Independent agents face several obstacles connected to and separate from the current economic challenges, but agents' ability to innovate and adapt will help them persevere, said D. Scott Liebert, president of the Professional Insurance Agents of New York State Inc., in his inaugural speech.
Speaking at PIANY's sixth-annual Hudson Valley Regional Awareness Program, Mr. Liebert said, "Make no mistake, we face challenges that existed long before the financial meltdown…. We face unprecedented competition in a painfully soft market, zealous regulators and policymakers, and an unfairly tarnished image."
However, agents can use marketplace opportunities to redefine themselves. "We have the chance to have an impact on an industry and economy that is undergoing a reformation," he said. "As agents, we are naturally innovative and entrepreneurial. Our ability to embrace change and evolve will carry us though this difficult economic period and beyond."
Speaking to strengths that can be leveraged in the current market, Mr. Liebert said, "Professional insurance agents are linked to their neighbors as reliable friends, with reputations we've earned as being ethical and committed to our clients…and only professional agents offer the power of choice to those clients."
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