INSURANCE agencies face two significant challenges today: developing successful producers and establishing strong management/ leadership. These challenges are hurdles that successful agencies must clear. Perhaps leaping over them would be easier if
MILLIONS of copies of management books have been sold in the last two decades, making some business authors second only to rock stars and cover girls as celebrities. People have spent billions on these books. Most buyers probably have actually read
Is benchmarking important? Well, yes and no. Benchmarking is useful for identifying possible weaknesses in an agency and for comparing it with a group of other agencies. Using benchmarks for other purposes, however, can cause problems. For example,
WHEN it comes to developing new producers, our industry has a dismal record. Thankfully, several new producer training schools are now available to help correct this weakness. A huge problem still plagues the process, though. Very little guidance or
A report issued last year by Marsh & McLennan warned of a growing gap between insureds' liability risk and their corresponding levels of insurance coverage. An article in the Sept. 8, 2003, issue of Insurance Day stated, "According to the report,
Much has been written and spoken about agency valuations. In all the discussion, though, a few subtle points- critical to protecting an owner's investment in his or her agency-often are overlooked. Who will read the valuation report? Unless otherwise