FYI Express - October 2014

More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

EXPRESS “What You Don’t Know Can’t Help You!” … Eddie K. Emmett, Editor / Publisher

Free Internet Marketing Boot Camp In This Edition FREE INTERNET M ARKETING BOOT CAMP ............................................ 1 HOW TO CLAIM GOOGLE, YAHOO & BING LOCAL SEARCH FOR FREE ..... 1 HOW TO CREATE FREE YOUTUBE PROMOTIONAL & CUSTOMER TESTIMONIAL VIDEOS. ..................... 2

Your entire office is invited to attend “If It’s Free … It’s for Me!” for free.

You can earn up to 3 hours Ethics CE, meet with all the Company Reps and enjoy our Hospitality Suite.

All compliments of AccuAuto.

ETHICAL INSURANCE DILEMMAS ..... 4 R.I.P. - RETIRED IN PLACE............ 10 THE WAY TO WEALTH .................. 18 WHAT CAN HAPPEN WHEN YOU EXCEED YOUR CARRIER’S BINDING AUTHORITY? ................................ 22

th

Thursday, November 13 at Sea Palms Resort on St. Simons Island.

Bring your laptops & iPads for a “Hands-On” Boot Camp.

You’ll learn …

GIAA Fall Conference 2014

How to claim Google, Yahoo & Bing Local Search for free

Relax … Learn … Network

FYI Express

All attendees get the link to this 23 page “How To” Booklet

Registration is mandatory so we will have enough seats on hand.

“Come Coast Awhile” November 13th – 15th on St. Simons Island, GA

ses has resulted in a dramatic change in search results compared to the past.

Now, independent insurance agencies have one huge edge over the national competitors: a local address.

HOW TO GET POSITIVE REVIEWS AND CITATIONS IN GOOGLE, YAHOO & BING FOR FREE .............................. 2 GIAA CONFERENCE 2014 .............. 3

The Big Three’s focus on local busines

Are you taking advantage of Google, Yahoo and Bing’s new focus on Local Search?

Page 1

Continued on page 2

October 2014

More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

“Free Internet Marketing Boot Camp”

How to create a free Mobile Site You’ll learn how to easily create great-looking websites that are specially formatted for touch-screen viewing on smartphones.

Upload your logo, select your color scheme, and add your content. It's that simple!

Continued from page 1 How to create free YouTube promotional & customer testimonial videos.

Post them everywhere … on your website, Blog, Facebook, etc. I’ll show you how to set up a YouTube Channel.

Make your website and mobile web pages visually stimulating with images and video. Upload your own photos or graphics, or embed your favorite video clips from YouTube.

How to create QR (Quick Response) Codes for free Take your mobile website into the real world with QR codes that can be placed on just about anything that can be printed - advertisements, posters, brochures, mailers, business cards, whatever. Best of all, the program generates the QR codes for you and tracks their performance, so you know how often your codes are being scanned over time.

All attendees get the link to this “How To” Booklet

How to get positive reviews and citations in Google, Yahoo & Bing for free More and more consumers research online before they contact your insurance agency. Positive reviews (and the way you respond to negative reviews) are taken seriously.

How to create a free Niche website Why Niche Web Sites?

There are millions of insurance websites already on the Internet and there are thousands more being added every day. Those millions of sites and pages are your potential competition….unless you specialize. You don’t need to waste time and energy trying to compete. Niche websites are the way of ‘not competing’.

I’ll share 10 Ways for your agency to get positive reviews (plus a customized handout for your clients).

How to grade & improve your website & mobile site for free

Be a Laser Beam not a Flashlight

You make your money selling insurance not creating websites but it’s important that you know if the person you are paying to make your agency visible on the Internet is doing their job!

How to create a free E-mail Marketing Program Wouldn’t it be great if you sold every lead on the first call? This free program allows you to stay in touch with clients and to follow up with potential clients.

How to use Facebook, LinkedIn & Twitter for Business for free

How to create a free Electronic Mini-Billboard for your agency Put that unused computer monitor to use by creating a free slideshow of your insurance products and services. The free software and pictures are a snap to use!

FYI Express

Centralize all of your social media channels in one place for easy access to Facebook, Twitter, and LinkedIn. All attendees get the link to this “How To” Booklet Page 2

October 2014

“Come Coast Awhile” GIAA Fall Conference 2014 November 13th – 15th on St. Simons Island, GA

Relax … Learn … Network Where: Sea Palms Golf & Tennis Resort (http://www.seapalms.com) HU

When: November 13 - 15, 2014

HU

GIAA Member, Spouse & Staff: All Events: FREE …GIAA Membership has Its Advantages!

Non-GIAA Member: Pay only for the events you wish to attend (but it’s free if you join GIAA) All Event Package includes unmatched CE, Trade Fairs, Hospitality Suites and Luncheon.

Register Online at http://www.Georgia-Agents.com It’s a Beautiful Day at Sea Palms Come relax in the lush oasis that is Sea Palms Resort. Take a walk under ancient live oaks, where the ocean air mixes with a soft marsh breeze. Bike on the beach, play golf, tennis or just relax on your balcony overlooking the island’s natural beauty.

Deluxe Guestrooms as low as $99.00! Golf only $55.00!

GIAA has arranged a special room rate at Sea Palms Golf & Tennis Resort (http://www.seapalms.com) HU

UH

Call Sea Palms Resort Reservations at (800) 841-6268 and tell them you are with GIAA. Online Room Registration Information at www.Georgia-Agents.com HU

UH

GIAA Fall Conference 2014 Agenda

Thursday, November 13th

Friday, November 14th 8:30 a.m. – 11:30 a.m.: 3 hours Ethics CE

Plenty of time for a round of golf!

Personal Lines Jeopardy

If It’s Free … It’s for Me!

Test your knowledge in this brand-new seminar based upon the Jeopardy Game Show GIAA Member/ Staff attend for free / Non-Members pay $25.00

1:00 p.m – 3:00 p.m.: 3 hours Ethics (Part 1 of 2) Bring your laptops & iPads for “Hands-On” Training in Online Visibility, Social Media & Reputation Management.

Everyone attends for free compliments of AccuAuto

11:30 a.m. – 1:30 p.m.: Luncheon & Trade Fair GIAA Member & Staff attend for free Non-Members pay $15.00 1:30 p.m. – 4:30 p.m.: 3 hours P&C CE

Understanding Insurance for Small Business GIAA Member/ Staff attend for free / Non-Members pay $25.00 3:00 p.m. – 4:30 p.m.: Free Trade Fair

If It’s Free … It’s for Me!

6:00 p.m. – 1:00 a.m. Aggressive Dinner Cruise & Casino Everyone is Aggressive’s guest on Emerald Princess Cruise

4:30 p.m – 5:30 p.m.: 3 hours Ethics (Part 2 of 2) Learn how to create custom insurance agency videos Everyone attends for free compliments of AccuAuto 5:30 p.m. – 7:00 p.m.: Hospitality Suite Enjoy St. Simons Island … Dinner on your own Not a GIAA Member?

Join today for only $99.00 and all members of your staff enjoy Membership Benefits immediately!

Saturday, November 15th All Your CE in one Convention 8:30 a.m. – 10:3 a.m.: Personal Lines FAQ 24 hours CE (3 hours Ethics + 21 hours P&C) Complete your online study before convention then we will monitor your 50 question exam.

GIAA Member/ Staff attend for free / Non-Members pay $25.00

More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

s Case Study #2: Ethics & Commissions A client new to the agency has asked you to find them the best rate possible because they are on a limited income and really can’t afford to pay much for insurance. After quoting all of your companies you find one company whose rate is significantly lower than all of the rest. It is so much lower you can add a roadside assistance policy and still beat the rate they are currently paying. The additional coverage will not affect the down payment and it will only cause a slight increase in the monthly payments. Adding the coverage will significantly increase the amount of commission the agency will earn for the application. Do you attempt to sell the coverage?

Do you just add the coverage without a detailed explanation?

Ethical Insurance Dilemmas Ethics Interest

&

Conflicts

of

A conflict of interest happened when a personal or agency has a personal (usually financial in nature) incentive to act or make a decision that is not in the best interest of another party to whom such a duty is owed.

Profitable agencies are at the very nature a conflict for the consumer due to commissions.

To write a policy at a loss to the agency is not in the best interest of the employer.

Case Study #3: Ethics & Marital Status

What would you do?

Ms. Jones is applying for insurance on two cars in response to letters from the DMV. During the application interview she claims to be single, but you know she is married and her husband has an extensive driving record. And, you also know he routinely drives one of the vehicles.

Case Study #1: Ethics & Lienholder During the application interview you notice a lienholder on the bill of sale. It is a lienholder you know requires proof of insurance to secure his loans.

However, when you get to the coverage questions and the applicant sees the premiums he tells you that he doesn’t want comp and collision. He can’t afford the down payment. You explain that you noticed the lienholder on the bill of sale and know they will require comp and collision. He tells you the lienholder told him he did not have to buy full coverage. Do you challenge the applicant by calling the lienholder?

When you confront her with this information she claims she used to be married but they are separated.

The letters from the DMV only have her name on them.

Are you required to report the unlisted driver to the DMV? Do you report you suspicions to the insurance company? Should you even bind coverage for her if you believe she is not being truthful?

Continued on page 6

FYI Express

Page 4

October 2014

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More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

Case Study #4: Ethics & MVR

Come earn 3 hours free Ethics CE and share your thoughts on Thursday th afternoon, November 13 at Sea Palms Resort on St. Simons Island, GA.

A casual acquaintance you know from your son’s grade school has come into the office to apply for auto insurance. During the interview you are surprised when she answers the question about violations and accidents in the past three years by saying she has none. You know she was involved in an accident just three weeks ago in front of the school and from your point of view it looked like it was her fault.

Agency Management IT’S IN THE CARDS

You let the question go thinking the accident would appear on her MVR or CLUE report, but when you run the reports there is no claim or violation. There has obviously not been enough time for the accident to hit the reporting agencies. What do you do?

We all rely on our more experienced employees to help train the new hires. How well do they explain the step-by-step procedures?

Try this little experiment: After your new hire has been trained on a task, ask them to write down each step on numbered cards so their trainer may complete the task. It will become quickly evident in which areas a little more training is necessary!

Case Study #5: Ethics & the Lowest Rate If you use a comparative rater do you have to offer the lowest rate every time? If so, why? If not, why not?

Case Study #6: Ethics & the Absent Underwriter

Hang on to the cards with the finished written instructions to help in training the next employee (or for this one to refer back to!)

You know that the insurance company has guidelines about limited business use. You have the opportunity to write a new account but the applicant has stated business use that slightly exceeds the company’s guidelines.

Customer Service

The underwriter you normally use has granted several exceptions of this nature in the past.

Unfortunately the underwriter is on a two week vacation and the applicant’s current policy expires in 3 days.

Kindness is a hard thing to give away. It keeps coming back to you!

Courtesy & consideration for your associates, your employer and visitors is a must.

The substitute underwriter is known to “go by the book” and not give exceptions.

Be kind to everyone you meet. You have no idea what's going on in their lives and you might just be the answer to their prayers.

Do you rationalize “if my regular underwriter were here, I’d get the exception” and submit the app with incorrect information? Is anyone put at a disadvantage by this action? If the company regularly makes underwriting exceptions, can the agent assume they will make the exception in this case? Would this be grounds for material misrepresentation or E&O? FYI Express

No one ever complained about being treated too nicely.

Continued on page 8

Page 6

October 2014

Georgia e gia Geo gia Georgia Georgia Geo gia Georgia Homeowners

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More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

OK, even if you did not answer the first three questions, correctly, you still have one more chance to show your abilities.

Employee / Employer Relationships Test Your Employer Management IQ Test

4. There is a river you must cross. But it is inhabited by crocodiles. How do you manage it?

The following short quiz consists of 4 questions and (allegedly) tells whether you are truly ready for 'management'.

The correct answer is: You swim across. All the Crocodiles are attending the Animal Meeting!

1. How do you put a giraffe into a refrigerator?

The correct answer is: Open the refrigerator, put in the giraffe and close the door.

This tests whether you learn quickly from your mistakes.

This question tests whether you tend to do simple things in an overly complicated way.

According to a Leading Management Consulting firm, around 90% of the management professionals they tested got all 4 questions wrong.

2. How do you put an elephant into a refrigerator?

The wrong answer is: Open the refrigerator, put in the elephant and close the door.

The correct answer is: Open the refrigerator, take out the giraffe, put in the elephant and close the door.

Aggressive Insurance invites all Georgia Agents & CSRs to be their guest for Emerald Princess Dinner & Casino Cruise

This tests your ability to think through the repercussions of your actions.

Friday, Nov 14th

3. The Lion King is hosting an animal conference; all the animals attend except one. Which animal does not attend?

‌

Free Registration at

https://agent-kickstart2015.eventbrite.com

The correct answer is: The Elephant. The Elephant is in the refrigerator.

This tests your memory.

FYI Express

Page 8

October 2014

Introduces New Mobile App

CELESTITE POLICY SCAN - Photo Upload Made Easy

Simplifying the new policy submission or new vehicle endorsement process by allowing Insurance Agents to capture required photos and upload them directly onto the specific policy.

AVAILABLE NOW FOR IPHONE & ANDROID SEARCH For - Celestite Policy Scan



Marketing Jim Childs (770) 840-5077 Jim.Childs@aggressiveusa.com Janice Cantrell (912) 398-5295 Janice.Cantrell@aggressiveusa.com David Emmett (770) 490-7861 David.Emmett@aggressiveusa.com

More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

R.I.P. - Retired in Place

By Al Diamond of Agency Consulting, Inc.

Much of our work at Agency Consulting Group, Inc. revolves around agency perpetuation. We help families pass ownership, transfer ownership to employees, merge agencies, and we sell them at the most favorable prices available. One of the stumbling blocks we encounter in this process is an employee (or owner) who wishes to “Retire In Place”. That is, they want to be relieved of the pressures of: Pick 1 or More: __ Management __ Dealing with companies __ Dealing with customers __ Dealing with employees __ Selling __ Paperwork __ Change However, they will graciously stay on to “help with the transition.” How do you deal with an owner or a key employee who desires to stay with the firm with less responsibility? How does he affect the morale, value, and cash flow of the agency as it attempts to change to a new set of owners? The way you answer these questions can spell the difference between success and failure of perpetuation plans in the short and long term.

In the case of an employee, the answer should be simple. Regardless of the value of that employee over the years, the future compensation of that employee is determined by his/her value to the agency in the future – not in the past. While this sounds like a simple answer, it is not so simple for loyal owners who feel that they owe much to employees who have been with them for many years. That loyalty does not extend to the new owners after a sale or perpetuation and they will not want the liability of maintaining an employee who served the old owners well, but is no longer is productive in his/her role.

The solution is by defining the productive value of an employee’s role as it transitions. If a producer decides to RIP he may fit into the role of Account Executive, responsible for the maintenance of a book of business, but no longer expected to generate new business goals.

This is certainly a valued role, but not one valued as highly as that of a producer. The compensation level should be adjusted accordingly. A CSR who decides to RIP may be qualified to process, but no longer wishes the responsibility of customer contact. She should also be given the opportunity to remain a viable and valued employee, but at an adjusted compensation.

FYI Express

In both cases, the employee’s desire to diminish his/her role is accommodated, but not at an excessive cost to the agency.

A more prevalent problem is when employees (or an owner) feel that they have ‘paid their dues’ and now wish to maintain their compensation levels and image in the agency, but no longer want to do the job for which they were paid in the past. No agency can afford to maintain ‘dead wood’ in the employee ranks, regardless of past service. The employee was PAID for that past service.

Whether employee or owner, the greatest impact on the agency from an RIP is not in their financial cost. The greatest impact to the agency is in the cost to the morale of the employees who remain to manage and operate the agency. They will either immediately or eventually feel cheated when they must, in effect, do the work while the employee (or the owner) continues to be paid without the responsibilities that formerly came with the job. This cannot be permitted in the employee ranks. The agency owner has the ability to take a pay cut and replace his efforts with a new employee hired for that purpose.

However, even owners will find that employees react much better to working and productive owners than they do to owners who are perceived as RIP, living off the efforts of the agency’s other employees.

Another part of the RIP problem with respect to owners occurs in the sale of the agency following which the old owners remain with the agency for a time to “transition” the accounts. If their role is not truly productive and active, they will be perceived by both the new owners and by the employees as RIP. The simplest approach in the case of a buy-out is to retain the owner for a specified period for the ‘transition.’

If both of you know that he will be in place for one year and one year only, it relieves the pressure of carrying his salary ad infinitum. This is usually an excellent idea because he can assist in the renewal process of some of his business under new ownership.

But how do you deal with the partner who just wants to ‘scale down?’ This may or may not include sale of stock. We fell that if any owner wishes to change his work efforts, it must be correlated with a change in compensation, regardless of the ownership of the agency. You get paid for what you do now, not for what you have done over the last forty years. The reward for past efforts lies in the enhanced value of the asset. If the scale down is in concert with the sale of his stock, the new owners must be assured that the selling owner intends to scale down his efforts, not coast. This requires the execution of a new job description, portraying the new duties and responsibilities of the job.

Continued on page 12 Page 10

October 2014

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More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

R.I.P. - Retired in Place Continued from page 10 Obviously, an owner or employee who has ‘Retired in Place’ negatively affects your cash flow. You are, in effect, paying someone without an appropriate return on the investment. The agency’s value is not affected unless the individual is RIP with the added benefit of an employment agreement. Unfortunately, many of the buyouts and acquisitions that we see include an employment agreement that not only legally binds the agency to payments, but simultaneously lowers the value of the business by the gross amount due in the employment agreement. This is not a negative implication if the agreement supports an active, valuable employee. However, if the agreement supports an RIP, you are being hit by the double whammy of lowered cash flow and reduced value.

Finally, an RIP will certainly affect the morale in the office. Imagine a busy office with one individual having no responsibilities. In the best case, he simply would not be visible while everyone else is working. In the worst case, he could disrupt the office with socializing or with pet projects that yield no return for the business.

FYI Express

Whether the individual is a family member, partner or formerly a key employee, the other employees will know that he is being carried. This will lower morale and cause frustration to the other hard-working employees in your business.

If the RIP situation may arise in your office as the ownership transfers, control the situation by defining the value of the retiring owner. His value in the business will be coming to him in the payout of the stock being sold.

His future value to the firm must be decided by determining those duties and responsibilities that he is willing to assume or maintain. A job description and measurable objectives will go a long way in resolving the difficulties before they arise.

Reprinted from The PIPELINE, the national newsletter for agency principals. The PIPELINE is published by Agency Consulting Group, Inc., a leading consulting firm for independent agents in the U.S. for over 30 years. Call 800-779-2430, Email info@agencyconsulting.com, or visit www.agencyconsulting.com for information about the content of this article or PIPELINE subscription information.

Page 12

October 2014

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More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

Quotes you don't want to see on your annual reviews: 1. Since my last report, this employee has reached rock bottom and has started to dig.

17. He brings a lot of joy whenever he leaves the room.

18. When his IQ reaches 50, he should sell.

2. I would not allow this employee to breed.

3. This employee is really not so much of a has-been but more of a definite won't-be.

19. If you see two people talking, and one looks bored, he is the other one.

4. Works well when under constant supervision and cornered like a rat in a trap.

20. A photographic memory but with the lens cover glued on.

5. When she opens her mouth, it seems that it is only to change feet.

6. He would be out of his depth in a parking lot puddle.

21. A prime candidate for natural de-selection.

22. Donated his brain to science before he was done using it.

23. Gates are down, the lights are flashing but the train is not coming.

7. This young lady has delusions of adequacy.

8. He sets low personal standards and then consistently fails to achieve them.

24. Has two brains: one is lost and the other is out looking for it.

9. This employee is depriving a village somewhere of an idiot.

25. If he were any more stupid, he would have to be watered twice a week.

10. This employee should go far, and the sooner he starts the better.

26. If you give him a penny for his thoughts, you would get change.

11. Got a full six-pack but lacks the plastic thingy to hold it all together.

27. If you stand close enough to him, you can hear the ocean.

12. A gross ignoramus -- 144 times worse than an ordinary ignoramus.

28. It is hard to believe that he beat out 1,000,000 other sperm.

29. One neuron short of a synapse.

13. He does not have ulcers, but he is a carrier.

14. I would like to go hunting with him sometime.

15. He has been working with glue too much.

30. Some drink from the fountain of knowledge; he only gargled.

31. Takes him two hours to watch 60 Minutes.

16. He would argue with a signpost.

“Come Coast Awhile” GIAA Fall Conference 2014 November 13th – 15th on St. Simons Island, GA

Relax … Learn … Network Info at www.Georgia-Agents.com Rooms only $99.00

FYI Express

Golf only $55.00

Page 16

24 hours CE for $25.00

October 2014

More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com

The Way to Wealth

By Ben Franklin in 1758, originally published as a preface to Poor Richard’s Almanac

We may make these times better, if we bestir ourselves. Industry need not wish, and he who lives upon hope will die fasting. There are no gains without pains.

He that hath a trade, hath an estate; and he that hath a calling, hath an office of profit and honour. But then the trade must be worked at, and the calling well followed, or neither the estate nor the office will enable us to pay our taxes.

If we are industrious we shall never starve; for, ‘at the working man’s house hunger looks in, but dares not enter’. Nor will the bailiff or the constable enter, for ‘Industry pays debts, while despair increaseth them.’

Diligence is the mother of good luck, and God gives all things to industry. Then plough deep, while sluggards sleep, and you shall have corn to sell and keep.

Friends, the taxes are, indeed, very heavy; and, if those laid on by the government were the only ones we had to pay, we might easily discharge them; but we have many others, and much more grievous to some of us.

We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly; and from these taxes the commissioners cannot ease us or deliver us, by allowing an abatement.

However, let us hearken to some good advice and something may be done for us; ‘God helps them that helps themselves,’ as Poor Richard says in his advice below.

It would be thought a hard government that should tax its people one tenth part of their time, to be employed in its service: But idleness taxes many of us much more; sloth, by bringing on diseases, absolutely shortens life. ‘Sloth, like rust, consumes faster than labour wears, while the used key is always bright,’ as Poor Richard says. ‘But dost thou love life, then do not squander time, for that is the stuff life is made of,’ he adds.

How much more than is necessary If time be of all things the most precious, wasting time must be ‘the greatest prodigality’; since lost time is never found again; and what we call time enough always proves little enough. Let us then up and be doing, and doing to the purpose. So by diligence shall we do more with less perplexity.

Sloth makes all things difficult, but industry all easy; and he that riseth late, must trot all day, and shall scarce overtake his business at night; while laziness travels so slowly, that poverty soon overtakes him. Drive thy business, let not that drive thee; and early to bed, and early to rise, makes man healthy, wealthy, and wise.

FYI Express

Work while it is called today, for you know not how much you may be hindered tomorrow.

‘One today is worth two tomorrows,’ as Poor Richard says; and farther, ‘Never leave that till tomorrow, which you can do today.’

If you were a servant, would you not be ashamed that a good master should catch you idle? Are you then your own master? Be ashamed to catch yourself idle when there is so much to be done for yourself, your family, and your country.

Handle your tools without mittens: Remember, that ‘The cat in gloves catches no mice.’

It is true, there is much to be done, and perhaps you are weak handed; but stick to it steadily, and you will see great effects; for ‘Constant dropping wears away stones; and by diligence and patience the mouse ate in two the cable; and little strokes fell great oaks.’

Methinks I hear some of you say, ‘Must a man afford himself no leisure?’

I will tell thee, my friend, what poor Richard says; ‘Employ thy time well, if thou meanest to gain leisure; and, since thou are not sure of a minute, throw not away an hour.’

Leisure is the time for doing something useful; this leisure the diligent man will obtain, but the lazy man never; for, ‘A life of leisure and a life of laziness are two things. Many, without labour, would live by their wits only, but they break for want of stock;’ whereas industry gives comfort, and plenty, and respect.

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October 2014

www.underwritersinsider.com

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More Information about Georgia Insurance Agents Alliance Membership at www.Georgia-Agents.com Storage capacity Video mail branding Mobile playback Mobile video recording

http://techtips.steveanderson.com/

Video sharing Video Mail: A Better Way to Follow Up?

Support

There is something about seeing a person that helps make a better connection. That connection is hard to make with just text in an email.

Using any type of motion in an email message to catch the recipient’s attention is a very useful tactic.

Adding simple animations drives increased customer engagement. Moreover, there’s mounting evidence that a richer experience does increase engagement. That alone makes video email a technique worth exploring.

Provider type EFFECTIVE WAYS TO USE VIDEO MAIL The Digital Handshake The Digital Handshake is a strategy that involves sending a video (to view) after the sales call, so the client can put a face to your name. Read the details on how to use this technique.

Customer Testimonials

Why haven’t more agencies been using it?

In the past, creating and delivering video emails has been expensive and difficult to use. Newer technology has made the process much easier and less expensive.

While some email clients (like Outlook) don’t allow video to play directly in an email, technology improvements have made the process of going from the email to a website to actually play the video a more seamless experience.

You don’t want to include a video as an email attachment due to its large size. The file size for just a few seconds of video can easily be over 10 MB. People just won’t wait for a large file to download.

That’s why using a video email service can be a huge timesaver.

FINDING A VIDEO EMAIL SERVICE Following are some of the video mail service providers we are aware of: Eyejot We wrote about EyeJot as one option for sending video emails in a December 2013 TechTips.

BombBomb VideoEmail RealTime Email Mavenir mailVU jiveSYSTEMS Here are some features to look for when selecting a video email provider: Video quality Limitations of video emails Pricing FYI Express

Getting a referral from an average human being talking on a video is more convincing than reading a block of text. For this reason alone, a video testimonial can be a great customer experience point for your agency. Find someone who has emailed you or called praising your agency. Ask them if they'd be interested in filming a short video testimonial that you can use on your site and in your emails. Give them some guidelines for length, and if necessary, provide a webcam or actually go to their office. A newer smartphone captures very adequate quality video.

Tips on Saving Money, Time, and More Create a short video newsletter. Your video can feature general tips on how to save time and money on their insurance. Show your recipients that you care about making things easier for them and they'll be more receptive to your next sales push email.

A Personal Thank You Message Most consumers buy plenty of products and services and never get more than an email telling them they're appreciated for their business. That's why the personal ‘Thank You’ is so effective. Have your agency owner or account executive record a brief, but heartfelt message thanking them for their business. Touch upon the economy and how much it means to your company that during hard times, they decided to spend their money with you. A little thank you can go a long way with your customers. A video email thanking them takes this concept to a whole other level.

Video provides a great way to build a personal connection. Using it as a way to communicate with your clients will enhance their customer experience and set you apart from your competition.

Have you tried using video to communicate with your clients? If so, how did you use it? If not, how would you use it?

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October 2014

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What can happen when you exceed your carrier’s binding authority?

Agents E&O Tips http://www.agentseotips.com/ Recently in a class that I had the honor of teaching, I was asked a very unique question…actually one that I had not previously been asked. At the time, we were discussing the vital importance of being honest with the carriers / wholesalers that agents are dealing with.

Unfortunately, this is an issue that when not adhered to, is causing a significant number of E&O claims. The question was essentially the following: “If the agent has authority to bind a Homeowners account for $400,000 and they bind the Homeowners account for $450,000 and a problem develops, what is the agent’s liability? Is it the $50,000 amount ($450K – $400K) that they exceeded their authority or is the full $450,000?”

I have seen these cases over the years and they are often difficult and fact intensive arguments and due to this high level of “intensity”, the litigation costs can be significant.

Typically, the discovery involves a review of the carrier’s files and underwriting guidelines, depositions of underwriting staff, etc. The E&O carrier’s objective would be to develop evidence to prove that the carrier would have written the $450k risk had they been asked to.

So the answer to the question is that the agent could most definitely be “on the hook” for the entire $450,000.

The best advice was well stated by the claims manager of one of the preeminent E&O carriers, “Bottom line, don’t exceed your authority.”

I responded with my thoughts but then agreed to “bounce this question” off of a couple of E&O carriers.

The consensus of the carriers was that the degree of agent liability would probably be based on the carrier involved and the specific facts of the case but that there was certainly the possibility of the agent being responsible for the entire $450,000.

There is the definite possibility that the carrier would argue, bottom line that the agent acted outside the scope of their authority when they bound the carrier to the $450k risk. The carrier would likely try to place the blame on the agent and look to recoup the amount of the loss. Another option might involve the carrier rescinding the policy, returning any premium dollars. In either case, the agent is in a very difficult position, one that they should make every effort to avoid.

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If the agent was sued, their E&O carrier would probably look to assert the argument that had the agent brought the risk to the specific carrier’s attention, the carrier would probably have written the coverage.

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Page 22

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