not immune to this activity and have experienced the departure of members and related premium from their groups. Understanding the past and the outlook of future M&A activity, including the potential impact of a rising interest rate environment and record high inflation, will be important for any Network to anticipate potential activity for their members. Mike Strakhov, CPCU and Matt Richter from Live Oak Bank provide their perspective on the current and future insurance distribution consolidation landscape.

This presentation:

• Provide an update on M&A activity for the year, and projections for 2023
• Identify the main players
• Review the impact of inflation and interest rates on agency valuations
• Explore opportunities for networks to improve management of members looking to buy or sell and protecting their book of business

 

 

Wednesday, January 25  |  9:00 AM

Managing and Leading a Remote Workforce

April Simpkins

Hybrid and remote work is here to stay and has changed the backdrop of the workplace. While every job is not remote capable, organizations that champion remote and hybrid work will fair far better than their counterparts with retention, productivity, and job satisfaction. A recent survey of 10K workers revealed that 23% of those surveyed would take a 10% pay cut to work from home permanently.

Remote work is not new; for many employers, it can be an enticing offering and motivator in the fight for talent. This presentation examines challenges employers face when determining if hybrid and remote work should be integrated long-term. A decision like this requires changes to culture, processes, and engagement strategies. Employers are also charged with a heightened focus on mental health, as some employees work in isolation with limited interaction with coworkers.

Expect to learn:

• How generational diversity and the desire for “presenteeism” impact the remote work model.
• Employment best practices and policies to consider when establishing hybrid and remote work standards.
• How to Integrate the remote work experience into an established “in-person” culture.
• Onboarding and engagement tips for remote workers.

April is a dually certified HR Professional with 30 years of executive-level Human Resources experience. April is an HR Consultant and the Chief Human Resources Officer for Totalhr, a human resources services firm focused on supporting the HR needs of small- to mid-sized businesses. She has helped over 1000 business owners shape and develop their human capital.

If you attended the 2023 INA Meeting and would like to listen to this keynote, please email Ray Scotto, rscotto@networksalliance.com or click the “Listen to Podcast” button to request the audio file.

 

 

Wednesday, January 25  |  10:00 AM

Mastering the Art and Science of Identifying Top Talent

Keather Snyder

We’re all aware that the business landscape is rapidly evolving. You need to stay ahead of the curve, help your agency members do the same — and insight can help. Insight into selecting and developing one of your most significant assets: your employees. The value of human capital (your employees) has emerged as one of the key drivers of business success. If you start by focusing on your employees, you’ll position your company for sustainable growth!

Topics covered:

• The cost and consequences of a bad hire
• Understanding the power of insight to effectively hire and retain A-players
• How to use behavioral science to make great hires
• Best practices in the selection process

Keather Snyder is Chief Revenue Officer at The Omnia Group, a leader in helping organizations improve and optimize their talent selection, development and company culture. Keather’s career has centered around her passion for helping organizations drive business results through the tenants of cultivating employee experience, client engagement, team development and sales excellence.

 

 

Wednesday, January 25  |  11:00 AM

Producer Development Strategies for Your Agent Members

Jane Koppenheffer, Elizabeth Schenk, Rene Swan, Diane Wagner 

A panel of your network peers provides a strategic roadmap leading to optimized producer development for members of your Network. The panel discusses their solution for producer acquisition, retention, and funding. This is a repeatable model for networks looking to support agents seeking significant organic growth through the addition and training of producers.

This Producer Development Program has been initiated by members of the INA who built and are testing the program. They have collectively integrated aspects of building culture, strategic methods for hiring practices and methods for training and retaining talent. Various tools are included in the ‘toolkit’ of options available, which networks can elect to deploy individually or as a whole. In addition, local partnering is encouraged with carriers who can provide specific areas of support to network members. This approach recognizes and addresses the struggle many top agencies have with respect to developing commercial lines producers.

Expect to hear the following aspects of the LINC Producer Development Program to assist member agents to meet the demands of this extremely competitive environment:

• Business Readiness: A survey to gauge agency readiness to participate in a producer development program.
• Funding: Financial strategies to jump start producer hiring.
• Sourcing: How to find talent and service providers who operate in this space.
• Testing: Critical aspects to evaluate role-fit and ensure a successful hire.
• Training: What and how your Network can access training for producer development and producer retention.
• Measuring: The plan to monitor results and progress through peer advisory groups for new producers.