Despite having to cope with a stubbornly soft property-casualty market and the shockwaves of a faltering economy, the three winners in the seventh annual National Underwriter "Commercial Insurance Agency of the Year" award program refused to abandon the full-service risk management approach that sets them apart from the competition. Indeed, the ability to keep risk management atop the agenda is what makes them role models for their peers.
Their agency profiles appear in NU's Sept. 29 edition. However, as part of the award program, NU flew principals from this year's winning agencies to New York City in late September to discuss how they plan to overcome the threats and seize the opportunities ahead.
Read on for an edited account of NU's State Of The Agent Roundtable discussion.
Over the last seven years, when three winners are named in the annual National Underwriter "Commercial Insurance Agency Of The Year" award program, nearly every firm cites employee benefit sales as a key component of their success. This year was no different. The trio of 2008 winners all noted a commitment to selling benefits products during NU's recent "State Of The Independent Agent" Roundtable in New York City. Read more.
To identify your business as merely an "insurance agency" these days could prove fatal as clients seek far more expertise than just policy placement–demanding risk management support to limit exposures, the ability to tap alternative markets when necessary, and an aggressive claims advocate if losses occur. That full-service philosophy helped J. Smith Lanier & Company become the "2008 Champion" in the National Underwriter Commercial Insurance Agency of the Year award program. Read more
How might an agency grow from a small, two-man operation with one office, to one with multiple locations, partnership relationships around the world and over $94 million in commercial lines premium volume? Basically, by focusing on helping clients make the right decisions for the long term, rather than being captives of the pricing cycle, according to Lassiter-Ware Insurance, one of the three winners in this year's National Underwriter Commercial Insurance Agency of the Year award program. Read more.
Keeping the customer satisfied is easier said than done in a soft market, but not if the client buys into a comprehensive loss control plan to keep the cost of risk under control, according to Roger Bouchard Insurance, which earned itself an Honorable Mention as one of the trio of winners in this year's National Underwriter Commercial Insurance Agency of the Year award program. Read more.
While J. Smith Lanier stresses service to clients as the backbone of its success, the agency's support of community philanthropy is an equally important aspect of its mission to establish a stellar reputation in its markets. Read more.
Since being named the "2007 Champion" in the National Underwriter Commercial Insurance Agency of the Year award program, Cottingham & Butler has continued to grow despite the challenges of a soft market and souring economy. Read more.
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