Monday, January 28 | 1:00 PM
How Next Generation Agents and Networks Must Adapt to Thrive
Mark Purowitz, Senior Partner, Deloitte Consulting LLP
We live in an era of unprecedented change and the insurance industry is trying to figure out one question: How will the changing forces impacting our lives affect our business? We will examine that question in the context of how we live, how we move, and how we work – as the agent/broker sits right in the middle of that disconnected ecosystem. The future of how we live, move, and work will fundamentally shift the distribution of risk and accelerate product innovation which will impact the role of agents and brokers. With all of the conversation about the market moving towards a direct model, the role of the agent/broker is even more important in an increasingly digital world to provide customer value along the journey from self-directed to guided.
What does this mean for agents, and networks of the future? Attend the session and find out.
Mark Purowitz is a Senior Partner in the Financial Services practice of Deloitte Consulting LLP. He has over 30 years of broad financial services industry and consulting experience. He focuses his time now on helping Insurance clients think about organic and inorganic growth, consider the impacts of growth on operating model design and customer experience, develop new digital-enabled business models, and M&A strategy, planning and execution.
Monday, January 28 | 3:30 PM
Best Practice Technology for Networks
A.J. Lovitt, Combined Agents of America
What should networks focus on as they evaluate their future technology decisions?
With all of the issues facing agents, networks and carriers, technology is often overlooked and misunderstood. Today agencies and carriers are arming themselves with more and more technology, however many are frustrated and do not see the expected return on investment. Technology is an essential tool, but many networks lack technology options. The goal for this presentation is to discuss what best practice technology looks like for networks and how to achieve this. The presentation will cover:
- Current State of Technology: “Fragmentation Dilemma” – Complex Horizontal Management (many to many)
- Data: Who Owns It and How Accurate is It?
- Platform Strategy: Enable Future Capabilities via “Open Architecture Innovation”
- What to look for in Technology: The Three Core Value Domain
- Collaborative Planning
- Operational Efficiencies
- Benchmarking
Monday, January 28 | 4:00 PM
Technology Presentations
Bold Penguin
Chris Peabody
Bold Penguin is an insurtech innovator from Columbus, Ohio that develops B2B software used by insurance agents and brokers, as well as insurance companies, to break through the confusion and complexity of the commercial insurance landscape. We don’t sell insurance ourselves; instead we help our customers rapidly increase the speed from quote to bind, allowing them to write commercial insurance profitably.
EZLynx
Brady Polansky, CPCU, VP of Agency Relationships
EZLynx’s ONE PLATFORM solution for networks and their members innovates sales pipeline management, rating, retention management, analytics, commissions, member management, and much more. Nearly every network already relies on portions of EZLynx’s platform to efficiently run their operations. Imagine the power and performance of a single solution.
TWFG/Evolution Agency Management
Gordy Bunch
TWFG utilizes eVo to manage our retail and network agency distribution models. The system is cloud based integrated with DocuSign, Outlook, full general ledger, agency bill, credit card payments, agency commission, producer commission, premium finance, texting, marketing, consumer application, encryption, IVANS Download with a secured hierarchical structure allowing our agents to utilize one agency management system. TWFG’s 360 retail locations and 3,000 independent agents are all managed utilizing eVo Agency Management Systems.
Vertafore
Brett Chenail
Vertafore has the technology designed to support insurance networks with industry leading technology. Beyond just agency management, the breadth of technology offerings provides insurance networks with the tools needed to drive maximum growth. The #1 personal lines rater PLRating, insurance knowledge base ReferenceConnect, and integrated 3rd party technology such as DocuSign, help networks to attract and develop agencies of the future.
Tuesday, January 29 | 9:00 AM
Best Practice Considerations for Agency Networks
Chris Burand, President, Burand & Associates, LLC
The insurance distribution industry is changing more quickly today than any time in the past 100 years. Thousands of acquisitions consolidating distributors, new InsureTech distribution, a continuing soft market and the pressure on agents to grow at reduced compensation has created a tremendous opportunity for networks, aggregators and clusters who can show value to the carriers with whom they partner.
This presentation will outline how best practice networks:
- Reduce acquisition costs to carriers.
- Increase sales and efficiency.
- Monitor carrier relationships to ensure common objectives are met.
- Keep member agents highly motivated and rewarded for success.
The networks who achieve these goals will be rewarded. Attend this session to measure the efficiency of your current operation and consider strategies for improvement.
Chris Burand is president and owner of Burand & Associates, LLC, a management consulting firm specializing in the property-casualty insurance industry. Chris is recognized as a leading consultant for agency valuations, producer compensation plans, and E&O carrier approved E&O procedure reviews. He also provides the acclaimed Contingency Contract Analysis® service and has the largest database and knowledge of contingency contracts in the insurance industry.
Tuesday, January 29 | 1:30 PM
Addressing the Challenge of Agent Acquisition and Retention
Diane Wagner, First Choice Agents Alliance
Shawn Walker, Premier Group Insurance
Andrew Caldwell, Smart Choice
John Robinson, Voldico
Ted Rusinoff, Secured Advantage
Steve Pearson, ISU Insurance Agency Network (Moderator)
Successfully acquiring and retaining agents is a core function of any successful and profitable insurance agency network. Come hear a panel of your network peers address their solutions for this important issue and leave with a strategy to improve your networks acquisition and retention efforts.
Expect to hear information regarding:
- Finding best fit agents
- Due diligence requirements
- Successful onboarding
- Ensuring agency integration and success
- Perpetuation planning to retain business
Tuesday, January 29 | 3:00 PM
Building an Acquisition Support System for Your Agency Members
Kelly Drouillard, Live Oak Bank
Agency Acquisitions and Perpetuation within the network can grow and retain quality premium. Does your network have a road map and tools to assist agency members? A clear process can be realistic and cost effective enabling acquisitions and perpetuation. This workshop will outline specific steps to build and offer an effective Acquisition and Perpetuation Support function for your network.
Participants can expect information regarding;
- Identifying qualified buyers in your network
- Agency valuation & Due diligence assistance
- Essential elements of buy / sell agreements
- Resources available to assist networks
Join us for a pragmatic approach to providing agency members acquisition and perpetuation support to grow and preserve your network volume. Tools, templates, and valuation metrics will be provided.
Kelly Drouillard CPA, CPCU is the General Manager of Insurance at Live Oak Bank, leading insurance industry lending and the strategic formation of Insurance Networks Alliance. She has more than 25 years experience in the Insurance industry. Kelly has completed financing for hundreds of agency, carrier, and specialty distribution transactions. Her career includes tenure with KPMG, Dodson Group, GE Insurance Solutions (Employers Reinsurance), Brooke Capital Advisors, co-founder of Quivira Capital, and Oak Street Funding. Kelly has been a broadly licensed agent for P&C and E&S. Kelly is a graduate of Kansas State University and is an active angel investor in industries beyond insurance.
Tuesday, January 29 | 4:00 PM
The Future of Insurance Distribution
Matthew Sternat, Conning Inc.
Paul Morrissette, Chubb
Sabrina Freiberg, Nationwide
Kim Garland, State Auto
John McCaleb, The Hartford
John Tiene, Agency Network Exchange LLC (Moderator)
Matthew Sternat from Conning Inc. will be providing the introduction for an INA panel discussion on the future of insurance distribution. This panel presentation examines recent research from Conning Inc. on the factors influencing distribution and how this could affect Insurance Networks and their retail agent members. Hear the perspectives of five influential markets about how distribution might evolve for their businesses.
View the future of your networks distribution through the lens of this research and Carrier insight about how best to prepare for success in a changing industry.