Ownership, Not Just 'Inclusion'
To The Editor:
Claudette Kenmir and Spencer Donkins cover story, "Keep Carriers Courting You–Even in a Tight Market," in your May 5 edition provides several proactive strategies for effectively adapting to an unpredictable environment.
In preparing for the next generation of American entrepreneurs, the article suggests that independent insurance agencies become inclusive in their hiring practices if they are to sell to people who represent America. This opinion is widespread in the industry.
An alternative for consideration recognizes non-discrimination in employment as commendable, and it embraces the thought that true inclusion occurs only when there is also non-discrimination in minority business ownership opportunities.
Different communities have unique characteristics that are central to their primary sense of identity and value. It is not necessary to sensitize a minority-owned agency to change its perception of minority clients.
One who lives in a community underwrites on the basis of actual exposures, and understanding the differences in social location will help make the underwriting and distribution of insurance in emerging markets more honest and helpful.
With the present paucity of minority independent insurance agents, it requires an enlightened viewpoint to design an appropriate strategy that capitalizes on the opportunities presented by this evolving insurance market.
When prospective agency appointments are absent the standard financial criteria for agency recognition, it makes sense to put together a financial foundation and develop those minority agencies capable of successfully participating in the new economy.
When there are individuals who bring plenty to the party in terms of knowledge, skills, community connections, experience and tenacity, it profits a companys interest to establish a policy that underwrites the automation and infrastructure needs of "startup" agencies.
Non-discrimination–whether in employment, ownership, or both–is a capital opportunity, and to remain indifferent is not only a lost opportunity but also an injustice.
W. M. Wilson, ARM
Manager
Camelot Insurance Agency
Detroit, Mich.
Reproduced from National Underwriter Edition, June 16, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved. Copyright in this article as an independent work may be held by the author.
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