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During turbulent times, financial circumstances change frequently, and carriers often make changes to their policies as they adapt to the quickly changing economic landscape. Building solid relationships is especially important for independent insurance agents during these times, as they can build loyalty and commitment with current clients as well as peers. Strong bonds can lead to increased referrals, better client retention, and new opportunities to collaborate with other professionals in the industry. Here are some tips for fostering relationships with clients and peers.    Provide Exceptional Customer Service First and foremost, be sure to deliver outstanding service to your clients....

In an era where climate change occupies the thoughts of many, independent insurance agents face a difficult task. Not only do they need to protect the interests of their clients, they also need to align their business practices with climate change goals. Whether these changes encompass going paperless, minimizing unnecessary risk, or allocating a certain percentage of dollars to climate-related non-profits, here are eight ways to leverage technology in fulfilling climate change commitments.   Use Digital Platforms As climate risks and regulations continuously change, streamlining and automating can improve an insurer’s ability to “keep up with the times.” It can...

In 2022, the United States Environmental Protection Agency (EPA) released a new set of advisories on PFAS found in drinking water. The EPA also allocated large funds to tackle these and other "emerging contaminants" due to the risks they pose to public health. It’s a well-known fact that these chemicals persist in the environment and in our bodies, taking “forever” to break down.    What Are PFAS and What’s The Potential Harm?  PFAS stands for per- and polyfluoroalkyl substances. They are a group of man-made chemicals widely used in various industrial and consumer products since the 1940s. Currently, there are...

In a hard market, there’s a market cycle of high demand for coverage coupled with a reduced supply. This decrease in supply may be due to several factors, including an increase in weather-related losses, rising labor costs, and supply chain shortages. When insurance premiums increase to reflect the hard market, and underwriting criteria become stricter, it’s time to pivot and adapt to the changing landscape. Insurers can continue to thrive during these challenges by implementing several key strategies.   Risk Selection and Underwriting Discipline In a hard market, insurers should focus on improving their risk selection and underwriting processes. This...

As summer quickly approaches, most people welcome the change in pace and increase in activities and family gatherings, including road trips, boating on the lake, waterskiing, campfires, and more. Unfortunately, with all these fun summer activities comes all kinds of risks. Here are some of the most common claims that come in over the summer months and what to anticipate over the summer months of 2023.     Top Claims Over The Summer Months  Each summer, people break up their usual routines and seek out different places and experiences. Unfortunately, sometimes those adventures lead to injuries and damage. Some of these...