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n Envision’s proprietary system enables brokers to present unique benefit programs not available through any
n Envision’s professional, easy enrollment and customer service team delivers seamless processing for your customers.
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Chairman of the Board - Allyson Padilla allyson@blanksinsurance.com
President - Patrick Taphorn, CIC, CSRM ptaphorn@unland.com
President-Elect - Thomas Evans, Jr. tom.evans@assuredpartners.com
Vice President - Chris Leming cleming@troxellins.com
Secretary/Treasurer - Cindy Jackman, CIC, CISR cjackman@arlingtonroe.com
IIABA National Director - George Daly george.daly@thehortongroup.com
Mohammed Ali - mali@aliminsurance.com
Charles Hruska, IV - chas@hruskains.com
David Jenk, Esq. - djenk@nwibrokers.com
Rebecca Kohn - rkohn@worthyinsurance.com
Lindsey Polzin - lpolzin@presidiogrp.com
Ray Roentz - ray.roentz@hwcrins.com
Noele Tatlock - ntatlock@unland.com
Luis Tayahua - lt@goldenowlinsurance.com
Sharon Waldvogel - sharon@infinitybrokersinc.com
Andrea Wallace - andrea@aadins.com
Amiri Curry - acurry@assuranceagency.com
Kevin Lesch - klesch09@gmail.com
Jeff McMillan - jeff@mcmillanins.com
James Sager - james@sagerins.com
Luke Sandrock, CIC - lsandrock@2cornerstone.com
Budget & Finance | Cindy Jackman, CIC, CISR cjackman@arlingtonroe.com
Education | Lisa Lukens salibainsurance@gmail.com
Farm Agents Council | Steve Foster s.foster@ciagonline.com
Government Relations | Dustin Peterson dustin@peterson.insurance
Planning & Coordination | Nick Gunn, CIC ngunn@envisionins.com
Technology | Brian Ogden brian@ogdeninsurance.com
Young Agents | Cody Imming cody@imminginsurance.com
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Insurance Products Administrator
Director of Information and Technology
Director of Education and Agency Resources
Accounting & Admin Services
Director of Human Resources, Board Admin
Sr. Vice President/Chief Financial Officer
Chief Executive Officer
Director
Director of Government Relations
Office Administrator
Director of Communications
Marketing Representative
Rebecca Buchanan (217) 321-3010 - rbuchanan@ilbigi.org
Shannon Churchill (217) 321-3004 - schurchill@ilbigi.org
Brett Gerger, CIC (217) 321-3006 - bgerger@ilbigi.org
Tami Hubbell, CIC (217) 321-3016 - thubbell@ilbigi.org
Jennifer Jacobs, SHRM-CP (217) 321-3013 - jjacobs@ilbigi.org
Mark Kuchar (217) 321-3015 - mkuchar@ilbigi.org
Phil Lackman, IOM (217) 321-3005 - plackman@ilbigi.org
Lori Mahorney, CISR Elite (217) 415-7550 - lmahorney@ilbigi.org
Evan Manning (217) 321-3002 - emanning@ilbigi.org
Kristi Osmond, CISR Elite (217) 321-3007 - kosmond@ilbigi.org
Rachel Romines (217) 321-3024 - rromines@ilbigi.org
Tom Ross, CRIS, CPIA (217) 321-3003 - tross@ilbigi.org
Carol Wilson, CPIA (217) 321-3011 - cwilson@ilbigi.org
Partnerships are so extremely important in our personal lives and equally important in our business dealings. These also exist with the customers who put their trust in our ability to provide the right professional guidance in protecting what is most important to them. It is also found in the strong relationships we as agents and agencies have with our carrier organizations. Finally, it is evident in the affiliation with our association members who have an expectation that those who are charged with leading Big I Illinois will do everything in their power to support their desired outcomes.
With that said, the Big I Illinois Board of Directors has mirrored what has been communicated on a national level and issued a “Policy Statement Concerning the Compensation and Appointments of Independent Insurance Agents.” It reminds our carrier partners of the enormous task we as agents have during this market experience in performing our professional commitment to our customers. We are being challenged to go above and beyond with finding solutions and accessing multiple new market opportunities, while making sure we are continually securing new client relationships to help grow our enterprise. Our ability to retain and maintain premium
volume expectations is sometimes hindered and made to be challenging because of underwriting decisions. In these cases and others, we are asking that the carrier partners understand that the outcomes are many times a result of those actuarial guidelines and should not result in the removal of a contractual relationship. Furthermore, our agency operations continue to realize increases in costs to run our businesses. We are ultimately reliant on the commissions we earn every day in providing the highest level of professional service to our customers. It would have an extraordinarily adverse impact on our agencies if that revenue source we rely on is reduced to improve carrier results.
In the end, our member agencies need communication from our insurance company partners now more than ever and we would welcome conversations that would prevent any actions that would negatively affect our financial health. Please know that we, Big I Illinois Board of Directors and Staff, continue to promote the strength and importance of the independent agency system and work tirelessly to protect our membership at the same time.
1. The independent agency channel represents the most effective and efficient distribution system of insurance and risk management solutions to consumers. Independent insurance agents handle nearly $1 trillion in direct written premiums annually on a national basis and control 61% of the property and casualty marketplace in Illinois. They educate and assist consumers before coverage is obtained and continue to be their advisors through the insurance lifecycle. The independent agent is typically the first and last resource for the consumer in both hard and soft markets.
2. In addition to the many vitally important services they provide to consumers, independent insurance agencies also provide valuable services to the insurers they represent.
These include services related to:
• Marketing and sales,
• Risk analysis and management,
• Communicating difficult rate and policy underwriting decisions to clients
• Post-sale service and assistance,
• Policy administration,
• Claims processing, and
• Many other aspects and elements of the insurance lifecycle.
3. We are deeply concerned that some insurers have recently reduced agency compensation in a significant manner without thought for the long term and have terminated relationships with agencies altogether. These actions come in the midst of a tumultuous hard market in which consumers are relying more heavily than ever on their agents and as agents too often struggle to find insurers willing to write business and provide customers with muchneeded insurance coverages.
4. While we acknowledge the challenges that insurers are facing in the current market, we also believe the practice of reducing agent compensation and terminating agency appointments is misguided. Illinois’ open and competitive rating system allows insurers to plan for additional rate when warranted and without requiring prior approval from state regulators. Finally, given Illinois’ open and competitive market, rates will inevitably go down when the hard market passes. Agency compensation should always be determined on an individual basis between agencies and insurers and should fairly reflect the value that agents provide.
5. The long-term health of the independent agency system depends on insurers compensating agents fairly and adequately and in a manner that reflects the value of the functions and responsibilities performed by agents. In addition, insurers should not delegate new responsibilities to agents without commensurate increases in compensation.
6. The ability of agents to serve the needs of consumers is hindered when insurers inappropriately terminate agency appointments. State policymakers should ensure that there are sufficient guardrails and statutory protections in place that apply if insurers elect to pursue actions of this nature, and agents should communicate any issues they may have directly with companies.
7. The independent agency channel is growing in Illinois and nationally. Insurers have a responsibility to discuss significant actions in advance with their agents. Both agencies and insurers should communicate candidly and respectfully with each other about how best to navigate market change.
It is that time of year when we start to think about our goals for next year or New Year’s resolutions. I’m not going to eat sweets, or I’m going to exercise six days a week. Both of those are ridiculous and will be broken within hours of the new year ringing in. For example, I set my iWatch goals so low that I taught an entire day, got out of my chair to go to the restroom, and drove home. As I arrived home and plopped onto the couch, my “rings” on my iWatch closed. This is because I do not need a watch judging me.
Setting low goals isn’t bad as long as you recalibrate once you reach them. Goals should be about growth in various areas, such as personally, emotionally, and professionally. They should be tracked, pursued, and evaluated as part of your everyday routine.
You should ask yourself the following questions to come up with the most appropriate goals, which should produce further questions to help narrow your scope.
• What type of agent do I want to be for my clients?
• What type of father do I want to be to my children?
• What type of husband do I want to be to my wife?
• What type of coworker do I want to be in my organization?
If these are your final goal-setting questions, you have gone way too broad and will most certainly produce failure. Those questions should lead to multiple sets of further questions to narrow your scope and focus to something attainable. Once obtained, you move up the ladder to the next step. The unfortunate thing is that goal setting is never finished. Those who do stop setting and pursuing goals are what we call failures or retired. Just kidding, but the people who set the most appropriate ever-evolving goals tend to be the most successful. Success can be measured in many different ways and doesn’t always mean the richest money-wise. There are plenty of ways to define rich, whether it be money, relationships, or knowledge. My grandfather always told me to be the best version of myself and, more importantly, to try to bring out the best version of everyone around me. That is my main goal, and I attempt to achieve it by setting reasonable goals and constantly adjusting them.
Every NFL team sets their goal to win the Super Bowl every year. Only one team wins the Super Bowl. The overwhelming majority fails in that pursuit. There are many factors in determining their success, but one of the most important factors is how they set their small attainable goals in pursuit of the overarching goal of winning the Super Bowl. Culture breeds success as leadership sets the tone of the organization. This is why we see some teams that have runs of success. The 49ers in the 80s, the Cowboys of the 90s, the Patriots of the 2000s, and the Chiefs as of late all had great leadership, whether it be owners or coaches that set their culture. A huge part of their culture was to emphasize the way you achieve the large goals is to do the little stuff precisely and judiciously. Everyone in the organization is pulling their weight and working towards the same goal by all setting our little goals and obtaining success in pursuing them. Leaders set the tone and provide the overall example for others to follow. Success happens from the top down; you show me a vibrant, driven, goal-setting/pursuing, great communicating, polarizing leader; I will show you a successful organization. You show me a dull, apathetic, terrible goal setter(too broad or too narrow), bad communicator, and undecisive leader; I will show you a failing organization. Most organizations fall somewhere in the middle. If you are in the middle, you should set your goals to improve in the areas where you are lacking, such as communication or generating enthusiasm.
As a leader or a follower of any organization, make goals and goal setting a part of your everyday routine and find an organization that fits the kind of culture that you want to lead or be a part of. Set the “Big Goal” (often, this is your Mission Statement) and develop a road map of little goals to achieve the big goal. To be effective, leaders must clearly communicate goals/objectives, get staff buy-in, and lead by example. It is not enough to set goals. It is imperative that you provide a roadmap of how to achieve those goals and plan the next steps. Organizations do not fail, leaders do by not providing the guidance and tools to achieve organizational objectives. One key aspect of leadership is knowing how to achieve organizational goals in pursuit of organizational success most efficiently. Goal setting and pursuing is never over until you retire, and then the goal becomes much easier: merely wake up by noon every day.
Remember, approximately 80% of New Year’s resolutions fail (most likely due to unrealistic goals). Set desirable, attainable goals, constantly re-evaluate and adjust those goals, and all work together to achieve them. You may see an 80% success rate instead of a failure rate. Failing to set appropriate goals, personally, means that I may put on a few extra pounds, but failing to set appropriate organizational goals means the organization might fail. Become the leader that you want to be led by and be the follower that you want to follow you. Expectations must first be met by you to your standards before you can expect others to meet your expectations. This goes to the multiple sayings: When you point a finger, three are pointing back at you; Those in glass houses should not cast the first stone; Do unto others… and so on and so on. Leading by example, goal setting, and pursuit should be a significant part of that example.
“I attempt to achieve the main goal by setting reasonable, smaller goals and constantly adjusting them. If I don’t reach my smaller goal, I ask myself why, and adjust again.”
The Charles M. Cartwright Merit Award is considered the most prestigious award Big I Illinois presents. Named for Charles Cartwright, editor of the National Underwriter for more than 50 years, and champion of associations and the insurance industry, the award is presented at discretion of the Big I Illinois Executive committee to the “Person who has performed the most meritorious service to the insurance industry in Illinois.”
Since the award’s inception in 1944, there have been 19 years in which no Cartwright Award was presented. The tradition of the award dictates that it only be awarded when a truly deserving candidate is identified.
Bennie Jones, a seasoned insurance veteran with over four decades of industry experience, has been named the 2024 Cartwright Award recipient. This prestigious honor recognizes individuals who have made significant contributions to the independent insurance agency system.
Jones began his career at a major insurance carrier before venturing into entrepreneurship. His dedication to innovation and service has led to the growth and success of his own agency. Beyond his professional accomplishments, Jones has been a tireless advocate for diversity, equity, and inclusion within the industry.
A long-standing member of Big I Illinois, Jones has served in various leadership roles, including committee positions and the board of directors. He has also been instrumental in the development and support of the Chicagoland IIA and the Chicago Chapter of the National African American Insurance Association.
One of Jones’s key initiatives has been promoting careers in insurance through the Invest program. He has actively mentored young professionals, particularly those from underrepresented communities, providing guidance and support to help them succeed in the industry.
On a national level, Jones chaired the Big I Diversity Council, where he worked to raise awareness of diversity and inclusion issues and foster a more inclusive industry. Under his leadership, the Council organized the first industry-wide diversity summit and launched “inclusion in action” calls to address social unrest and racial injustice.
Jones’s commitment to community extends beyond the insurance industry. He has been involved in numerous programs and organizations that serve African American youth, demonstrating his dedication to making a positive impact on the lives of others.
The Agent of the Year Award is presented for the outstanding performance and achievement of an individual who is a retail agent member of Big I Illinois. The nominee must be a licensed agent and contribute to their agency’s performance through production, use of technology, professional development and civic responsibility.
Robert White, LUTCF, CPCU
Bob White Insurance Agency, Mt. Vernon
What is your involvement in your community?
I volunteer my time as a member of the Mt Vernon Fire and Police Commission, being an active member of the Mt Vernon American Legion, Elks, Life Member of the DAV and VFW as well as the Jefferson County Development Corporation. I previously served on the Jefferson County board as a member and board chairman, and am currently coordinating an annual Military Enlistment Dinner with the VFW in conjunction with the other local military fraternal organizations.
Tell us what significant contributions you have made to your agency.
I’ve significantly contributed to my agency’s growth through strategic relationship building and consistent client engagement. By leveraging a combination of traditional and digital marketing tactics, including sponsorships and personal outreach, I’ve generated a steady stream of referrals and new business. My long-term commitment to building strong relationships has resulted in a significant increase in both new and existing client business, particularly in recent years.
What part has Big I Illinois had in your success as an independent agent?
Being a member of this association made the transition from captive agent to a professional independent insurance agent 21 years ago so much easier. Navigating the multiple challenges in marketing, selling and servicing policies all why remaining visible in my local community and being an employer requires the help of professionals in this field and you will find the very best of that talent within this association. Whether it’s the annual trade show that gives every agent the opportunity to meet with carriers and brokers, to all of the educational opportunities, and the professionals both new and very seasoned to visit with and discuss marketing and management strategies, this association provides a very deep well of multiple and many priceless opportunities. The value of the camaraderie enjoyed at the multiple events throughout the year is another priceless benefit this association offers to each member. Being named the Agent of the Year by this incredible group is quite the honor and I’m both humbled and honored to accept it.
This annual award recognizes the achievements of Young Agents in Illinois (someone under the age of 41, or who has been in the industry less than five years). The nominee must have demonstrated service to the insurance industry, professional trade associations, and community in a manner considered exceptional for a person of their age.
Luke Hoerr
Summer & Assoc: A Division of Troxell, Washington
When growing up I always wanted to be a financial advisor like Dave Ramsey. I read every book I could find on business, real estate, and finance. I decided to go to college the Dave Ramsey way and paid my way through it by working as a mason and picking up odd jobs along the way. Once in college, studying finance, it was brought to my attention that I could do both finance and risk management at the same time, so I added that in too and to my surprise I found risk management to be much more interesting. I graduated with a double major in Risk Management and Finance.
I chose to be in the insurance industry because it felt like the unknown or the uncharted. I always say that finance is a calculation. Most of the time you can run the numbers and find an answer. On the other hand, risk management is not a calculation. It is an estimate of risk and cannot be quantified. Even though this industry has been around since the 1600s it still feels like we are discovering new and emerging risks every day. That interest sparked the motivation for me to help businesses and individuals navigate that uncertainty, have peace of mind, and be equipped with resources to bounce back from losses they were not anticipating.
One of the biggest challenges for our industry for commercial insurance is preparing the insured for what they should expect a relationship with a carrier to be like. There are a lot of people out there that do not want anything to do with it because they feel like the insurance company is out to get them. We all know that is not the case and that in reality carriers want to come alongside business owners and offer help. So how do we do that?
One significant innovation involves leveraging AI technology, specifically ChatGPT, to identify and assess potential business risks for our clients. By proactively identifying vulnerabilities, we can tailor insurance solutions to their specific needs, shifting the focus from price to comprehensive coverage.
After I heard about this innovative technology through OpenAI, I went back to my college textbooks to find a way to make this a useful piece of our client offering. I didn’t really know what I would find but something was telling me to start with the basics. I landed on a tool that always intrigued me, but I never really used, was what the industry calls a “Risk Register.” Insurance companies have this data in their back pocket, but for a business owner it could take years to produce a comprehensive register to work with. With the use of a GPT we can now generate one in under 5 minutes, and I call it Risk 360. It is extremely simple, unique to each insured, and exceptionally informative for the average business owner. It brings up a lively conversation about insurance every time.
Plaguing every agency in the past couple years is this overwhelming pressure from carriers and clients to perform. Most of the time we shield our clients from this and it leads to depression, anxiety, and worst of all… burnouts. It can feel like your staff is unwilling to pick up the phone and talk with a tough client, or maybe they have lost the motivation to turn over the next stone because the answer has always been the same. Sound familiar?
We have a new saying in our office, and it always lightens the load somehow. It is similar to answering the phone with a smile, but instead we say to each other “Eyebrows Up!” This is not a saying that I came up with. I stole it from the director of a family camp in Michigan called Gull Lake Ministries. Funny as it sounds, it works, and everyone can get behind it. Nobody likes dealing with someone who has droopy eyebrows. It is a minor change that has a huge positive impact on staff morale and client engagement. If you try answering your phone today with eyebrows up and tell me the attitude in your voice doesn’t change, I won’t believe you.
Big I Illinois has so much to add to your agency and your agents. You can find quality education and CE, network with other agencies to understand the best practices, and get much needed training for new agents and staff to help them through their roadmap to success. Those are just a few things that I have benefited from and there is so much more that I haven’t tapped into yet. Overall, the biggest impact they had on my success is helping get my name out there as a trusted choice and a solution-oriented agent.
As a young agent that has been involved with Big I Illinois for the past two years I have seen tremendous support aligning our agency as a trusted choice. Most people think of an older seasoned individual when they think of an insurance agent. Customers want to work with agents that have a client centered focus which is hard to communicate on your own and even more so as a young agent. It takes another source to demonstrate your skill and knowledge. It is much easier to grab onto something that has already been established for a long time than to recreate it all on your own. Big I Illinois can help you with that, and the more you put into them the more they will put into you. Get involved and reap the rewards!
The Agency of the Year Award is presented to a Big I Illinois member agency that exemplifies leadership and innovation within the industry. The ideal agency would demonstrate strong growth, innovative marketing strategies, creative utilization of evolving technology, top-level customer service and dedication to their community.
Main Location: Urbana
10 Branch Offices as of November 2024
In business for 43 years
Over 60 employees
What do you believe sets your agency apart from the competition?
Loman-Ray Insurance Group sets itself apart through its ambitious growth strategy, strong brand identity, and unique community engagement. The agency’s commitment to excellence, personalized service, and attracting top talent positions it as a leader in the insurance industry, driving positive change and delivering exceptional value to clients and communities.
What does receiving the Big I Illinois Agency of the Year award mean to you and your agency?
Winning the Big I Illinois Agency of the Year award means so much to all of us at Loman-Ray. It reminds us why we do what we do: helping our clients, supporting each other as a team, and making a real impact in our community. This recognition feels like a big “thank you” for all the hard work and heart we put into every day. It is not just about the award; it is about the people we serve and the difference we are making together.
What efforts are you putting in to retain talent, and attract new talent?
At Loman-Ray, we focus on both attracting and retaining talent by offering growth opportunities, competitive benefits, and a supportive work culture. We bring in new talent by identifying individuals with the right attitude and ambition, even if they lack industry experience. Through targeted roles, mentorship, and training, we help them build careers and expand their expertise.
To retain our talent, we offer competitive benefits such as employee-provided health care and a 401(k) match. We also create a dynamic, team-oriented environment that includes fun events, rewarding experiences, and professional development. Our strong brand reputation fosters pride and loyalty, ensuring our team remains engaged and motivated.
Why do you value your association membership?
We value our membership with Big I Illinois because it feels like having a true partner in the industry. They understand the challenges we face as an independent agency and are always there with resources, guidance, and a network of people who get it.
Whether it’s staying on top of industry changes, advocating for independent agents, or just having a group to turn to for advice, Big I Illinois has made a big impact on how we do business. The resources are valuable, but it’s the sense of community and shared purpose that truly helps us grow and better serve our clients.
The Agency of the Year Award is presented to a Big I Illinois member agency that exemplifies leadership and innovation within the industry. The ideal agency would demonstrate strong growth, innovative marketing strategies, creative utilization of evolving technology, top-level customer service and dedication to their community.
One Location: Normal In business for three years 10 employees
What does receiving the Big I Illinois Agency of the Year award mean to you and your agency?
Winning the Agency of the Year award means a great deal to our entire team. This award confirms our approach to creating a unique, independent agency within the auto manufacturing sector. We ensure that our clients receive expert guidance on protecting not only their Rivian vehicle but their broader assets. Our team is made up of highly skilled and experienced advisors to address the variety of insurance needs. Our team has worked extremely hard to grow our agency from the ground up starting with zero policies/policyholders and a team of 3 advisors.
Earning the Agency of the Year award within three years speaks to the depth of our business plan and the team that implemented it. This recognition validates the hard work, dedication, and passion of our team. It also reflects on the trust and confidence our clients have placed in us when you look at how we have grown in 3 years. This award serves as a celebration of our team’s collective effort and commitment to our customers and partners. Most importantly, this award motivates us to continue pushing the boundaries, innovating, and delivering the best possible results. It inspires us to continue to establish and maintain new standards of excellence.
makes your agency unique?
We are an independent agency owned by Rivian Automotive, a leading electric vehicle manufacturer. We are not our own carrier or an MGA. We broker through carriers that have policy forms that best align with our customer base across the country. We are a hybrid agency that writes business through Advisors and a digital purchase platform.
Why do you value your association membership?
Being a Big I Illinois member is important because our agency is based in Central Illinois at our plant. Our team values the training opportunities, relationship opportunities, the political action opportunities that impact our agency. Having an association for resources that we can lean on to help us in our business each day has been helpful to our team from continuing education to industry trend publications to bridging the gap from the carrier to agent. Awareness makes us all better.
Tell us about your agency’s efforts in your community.
Rivian actively supports its community through various initiatives, including volunteering at the Midwest Food Bank, hosting blood drives, organizing food and toy drives, adopting local families for Christmas, and contributing to school supply drives. These efforts demonstrate Rivian’s commitment to making a positive impact on the community.
By Rob Madore
As firms grow, the complexities of scaling operations, maintaining client satisfaction, and staying ahead of market trends demand a proactive approach to planning. So, where should you begin in building a strategic plan for your firm?
In the constantly evolving registered investment advisor (RIA) and wealth management landscape, the importance of a well-crafted strategic plan reveals itself in measurable results. According to Schwab’s 2020 RIA Benchmarking Study, 75% of the Top-Performing Firms have a written strategic plan.1,2
For RIAs, whether on the consulting or investment banking side, alignment across all aspects of a firm creates growth, longevity and increased enterprise value. The track records of top firms demonstrate that a strategic plan isn’t just a document - it’s a blueprint for sustained growth and longterm success.
As firms grow, the complexities of scaling operations, maintaining client satisfaction, and staying ahead of market trends demand a proactive approach to planning. So, where should you begin in building a strategic plan for your firm?
If you’ve heard me speak, you’ve probably heard me reference Stephen Covey’s principle of ‘starting with the end in mind’ as it relates to RIA firms. The reason for this approach is simple: if you aren’t able to clearly define where you want your firm to go and what you’re building, it will be nearly impossible to make the right decisions year over year. What do you want your firm to become? Who do you want to serve? Establishing these foundational objectives will guide every decision and action that follows.
If anything, you, and your team should be able to clearly define the following:
• Vision: What are you aiming to build - a local niche practice, a regional multi-office organization, a lifestyle practice, or a true operating organization?
• Mission: What core values and standards do you want your firm to uphold? How do you want to be perceived by clients and the broader market?
• Value and Clientele: To whom are you delivering services? What segment of the market are you targeting? Is there a specific niche?
Before charting a course forward, it’s essential to understand where your firm currently stands. For most MarshBerry clients, a SWOT analysis across 12 value drivers for a wealth/ RIA business is recommended. Establishing this baseline not only provides a reference point for future comparison, but it also often highlights key areas of focus for the business. At a minimum, the core components of this baseline assessment should include the following: Market Positioning, Financial Health and Revenue Streams and Benchmark Versus Your Peers.
As Jack Welch famously said, “There are only two sources of competitive advantage: the ability to learn more about our customers faster than the competition and the ability to turn that learning into action faster than the competition.” For RIAs, in a world with increasingly scaled competition and expanding service offerings (read: “compressing margins”) this means deeply understanding your target market and aligning your value proposition to meet their specific set of needs and address their pain points.
• Target Market: Who are you serving, and what do you provide them?
• Service Model: Does your business model allow you to profitably serve this clientele?
• Differentiators: What sets your firm apart? Is it service and quality, specialized knowledge, niche expertise, depth of service or something else?
Your positioning has a significant impact on your organic growth potential and referral power. Strategic market positioning can pave the way for your firm’s long-term growth and success.
While managing purely to maximize financials is rarely recommended, a business with a weak financial position has minimal operating leverage. Leverage proper expense management systems (ex: QuickBooks) so that you can quickly access clean financial data, including income statements and balance sheets, while integrating data feeds to gain accurate insights into your client base. Breakdowns should include:
• Revenue Categories: Classify revenue by source, such as planning fees, asset management fees or other revenue streams.
• Expense Categories: Categorize expenses accurately to allow for future benchmarking and alignment with industry standards. Define expenses as fixed or variable/contingent to better manage financial planning.
Benchmarking your firm’s performance against industry standards provides valuable insights. Analyzing metrics such as AUM (Assets Under Management) growth, revenue per advisor, EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization) margins and client retention rates can help you set realistic performance targets and identify best practices that can be adopted to drive growth.
Your plan should be a combination of long-term goals in line with your vision for the firm, with short-term objectives (oneand three-year) that build to this and comprise the actionable plan. These should be SMART goals - Specific, Measurable, Achievable, Relevant and Time-bound.
Examples of strategic goals might include:
• Financial Goals: Increase AUM by 20% over the next 12 months through a combination of organic growth and strategic acquisitions.
• Growth and Client Acquisition Goals: Boost new client acquisition by 50% in the next quarter by implementing a targeted digital marketing campaign and enhancing referral programs.
• Long-Term Goals: Identify specific milestones, such as establishing an equity distribution program or establishing a human capital strategy for the organization.
A strategic plan is not static. It must evolve as your firm grows and the market changes. Regularly review your progress against established goals and make necessary adjustments to stay on track.
• Tracking Alignment: Implement systems for tracking key performance indicators (KPIs) that align with your strategic objectives.
• Updating the Plan: Schedule regular reviews - typically this is done annually - to reassess your strategic plan. This allows you to refine your approach, pivot where needed, and ensure that your firm is always moving toward its long-term objectives.
• Identifying Misalignment: One of the most critical steps in your strategic planning process is identifying where your firm’s current position diverges from your desired future state. Areas to focus on include:
• Client Segmentation: Are you serving the right clients? Do your current clients align with your long-term goals?
• Ownership and Equity: Consider the long-term independence of your firm. Is your ownership structure conducive to generating next-generation leaders and owners, or is there a need for equity restructuring?
• Growth Targets: Are your growth goals realistic? For example, is it feasible to grow from $1 billion to $3 billion in AUM within five years?
Building a strategic plan for your firm can ensure that your firm is well-positioned to thrive in the competitive wealth advisory space, ensuring long-term success, sustainable growth and optionality for ownership.
This article originally appeared on the MarshBerry website at marshberry.com/resource/strategic-planning-where-to-beginbuilding-your-roadmap-to-sustainable-growth/. Visit the page to view article sources.
Rob Madore is Vice President on MarshBerry’s Financial Advisory team and can be reached at Rob.Madore@MarshBerry.com.
Independent insurance agency owners are constantly working both in and on their business. It can be a difficult balance between the demands of client acquisition, retention, and operational efficiency.
Growing your agency’s value means more than just increasing its revenue – it involves building a business that is sustainable, scalable, and differentiated in a competitive market. Whether you’re planning for long-term growth or an eventual exit, focusing on key areas like niche development, expanding team capacity, efficiency through the use of technology, and account rounding can position your agency for lasting success. The following are some of the proven ways I’ve seen other agencies increase value.
One of the most effective ways to strengthen your agency is by developing a niche. Rather than trying to be all things to all people, focusing on a specific demographic or industry can help you create efficiency and stand out as an expert in that area. Specialization not only enhances your reputation as an expert in a particular area but also enables your team to streamline their process, and creates the ability for you to offer tailored solutions that meet the unique needs of your target clients.
I work with so many agencies that have develop expertise in unique segments of business. And I’m not just talking about writing “medical offices” or “restaurants” – I mean agents who know a specific section of a specific industry like the back of their hand. Over time, this expertise allows you to command higher premiums, face less competition,
By Carey Wallace
and build stronger client loyalty. Additionally, focusing on a niche market can lead to more referrals and word-of-mouth marketing, as clients appreciate working with someone who truly understands their unique business.
Specialization also creates efficiencies within your agency. By becoming highly familiar with one market, you streamline processes, reducing the time it takes to quote and bind policies, manage claims, and service accounts. It also helps you align carrier and wholesale broker partnerships. These efficiencies can be reinvested into growth efforts, strengthening your agency’s long-term position.
Expanding your team’s capacity without significantly increasing overhead is crucial for growth. One way to achieve this is by utilizing virtual assistants (VAs). Virtual assistants can handle various administrative and operational tasks, freeing up your licensed agents and producers to focus on sales and client relationships.
VAs can assist with tasks such as:
• Managing customer service inquiries
• Preparing information for policy renewals
• Organizing and updating client records
• Processing claims paperwork
• Managing email and calendar scheduling
By delegating these routine tasks, your licensed staff can dedicate more time to revenue-generating activities, such as prospecting new clients, cross-selling to current customers, and building relationships. Virtual assistants are often more affordable than full-time, in-house staff and can work on flexible schedules tailored to your agency’s needs. The ability to quickly scale your team without the fixed costs of traditional employees provides a competitive edge, particularly for smaller agencies looking to grow.
I have seen more and more agencies utilizing these VA partnerships in the last two to three years. Don’t “trust” VAs? It may just be that you haven’t found the right VA partner –which is critical for this to succeed.
More than ever, technology is a critical piece of agency success now. Have a great workflow and tech stack in place? Excellent! It may be increasing your agency’s value.
Regardless of if you already have it or are building it now, independent agency owners who embrace technology can create more efficient workflows, improve customer experience, and ultimately increase profitability. Several types of technology can benefit your agency:
• Agency Management Systems (AMS): Do you have an AMS that you’re (mostly) happy with and that your team is utilizing? If so, what else can be done to leverage it? If not, how can it be improved or does a change need to be made?
• Customer Relationship Management (CRM) Tools: A CRM system helps you keep track of your interactions with prospects and clients, ensuring follow-ups happen on time and that every opportunity for cross-selling or upselling is maximized. A well-implemented CRM can improve customer retention by ensuring personalized, timely service.
• Automated Marketing Platforms: Tools like email marketing platforms or social media schedulers allow you to maintain consistent communication with your audience. Regularly reaching out to clients with value-added content keeps your agency top of mind.
• Self-Service Portals: Offering clients the ability to access their policies, request changes, or make payments can significantly enhance customer satisfaction while reducing the time your team spends on servicing accounts.
Investing in the right technology can boost your agency’s operational efficiency, reduce costs, and provide a better client experience, all contributing to long-term value.
One of the most effective yet often underutilized strategies for growing an independent insurance agency is account rounding. We all know the basics of account rounding, but are you implementing it everywhere? Do you have a strategy on personal, commercial, benefits, and the points they intersect?
The benefits of account rounding are twofold:
• Increased Revenue Per Client: By offering multiple policies, you can increase the overall premium per client, growing your agency’s top line without acquiring new customers.
• Improved Client Retention: Clients who have multiple policies with your agency are less likely to leave, as they would face more disruption in their coverage. Moreover, clients who view your agency as their one-stop shop for insurance are more likely to refer others to you.
We all know that focusing on your current book of business also tends to be more cost-effective than constantly acquiring new clients. Upselling and cross-selling to existing clients should be an ongoing effort, supported by regular policy reviews, tailored offers, and educational outreach on the benefits of expanded coverage.
Strengthening your agency and increasing its value is a multifaceted process that requires strategic focus.
By developing and growing a niche(s), leveraging VAs, investing in enhanced technology, and prioritizing an account rounding strategy, you position your agency for sustainable growth. These strategies not only improve operational efficiency and client retention but also enhance the long-term value of your agency, ensuring its success well into the future.
Over the past 16 years, Carey Wallace has worked with hundreds of independent insurance agencies helping them understand their agency’s value and turn that knowledge into an actionable plan for their future. Find out more at agencyfocus.com.
Growing your agency’s value means more than just increasing its revenue – it involves building a business that is sustainable, scalable, and differentiated in a competitive market.
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By Jennifer Becker
The Best Practices Study is released annually by the Big “I” and Reagan Consulting. It is based on the data received from agencies that have demonstrated real, measurable success. Best Practices data is gathered through a data collection process and scored objectively. The highest performers are deemed “Best Practices agencies.”
Agencies of all sizes can utilize the report’s 3,000 data points to compare their agency’s performance with Best Practices agencies and create a performance dashboard to measure future success and create benchmarks towards growth.
Measuring your agency against Best Practices agencies can yield valuable insights. The Best Practices framework helps agencies understand if the right information is being tracked, where they are successful and whether the agency is spending time and resources in the areas that provide the most benefit and increase agency value.
Best Practices agencies are split into six revenue categories, which means agencies can compare themselves to the right category to measure and manage business—and look ahead for scale and growth.
To get an idea of how the Best Practices process can benefit your agency, start by picking one metric, review the results and then use the proper tools or seek education to address the performance gaps. Then, move from one priority to the next. By following this process, you will turn potential into significant improvements.
What should be your first priority? Reagan Consulting has determined that growth is twice as important as profitability in the valuation equation. Without consistent and sustainable growth, an agency will never reach its valuation potential and will likely fail to deliver appropriate investment returns to its owners. So, starting with the sales velocity metric can ease an agency into the Best Practices process.
Expressed as a percentage, sales velocity is calculated by dividing the new business written in the current year by the prior year’s commissions and fees. By using the Best Practices Study and benchmarks, you can determine where your agency stands against firms in your same revenue category.
Sales velocity is one of the most important indications of an agency’s ability to succeed and perpetuate over the long term. Through the Best Practices process, principals and managers can focus on what an agency can do to impact the specific metric and drive results based on new business activity.
Additional metrics are available to measure agency performance, including an organic growth rate formula. Also, weighted average shareholder age (WASA) and weighted average shareholder producer age (WAPA) indicate if an agency is prepared for perpetuation. Meanwhile, to evaluate your new talent investment needs, use the net investment in unvalidated producer pay (NUPP) metric.
Looking for a place to begin? Download a free Excel Comparison Workbook at tinyurl.com/IIABA-BP-Workbook24. Use the spreadsheet to compare your most recently completed year-end results with the results obtained by the Best Practices agencies and then calculate any performance gaps between the two. Areas to explore include revenue, growth, expenses, profit, finance, staffing and producer metrics.
If your performance is aligned with the Best Practices results, consider participating in the Best Practices agency process. Complete the self-nomination form at independentagent. com/best-practices/pages/become-bp/become-bp.aspx. The opportunity to become a Best Practices agency only occurs every three years and is taking place now.
The process is an excellent agency management exercise that can reveal success, validate decisions and reveal areas of opportunity. For those who are nominated and selected to participate, inclusion provides the prestigious status of “Best Practices agency” and opens the doors to many benefits.
Jennifer Becker is Big I senior director, agent development, research and education and can be reached at jennifer. becker@iiaba.net.
Now that the election is over, it is time to analyze how the results will likely impact the independent agency system, specifically insurance agency values.
Since 2016, agency values have steadily risen over the past 8 years, regardless of who occupied the White House or controlled Congress. This time period largely paralleled the hard market, which has naturally created increases in premiums and revenue, thereby giving agency values an automatic increase in growth, one of the key factors in a valuation. As a result, IA Valuations’ data shows agency values have appreciated by over 40% since 2016.
In this article, we will break down the 3 key questions postelection that could impact agency values. Similar to past elections, the agenda for the major parties is starkly different, particularly for how they could impact agency owners.
First, the primary area of difference is related to tax rates: individual, business, and capital gains rates. Both parties agreed on enhancing the childcare tax credit to help working families manage the costs of child care, but that is where the similarities in the major parties’ tax plans ended.
Trump and the GOP campaigned vigorously on cutting taxes to stimulate economic growth, whereas Harris and Democrats campaigned on middle-class tax cuts and implementing a variety of tax increases on businesses and higher-income earners. This issue, more than any others, would’ve had the greatest impact on agency values, specifically what an agency owner would’ve taken home after a sale based on tax rates.
With Republicans winning the Presidency and US Senate, we will see an aggressive effort to extend the 2017 20% corporate and pass-through entity tax cuts. In addition, we will not likely see Trump and the GOP take any steps towards implementing an increase in capital gains taxes or other tax increases. This will be a priority agenda item for the Republicans as they enter the new Congressional session.
Knowing that, the second issue we will look at is what impact the election outcome will have on M&A activity. Given the results, we will not see the same agent and broker M&A runup that we experienced in Q4 2020 and 2021 when Biden won the presidency and Democrats controlled the House and Senate. Looking back, the IA system experienced a record level of M&A activity (20%+ increase in any previously recorded or activity since) during those time periods due to the uncertainty of capital gains and individual tax rates. With the threat of a significant increase in capital gains taxes, many M&A advisors, CPAs, and financial planners urged their agency owner clients to rush to close their sales in 2020 and 2021 before Democrats were able to enact tax increases.
By Jeff Smith
As we know now, the tax increases were never adopted because the Democrats could not get all of the members of their party onboard with increasing taxes.
For agents considering when to sell, tax increases hinging on the election outcome are no longer a factor. Agency owners can control the timing of their decisions without fear of the federal government changing tax rates and having an impact on their value or take home from the sale. This should result in a decrease in M&A activity and therefore could create a larger supply of agencies.
The other issue related to this is what happens with interest rates. With inflation being tamed over the past year, interest rates will not likely go back up, and therefore it should free up cheaper capital for PE-backed brokers to continue their hunt for acquisition targets, thereby keeping the demand for agencies high. We do not expect the election outcome to have a significant impact on the Federal Reserve’s positioning on interest rates.
The third and final issue is the only uncertainty in the insurance industry resulting from this election. It is the future funding and extensions of federal government subsidized insurance programs, namely flood and crop insurance. The future funding of the flood and crop insurance programs will be under greater scrutiny as budget hawks will put pressure on GOP leaders to reduce spending. With the growing national debt, it will be difficult to fund every federal initiative and deliver tax cuts.
This will create a challenge in messaging for independent agents as we advocate for the preservation of tax cuts while asking for greater funding for the flood and crop insurance program. If your agency has a large federal flood or crop book of business, pay close attention to how these programs are treated during the first time federal funding runs out under GOP rule as it will provide some insight into how the majority policymakers plan to treat the funding of these programs.
In conclusion, like elections in the past, we do not anticipate the results to have much of an impact on agency values. We expect values to continue to trend up and the outcome of the election should buy agency owners more time to make their decision on when and how to transition ownership or sell due to the stability in tax rates expected over the next few years.
If the election outcome or your personal situation has you contemplating the next steps with your agency, contact Jeff Smith, CEO of IA Valuations, a Big I Illinois partner, at jeff@iavaluations.com to explore your options. Go to IAValuations.com for more information.
SECURA Insurance will donate $39,000 to 13 nonprofit organizations as part of the annual SECURA Gives Back campaign.
This year, 390 agents participated by nominating the nonprofit of their choice to win a $3,000 donation.
“This campaign is our way of saying thank you to our agents for the work and philanthropy they do throughout the year,” said Mike Campbell, SECURA Insurance Director–Specialty Lines Underwriting. “Together with our agency partners, we can support several nonprofits across the U.S. We love the opportunity to give back to the organizations that make our communities a great place to live, work, and play.”
Since 2017, a total of $210,500 has been donated to 78 nonprofits through the SECURA Gives Back campaign. This year, each winning nonprofit will receive a $3,000 donation to help support their mission. The Illinois winning agency and the nonprofit benefiting from the 2023 SECURA Gives Back contest are: Michael Koch Insurance Agency benefiting Keeping Families Covered.
For additional information about SECURA’s charitable giving and community support, visit our website’s community involvement page at secura.net/about/communityinvolvement.
SECURA Insurance was named a Great Place to Work®certified company for the ninth consecutive year. This certification is based entirely on what employees say about their experience working at SECURA, which is collected through an anonymous survey. This year, 91% of employees said SECURA is a great place to work — 34 points higher than the average U.S. company.
According to Great Place to Work research, employees of certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits, and have a fair chance at a promotion.
SECURA’s Great Place to Work survey results ranked the company’s strengths and evaluated employee feedback on leadership, fairness, rewards, and career opportunities. The results showed 97% of employees say they are made to feel welcome when joining the company, 94% said they are proud to tell others they work at SECURA, and 96% say they are able to take time off from work when they think it is necessary.
A summary of SECURA’s Great Place to Work ratings can be found at greatplacetowork.com/certified-company/5003080.
West Bend Insurance Company has announced the addition of two new officers to its leadership team. Dee Brown joins as senior vice president and chief human resources officer, while Bob Cataldo has been named vice president and chief investment officer. Both will play key roles in advancing West Bend’s corporate strategy.
Dee Brown brings more than 25 years of human resources expertise to her new role. Previously, she served as chief human resources officer at Covenant Living Communities & Services, one of the nation’s largest not-for-profit retirement living organizations. Dee holds a bachelor’s degree in Organizational Leadership and a master’s degree in Organizational Development, both from Roosevelt University. She is also SHRM-SCP® certified. Passionate about community service, Dee serves on the board of directors for Ronald McDonald House Charities of Chicagoland & Northwest Indiana.
Bob Cataldo has more than 30 years of investment management experience, including most recently, 11 years with UFG Insurance (United Fire). Bob has a bachelor’s degree in Economics from the University of Notre Dame and an MBA from Drake University. He’s also earned the Chartered Financial Analyst (CFA®) designation. He’s active in his Iowa community, serving on the boards of trustees for Mercy Medical Center and Brucemore, a historic mansion and estate, and volunteering at school activities.
Thank you to our Associate Members.
Progressive
Surplus Line Association of Illinois
Keystone Insurance Group, Inc.
Bronze Level IMT Insurance
Arlington/Roe
Blue Cross/Blue Shield of IL
Pekin Insurance
A. J. Wayne & Associates
AAA, The Auto Club Group
AMERISAFE
AmTrust Insurance
Amwins
Apollo Brokers dba Limit
Auto-Owners Insurance Co.
Berkley Aspire
Berkley Management Protection
Berkley Small Business Solutions
Berkshire Hathaway GUARD Insurance Companies
Bliss McKnight
BluSky Restoration Contractors, LLC
Boundless Rider
BriteCo Jewelry & Watch Insurance
Central Illinois Mutual Insurance Company
Chubb
Columbia Insurance Group
Cornerstone National Insurance Company
Cowbell Cyber
Donald Gaddis Company, Inc.
Donegal Insurance Group
EMC Insurance
Encova Insurance
Erie Insurance Group
Foremost Choice Property & Casualty
Forreston Mutual Insurance Company
Frankenmuth Insurance
Grinnell Mutual Reinsurance Company
IA Valuations
Illinois Mine Subsidence Ins Fund
Illinois Public Risk Fund
Imperial PFS
Independent Mutual Fire Insurance Company
Indiana Farmers Insurance
Insurance Program Managers Group (IPMG)
J M Wilson
Liberty Mutual/Safeco Insurance
Madison Mutual Insurance Company
Main Street America Insurance
Maximum Independent Brokerage, LLC
Mercury Insurance Group
Method Workers Comp
Midwest Insurance Company
Nationwide
NHRMA Mutual Workers’ Compensation
Paychex HR and Payroll Solutions
Pinnacle Minds, Inc.
Rhodian Group
Rockford Mutual Ins. Co.
ServiceMaster DSI
Society Insurance
SPRISKA - Specialty Risk of America
Steadily
Summit Insurance
Travelers
UFG Insurance
Universal Property & Casualty
Utica National Insurance Group
W. A. Schickedanz Agency, Inc./Interstate Risk Placement
West Bend Insurance Company
Western National Insurance
Westfield
XPT Specialty
Gerald “Jerry” L. Butts of Moline, Illinois, passed away on October 23, 2024, at the age of 93. Known for his tireless dedication to community development, Butts was a driving force behind the revitalization of downtown Moline. His visionary leadership and ability to foster collaboration between public and private sectors led to significant investments in the city.
After attending Valparaiso University in Valparaiso, IN and Millikin University in Decatur, IL and serving in Army Intelligence in Alaska during the Korean Conflict, Jerry began a career in insurance. Having earned a Chartered Property and Casualty Underwriter (CPCU) designation in 1960, he took a Vice President position with Oakleaf-Tarbox Insurance, Inc. He acquired full ownership of the agency in 1972 and changed its name to Oakleaf-Butts Agency, Inc. Under his leadership, the agency served personal and commercial clients in the Quad Cities and beyond. He served as Big I Illinois President from 1977-1978. Jerry sold the agency in 1995 and continued to work for what is now Cleveland Insurance Group for another nine years, until he retired at the age of 83.
Butts’ impact extended beyond his professional accomplishments. He was a kind and compassionate individual who genuinely cared for the well-being of others. His unwavering commitment to his community was evident in his numerous volunteer roles, including his involvement with Rotary Club of Moline and various healthcare and educational foundations.
The Big I Illinois Staff and Board of Directors extend our deepest condolences to Jerry’s friends and family.
Tom Franzen, 73, a cherished man known for his kindness, caring and humor left us to enter the gates of Heaven with his wife and daughters by his side at Barnes Jewish Siteman Cancer Center in St. Louis on November 3, 2024.
Born on June 28, 1951 in Litchfield to William “Bill” and Rosezella “Doll” Franzen, Tom was a graduate of Mt. Olive High School Class of 1969 and attended McKendree College. He married Karen Coatney on October 6, 1972.
Tom stepped into the insurance industry where he found a lifelong passion spanning nearly 50 years. He served as Vice President and a Principal of Scheller Insurance Agency, Inc. for nearly 40 years. He continued to enjoy his role as President of Thomas F. Franzen & Co. Insurance and Risk Management consulting firm. Tom was president of the PIA during that association’s merger with IIAI in the early 90s and most recently had been a CE instructor.
Tom enjoyed sharing his skillset and insights through numerous civic and volunteer roles such as being a Board member of HSHS St. Francis Hospital (serving as chairman for four years), and former Chairman and Vice-Chairman of Litchfield Economic Development Coalition. He was a valued member of the Board of Directors for First National Bank of Litchfield for over 20 years and a longtime consultant to the Farm Equipment Manufacturers Association.
He was a proud member of Litchfield Antlers Club, Litchfield Country Club, Alpha Kappa Tau Fraternity, Society of Certified Insurance Counselors, and Risk and Insurance Management Society.
He was happiest when riding through life on his motorcycle, swinging a golf club, hunting, fishing and making memories with his beloved family. His faith was of the utmost importance to him. He never met a stranger and loved conversations with anyone he encountered.
Tom is survived by: Wife, Karen; 2 daughters, Jennifer (Jeff) Franzen-Ballard of Hazel Green, AL & Sarah Franzen of Normal, IL. 3 grandsons, Jeffrey Franzen, Chase (Jordan) Ballard and Matthew Ballard.
“Tom Franzen was a dynamic part of the Big I Illinois education experience in his robust enthusiasm for learning and imparting that enthusiasm in the classroom and virtual arena to everyone who took classes through the Big I Illinois,”said Brett Gerger, Director of Education for Big I Illinois. “Tom inspired many to pursue designations that would have never pursued those designations without his constant playful prodding. Big I Illinois, especially Kristi, Shannon, and myself, have known no better promoter of the Big I Illinois education experience than Tom. We will truly miss his in-depth conversations and discussions regarding various insurance scenarios. We miss you already, old friend, and you will always be in our minds and hearts.”
The Big I Illinois Staff and Board of Directors offer their heartfelt condolences to Jerry’s family and friends.
We had a fantastic turnout for our first Women in Insurance virtual meeting Friday, November 1. During the discussion, we covered technology and time-saving tools. Attendees shared experiences and advice other were able to implement right away.
Brett Gerger, Director of Education & Agency Resources attended the Mid-America Insurance Conference (MAIC) November 6-8 in Kansas City. MAIC is a group of insurance professionals who collaborate to identify and address coverage gaps in insurance policies. They work closely with ISO, NCCI, and ACORD to propose improvements that can benefit consumers nationwide.
Evan Manning, Director of Government Relations, spoke at the NAIFA Illinois “A Day with MDRT” program on November 7 in Elk Grove Village where he provided a legislative update.
The Big I Illinois Board of Directors met November 13 and 14 in Springfield for the first quarterly board meeting of the 2024-2025 association year. Board members viewed a presentation regarding an InsurTech accelerator program, reviewed the 2023-2024 year-end financials and membership reports, and received an update from staff and committees. Prior to the Board Meeting, Big I Illinois committees met to set meaningful action plans that will be implemented in the near future.
Thank you for your business & Happy New Year.
23. Are you looking for an exit strategy while still continuing to produce for a few years or are you ready to sell now? Paczolt Insurance would like to talk with you! We are an independent agency dating back to the 1970s that is located in the western suburbs. Our focus is on mid-to-small commercial accounts and personal lines. Our companies include EMC, Badger Mutual, Safeco, Progressive, and Travelers. We have the flexibility and capital to get a deal done. Contact:
Susan Troppito
Paczolt Insurance susan@piaigroup.com (708) 215-5202
25. Small Agency for sale, including AMS360 management system, website, six carriers, VOIP phone system including a complete crm for insurance agents from Bridge, an Orange Partner with Vertafore. Ideal for an insurance professional expecting a fast start to build with everything in place.
For more information, contact Tami Hubbell, Big I Illinois, at thubbell@ilbigi.org.
20. Since 2004, Central Illinois Agents Group LLC has been providing independent agents with a variety of markets with contingency opportunities. Agents have availability to several markets that they may not be able to sustain or maintain on their own. We have markets for personal, commercial, agricultural and crop insurance lines. Let us help you get to the next level.
Visit www.ciagonline.com for contact information.
02. Forest Park/Oak Park agency for over 60 years, will meet your needs by providing space, markets, marketing & sales support, automation, merging with or purchasing your agency. Perpetuation/ Succession Plans, Buy-Sell Agreements also available. We have experienced, educated and dedicated staff for you and your clients. Have access to our numerous companies, office services and many other resources. Retain ownership in your book with contingency. Please look closely at us- we are an agency you want to do business with! We’ve done it before, we know how- we make it easy! Visit our website at forestagency.com/agents.html, or call for a confidential discussion and a list of Agency benefits.
Dan Browne will provide an agency evaluation/appraisal at little cost to you. Please call:
Dan Browne or Cathy Hall Forest Insurance (708) 383-9000 www.forestinsured.com/mergers-acquisitions
