POLICY FALL 2017
Oklahoma’s
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Magazine
I I A O
NEW BOARD CHAIRMAN
JOE STRUNK
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FALL 2017 | VOL. 50, NO. 10 EDITORIAL STAFF PUBLISHER Denise Johnson, CIC
MANAGING EDITOR Jerri Culpepper GRAPHIC DESIGNER Brandy Akbaran PRODUCTION EDITOR Cathy Cinotto
COLUMNS
24 NEW BOARD CHAIRMAN JOE STRUNK
4 WHY IIAO'S LEGISLATIVE AGENDA TOPS LIST OF MEMBER BENEFITS Joe Strunk, Chairman
FEATURES
CHIEF FINANCIAL OFFICER Malinda Day
19 YOUNG AGENT SPOTLIGHT
EDUCATION AND MEDIA DIRECTOR Susie Current MEMBER SERVICES AND EVENTS DIRECTOR Cathy Cinotto SPECIALTY LINES PROGRAM ACCOUNT MANAGER Cindy Munden, CISR E&O PROGRAM ACCOUNT MANAGER Niki Wigington WORKERS’ COMP PROGRAM ACCOUNT MANAGER Susan Starr Select graphics courtesy of Depositphotos.com
POLICY is the official publication of the Independent Insurance Agents of Oklahoma. POLICY is published quarterly and distributed to all member agencies and other interested parties in Oklahoma. Manuscripts and contributions are welcome and will be considered for publication at the discretion of the IIAO Publications Committee. Correspondence and advertising inquiries may be addressed to IIAO, P.O. Box 13490, Oklahoma City, OK 73113. Ph: (405) 840-4426 or 1-800-324-4426
Visit iiaok.com
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19
COVER
PROFESSIONAL STAFF
PRESIDENT/CHIEF EXECUTIVE OFFICER Denise Johnson, CIC
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28 8 GUARANTEED WAYS TO WIN THE BATTLE FOR TOP TALENT 34 NEWSMAKERS 36 IN BRIEF
7 ASSOCIATION DEDICATED TO ADDRESSING ISSUES OF RELEVANCE, VALUE AND CHANGE Denise Johnson, CIC 12 ANNUAL WEBSITE REVIEW - THE BEST AND THE WORST Tom Cooper 15 EDUCATIONAL AND FUN ACTIVITIES PLANNED FOR YOUNG AGENTS CONFERENCE Vaughn Graham Jr., CIC 17 PROMOTING OUR BRAND Gerald Keeton, State Director 22 THE SEARCH FOR INNOVATIVE INSURANCE SOLUTIONS John Doak POLICY 3
WHY IIAO’S LEGISLATIVE AGENDA TOPS LIST OF MEMBER BENEFITS
Joe L. Strunk
CHAIRMAN
I
was a bit surprised four years ago when I was asked to serve as secretary on the IIAO Board. Although I had served on some committees, attended the annual conference and, of course, taken many CE courses, I wasn’t an overly active member. However, I will tell you I am and have always been a huge advocate of being a member of this association. Our agency works with many state professional associations. I have listened as I’ve sat in on countless professional association meetings. I
If you consider yourself a professional agent/broker, then be a proud and active member of IIAO. quickly learned that every association is always thinking about member benefits and what will attract and retain members. Four years later this same topic dictates the IIAO board meetings and every other professional association I know. Why have I always been a huge advocate of our association? There are many member benefits, but the one benefit that stands above all others is the legislative agenda. Our ability to continue to serve and educate our customers on complex insurance 4 POLICY
topics and issues is solely protected by our legislative agenda. If you consider yourself a professional insurance agent/ broker, or you work for an agent/ broker, your livelihood depends on protecting the insurance profession. Any independent agent/broker who is not a member of this association either doesn’t consider themselves a professional agent/broker or they don’t understand the importance of our legislative agenda. In the last four years we have seen some of the most profound changes, both good and bad, happen in our industry at the legislative levels. Here are just a few that have occurred while I have been on IIAO’s board. • Workers' Compensation Reform – establishing a commission, opt-out option and independent contractor affidavit, just to name a few • Affordable Care Act – no piece of legislation has been more farreaching in insurance as the ACA • Flood Insurance – renewing the NFIP, private flood insurance and compensation • Earthquake – we have never experienced a product that
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has become so prevalent at the state level and insurance commissioner’s level so quickly • Uber – what protection did the passengers have before the insurance industry raised its voice and pointed out the gaps? These were all within the past four years. Think about the legislative issues that are on the forefront. The ACA will be changed in some way, or it will implode and some other national solution will take its place. Driverless cars are already on the roads in other states. Amazon and other tech giants are looking at our industry. If you have never witnessed how a bill/law is lobbied for or against at the state or national level, it is an eye-opening, sobering and, likely, disappointing process. A lot of the time our elected officials don’t understand the impact a bill/law will have on our customers or on us. I am not sure if they don’t have the time or the resources, or just don’t care, to fully IIAO Half page ad:Layout 1
7/24/2009
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grasp some of the bills/laws they support or oppose. Unfortunately, they depend on lobbyists and the loudest constituents in order to make an “educated guess� on whether or not they should support or oppose a bill/law. This is why I believe being a member of IIAO is so important. I am not willing to leave my customers’ best interests or my profession in the hands of an elected official who may not understand the whole picture. IIAO and IIABA spend countless hours working with and educating our elected officials at the state and national levels about why certain bills/laws should be supported or opposed. If you consider yourself a professional agent/broker, then be a proud and active member of IIAO. Denise, the IIAO staff, your board and IIAO volunteers do a great job of educating the membership, elected officials and customers about insurance issues. This makes us better professionals and our customers become better clients. n
Page 1
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ASSOCIATION DEDICATED
TO ADDRESSING ISSUES OF RELEVANCE, VALUE AND CHANGE
“If
I had asked people what they wanted, they would have said, ‘A faster horse’,” the American industrialist Henry Ford is famously credited as saying. When Ford was working on his automobile, Americans of the early 20th century didn’t even know that the automobile was what they really wanted. As I sit here today, I’m starting to more fully recognize the relevance of his insight in this rapidly changing world. Here are some fun facts to think about: • If it weren’t for immigration, the United States would have more old people than young. • The second-largest currency (behind the U.S. dollar) is Reward Points.
• Uber is just a software tool; they don’t own any cars, but now it is the biggest taxi service company in the world. • AirBNB is now the biggest hotel company in the world, and they don’t own any properties. • With the growth of autonomous cars, will we need auto insurance?
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relevant to your current and future needs. We are always looking for ways to determine what the future needs of our members will be. A faster horse? Or maybe something we’ve not thought of before. We’re moving at such a fast pace that if you see a niche you want to fill, ask yourself, “How can I make it happen now?”
Our goal is always to make your business better. Whether your agency is large or small, we have products and services that benefit you.
• 30 percent of the workforce is now computerized (“artificial intelligence”), which means that IT is in charge of one in three of our “workers”. In other words, we won’t need people doing the jobs tomorrow that they did yesterday.
As an association, we are looking for new ways to bring value to you in this ever-changing world. The products and services that we offer have to be
Denise Johnson, CIC
PRESIDENT/CHIEF EXECUTIVE OFFICER
Our goal is always to make your business better. Whether your agency is large or small, we have products and services that benefit you. It’s our value proposition. The communication has to go both ways – we have information for you, but we need feedback to come back to us. Always feel free to contact me with your thoughts and suggestions for the future – I’d love to listen! Speaking of the future, we recently attended the Installation of our own Vaughn Graham as IIABA chairman. What a great honor for our state to have him fill these shoes. He is highly regarded as an expert in his field and a wonderful leader to our organization. If you happen to see him around, let him know how much you appreciate his service. n POLICY 7
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OkPAC CONTRIBUTORS OkPAC is IIAO’s political action committee. It provides financial support for state elected officials who will provide support for or have shown support of issues affecting the insurance industry and to those who share our business philosophies. Only individuals or partnerships can make contributions to OkPAC. Under Oklahoma law, OkPAC can accept no contributions from corporations.
2017 Fred Barker Wes Becknell Stewart Berrong Robert Bramlett Jr. Travis Brown Jeff Burton
Kent Casteel Hal Curry David Eaton Latisha Hornbeck Patricia Gillespie Vaughn Graham Jr.
Raymond Hale III Denise Johnson Gerald Keeton Austin Landes Guy Landes Deborah M. Lawyer
Thad Leonard Larry Neal Kathy Reeser T. J. Riley Michael Ross Daniel L. Somers
Mike Somers Adriane Stachmus Janna K. Story Joe L. Strunk Christopher Webb
InsurPac CONTRIBUTORS InsurPac is IIABA’s political action committee. It pools the voluntary and individual financial contributions of thousands of independent insurance agents to help elect candidates to Congress who share IIABA’s business philosophies. InsurPac is the largest property-casualty insurance industry PAC in the country. Armando Amor Fred Barker Stewart Berrong Robert Bramlett Jr. Travis Brown Jeff Burton Scott Cornelius Hal Curry John “Jed” Dillingham David Eaton Contributors as of 8/11/17
Phil Eitzen David Gammill Benjamin Gorrell Jr. Vaughn Graham Vaughn Graham Jr. Raymond Hale lll Charles Harris Denise Johnson Gerald Keeton Russ Keller
2017
Austin Landes Guy Landes Thad Leonard Patrick Mandeville Melissa M. Manus Kelly Miller Michael Mosley Larry Neal Horace Phillips Kathy Reeser
T.J. Riley Michael Ross Jane Seals Daniel Somers Michael Somers Joe L. Strunk Ryan Teubner Christopher Webb
Is your name not on the list? Use the contributor’s statement on the back of this page to donate.
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Insure Your Future! InsurPac
OkPac
Independent Insurance Agents & Brokers of America c/o IIAO, PO Box 13490, OKC, OK 73113 P: 202/863-7000, F: 405/840-4450 InsurPac@iiaba.net
Independent Insurance Agents of Oklahoma IIAO, PO Box 13490, OKC, OK 73113 P: 405/840-4426; F: 405/840-4450 info@iiaok.com
_____________________________________________________________________________________________________________________
OkPac Contribution Yes, I want to INSURE MY FUTURE with a Personal Contribution to OkPac! (Check contribution below.)
$5000 Millennium $250 Pioneer
$2500 Platinum $150 Founders
$1000 Centennial $100 Young Agent
$500 Gold Other $_______
InsurPac Contribution Yes, I want to INSURE MY FUTURE with a Personal Contribution to InsurPac! (Check contribution below.)
$5000 Millennium $250 Pioneer
$2500 Platinum $150 Founders
$1000 Centennial $100 Young Agent
$500 Gold Other $_______
_____________________________________________________________________________________________________________________
Contributor Information Name ____________________________________________________
Occupation ______________________
Agency _____________________________________________________________________________________ Address ____________________________________________________________________________________ City _________________________________________
State _____________ ZIP ______________________
Phone_________________________________ Email ______________________________________________ Declaration: The contribution listed above was freely and voluntarily given by me from my personal property. I have not, directly or indirectly, been compensated or reimbursed for the contribution listed above. Signature ______________________________________________________________
Date ______________
_____________________________________________________________________________________________________________________
Payment Information
(All contributions must be made by PERSONAL check or PERSONAL credit card.)
Personal Check – Separate personal checks made payable to InsurPac and OkPac. $____________ to InsurPac
$____________ to OkPac
Personal Credit Card – One-time personal credit card contribution. $____________ to InsurPac Credit card information:
$____________ to OkPac MasterCard
Visa
American Express
Credit Card Number ________________________________________________ Expiration Date ____________ Name as it appears on card _____________________________________________________________________ Contributions or gifts to InsurPac and OkPac are not deductible as charitable contributions for purposes of federal income tax. Federal and State law require us to use our best efforts to collect and report the name, mailing address, occupation and name of employer for each individual. Your contribution should be considered strictly voluntary. Any corporate contributions are prohibited.
10 POLICY
SUMMER 2015
IIAO LEADERSHIP CHAIRMAN Joe L. Strunk, CIC, CAPI Alexander & Strunk Inc., Oklahoma City
CHAIRMAN-ELECT Chris S. Floyd, CRM, CIC Brown & Brown Insurance Professionals, Pryor
TREASURER Jeff Burton, CIC, CPCU, CRM INSURICA, Oklahoma City
SECRETARY Christopher K. Mosley, CIC Mosley Agency Inc., Chickasha
STATE DIRECTOR Gerald W. Keeton Cole, Paine & Carlin, Oklahoma City
IMMEDIATE PAST CHAIRMAN Thad Leonard Rich & Cartmill Inc., Tulsa
DIRECTOR Stewart L. Berrong, CIC, CRM Ed Berrong Insurance Agency Inc., Weatherfod
DIRECTOR Heidi Nease-Walker, CISR Nease Insurance Agency LLC, Okeene
DIRECTOR Christopher W. Webb, CIC, CRM Rich & Cartmill Inc., Oklahoma City
YAC CHAIRMAN Vaughn Graham Jr., CIC Rich & Cartmill Inc., Tulsa
IIAO MISSION STATEMENT The mission of the Independent Insurance Agents of Oklahoma, working in the public’s best interests, through active member participation, is to be the unrelenting advocate of independent insurance agents and to fulfull the education, political and business needs of its members.
ABOUT IIAO The Independent Insurance Agents of Oklahoma is the largest insurance trade association in Oklahoma. With more than 475 independent insurance agencies, we represent nearly 3,000 independent insurance agents and their employees and more than 100 company members. IIAO member agencies range in size from one person to some of the largest agencies in the region. Founded in 1906 as the Oklahoma Association of Local Fire Insurance Agents, IIAO is a result of the consolidation of the Independent Insurance Agents of Oklahoma, Inc. (IIAO) and the Oklahoma Association of Professional Insurance Agents (OAPIA) on Jan. 1, 1992. IIAO policy is set by a board of directors elected at the annual conference. Policy is implemented by a professional
staff located in Oklahoma City. IIAO’s mission is carried out through a variety of programs designed to enhance the business of independent insurance agencies. IIAO is an active advocate on behalf of independent agents before legislative, regulatory and judicial groups in Oklahoma and at the federal level. IIAO is affiliated at the national level with the Independent Insurance Agents and Brokers of America with offices in Alexandria, Virginia, and Washington, D.C. IIAO is an excellent source of information through POLICY magazine, published quarterly, and the Oklahoma Agent, a monthly newsletter of time-sensitive material for its members.
ANNUAL WEBSITE REVIEW – THE BEST AND THE WORST
Tom Cooper, Attorney at Law PIGNATO, COOPER, KOLKER & ROBERSON, P.C.
I
t’s that time of year again, when we visit independent agents’ websites to find the best and worst. And we are not talking here about the prettiest websites or the ones with the most bells and whistles. We are instead talking about best and worst from the standpoint of giving an unhappy and litigious customer evidence to use against you in a lawsuit. Remember the starting point: In Oklahoma, barring statements or representations to the contrary, an agent has no duty to consult, advise or provide risk management-type services to a customer. Without evidence to the contrary, an agent – while certainly
...there is probably little to be gained, and much to be lost, in making over-the-top representations. knowledgeable – is not held to the standard of an “expert.” Instead, an agent is, technically, simply an “order-taker” for his customer. While it’s perfectly natural to try to set yourself apart through advertising, some websites continue to go too far by voluntarily embracing (or at least appearing to embrace) duties agents simply do not have. Below I will set out some examples of poorly worded statements found on agents’ websites, followed by some examples of better, more innocuous, statements. I did an internet search for “insurance agency Oklahoma City,” and another search for “insurance agency Tulsa.” The following
examples came from the very first page of hits. And, in order to protect the guilty, some words have been slightly changed or rearranged. How about the following for giving yourself a duty of care you would not otherwise have: Each one of our clients is assigned a team of experts who will address all your concerns. We have the insurance specialists who can tailor a specific package for your needs and risks. We can ensure you don't have any gaps in coverage down the road. With our knowledge of industry laws, we can advise you on the coverages which best fit your needs. We will design a specialized package according to your property, liability, and casualty needs. Our agents will consult with you on the coverage and premiums that meet your specific needs. No matter what type of insurance you require, our industry experts will help you identify your exposures and structure a plan to meet your needs. The problems with these statements should be self-evident. The common themes are agents holding themselves out as “experts,” and promising what amounts to risk-management services by using words such as “consult” and “advise.” Do continued on page 14
12 POLICY
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E&O Loss Prevention Tip: NEVER sign a document on behalf of an insured.
COACH SAYS: Carriers rely on statements made on the application, and any error will be attributed to the party signing the application. Never sign applications on your clients’ behalf.
DON'T LET THIS HAPPEN TO YOU
Route this to your team roster!
An agent sent a blank application to a client for coverage on an apartment building, which the client filled out. The carrier returned the application as incomplete, including a question about prior losses. Not wanting to further delay coverage, the agent indicated no prior losses and signed the client’s name. Following a fire loss, the carrier declined payment based on failure to disclose a previous loss on the application. Signing the claimant’s name constituted forgery and $160,000 was paid out against the agent’s E&O policy to settle the claim plus the deductible.*
For more information about the Big “I” Professional Liability program, your trusted source for insurance agents and brokers E&O coverage, contact your state association or visit www.independentagent.com/EO . *This claims scenario is fictional. Westport employees created it based on experience and knowledge of case law using relatively common facts, allegations, defenses and amounts. Do not rely upon such scenarios to predict an outcome, or to make claim and litigation decis ions.
Insurance underwritten by Westport Insurance Corporation.
ANNUAL WEBSITE REVIEW – THE BEST AND THE WORST such statements truly account in more business for the agency? Consider these alternatives, also found on the first page of hits:
continued from page 12
Finally, bonus point go out to the agency that hit the nail right on the head by reminding customers and prospects as follows:
You know your business better than anyone else, but we will work with you so that you can identify the risks you want to retain and the risks you want to insure against.
There is no better way to understand your homeowner’s policy than to read it! We suggest you pull out your policy and find the declarations page, the policy booklet, and the endorsements.
Our experienced staff will provide you with competitive quotes so that you're in a position to make a knowledge-based decision.
This type of statement puts a plaintiff’s lawyer in a bind; if he attempts to rely upon the website for language favorable to the plaintiff, then he is arguably stuck with website language which is unfavorable, such as “read your policy!” The irony in all of these examples is that I personally do not believe that the “extra” language – i.e., the language by which agents are taking on duties they do not otherwise have – truly makes a difference on who the prospective customer chooses. Indeed, the customer or prospective customer is more than likely perusing your website simply to make sure you have a web presence in general and to get your phone number. In other words, there is probably little to be gained, and much to be lost, in making overthe-top representations. n
Our team members are ready to talk to you or answer your questions whenever you need them. We have numerous companies to choose from to find you the best company for your needs. The innocuous nature of these statements should likewise be self-evident. The common themes are touting “experience” rather than “expertise,” promising nothing more than being responsive to questions, and emphasizing that it is the customer who makes decisions, not the agency on the customer’s behalf.
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14 POLICY
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FALL 2017
EDUCATIONAL AND FUN ACTIVITIES PLANNED FOR YOUNG AGENTS CONFERENCE
A
s I write my first article for the Policy magazine, I must start off by thanking a Young Agent who has been through a lot in the past 12 months. Melissa Manus, our past chairman for the Oklahoma Young Agents Committee, is someone we all have admired during the past year. Not only has Melissa done a wonderful job of leading our committee, increasing our Young Agent participation and helping grow our annual Young Agents Conference, more importantly, she has battled through cancer during her tenure. To see Melissa continue to lead, encourage, support and be a friend to all of us on the committee during this time has been nothing short of inspirational. On behalf of the whole Young Agents Committee, we thank Melissa for everything she has done, and want her to know she has our support in her continued battle. As you read this article, we will be gearing up for our annual Young Agents conference to be held Sept. 28 and 29 at the Aloft Hotel in downtown Oklahoma City. This will be our third year in a row to hold our Young Agents conference separate from the IIAO conference. The committee believes we have a great mixture of educational and fun activities planned for the twoday event. The first day will consist of two nationally known speakers, Mike Crandall and Sydney Roe, who will discuss business communication skills along with digital communications in today's world. We are very fortunate to also have Will and Lisa Lemanski come in from Michigan to discuss their experiences of moving up in agencies and the dynamics of working in a family agency. I think our group will relate really well to them and learn quite a bit about working in a family agency, a common occurrence for young agents in Oklahoma. The full day of speakers, lunch and activities will be followed by a happy hour(s) and then dinner at Yucatan Taco Stand and Tequila Bar & Grill. Finally, we will end the night at an old stomping ground for Young Agents from years ago, Michael Murphy's Dueling Piano Bar. The next day will include breakfast and a discussion with Jerry McConnell about what to do during an active FALL 2017
Vaughn Graham Jr., CIC
YOUNG AGENTS COMMITTEE CHAIRMAN
shooter event. You won't want to miss his presentation! Door prizes will be given throughout the two-day event. If you haven't already signed up, please do so on the IIAO website. We will also be sharing exciting news about the venue for our 2018 Young Agents Conference! As I enter my year as the Young Agents chairman, I feel blessed to be able to serve and learn from a
It is my goal to continue the path that has been set by previous young agents over the years. number of different people who have served as chairman during my tenure on the committee. It is my goal to continue the path that has been set by previous young agents over the years. Our young agent group is only as strong as those who participate. I am also fortunate to serve as the chairman during the same year that my father, Vaughn Graham, will be the national chairman of IIABA. I know how much he looks forward to serving you and all independent agents throughout the United States. It's an honor to call him my father and to be able to work with him every day. Thanks again to everyone who is involved in the industry. If you haven't been active in Young Agents of Oklahoma in the past, no worries. We'd love to have you come to any event. I look forward to serving as your YAC chairman this year. Don't hesitate to call or email me with any questions you may have. n
POLICY 15
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PROMOTING OUR BRAND
M
uch has been written and said about Trusted Choice.com and the leads generated for our agency members. What has not been widely reported is the constant efforts to promote TrustedChoice.com and increase the number of hits and leads generated. Each August, TC partners with Make-A-Wish for an annual Facebook campaign. This campaign highlights tremendous sponsorships and events throughout the year between the state associations and the corresponding Make-A-Wish chapters through Make-A-Wish grants. Wish stories and event sponsorships are highlighted, and the Trusted Choice branded content reaches tens of millions of unique consumers during the month. Last year’s campaign saw nearly 27 million unique page views for the month of August, and of those, 2.3 million either liked, shared or commented. Our brand exposure during this campaign is substantial and, in addition, there is a long-term impact from the campaign as our impression and engagement numbers remain elevated for months after the campaign. We should take great pride that last year’s effort raised $150,000 for Make-A-Wish. As this publication is being prepared, this year’s campaign will take place, and no doubt will exceed, last year. After the campaign, TC will execute a test sponsorship with Buzzfeed, which will accelerate our Make-A-Wish campaign exposure as it will appeal to a much younger consumer who typically respond favorably to “causeoriented” brands. Partnering with such a tremendous cause allows us to get our brand in front of millions of consumers. A coming attraction this fall will be a new-member resource website, Trusted Choice Brand Center. This will be an easier-to-navigate platform and will highlight the many benefits available to IIABA members through Trusted Choice, including advertising, marketing materials and consumer content for use on agency websites and social media. FALL 2017
Gerald Keeton
STATE DIRECTOR
A coming attraction this fall will be a new-member resource website, Trusted Choice Brand Center. There also will be a “Click to Chat” feature allowing members to connect with a TC team member during business hours. Another program that will be available this fall will be MeasureUp, a new membership marketing benchmark platform. The aggregate data collected will allow us to have better insight into sales, marketing and operations of “like” agencies. The greater the participation of our member agencies, the greater the usefulness of this tool. In addition to the efforts of TrustedChoice.com to get the maximum online exposure, television advertising continues. TC’s continued work with CNBC on sponsored content promotion will include ads that highlight important “insurance tips” to small and medium businesses. The ads will be seen on the Billion Dollar Buyer TV show as well as other times throughout the CNBC business day and primetime schedules beginning in February 2018. TC will also continue advertising on FOX news shows – Fox and Friends, Tucker Carlson, The Five, Fox Weekend Morning, and others. This has been a brief overview of some of the efforts that TrustedChoice.com is making on our behalf to promote our brand. Whether it is the Make-A-Wish campaign, creating a new internet platform to assist our sales and marketing efforts, or advertising on television, TrustedChoice.com is working relentlessly to provide our agency members with a sustainable, competitive advantage. n POLICY 17
A Commitment to Young Independent Agents
2017
Together, Your Future is Our Future 2017 Heavy Hitters Program Union Standard is committed to working with young independent agents because their future is our future. Investing in the education and development of the next generation of agency professionals provides the support necessary to achieve the real goal of mutual success. We recognize the need to foster new talent to perpetuate the independent agency system, as well as provide our best young agents an even greater competitive advantage. Interested in participating in our Heavy Hitters Program? Contact your Regional Sales Director, Wes Becknell, today.
Union Standard’s Heavy Hitters Program – Preparing Agents for Tomorrow
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1601 NW Expressway, Suite 820 | Oklahoma City, OK 73118 P 405-843-1555 | TF 800-934-9150 | F 405-840-0654 | usic.com Union Standard Insurance Group is a member company of W. R. Berkley Corporation, an insurance holding company that is among the largest commercial lines writers in the United States.
YOUNG AGENT SPOTLIGHT presented by
LIKE QUEEN'S FREDDIE MERCURY
YOUNG AGENT KAYLA HOLLEY ESCHEWS GROWING OLD AND BORING By Jerri Culpepper
W
KAYLA HOLLEY, PRODUCER LEDBETTER INSURANCE AGENCY
hat Ledbetter Insurance Agency producer Kayla Holley didn’t learn about getting along with others as part of growing up in a large family – she’s the youngest of eight children – she honed as an employee at a call center for a cell phone service provider. “Talk about improving my communication, deescalation and tech-savvy skills!” she said with a laugh. Holley, the daughter of Roderica Holley and the late Kenneth Holley, was born in Moore and grew up in Oklahoma City in what she describes as a modest home. She was homeschooled and earned her diploma in 2010 from the Central Oklahoma Alliance of Christian Homeschoolers. She currently is pursuing a bachelor of business administration degree through Mid-America Christian University, with plans of beginning work toward her master’s degree in 2018. Unlike many of her colleagues, Holley did not follow a parent or other relative into the insurance business. In fact, this vivacious, positive-thinking young woman didn’t initially have a long-term plan for what she wanted to do to earn a living. “Like [singer/songwriter and former Queen lead vocalist] Freddie Mercury once said, ‘I have no aspirations of growing old and boring,’” she said. “In many aspects of my life, I have always had an attitude of being ‘all in.’ As a young adult, I knew no matter where I ended up, I was going to end up on top.” Holley’s first job after graduating from high school, before the call center, was at a jewelry store. She joined
Ledbetter Insurance Agency in Oklahoma City in January 2014 to perform administrative work upon the recommendation and suggestion of her sister-in-law, Grace Holley. “I am privileged to continue to work with this wonderful and very talented individual who,” she says, chuckling, “is often referred to as ‘the good Holley’ in the office.” It wasn’t long, however, before Holley began to feel the need for greater challenges, so she voiced an interest to the agency leadership in moving up. It took some persistence and assurances that she was serious, but eventually she was hired as one of Ledbetter’s first young, female producers. “I am grateful for Ledbetter’s thorough investment into my insurance knowledge and skills, but mostly I am just grateful for the opportunity,” she said, giving special credit to Ledbetter Vice President Bruce Chadick for serving as a mentor to her. “Not only did he tolerate me shadowing him for several months, he shared with me his expertise,” Holley said. She notes that her brother Jonathan Holley, who is with an independent insurance agency in Ada, also has shared his knowledge of the industry with her and remains her biggest fan and supporter. Today, Holley cannot imagine working in another career field. Asked about her relationship with Union Standard, she replied, again laughing, “I consider insurance my career, but my hobby is giving Wes Becknell at Union Standard a hard time! continued on page 20
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YOUNG AGENT SPOTLIGHT
continued from page 19
“It has been my privilege to represent Union Standard and to get to know Wes and all the team members,” she added. “Wes is always a click, call, or text away from locking in new business.” In both her personal and work life, Holley says her greatest challenge is finding a good balance between family, work and education. “I am truly blessed with the people God has put in my life,” she elaborated. “I have the dearest friends and loving family, but my pride and joy is my 3-yearold mini-me. We enjoy being outdoors, loving on people and dreaming with our eyes open!” Perhaps in part because she was home-schooled, Holley considers continuing education an essential component of her career growth. “I vow to never quit learning or pursuing my designations,” she stated, adding that she currently is working on earning designation as a Certified Insurance Councilor through the National Alliance for Insurance Education and Research.
Maintaining involvement in professional organizations also is a priority for her; she currently is involved in several industry organizations and is interested in pursuing opportunities within these groups to enhance her leadership skills. Looking back, Holley cites the quality of the clients she has attracted thus far as her greatest career triumph – and her main goals moving forward are to continue to build up those relationships with existing clients and to find new opportunities to serve others. So, what “drives” Holley in her career? “One of the most fulfilling rewards for me is the opportunity to meet new people and learn about their business,” Holley replied. “I do not believe there is a ‘perfect’ career or job out there – only a passion and what you turn it into.” Judging from her upbeat, can-do attitude and willingness to work (and play) hard, there’s little doubt that Holley’s future in the insurance industry is bright, indeed. n
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THE SEARCH FOR INNOVATIVE INSURANCE SOLUTIONS John Doak
OKLAHOMA INSURANCE COMMISSIONER
T
he Webster Dictionary defines innovation as “the introduction of something new.” Innovation in any industry can be a game-changer, but it is especially crucial in the insurance industry. Think about some of the insurance innovations we’ve seen in just the last few years. Internet Perhaps nothing has changed our lives more than the World Wide Web and smartphones. Almost everything you need or need to know is right at your fingertips. The ability to shop for and purchase policies from your couch, using your laptop or even your mobile
Innovation in any industry can be a game-changer, but it is especially crucial in the insurance industry. phone, has drastically changed the way you do business. Gone are the days of sitting in your office waiting for the phone to ring or a potential customer to walk in that door. All you have to do is turn on your computer or open an app to connect with your clients. Telematics Usage-based insurance, or telematics, allows insurers to more closely align driving behaviors with premium rates for auto policies. A black box that tracks miles driven, speed, hard braking, 22 POLICY
hard cornering and other factors gives underwriters the data they need to make a more accurate evaluation of risk. Consumers, in turn, may be eligible for a discount if they prove to be a safe driver. The technology continues to evolve. By the end of 2018, it’s estimated that 80 percent of new cars for sale in the United States will be equipped with on-board telematics devices, and by 2020, 70 percent of all auto insurers will use telematics. Big Data As you know, insurance is all about analyzing risk. The more information you have, the more likely you are to make an accurate assessment. Over the last 20 years the amount of digital information available to everyone – not just insurers – has increased exponentially. Big data, along with analytics and predictive modeling, has revolutionized the way many lines of business are priced and underwritten. The applications include underwriting, claims and capital management, just to name a few. The biggest challenge is identifying what data to gather, how to properly analyze it and how to use it to benefit your business. Thanks to big data, premiums are fairer than ever. Forward-thinking organizations are using new technologies to offer FALL 2017
improved products and services outside of the technologies can breathe new life into a stagnant traditional insurance realm. Overall, it’s an exciting marketplace. I challenge you to consider innovative time to be in the insurance industry. solutions that bring added value to your clients and “New technologies are reducing losses and costs help you stay ahead of your competition. while saving lives and increasing customer satisfaction, As always, if you have any questions, please don’t increasing risks and driving new business models and hesitate to contact my office at 1-800-522-0071. n consolidation within the industry,” said Gary Reader, global head of insurance, KPMG International. “New advances such as driverless cars, machine learning, home sensors and ‘robo-agents’ empowered with artificial intelligence offer a world of opportunity for insurers.” Innovation is something I am truly passionate about. This past April, I hosted a Healthcare Innovation Summit at the Oklahoma State University Health Science Center in Tulsa. Our speakers introduced creative solutions to some of the biggest problems in the health insurance marketplace. Their cutting-edge ideas included the use of mobile apps, wearable heart monitors and hightech shoe soles. Unfortunately, they’re hitting roadblocks because their ideas are outside the box. If we want to see true progress, that attitude must change. As a member of the NAIC Innovation Task Force, I’ve encouraged Our exclusive market arrangement federal lawmakers to explore options is your competitive advantage. like these, and to help return power Now you have access to the world’s leading admitted and non-admitted to the states, so these big ideas can carriers and exclusive markets unobtainable by another wholesale become reality. If we want to fix broker or independently. Take your agency to the next level now, health care in this country, we have email your risk to submit@midman.com. to embrace these new ideas and work together to improve patient care, reduce costs and increase access to 800.800.4007 lifesaving services. midlandsmgt.com Since 1990 With insurance, people want peace marketing@midman.com of mind by knowing their risk is covered. For insurers, the issue is how to do this profitably and efficiently. GENERAL LIABILITY | COMMERCIAL AUTO | EMPLOYEE INJURY BENEFITS | FARM & Customers not only expect innovation, RANCH | PROFESSIONAL LIABILITY | SPECIAL EVENTS | OIL & GAS | MUCH MORE they demand it. New and existing
TIME TO TAKE
YOUR AGENCYTO THE NEXT LEVEL
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POLICY 23
COVER STORY
NEW BOARD
CHAIRMAN
JOE STRUNK By Jerri Culpepper
I
IAO’s incoming chairman, Joe Strunk, describes himself as analytical, to-the-point, and efficiency-minded, thanks to an education and background in industrial engineering. But, he’s quick to add, those attributes are tempered with a healthy – if sometimes off-kilter – sense of humor. “If I was describing myself, I would probably say I love a sense of humor and am not always politically correct. I think our society has lost its sense of humor and its ability to laugh at ourselves,” he says, adding: “If you can’t honestly look at yourself and laugh a little, then we probably won’t get along too well. Fortunately, I have a lot of friends who can, and a fair amount of them are in the insurance business.” Strunk, a native of Oklahoma City, was “born into” the insurance agency via his father, Robert, who with his partner Stan Alexander launched Alexander & Strunk in 1972. But the younger Strunk did not immediately pursue insurance as his career of choice. “I had always wanted to be an engineer, designing things,” said Strunk. So, he enrolled at Oklahoma State University, where he earned his bachelor’s degree in industrial engineering and management. (He later earned his MBA from the University of Oklahoma.) Upon graduating from OSU, Strunk landed a job as an application engineer for Corken Inc. in Oklahoma City, where he worked from 1995 to 1997. By that time a married man, 24 POLICY
FALL 2017
COVER STORY
Looking forward to his tenure as IIAO board chairman, Strunk, who is a member and former president of the American Institute of Professional Association Group Insurance Administrators, said he will continue the focus his predecessors have had on emphasizing the value of the association’s membership benefits.
IIAO incoming chairman Joe Strunk enjoys spending as much time as possible with his wife, Jill, and their three children at their family cabin in south-central Colorado.
Strunk was faced with a dilemma: the company wanted to train him overseas, which he knew was a prerequisite for earning promotions and a higher salary. But his wife, the former Jill Bartley, did not wish to move away from her home state of Oklahoma. Fortunately, Strunk’s father offered him a position with his insurance agency. Though initially it entailed a pay cut, his father promised him that ultimately the field offered him the potential to earn even more – a prediction that was later borne out. Strunk says he had drawn upon his education and engineering background throughout his career at Alexander & Strunk in Oklahoma City. “Industrial engineering is about efficiency. Whether you’re talking about procedures, management style or working with the customer, I always choose the most efficient and analytical route,” he says. In 2002, Strunk’s brother, Guy, joined his brother and father at the agency. Five years later, the brothers purchased the agency from their father, who semiretired to Coalgate, Oklahoma, FALL 2017
POLICY 25
COVER STORY where he owns another insurance agency that’s operated by another son, Dillon. (Former partner Stan Alexander sold his portion of the agency to Strunk Sr. sometime in the 1980s, though he retains an office there and still works as an agent.) In 2010, Strunk was approached by Beale Professional Services owner Richard “Dick” Beale, asking if the brothers were interested in purchasing his agency, also located in Oklahoma City. With Beale’s daughter, Jennifer Beale, the brothers bought the agency and within the next year, the three formed 3000 Insurance Group, LLC. “We mostly market our products under 3000 Insurance Group LLC, or 3IG for short,” he noted. Today, their agencies are endorsed by six different state professional associations for insurance products and although most of their marketing is concentrated with association business, Strunk said they really are “a full retail insurance agency for small-business owners or professionals.” Strunk is proud of his leadership’s success in purchasing and growing its agencies. “We have doubled our overall size in the past 10 years,” he observed. Their biggest obstacle? The Affordable Care Act, he says, has resulted in profound changes in the way their agencies market and service their clients. “Clearly,” he says, “the Affordable Care Act has, and continues to have, a tremendous effect on agents and our clients. It is a very far-reaching law that apparently will continue to morph as our elected officials see fit. Understanding the ACA and explaining it to our clients has been a fairly large challenge. I feel we do a great job of explaining the nuances of the ACA. We continue to add clients who look to us for advice on the ACA.” Looking ahead, Strunk said he hopes to double the size of their agencies over the next five to 10 years – a
26 POLICY
feat he recognizes won’t be an easy one, but one he thinks they can meet. Looking back, he knows he made the right decision all those years ago to pursue a career in the insurance industry. “I recently told my father I have been doing this for 20 years. He asked if I had any regrets. My answer: ‘no regrets.’ This career allows me to work with professionals 24 hours a day. It allows me a very nice lifestyle, and I consider a large majority of my customers friends. So, if you can work with your friends and make a good living doing it, how can you have regrets?” Looking forward to his tenure as IIAO board chairman, Strunk, who is a member and former president of the American Institute of Professional Association Group Insurance Administrators, said he will continue the focus his predecessors have had on emphasizing the value of the association’s membership benefits. “I am particularly passionate about making sure the membership and all independent agents know the amount of legislative work the association does on behalf of its membership and our clients/the public,” he stated. “Independent agents should understand how important it is to have someone protect our profession at the state and national level,” he added. “Without IIAO looking out for our industry, we wouldn’t be able to spend time working with and educating our clients.” Outside his career and professional activities, Strunk enjoys spending quality time with his family – as often as possible at their family cabin in south-central Colorado. He and his wife of 21 years have two daughters, an 18-year-old daughter who will attend the University of Arkansas this fall and a 15-year-old who is a sophomore at Crossing Christian School, and a son, age 11, a sixthgrader, also at Crossing. n
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FEATURE
8 GUARANTEED WAYS TO WIN
THE BATTLE FOR TOP TALENT By Tom Baker
A
s an agency owner, you have a problem. The problem has nothing to do with competitive markets, competition or reduced commission rates. It’s not only the most important challenge to solve, it’s also possible that you’ve given up trying to solve it. The problem? Attracting, developing and retaining top talent. The battle to attract and develop top talent has never raged more. Every industry constantly fights the battle for top talent, and often that battle is lost. The war for top talent is real, and it’s imperative that every agency owner pays attention, especially to the increasing number of millennials seeking their next place of commitment. What should be your battle strategy? Think like “Shark Tank.” Identify the roles you and your next applicant will play in your next hiring experience. These roles may not be what you expect. A great example is the hit TV show “Shark Tank,” where entrepreneurs are offered needed investment dollars plus practical business principles. The show challenges a unique paradigm shift for owners preparing to attract their next talent superstar. Let’s do a role reversal from traditional thinking. You are not Mark Cuban. You, the agency owner, are the entrepreneur. The applicant is the shark you’re pitching to. Your goal is to convince the shark to invest their time and talent in your agency. As the entrepreneur, you don’t just want a “money person.” You want a strategic partner who shares your commitment to success. Here is the question that 28 POLICY
should keep you up at night: “What do you have to offer top talent that will inspire them to invest in you?” When you discover the answer to that question, you’ve just won your first battle for top talent. Develop your unique employment brand. Recent changes in the economy and the labor market dynamically impact the balance of power between employers and applicants seeking employment. Since more people are working, less are available to hire, so you need a compelling employment brand to attract top talent. Top talent does not have to settle for second-best. An effective employment brand tells a compelling story about what it’s like working at your agency. The FALL 2017
FEATURE brand includes your agency culture, compensation, work environment, employee benefits and employee value proposition. Winning the battle for top talent requires you to create an environment where people willingly stand in line for the opportunity of working at your agency. Top talent does not settle for second-best; neither should you. Don’t hire the person who can do the job. Hire the person who fits your employment culture, and then train them to do the job.
talent pool by looking for people who can work remotely. • Local colleges: If local colleges and universities do not have insurance-related programs, look for students majoring in communication, English literature and public speaking. • Agency website: Create a page on your website that includes your core values, vision for the agency and staff video testimonials.
The war for top talent is real, and it's imperative that every agency owner pays attention, especially to the increasing number of millennials seeking their next place of commitment. A few examples of a strong employment brand include a fun place to work, clear core values, flex hours, clear roles and expectations, a performancebased compensation plan and current technology. Hire for the position, not the person. Create job descriptions defining the “hat” worn by anyone who sits at a particular desk. Making allowances for individual strengths and weaknesses destroys the agency’s ability to have consistent standards for how the agency does business. Hire for the position, not the person (or for their potential) Go where the people you want to hire live, work and hang out. Hiring is a marketing effort. Approach finding and hiring top talent in the same way you look for new customers. The only difference is that you’re looking for “internal” rather than “external” customers. Involve your staff and customers in the referral process. Look in places where your competition probably isn’t looking. • High-end hotels: They provide customer-service training superior to any other industry. • Social media: Use it to educate the world about your agency, then look for people who like, comment and follow your updates. • LinkedIn: LinkedIn is one of the most unutilized business resources and allows you to expand your FALL 2017
Ask meaningful questions that relate to the position. Applicants prepare perfect answers to triedand-true interview questions, so ask unplanned questions designed to discover the real person you’re interviewing, such as: • “In your own words, explain the job you’re interviewing for.” • “How comfortable would you be if you failed 25 percent of the time in your first three months?” • “What is one thing you learned about our agency before coming to this interview?” • “Would you rather step out not fully prepared for a task and fail or wait to proceed until you are reasonably confident you will succeed?” Never ask, “What income are you expecting or need to make?” That’s like asking a customer to name their own price for their insurance. Tell the person what you pay for top talent. Provide applicants with the responsibility to demonstrate doing their job. The best predictor of how an applicant will perform is to ask them to demonstrate how they will do their job. Demonstration transforms the interview from Q & A to Show and Tell. Ask applicants to perform specific position-related tasks such as to answer the next phone call, respond to an angry customer, respond to a request for a quote, or ask for a referral. POLICY 29
FEATURE Set objective metrics in the probationary period. The objective is to confirm that the applicant works well with existing staff and fits the agency’s culture. • Assign Key Performance Indicators (KPIs) during a 90-day probation period. The goal is to objectively confirm that the applicant fits the position and can deliver the desired results. • Examples of KPIs for the probation period The purpose of KPIs is not setting stretch goals but changing behavior. Just like a car that veers to the right if the driver gets distracted and looks to the right, KPIs change actions by daily focusing what staff looks at such as: • Learn a carrier product: Without asking anyone in the agency any questions, be prepared to discuss and demonstrate your understanding of a (CARRIER) product for (LOB) and how it benefits our customers. • Learn about the agency management system: Without asking anyone in the agency, learn these functions (NAME FUNCTIONS) of the agency management system.
A performance-based compensation plan transforms compensation from an expense to an investment because staff has the responsibility to earn their planned compensation rather than the opportunity to earn extra money if they want or need it. Knowing the ROI for a new hire means agencies are empowered to offer higher compensation because the full compensation is paid out only when staff delivers the results. While salary is important to millennials, it’s often not the primary motivation (“Class of 2012” study by Achievers and Experience, Inc.). According to Razor Suleman, founder and chairman of Achievers, in a report by Forbes, “Once a salary meets their basic needs, Millennials still desire progression and growth, along with challenging and interesting work that piques their interest.” Catalyst created Symphony to deliver two significant changes in traditional compensation plans. The objective is a compensation plan that creates the responsibility to become a stakeholder in the growth and success of your agency. • “Pay people enough to take the issue of money off the table.” (Dan Pink, “Drive”)
• Achieve goals related to their job: Tasks such as scheduling account reviews, asking for customer testimonials, signing up customers for EFT and completed quotes.
• Include intrinsic motivators such as personal growth, achievement and recognition.
• Score 100 percent on a compliance audit: The purpose for the compliance audit is to confirm the applicant can and will adhere to the agency’s policies and procedures.
• Include Key Performance Indicators based on the agency’s key business behaviors.
• Conduct a peer evaluation: The objective is to receive feedback from staff that the applicant fits in as part of the team. Offer the position only if the applicant achieves a specific score on their performance during the probation period. For example, if the applicant scores 95+, then you offer them the job. If not, they are not a good fit and you have an objective reason for not offering a full-time position. Offer a performance-based compensation plan. Performance-based compensation is a strategy where staff is paid based on results rather than effort.
30 POLICY
• Offer a high enough compensation plan that adequately pays the applicant’s bills.
• Include revenue sharing that offers interviewees the opportunity to earn a part of every revenue dollar once the agency’s goals are achieved. Hiring is a challenge, but it’s a battle that can be won. The title of Marshall Goldsmith’s book, What Got You Here Won’t Get You There, perfectly explains why agencies need to consider a drastic revision of the recruiting, hiring, developing and retaining process. n Tom Baker is the CEO of Catalyst Insurance Systems. As an author, speaker and coach, Baker has developed a unique talent management system, Symphony. Symphony empowers agency owners to implement a performance-based compensation system that transforms compensation from an expense to an investment.
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NEWSMAKERS Bill Zilmer Named Tulsa Branch Manager Chubb has announced the appointment of Bill Zilmer as vice president and Tulsa branch manager, effective Aug. 1. Zilmer joined Chubb in 2001 as an excess/umbrella underwriter in the Tulsa office. The following year, he was promoted to a practice leader position and began working with several branch offices throughout the Southwest Region, including Tulsa, Dallas, Houston and Austin, as well as Chubb branches in Nashville, Birmingham and Tampa and the Marsh office in Atlanta. “In 2008, Bill began a dual role as regional excess/umbrella practice leader and CIS underwriter for Tulsa,” said Timothy Rau, regional executive officer of the Southwest Region. “He was promoted in 2015 to commercial insurance manager for Tulsa, overseeing the Commercial Property & Casualty operations for Oklahoma and Arkansas.” Zilmer earned his bachelor of science degree in environmental management from Northeastern State University in 1995. He succeeded the retiring Kirk Bailey, who enjoyed a long and successful career with Chubb. Bailey served as vice president and Tulsa branch manager since 2001. He began his 38-year career at Chubb as a loss control trainee in Dallas, and spent his first 20 years in loss control in management roles of increasing responsibility. His most notable accomplishment during this period came after Hurricane Andrew in 1992. His work with two Texas A&M professors and insurance tech firm RMS led to Chubb's minimum wind standards, many of which were implemented in South Florida's building code as well as the first catastrophe model. As branch manager, Bailey more than doubled Tulsa in size. He was most proud of his team and their ability to deliver on the promise of the Chubb brand, including Chubb’s response to a major CAT event that occurred in 2010, when they really showed the value of Chubb claims and support of our independent agents. Rau said, “We wish Kirk well, and congratulate Bill on his new role.” 34 POLICY
IIAO Places Several Oklahomans on National Industry Committees Several IIAO members and staff have been named to serve on committees of the National Independent Insurance Agents and Brokers of America for 2017-2018. “Oklahoma is especially well-represented for the next year on a variety of committees of importance within the independent insurance agent industry,” said Denise Johnson, IIAO president and CEO. “Of course, having Tulsa’s Vaughn Graham serving as chairman of the IIABA is a huge honor for Oklahoma and a very prestigious role within our industry. In addition to Vaughn, I am excited to have several other IIAO member agents and staff members step forward to serve our industry on these important committees.” Johnson was named to serve on the Big “I” Advantage Committee. Other IIAO members and staff named to IIABA committees for 2017-2018 include: InVest – Ryan Teubner, Rich & Cartmill, Oklahoma City Diversity Task Force – Rene Hernandez, Cole, Paine & Carlin, Oklahoma City Co-Branded Website Oversight Task Force – Susie Current, IIAO Big “I” National Championship Golf Tournament Committee – Jake Bramlett, The Bramlett Agency, Ardmore Chairman/IIABA Member Services Inc. – Gerald Keeton, Cole, Paine & Carlin, Oklahoma City IIABA National Chairman – Vaughn Graham, Rich & Cartmill, Tulsa
FALL 2017
IIAO New Members AGENCY MEMBERS Summit Insurance Services, LLC Norman Contact: Jason Clements
Insurance Solutions of OKKS, LLC Grove Contact: Chris Norris
Synergy Insurance Services Oklahoma City Contact: Stephen Silver
Royal Insurance Tulsa Contact: Nora Sanchez
TVC Insurance Agency, LLC Oklahoma City Contact: Jeane Courtois
Higginbotham Insurance Agency Inc. Oklahoma City Contact: Gray Holden
Integrated Insurance Network Edmond Contact: Rickey Brady
HBI Insurance Broken Arrow Contact: Heidi Brown Jackson Barton Agency, LLC Guthrie Contact: Darbi Tomlinson
J.K. Meadors & Co. Inc. Stillwater Contact: Kyle Meadors
Be a Newsmaker | What’s happening in your organization? Celebrating an anniversary, opening a new branch, or have a staff member who has received an outstanding award? Send us your FALL 2017
MetroOKC Insurance Oklahoma City Contact: Michael Sohn
news, along with a photo and your logo, so we can recognize those achievements in our POLICY magazine. Please contact Cathy Cinotto at cathy@iiaok.com if you have questions. POLICY 35
IN BRIEF
InVEST Awards 76 Academic Student Scholarships InVEST, the insurance industry’s premier classroomto-career education program, has awarded $75,500 in scholarships to 76 students pursuing insurance-related degrees. The program is a key incentive in attracting new talent to the insurance industry. “InVEST congratulates the 764 students representing 23 high schools, colleges and universities in eight states who earned scholarships this year,” says Cindy Hower, InVEST board chair and president of Kellerman Insurance, an independent agency in Holton, Kansas. “InVEST develops future industry professionals by teaching high school and college students about insurance, risk management and financial services. As a result, students from more than 800 InVEST programs across the country are better equipped to pursue careers in an agency, company or other insurance industry organization.” InVEST contributes to the education and development of future insurance professionals through academic programs and scholarships. In high schools, the program offers students a business curriculum that teaches them about the dynamics of insurance agencies and companies. At the college level, the program develops students’ risk management and financial analysis skills. Along with corporate and direct contributions, scholarships are funded through proceeds
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generated by the InVEST Silent and Live auctions held in conjunction with the Independent Insurance Agents & Broker’s (IIABA or the Big “I”) Legislative Conference. “A successful InVEST program is vital to the financial literacy of our young people, to the future of the independent agency system and to the insurance industry as a whole,” says Robert Rusbuldt, Big “I” president and CEO. “We are concerned that the average age of an insurance agent is almost 60, and as baby boomers continue retiring in record numbers, the InVEST program has the potential to replenish our workforce and to produce the next generation of industry professionals and leaders.” This year’s scholarship winners hail from California, Connecticut, Florida, Georgia, Louisiana, Michigan, New Hampshire and New York. As a 501(c)(3) educational trust, InVEST benefits from the support of numerous insurance organizations, hundreds of agencies, brokers and volunteers. The program provides the insurance industry with motivated, talented and intelligent professionals through a support structure of state associations, board members, national staff, teachers and the many industry professionals who work in the field as classroom liaisons. For more information, go to www.investprogram.org.
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DESIGNED TO DO ONE THING Pushing is a force of effort toward progress. For over 30 years, AMERISAFE has built a no-nonsense culture of safety. Never shying away from hazard, we simply outsmart it. Workers’ comp is all we do. Strong and steady, clearing the pathway as we go.
amerisafe.com - 800.897.9719
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Independent Insurance Agents of Oklahoma PO Box 13490 Oklahoma City, OK 73113 RETURN SERVICE REQUESTED
PRSRT STD U.S. POSTAGE PAID Oklahoma City, OK Permit No. 1659
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THE INDEPENDENT INSURANCE AGENTS OF OKLAHOMA MATTER TO US. That’s why Imperial PFS®, the leading source of funding for the IIAO membership, has been located in Oklahoma for over 38 years. In 1982, Imperial PFS® opened our first non-corporate branch in Tulsa, OK. The Oklahoma team located in Oklahoma City has a combined 52 years in the insurance and finance industry. We invite you to call us today to join the IPFS Family and enjoy the benefits of working with your Okie neighbors.
Fred Barker: 405.202.8102 | email: fred.barker@ipfs.com Oklahoma City office: 800.866.1141
Visit us online at www.ipfs.com or download our mobile app. 40 POLICY
Connect with us anywhere, anytime using your Android or iOS device! Using a QR code reader app, scan the QR code above, or go to www.ipfs.com.
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