Wisconsin Independent Agent | May 2023 Magazine

THINK UFG for simple insurance solutions

Simple solutions for complex times® is more than just our tagline at UFG Insurance.

We’ve made it our mission to create simple solutions for doing business with us, which begins with providing trusted insurance protection and service that exceeds expectations.

For a carrier committed to making insurance simple, think UFG. After all, insurance can be complicated and we all deserve simple solutions in these complex times. ufginsurance.com/services

Simple solutions for complex times INSURANCE

CONTENTS

COVER STORY:

Catalyit's State of Tech Report is Here!

Catalyit surveyed independent insurance agencies across the country to learn about their current tech stack. Agencies shared what solutions they are using and how they would rate them. This month's magazine features a preview of the report.

7-14

for Burglars

wisconsin INDEPENDENT AGENT

INDEPENDENT INSURANCE AGENTS OF WISCONSIN

725 John Nolen Drive

Madison, Wisconsin 53713

Phone: (608) 256-4429

Fax: (608) 256-0170

www.iiaw.com

2022-2023 EXECUTIVE COMMITTEE

President:

Nick Arnoldy | Marshfield Insurance Agency, Inc., Marshfield

President-Elect:

Michael Ansay | Ansay & Associates, Port Washington

Secretary-Treasurer:

Joanne Lukas Szymaszek | Johnson Insurance Services, LLC, Racine

Chairman of the Board:

Marc Petersen | American Advantage - Petersen Group, New Berlin

State National Director:

Steve Leitch | Leitch Insurance, River Falls

2022-2023 BOARD OF DIRECTORS

Janel Bazan | Avid Risk Solutions/Assured Partners, Middleton

Mike Harrison | R&R Insurance Services, Inc., Waukesha

Aaron Marsh | Marsh Insurance Services, Inc., Rice Lake

Kash Motlani | Ansay & Associates, Inc., Port Washington

Dan Lau | Robertson Ryan & Associates, Milwaukee

Andrea Nelson | Unisource Insurance Associates, LLC, Wauwatosa

Brad Reitzner | M3 Insurance Solutions, Madison

IIAW Staff

Matt Banaszynski | Chief Executive Officer 608.256.4429 • matt@iiaw.com

What is Your Agency's Number? The Policies Per Customer Factor

ADVERTISERS INDEX

Mallory Cornell | Vice President 608.210.2975 • mallory@iiaw.com

Kim Kramp | Accounting Supervisor 608.210.2976 • kim@iiaw.com

Trisha Ours | Director of Insurance Services 608.210.2973

trisha@iiaw.com

Evan Leitch | Agency Solutions Advisor 608.210.2971

evan@iiaw.com

Kaylyn Staudt | Marketing and Communications Coordinator 608.210.2977

kaylyn@iiaw.com

Jeff Thiel | Director of Agency Success 608.256.4429

jeff@iiaw.com

Andrea Michelz | Education & Membership Engagement Coordinator 608.210.2972

andrea@iiaw.com

Diana Banaszynski | Education & Events Coordinator and HR Business Partner 608.256.4429 • diana@iiaw.com

Ali Smeester | Accounting Specialist 608.256.4429 • ali@iiaw.com

Wisconsin Independent Agent is the official magazine of the Independent Insurance Agents of Wisconsin (IIAW) and is published monthly by IIAW 725 John Nolen Drive, Madison WI 53713. Phone: 608.256.4429. IIAW does not necessarily endorse any of the companies advertising in publication or the views of the writers. IIAW reserves the right, in its sole discretion, to reject advertising that does not meet IIAW qualifications or which may detract from its business, professional or ethical standards. © 2023 For information on advertising, contact Kaylyn Staudt, 608.210.2977 or kaylyn@iiaw.com.

GET MORE BUYING POWER

by Curt Van Auken, SFB

Growing Your Agency?

Here are some tips to get you the buying power you need.

Buying an insurance agency demands a lot of preparation and planning. However, when you have a proper plan of action before you begin, it not only makes the process more efficient, but it can enhance your buying power. Here’s what you should do before purchasing an agency.

Keep cash flow in your business. When looking for financing to buy an insurance agency, cash is one key element that lenders look to help determine the value of an agency. If you want to use the value of equity in your current book of business to purchase a new book of business, it is important to leave as much cash in the business as possible.

Avoid abnormal expenses.

The value of the book of business is determined by the profitability, not necessarily the revenues associated with it. Taking money out of the business through excessive owner salaries will hurt the overall value of the book of business. Abnormal expenses, which would reduce the EBITDA, would also reduce the value of a book of business. Separating personal expenses from business expenses are a big part of maximizing the value of your book of business.

Have a good synergy with your insurance carriers. When buying an agency, you should familiarize yourself with the insurance carriers of the prospective agency to know if they mix well with your current insurance carriers. This is a large factor in the agency you are looking to buy, as contingency income could be greatly increased with the carrier mix being of a newly created or expanded insurance agency.

Consider whether to keep the same niche or start something new. Niche markets focusing on a specific industry, product, or profession could set an agency apart. If you are thinking of starting a new niche with the agency you are purchasing, make sure you have the resources and knowledge in place to develop that niche before you begin.

Employ quality staff to help handle the transition.

Quality employees, that are fully engaged, are always being sought out, especially with the current workforce. In general, having high quality employees reduces stress when operating an agency. This can be even more evident in the transition of ownership. Be sure you have good support staff to simplify the transition and be prepared to keep them engaged in your business.

Keep detailed records.

Detailed records make the process of buying or selling an agency much easier and quicker. The better the bookkeeping, the less questions that will come up during financing. If questions do come up, high quality recordkeeping makes it easier to sort out any issues.

Partner with financial experts.

It is beneficial to work with a bank that understands the insurance industry. For additional advice and guidance in buying an insurance agency, Security Financial Bank’s Insurance Lending Team is happy to help. Call 888-254-0615 to get started.

Financing for Independent Insurance Agencies

Bankers Who Believe in You

At SFB, we have knowledgeable lenders who understand the nuances of the insurance industry and have experience in financing all of your business and personal needsincluding acquisition financing, partner buyouts, refinancing, producer loans, technology loans, and lines of credit.

Kimberly, Deirdre, Curt and John. Your Insurance Lending Team.

Lots of companies make promises about how much your client can save if they switch their business insurance.

Well, here’s our promise – they can save everything.

Every memory. Every detail. Everything they’ve worked hard to build.

Protect what’s important for your client with a policy from an insurance company you can trust.

The worst brings out our best.®

STATE OF AGENCY TECHNOLOGY REPORT

Catalyit is passionate about two things: independent insurance agents and technology. That’s why they have combined the best minds with the best tools to deliver the single greatest tech resource in the industry. They understand that no one can do it all alone, which is why they source technology platforms and solutions, deliver first-hand reviews and ratings and build a training module that helps agents succeed while running a successful agency, managing a team and serving customers. By doing what they do best, Catalyit empowers agents to do what they do best, but even better. So, no matter where agents are on the technology spectrum – from early adopter to experienced implementer – they can rest assured they are in the right place. Best of all, every member of your agency gets free access to Catalyit’s resources as part of your membership in the IIAW.

Alongside providing a variety of tools and resources to agents, Catalyit also conducts research, such as its Tech Stack Report for independent agencies. This report helps agencies see what others are using the industry and can help spark new ideas for technology adoption. From agency management systems to chatbots, the State of Tech Report covers it all. The 2023 release of Catalyit’s State of Tech in Independent Insurance Agencies includes results from nearly 500 agencies and is now available to download. This report shares findings from the survey and insights on how each area impacts agency value. This month’s magazine issue includes a few snapshots from the report.

Overall, the report highlights the use of:

• agency management systems

• accounting platforms

• compliance platforms

• employee benefits quoting and management platforms

• carrier rating/submission platforms

• chatbots

• CRM platforms

• cybersecurity compliance vendors/platforms

• data analytics platforms

• digital payment platforms

• e-signature platforms

• IT/Managed Service Providers

• lead generation

• marketing automation

• mobile apps

• outsourcing

• password management

• phone systems

• personal lines and commercial lines quoting

• reputation management

• sales management

• social media management

• text messaging

• video conferencing

• website development

• agency satisfaction with carrier technology support

What does the data tell us?

• “Getting the most out of the tool” continues to be a significant challenge for agencies. This highlights the problem of technological redundancy and staff change management.

We recommend that agencies evaluate their technology stack for overlapping functions and gaps to maximize technology utilization.

• Applied Systems has moved TAM, Vision, and DORIS to provide only maintenance updates. Agencies still using those platforms should start evaluating the options for their next AMS from Applied Systems or other vendors.

• More agencies are using Marketing Automation platforms (with a 15% increase year-over-year) for email and text marketing, prospecting, client retention, pre-renewal processes, cross-selling, and up-selling.

• Reputation Management tools saw a slight increase from last year’s report. Leveraging and implementing a reputation management strategy can help agencies generate online customer reviews, which help can drive more people to their websites for more information.

• Cybersecurity is a weak point for agents and needs to be a priority to remain trusted data stewards.

• Data Analytics tools are underutilized as well, and with more strategic insights, agencies can make

more informed business decisions that improve overall efficiency and performance.

• Development and use of Commercial Lines

Quoting/Rating platforms are growing, with 25% of respondents utilizing at least one of these solutions. As the number of carriers and lines of business increases, adoption will continue to grow.

• As new technology tools such as generative AI continue to develop, many of the tech solutions mentioned in this report are expected to experience significant improvements in the coming years. Catalyit will be paying close attention to these developments.

Visit www.catalyit.com to download your copy of the report to see all the results, explore the latest insights and learn what the data means for independent agencies.

Matt’s Mixology

> Matt Banaszynski, CEO, IIAW

Blackberry-Mint Julep

Ingredients

• Small ice cubes

• 1/4 cup blackberries, plus 1 blackberry for garnish

• 2 tablespoons mint leaves, plus 1 mint sprig for garnish

• 1 tablespoon sugar

• 1 1/2 ounces bourbon

Directions

1. Fill a rocks glass halfway with ice cubes. In a shaker, combine the 1/4 cup of blackberries, mint leaves, sugar, bourbon and 1/3 cup of ice cubes and shake well. Strain the drink through a course sieve, pressing on the solids. Garnish with the blackberry and mint sprig.

Recipe & Photo Courtesy of Food and Wine

RESPONDENT PROFILE

The source of the data presented was gathered from the Catalyit Tech Stack Survey in 2023.

How many technology platforms does your agency use?

What stage of using technology presents the biggest challenge?*

Does your agency use an agency management system?

Most Used

INSIGHTS

An AMS is vital for managing daily operations, tracking client interactions, policy administration, and tracking marketing and sales activity An AMS offers a unified platform for workflow management and data analytics The key decision is which AMS platform best fits the agency’s needs Applied Epic is the most popular system Applied, Vertafore, and HawkSoft dominate the market HawkSoft is a cost-effective option for smaller agencies

The utilization of an agency management system has a direct impact on how easily an agency's customer information can be located, reported on, and transferred The absence or poor usage of the system can impact the efficiency and the transferability of an account, which will directly impact the agency's transition costs, confidence in the information, and the expected ongoing performance.

Does your agency use an agency management system?

A DEEPER DIVE: Most Used by Agency Revenue (2023 vs 2022) Total Revenue Top 3 Platforms Used*

Less than $500K $500K to $1MM $1MM to $2MM $2MM to $3MM $3MM to $5MM

EZLynx (Applied): 25%

22%)

11%)

27%)

Vertafore - AMS360: 22%

22%)

Vertafore - AMS360: 34%

27%)

12%

INSIGHTS

Applied Epic and Vertafore - AMS360 are the top agency management systems for larger agencies, while smaller ones favor HawkSoft HawkSoft saw significant growth among agencies with revenue under $500K, and Applied Epic experienced a 22% increase among those with $3-5 million in revenue These systems help optimize insurance agency operations by integrating with carrier platforms, accounting s oftware, and marketing automation tools, enhancing productivity, customer service, and overall efficiency

7

Does your agency use a marketing automation and email platform?

Most Used

INSIGHTS

Marketing automation platforms streamline marketing efforts, offering features such as email marketing, social media management, lead tracking, and analytics These platforms automate repetitive tasks, nurture leads, and measure performance They enable personalized messaging, audience segmentation, and targeted campaigns Applied Marketing Automation, Agency Revolution, and Levitate are the top three platforms in this category Investing time to set up these platforms will ultimately save time and money, streamlining your marketing efforts and boosting efficiency

Marketing helps an agency focus on its growth goals by targeting their most profitable customers, staying connected, communicating their value, developing a niche or line of business, and the ability to measure results and make d ata-driven decisions. As with any investment, if not implemented and utilized consistently and effectively, it can become a cost center and hurt the value of the agency.

offers a helping hand.

At Western National Insurance, nice is what’s guided us for over 100 years. And we’re just getting started.

Western National Insurance. The power of nice.

www.wnins.com

VACATION SEASON IS OPEN SEASON FOR BURGLARS

Americans not only love to travel, many have second homes where they live for extended periods. However, vacation time provides prime opportunties for burglars, who may target retirement havens or homes that appear unoccupied.

Here are a few tips you can share with your insureds to help prevent a break-in.

Let a trusted neighbor know how to get in touch

When I was a risk manager for a public entity, I received a call one Sunday night on a sewer backup. “It's a big one," the public works director warned me, so I drove to the location. A lightning strike earlier that day had hit a sewer lift station. The problem? The newly built home had no sewer backflow preventer installed, and the entire area's lift station had malfunctioned and dumped its massive load into the home. The neighbors knew the owners were out of state at their daughter's wedding, but had no phone number to reach them. We made the decision to hire a locksmith and enter the home to remove everything we could salvage. However, if the homeowner had provided a neighbor with a phone number before their trip, we'd have been on much safer legal grounds.

If your homeowner has an alarm, he or she can usually set specific codes so the homeowner knows who entered the home. A trusted neighbor can be a lifesaver if the a water leak or burglary occurs. That neighbor may also be willing to pick up newspapers or flyers left in the homeowner's

absence. Keeping the home maintained helps prevent the appearance of an unoccupied home.

Recommend putting lights on timers

Because many burglaries occur at night, lighting the home's exterior and putting interior lights on timers can help deter a break-in. Driveways, security lights that come on when someone approaches the property, and interior lighting set to come on at dusk are all great ways to prevent crime.

Remind clients to stay on the “down low" on social media

Never alert the media, and by this, I mean social media. It's always tempting to post those lovely vacation photos or to check in at the airport citing a great destination. However, if no one is watching the home, that can be an open invitation for a break-in. Remind your clients that while it's great to post pictures, it may be safer to post upon their return home. If they do decide to post, they might refer glowingly to their (imaginary?) housesitter so it's clear someone is caretaking their home.

Protect the family jewels

Recommend your clients remove expensive jewelry or other valuables in their homes. A few days before they leave, suggest they go through their home to collect valuables like jewelry, guns, even credit cards they may leave behind, and secure them in their bank's safety deposit box. It's also a great time to remind your insureds about the benefits of scheduling valuable items like jewelry

and cameras. Remind them to check any special limits on their homeowners policies for firearms, jewelry, cash and other personal property. Avoid listing special limits because homeowners and dwelling policies can provide various personal property limits.

This article is an opportunity to invite your insureds to call you to discuss questions they have on their homeowners or dwelling poliicies. You can review their limits, using these conversations as an opportunity to cross-sell or improve coverage.

Protect computers with a strong password

Many of us now travel with our laptops, which contain a great deal of personal identifying information. Your clients' home computers are also a hot commodity for today's burglars. Your clients should use a hard-to-break password to protect all their computers, whether laptop or desktop, travel or home-based.

Vacations should be a stress-free time

Vacations and long summer visits should be stress free. No one wants a call from the police department, or to return home to a house that's been vandalized. Summer is a great time to remind your clients that installing a home alarm system can provide a credit on their homeowner's policy. Burglar alarms are no longer “nice-to-have" accessories, they're becoming a necessity for peace of mind for many of today's homeowners.

While there's no guarantee that homeowners can avoid a burglary, these tips can help your clients feel more secure when they travel or temporarily relocate to cooler climates.

This article was originally published on iamagazine.com in May 2022.

> Nancy Germond, Executive Director, Risk Management and Education, Big

'I'

I came across a new piece of research by Korn Ferry recently that confirmed my suspicions about our professional lives: We are beginning to return to our pre-pandemic habits and routines en masse.

But, as the Korn Ferry article notes, there’s a major problem. After three years of mostly virtual work and online-only interactions, we are collectively out of practice when it comes to face-to-face contact. Whether it’s networking or business travel or building corporate culture, we’re rusty.

As one staffing executive told Korn Ferry: “It’s as if we were in jail, and now we’re all free again.”

Apparently this is causing an intense return to networking, as people are desperate for in-person meetings and connections. But—and this should come as no surprise—simply sending out a flurry of LinkedIn invitations or handing out your business card to every person who passes your table at a conference isn’t doing you any favors.

Rather, you need to work to truly connect with the people you’re trying to build a relationship with. Experts told Korn Ferry that many of the conversations they’re having around jobs are now more open, frank, and vulnerable post-pandemic.

I can tell you from personal experience that this results in deeper, more meaningful relationships and better cultural fits between employee and employer. I’m sure you’ve had a similar experience.

Rebuilding our work environments also takes time and concerted effort. Rome wasn’t built in a day, and neither was your company culture.

Korn Ferry and Work Forum noted that to improve office satisfaction, we should be removing any barriers or implied classifications among our workers. It shouldn’t matter whether you’re in the office or working remotely: You’re treated the same and have access to the same opportunities.

Your company messaging should capture your company values and be consistent from your initial recruiting efforts through to employment and beyond, although the mediums through which you reach your people should adapt to meet them where they are. For example, you can communicate transparency for those in the office by adopting an open floor plan and open-door policy, while regular Zoom check-ins and online availability can do the same for remote workers.

Of course, none of it is possible without modeling of the desired behaviors and attitudes by company leadership. In other words, our leaders must “walk the walk” to authenticate our corporate cultures.

Ultimately, the Korn Ferry report highlight to me how ready we are to embrace the new hybrid workplace. How are you doing that in your company? What lessons have you learned?

CAN ADMINISTERING NARCAN CREATE A GENERAL LIABILITY EXPOSURE?

The last few years have seen a large increase in deaths from overdoses. The administration of Narcan, also called Naloxone, can reverse an overdose and save lives. According to one study, emergency medical responders reported the administration of Narcan saved up to 93.5 percent of overdose victims.

Will My Client's General Liability Policy Cover Distribution of Narcan?

Alleging negligence of any type that involves allegations of bodily injury or property damage should trigger your GL given no on-point exclusions. There is no exclusion in the CGL that applies to this type of activity. However, if an employer administers Narcan to an employee, the employer should submit any subsequent medical treatment costs to the workers' compensation insurer. That should cover medical bills and lost wages, although state workers compensation statutes guide that decision. Liability arising from that employee's exposure if one were to allege negligence could trigger the employers' liability coverage on the work comp policy.

General Information on Narcan

Here is an overview of the basics and safety factors around administering (intranasal) Narcan. Intranasal is what locations usually stock that are not medical facilities, although first responders may carry injectables. “When law enforcement or first responders feel the use of intranasal naloxone poses too great a risk, there is another lower risk option. Intramuscular naloxone is usually injected into the thigh muscle - far away from the nose and mouth - thereby reducing the risk to the rescuer," per the Substance Abuse and Mental Health Services Administration.

The bottom line regarding a claim involving Narcan administration is this: If your insured has the Narcan on site, they'd be just as likely to get sued for failure to administer as administering.

However, here are more issues to consider.

• There are risks, so training is imperative. Your insured could contact the local state department of health; they usually provide training or know who will.

• It's now sometimes taking first responders more than one dose to save someone who is overdosing on Fentanyl based on its potency. One dose may not be enough.

• Always have gloves and safety glasses right by the Narcan to help to avoid an exposure for the person administering and this still isn't a guarantee. Those who administer should wash up immediately post administering.

• Respiratory personal protective equipment is highly recommended when administering since Fentanyl can aerosolize. Aerosolized exposure is exceedingly rare but is more potent and faster than skin contact.

• Don't “require" employees to administer Narcan. Organizations should provide training only to those willing to administer, in my opinion. Forcing someone to administer could open the door to several liability issues, including employment liability issues.

The best approach is to immediately call 911 while administering Narcan if available, to obtain help from trained first responders. Once on site, they can manage the situation. However, even the Society for Human Resources (SHRM) has, since 2018, recommended that employers stock and administer Narcan.

For those who administer Narcan, the Good Samaritan law should apply in many states and many states are still addressing this topic with legislation. This article contains an overview of stage legislation regarding Narcan.

This outlines some tips first responders use; however, it's important to call 911 immediately to activate first responders. They deal with this daily, even in rural communities.

The mainly rural county of Yavapai, Arizona, saw sixtyeight drug overdoses deaths in 2022, with 28% of those females. However, they are seeing more deaths in the 60-year old plus population, with a 600% increase in 2022 of 14 60-plus year old deaths.

Watch Those Professional Liability Policies

Jack Schwartz, a risk management consultant in New York, offers a few words of warning on professional liability coverage from. “Those in the nonprofit and social service industries who may administer naloxone to reverse an opioid overdose should verify that such actions are not excluded by their professional liability coverage."

According to Schwartz, policies for human and social service organizations often contain professional liability coverage as part of their general liability policy or broader package policy. The terms of such coverage vary between carriers and their different forms. Depending on the form, some carriers may exclude coverage for the administering of Narcan.

Some carriers will include a specific endorsement affirmatively granting coverage and removing any doubt, but for those carriers that don't, pay attention to the wording to ensure no exclusions apply, according to Schwartz.

I spoke with Brad Storey, Vice President of Risk Management, and Dawn Martin, Vice President of Underwriting, of the Irwin Siegel Agency in New York, a managing general agency specializing in social services insurance and risk management.

According to Martin, their programs have no exclusions for administering Narcan whether by a licensed or unlicensed employee.

As far as claims history involving administering Narcan, “When Narcan recently became available over the counter, we reviewed our claims as far back as Narcan use approval in 2015, and we've had no claims," Storey said.

“Our insureds are on the front lines of serving some of the most vulnerable populations. At a time when the opioid epidemic continues to rise, Narcan is a necessary tool and saves lives" Storey said.

“Our insureds are on the front lines of serving some of the most vulnerable populations. At a time when the opioid epidemic continues to rise, Narcan is a necessary tool and saves lives" Storey said.

Advice on Managing the Opioid Overdose Event

Many people working front-line in substance abuse such as needle exchange and treatment centers specialize in preventing overdose and administering Narcan and will almost always be very open to providing information and advice.

A SHRM article on the subject states, “Increasingly, state laws shield employers from being liable for administering it." They also recommended that employers consider the industry they are in, like construction, where given the injury frequency, employees may be more prone to substance use. While this article says it should be kept locked, I do not see this practice at any place where I've seen it. Immediate access is imperative and it's simple to administer.

Remember, too, that once treated, the person treated may have a seizure and sometimes become agitated, so there is always that consideration. Training usually warns about that risk and recommends that two work to administer. I would recommend one administering and one standing back watching to assist while staying on the phone with 911, because any fentanyl exposure can then be more limited to the person administering.

Deaths from Opioids Impact All Communities

This is a timely and urgent topic. In 2021,106,999 people died in the U.S. from drug overdose deaths. There was a slight decline in 2022, probably linked to more effective use of Narcan. The US Surgeon General Jerome Adams recommended in a talk in 2018 that Narcan access should be as prevalent as EpiPens or defibrillators.

While I found few lawsuits involving the use of Narcan, all one needs to do to present a claim is to assert some type of negligence. In one instance, a person allegedly rendered a quadriplegic after mistakenly being administered Narcan after suffering respiratory distress sued the local township, fire department and several first responders.

As with any emerging risk, more issues may arise. However, when faced with saving a life, we must act quickly and decisively, and any of these life-saving decisions, whether they involve a defibrillator or Narcan, carry inherent risk.

> Nancy Germond, Executive Director, Risk Management and Education, Big 'I'

SFM:

WORK COMP EXPERTS

FOR WISCONSIN EMPLOYERS

Offering specialized safety and claims resources for employers of all types and sizes

With over $49,000,000 of written premium in Wisconsin, SFM’s position as a leading monoline workers’ compensation carrier continues to grow.

SFM Mutual Insurance Company headquarters in Bloomington, MN

Your work comp experts

SFM’s full-service Wisconsin operation consists of underwriting, claims management, loss prevention, medical case management and premium audit.

“We insure employers in a broad range of industries, from the smallest of small startups to large, complex businesses and everything in between,” said Vice President of Regional Business Nick Marino. “We’re proud to have developed a reputation as a leader in workers’ compensation insurance in Wisconsin.”

Marino credits the company’s 2022 94% premium retention and 97% policyholder retention rates to SFM’s flexible underwriting, proactive claims management and collaborative loss prevention service.

“Workers’ compensation is all we do, so we have to offer a superior policyholder and agent experience,” Marino said.

Specialists in health care, trucking and manufacturing

SFM writes businesses across a wide range of industries, and we offer specialized services for health care, trucking and manufacturing.

• Health and senior care: We serve health care employers of all types and sizes including nursing homes, assisted living facilities, group homes, home health agencies and hospitals. Statistics show health care workers are at high risk for injuries due to moving and lifting patients, so we have two Wisconsin-based loss prevention representatives certified in safe patient handling to help employers prevent these types of injuries.

• Trucking: We also serve trucking industry employers of all sizes including local, intermediate and long haul. Trucking can be a hazardous industry, so our safety team has compiled an array of best practices and safety resources specific to our trucking industry customers.

• Manufacturing: For manufacturing customers, we offer expertise in ergonomics to prevent injuries. We have a loss prevention representative certified in ergonomics, and we use artificial intelligence technology to help our customers pinpoint injury risks and correct them.

Wisconsin Assigned Risk Plan

In addition to being one of the contracted servicing carriers for the Wisconsin Assigned Risk Plan, SFM is in the fourth year of an initiative to be a competitive voluntary market alternative for agents that have pool business. Since 2020 we’ve helped our agents move $4.2MM out of “The Pool.”

• It’s a win for employers who are often eligible for both premium discount or a dividend – something the ARP can’t offer.

• It’s a win for our agents who can earn much higher commission as well as keep their renewals from the vulnerability of being in the ARP where competing agents often prospect for new business leads.

Regional carrier with national reach

Despite Wisconsin’s ongoing softening work comp rate environment, SFM continues to experience growth.

“Our team is 100% based in Wisconsin – and it makes a difference,” said Marino, who has been leading the Wisconsin team for nearly 17 years. We also recognize that many employers need coverage in multiple states, so we are now licensed in 34 states.

Our primary focus continues to be the upper Midwest, but we recognize that many of our customers have collateral operations and remote employees across the country.

Work with SFM

You can learn more about SFM and how to partner with us at sfmic.com/agents.

SFM is excited to be a growing presence in Wisconsin, and we look forward to seeing continued growth together with our agency partners.

“Our

— and it makes a difference.”

WISCONSIN

SFM Vice President of Regional Business

Nick Marino

team is 100% based in

INSURANCE BRANDING 101: HOW TO CREATE A SOLID BRAND

Standing out in a sea of other independent insurance agencies isn't easy, especially if they've been around longer or have more customers. However, it is possible to make your agency known, trusted, and preferred by your target audience. You just need to put effort into insurance branding to develop a solid agency brand.

Why Insurance Branding Is Important

When you understand what insurance branding entails, you can see why it's so important. Branding is the process of building your brand—the actions you take, the methods you use, and the things you do to influence customers' thoughts about your agency. Ultimately, branding is what you do and say. It's every decision you make that current and potential customers see.

Handled correctly, branding can position your agency for success by doing the following:

• Forging an emotional connection with customers

• Making your brand more memorable

• Supporting your marketing and advertising

Remember that brands don't just exist; they must be built and maintained. By taking the right approach to branding, you can shape how your target audience perceives your agency and inspire confidence that you can help them. Moreover, you can increase awareness, trust, and even revenue.

5 Steps to Creating a Solid Brand

Branding is complex. It involves much more than just creating a logo, deciding on a color palette, and designing a website. If you want to develop a great brand, there are several factors to consider and a lot of work to do.

Here are 5 basic steps to follow…

1. Identify Your Target Audience

A solid brand resonates with the target audience. Therefore, you need to have a firm grasp of whom your brand is trying to reach. Conduct research into who your ideal policyholder is, what problem they're experiencing, what goals they want to achieve, where they spend their time online, and what language they use. By applying these insights to your branding efforts, you can show that your agency truly knows, understands, and empathizes with them.

2. Determine Your Purpose and Positioning

A strong brand needs to have purpose and positioning. Defining why you're in the insurance business and what makes your agency unique is essential. That way, you'll have an easier time standing out from other agencies. More importantly, you'll be able to demonstrate the value you have to offer your target audience.

3. Design Your Brand Identity

Your brand identity includes the tangible assets that portray your branding. According to the U.S. Chamber of Commerce, 55% of brand first impressions are visual. Therefore, you need to make sure that what your target audience sees will grab their attention in a positive way. Apply research into your target audience and industry to create a logo, color scheme, tagline, image style, and website design that represents your brand.

4. Create Your Voice and Messaging

How you communicate with your target audience is another vital aspect of your branding efforts. You need to develop a brand voice that people connect with and come to recognize when they read emails, watch videos, and so on. So, create a voice that matches your brand's distinct personality and even incorporates language your target audience uses. Further, ensure your messaging is always clear and aligned with your brand voice.

5. Be Consistent

Consistency is a key element of branding. It takes 5 to 7 impressions for people to remember your brand. That's why it should look and sound the same everywhere. By maintaining brand consistency across platforms, you can boost recognition and trust.

Takeaway

Insurance branding is challenging, but it's worth the effort. By taking the necessary steps, you can create a strong brand that garners attention from your target audience. More importantly, you can become a trusted name in the insurance space and enjoy greater business.

To receive help building your brand, visit viralsolutions.net and request a free consultation.

Members in the News

ACUITY NAMED #1 IN CLAIMS SERVICE

Sheboygan, WI (3/6/23) - Acuity is the top-ranked Wisconsin-domiciled carrier in the 2023 CRASH Network Insurer Report Card, which puts Acuity among the top 5 insurers nationwide in the report’s Honor Roll. Acuity is also ranked #1 in the 6-state Great Lakes Region, consisting of Minnesota, Wisconsin, Michigan, Illinois, Indiana, and Ohio.

CRASH Network surveyed over 1,000 collision repair shops across the country for its 2023 Insurer Report Card. Shops were asked to grade the claims service of insurance companies based on one question: How well does this company’s claims handling policies, attitude, and payment practices ensure quality repairs and customer service for motorists?

Speaking about Acuity’s claims service, a repair shop owner said in the report, “Their claims handling is very fast and efficient. They do not waste time and are the best insurer we have ever dealt with.”

According to the CRASH Network, shops say the best insurance companies don’t pressure them to cut corners or install lower-quality parts to save money and aren’t adding more administrative steps to slow down the repair and claims process. The report card also revealed that many insurers earning the highest grades from repair shops are regional insurance companies that “do not spend billions of dollars per year on advertising.” In fact, none of the 10 largest auto insurers in the country were ranked in the top 40 insurers.

“We are honored to again be recognized for the quality claims service we deliver. Acuity’s Common Purpose is centered on the fact that we ‘dare to care,’ and our customers know we care about them and will be there for them after accidents happen,” said Melissa Winter, Acuity President.

“Acuity is committed to providing world-class service in claims and being rated a top company in the CRASH Network survey shows we are doing just that,” said Ben Salzmann, Acuity CEO.

“Being recognized by CRASH Network is particularly rewarding because the rating comes from collision repair professionals at body shops who know first-hand how well we handle claims compared to other insurers,” said Jamie Loiacono, Acuity’s Vice President – Claims.

Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures over 130,000 businesses, including 300,000 commercial vehicles, and nearly a half million homes and private passenger autos across 31 states. Rated A+ by AM Best and S&P, Acuity employs nearly 1,600 people.

CLAIMS ADVOCACY PARTNERS AIM TO ENHANCE CLAIMS PROCESS FOR AGENTS

Cedar Rapids, IA (4/3/23) - Pilot program launched April 2023

UFG Insurance prides itself on creating simple solutions for its agents to do business. And a new pilot program, claims advocacy partners, strives to do just that.

“We took action when our agents let us know that having a main contact for specialized claims questions would be helpful,” explains AVP, Workers Compensation Claims Manager Christine Zetocka. “Our new claims advocacy partners aim to offer agents one point of contact to enhance their claims experience.”

A claims advocacy partner joins an agency’s existing UFG team — working side-by-side with the adjuster, marketing representative, underwriter and risk control consultant — as a go-to person for assistance throughout the claims process.

The advocacy partners concept is starting as a small pilot with five to seven agencies in each of UFG’s five branches so the team can better ensure service that exceeds expectations.

“We’re really excited to get out there and talk with the pilot agencies,” says Brann Carson, one of three seasoned claims professionals who stepped into the claims advocacy partner role. “If a claim has been filed, that usually means something stressful or sad has happened. As claims advocacy partners, we hope to help agents remember we’re there for the person behind that claim. We want them to think UFG when they think of a carrier who handles claims with compassion.”

Fellow claims advocacy partners Jenni Zollman and Joe Sullivan agree.

“An advocate is there to lean on,” adds Jenni. “We all stand ready to offer pilot agents the answers, service and support they need to easily navigate the claims experience.”

“We hope all our agent partners are excited to hear about this new pilot program and the potential it can carry for ease of doing business,” adds Joe.

The claims advocacy partner program hopes to expand as the pilot gains momentum.

WESTERN NATIONAL INSURANCE GROUP ANNOUNCES YEAR-END 2022 RESULTS

Minneapolis, MN (4/6/23) - Western National Insurance Group today announced full-year financial results through December 31, 2022. Significant comparative financial measures include:

Total Assets grew from $1.77 billion to $1.90 billion, an increase of $130.7 million (7.4%) compared to 12/31/21. Direct Premium Written totaled $815.3 million, with growth from continuing operations of 10.5% over 2021. Net Income After Tax totaled $77.1 million, compared to $97.9 million in 2021.

Surplus increased from $728.6 million to $781.0 million, an increase of $52.5 million (7.2%) compared to 12/31/21. These figures reflect the combined performance of all group companies, including Western National Mutual Insurance Company and its subsidiaries: American Freedom Insurance Company, Nevada General Insurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, and Western National Assurance Company. These numbers do not include results from affiliates. With affiliate results, the Group’s year-end results include Total Assets of $2.20 billion, Surplus of $884.3 million, and Direct Written Premium of $959.8 million.

“These outstanding year-end numbers for 2022, achieved amidst a record year for storm-related losses, are the result of a year of incredible effort and customer service by our employees and Independent Agency partners,” said Richard Long, President and CEO of Western National Insurance Group. “The storm activity was a challenge not only for our Group, but for our whole industry, and I’m proud of how our Group’s people and solid business plan enabled us to both serve our customers and further grow our policyholder’s surplus. This surplus growth adds to a strong foundation of financial stability and security for our customers' continued protection in 2023 and beyond.”

Western National Insurance, headquartered in Edina, Minn., is a super-regional group of property-and-casualty insurance companies. The Group writes business through five active insurance companies—Western National Mutual Insurance Company, Western National Assurance Company, Pioneer Specialty Insurance Company, Umialik Insurance Company, and American Freedom Insurance Company — and is affiliated with Michigan Millers Mutual Insurance Company. Together, the affiliated Group writes over $900 million in personal and commercial direct premium in 19 states across the Midwestern, Northern, and Western U.S. as well as in Alaska; and surety bonds in 38 states. All of the companies’ products are sold exclusively through professional Independent Insurance Agents.

AM BEST REAFFIRMS SFM'S FINANCIAL STRENGTH RATING OF A- (EXCELLENT)

have been reaffirmed by AM Best Rating Services, Inc.

This announcement comes as a result of AM Best’s thorough analysis of SFM’s balance sheet strength, in addition to its operating performance, business profile, innovation and enterprise risk management. Prior to publicly disclosing this affirmation, AM Best conducted a detailed review of SFM’s finances and operations.

“In our annual review with AM Best, we were pleased to demonstrate how our commitment to service delivers excellent results,” said SFM President and CEO Terry Miller. “We consider their assessment to be an important indicator of SFM’s long-term financial strength and stability.”

ABOUT AM BEST | AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit ambest.com .

SHELBY BLUNDELL WINS SOCIETY INSURANCE CUSTOMER EXPERIENCE AWARD

Fond du Lac, WI (4/20/23) - Shelby Blundell recently received the Society Insurance Customer Experience Award in a brief ceremony. This award is presented quarterly to an employee nominated by his or her colleagues for exceptional efforts in serving Society Insurance policyholders.

In recognition, Society donated $250 to Asians & Friends Chicago in Blundell’s name.

As a risk improvement representative serving the Chicago metro area, Blundell takes a proactive approach in advising policyholders how best to protect their businesses from potential loss. His experience and engaging communication style encourage businessowners to better understand the various financial risks they face – and how to implement effective risk control measures.

During his 12-year career with Society, Blundell has also built a strong network of insurance agents who seek his advice on topics involving safety and risk management. “I have worked with Shelby while doing numerous loss control inspections and learned a considerable amount, for which I am eternally grateful,” said a producer from Valley Insurance Group. “He has without a doubt made me a better agent and able to identify and select better risks.”

Caring and knowledgeable insurance professionals are vitally important in protecting insureds before fire, weather or other perils strike. Society Insurance is proud to have Blundell and his fellow risk control experts on staff to serve policyholders, whether in good times or bad.

Bloomington, MN (4/19/23) - SFM Mutual Insurance Co. announced that its Financial Strength Rating of “A(Excellent)” and Long-Term Issuer Credit Rating of “a-”

ABOUT

SOCIETY INSURANCE:

Headquartered in Fond du Lac, Wisconsin, Society Insurance has been a leading niche insurance carrier since 1915. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota, Tennessee, Colorado, Georgia and Texas.

DELIVERING MORE BY FOCUSING ON LESS. SMALL DETAIL. BIG DIFFERENCE.

Rather than attempt to be all things to every kind of business, we focus on the ones we know best— restaurants and bars, grocery and convenience stores, medical clinics, artisan contractors and auto service shops—to deliver outstanding property, casualty and workers compensation insurance. Deep niche expertise, with insight into unique business risks, is how we cover the details that make the biggest difference to our policyholders.

2023 ONLINE EDUCATION & CE CLASSES

GOVERNOR'S BUDGET CALLS FOR NEW PAID FAMILY LEAVE PROGRAM

Inside Wisconsin Governor Evers' $103.8 billion two-year state budget proposal is a provision calling for the creation of a new state Paid Family and Medical Leave Benefits Insurance program which would provide up to 12 weeks of paid leave to eligible employees in Wisconsin (See item #1 Paid Family and Medical Leave at https://bit.ly/40YQ3p8). The leave would be available for a number of reasons, including the birth or adoption of a child, the serious illness of a family member, or the employee's own serious illness. The program would be initially funded by $240 million in state funding before eventually being fully funded by employers through a payroll tax paid by both employees and employers. The program would add nearly 200 new state employees in order to administer it.

The proposal is supported by legislative Democrats and a number of public labor unions and advocacy groups who argue that it would help Wisconsin families and businesses retain and attract workers. Opponents of the proposal, including numerous business groups, argue that it would be too costly for businesses, especially smaller sized employers, and would lead to job losses.

The governor’s plan is currently being considered by members of the state

Legislature and the 16 member Joint Finance Committee as part of its biennial state budget review process. It is unclear whether the proposal will be passed into law, but Republicans who currently control both houses of the Legislature by large majorities are apprehensive to support it. Here are some of the key details of the proposal:

• Eligibility - To be eligible, employees would need to work for a covered employer for at least 680 hours in the previous year.

• Benefits - Leave would be available for a variety of reasons, including the birth or adoption of a child, the serious illness of a family member, or the employee's own serious illness. Employees would receive 60% of their average weekly wage, up to a maximum of $900 per week.

• Duration - Employees could take up to 12 weeks of paid leave per year, but they could not take more than 6 weeks in a row.

• Funding - The program would initially be funded with $240 in general state revenues and then would be funded through a payroll tax paid by both employees and employers. Employees would pay 0.6% of their wages and employers would pay 0.6% of their payroll. The proposal would be self-sustaining by 2026, according to the Evers administration.

• Administration - The program would be administered by the Wisconsin Department of Workforce Development (DWD). Family and medical leave benefit eligibility would first apply to a period of family leave, or a period of medical leave, commencing on January 1, 2025.

Under the governor’s proposal, there are some employers who would be exempt from the plan.

These include:

• Employers with fewer than 50 employees

• Religious organizations

• Non-profit organizations that are primarily engaged in religious or charitable activities

• Employers that are subject to a collective bargaining agreement that provides paid family medical leave benefits that are at least as generous as the benefits provided under the plan

The plan would also allow employers to apply for a hardship exemption if they can show that complying with the plan would cause them financial hardship.

The Governor’s proposal has been met with mixed reactions, particularly among legislative Republicans who are reluctant to increase the scope of state government and increase costs on employers. Ultimately, the decision of whether or not to implement such a new, expansive program lies with the legislature’s 16-member Joint Finance Committee (JFC) and will be made over the course of the next several months as they debate and rewrite the state budget. JFC begins voting on parts of the budget during the first week of May.

> Misha Lee IIAW Lobbyist

In 1919, A group of Pennsylvania farmers founded Penn National Insurance to provide affordable workers’ compensation insurance.

Today, Penn National Insurance sells property-casualty insurance in 11 states by partnering with more than 1,200 independent agency operations. In 2012, we affiliated with Wisconsin-based, Partners Mutual Insurance Company. As one company, we bring the personal attention and local focus of a regional carrier, along with the quality of products and ser vices of national carriers.

Interested in partnering with a thriving insurance carrier with superior customer experience? We are looking for select commercial-lines agencies in Wisconsin.

Contact: Vicki Lentz 262-432-3420

vlentz@pnat.com

Contact: Clayton Zogata 715-383-5454

czogata@pnat.com

• Strong financial performance and A.M. Best Financial Strength Rating of A-

• Expanded Commercial Lines products and services with competitive pricing and comprehensive coverages to help our agents grow profitably

• Comprehensive Personal Lines product offerings, including Homeowners Equipment Breakdown and additional protection plans

• State-of-the-art quoting, processing and self-service tools, making it easier and faster to meet your customers’ needs

• Local, experienced underwriting, claims and management staff