Agents Band Together For Answers
Information is a critical commodity for any independent insurance agency or brokerage. Knowing whom to turn to with questions, that your source is experienced and that the answer is reliable can be a tremendous advantage.
A producer?s telephone directory remains the primary contact list, but it has its limits. Calling individuals can be time consuming, especially when it leads to a series of messages and missed calls. And the contact may not have all the answers, which can lead to being referred to another contact and yet another round of messages.
E-mail helps. It can be written and read when it is convenient, and there's less worry about missing contacts. But, again, one contact may lead to another, who may or may not have the expertise the inquirer is looking for.
The solution to all of this could be a databank containing answers to frequently asked questions or providing access to a broad range of experts. One network partnering group of insurance brokers?Menlo Park, Calif.-based RiskProNet International Inc. (www.riskpronet.com)?is seeking to build such a databank.
The association, explains Gary Normington, executive director of the group, involves 28 brokerage firms throughout the U.S. and Canada who have committed to assisting one another with questions and issues in placing business. The members not only help one another by answering questions, but also by helping to place business for each another.
The group as a whole represents about $5 billion in premium, said Mr. Normington, and is composed of large, regional insurance agencies that average about 100 employees who deal primarily in property-casualty insurance and employee benefits.
"What is unique about RiskProNet is that it is a group of partners whose mission is to foster communication and share knowledge and ideas through the members," he explained.
"I've never been with an association that has shown [as much of] a commitment to each other as RiskProNet," said Ed Williamson, senior vice president of Reynolds & Reynolds, Inc. in Des Moines, Iowa.
"We have been with other types of associations over the years, but we saw in RiskProNet the ability to partner with agencies similar to us, to give us the capability to work with accounts around the country and to draw on one another's expertise. This has put us in the position to compete with the bigger brokers," he said.
"It has made us a more professional organization stronger, well-rounded, more value added to a client," said Lisa Heppler, vice president of Wick Pilcher Insurance Inc., in Phoenix. "We work with a lot of big, name-brand companies, and it helps us to have that professional image to be able to meet all of their needs."
"Any RiskProNet member's clients are much better served by having an association with that brokerage firm," observed Frank R. Krisanits, chief operating officer at Diversified Risk Insurance Brokers, one of the three founding firms, based in Emeryville, Calif. "There is no question that when you look at what we're able to do from a competitive standpoint, we are right up there with the Marsh's and Aon's in terms of being able to respond effectively and timely."
Among the advantages of membership for agents is the utilization of technology to communicate. E-mail is the primary contact mechanism for the group, but it is arranged in such a way that members actually can target specialists within the membership instead of sending an e-mail blast which might be misdirected, explained Mr. Normington.
There are three stages of contact an individual can go through. The first is a principal's list where partners can get back to one anther. The second is a site map for regional contact information. The third is an all-members list containing individuals' locations and information about their specialties.
To make sure the contact information is correct individual members have a designated RiskProNet Web Administrator to update contact information.
There is also a separate e-mail contact loop to IBA-International, an international insurance broker group outside of the U.S., which gives the RiskProNet broker members an overseas presence, explained Mr. Normington.
"Even when we were beginning to form, we saw technology as a key item to make RiskProNet more successful," noted Mr. Williamson of Reynolds & Reynolds. "We started with the platform to communicate by e-mail and that idea was extremely attractive to us. The question was how do you communicate with lots of experts? How do you get in touch with each other and access that expertise? In the past, one would use the phone, but unless you had a very good relationship with your competitor, no one would share information. With this group, we do not compete with one another, or at least try not to. There is an open sharing of ideas."
To further enhance the value of the information, RiskProNet is developing an electronic library for members where answers to past questions will be stored, further enhancing the value of the information system.
Members in RiskProNet also benefit in terms of marketing material. Mr. Williamson explained that members can access promotional material through the RiskProNet Web site that can be customized by the individual broker. The materials, such as brochures, allow firms to promote themselves. The materials also tell the RiskProNet story and how the organization can benefit firms.
Reproduced from National Underwriter Edition, July 1, 2004. Copyright 2004 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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