It's the time of year for introspection and an emotional mix of regrets and optimism--all of which could account for seasonal depression and holiday drinking, especially this year.
If you're an editor, it's also time to put together the obligatory retrospective list of the year's top stories. To avoid adding to the clutter, I'm going to run down only a few of the trends and topics we saw, and the ones that will have the most traction in 2010.
Healthcare--ad nauseam. We knew it was going to be big, but few of us expected it to take precedence over virtually every other problem facing Congress. Looking ahead: With all of the contention surrounding the current versions of legislation, I'll bet this doesn't settle until first quarter 2010.
Fallout from executive salaries and bonuses. It's the consumer hot button that keeps getting pushed, especially when the recipients are with companies that received a federal bailout. Looking ahead: Curbs on compensation will most likely be part of the federal financial reform that comes down the pike next year.
The social media explosion. Social media for the insurance industry gained big momentum this year. According to an exclusive survey, more than 22 percent of our readers have a social media presence, and almost another 20 percent are considering it. Looking ahead: More fine tuning such as formal policies on usage, and blending social media into a regular part of the marketing/advertising mix.
The hard market that wasn't. Early last year, many experts predicted the hard insurance market was imminent. By time we interviewed for our Review & Outlook issue, few would venture a guess of when the market would turn hard. Looking ahead: A turnaround occurring midyear 2010?
Growing green insurance. With state and federal mandates in place for the adoption of green building techniques and materials, insurers are gearing up to deliver new products and services to this niche. Looking ahead: If they haven't already, most insurers will develop a presence here, and most agents will see increased demands for coverage from their customers.
The pandemic panic. Flu made headlines in the spring and again in the fall, as both swine and seasonal flu hit workforces hard. Looking ahead: Smart agents and brokers will use the development of disaster management programs for clients as another tool for new business and retention.
The good get better. Congratulations--you survived one of the worst business years since the Great Depression. Looking ahead: Smarter automation, creative consulting, a focus on specialties and deep customer focus will keep survivors in business, and position them for real success when things get better.
Happy holidays and happy New Year!
