From Your IIABA National Director

The Future Matters

What a successful Young Agent Leadership Conference we just completed at the Dollywood DreamMore Resort for our Young Agents and their families! We had 37 Young Agents from across the State attend this event that included our Board meeting, breakout sessions, socializing, and family time.

I was honored to participate as one of the industry experts on a panel discussion that included agents, guests, and company representatives. One of the questions was “What makes Independent Agents different from Captive or Direct writers?” Bradley Flowers, of The Insurance Guys podcast, also participated in the discussion. Bradley owns a very successful and high tech agency, Portal Insurance, in Mobile, Alabama. The technology and procedures that he has implemented in his agency far exceeds how most agencies operate. It was fascinating to hear what is on the horizon for our industry in the future.

Choices and Relationships Matter

Technology is already such an important tool in our industry, and it will only expand on how we will transact business in the future, but the difference between Independent Agent and Captive/Direct writer is not only technology. Technology is the tool to help our agencies operate more efficiently. The difference is in our core values, choices and relationships.

We provide our insureds and prospects with choice. They have the choice of agents and carriers that will best fit their needs. They have the choice of coverages, deductibles, payment options, and those same choices are available again at their renewal. There is no "one size fits all" in the Independent Insurance world. As an agent you can write insurance across state lines, you can cover all of their insurance needs and offer choices to your clients that will best protect their assets.

Through our work, we develop a relationship with each customer. They depend on our expertise to counsel them on the best choices for their insurance needs. We become their “Trusted Advisor.” That young person obtaining their first personal or business policy depends on their agent to direct them as to the insurance needed. As their needs change their agent will know if they purchase a new home or building. They know if their client marries, has children or hires an employee. Will they need life insurance, key man, health, or an annuity? Your relationship with your client strengthens will each milestone in their life and the insurance that they will need on this journey.

We also develop relationships with our insurance carriers. We know the managers, underwriters and marketing representatives. We know the guidelines, preference and target market of each of those companies and by doing so can place our customers with the best carrier for their individual needs.

The relationships that we develop with our current customers, prospects, carriers, friends, and vendors become a pipeline for referral business. What better way to establish your agency than by a recommendation?

What makes Independent agencies different from Captives and Direct writers? It is the choices that our insured’s have. It is the relationships that we develop with our customers and insurance carriers and it is the technology that we will be using to transact business in order to continue to be successful in this wonderful industry.

A career in insurance provides endless possibilities. What I took away from our 2021 Young Agent Leadership Conference is that our industry is in great hands. I am so impressed with the creativity and passion from our Young Agents. They are hungry for knowledge, they have amazing, creative ideas. They will thrive not only in their insurance careers but in life.

Thank you to all our Young Agents in attendance. Thank you to our speakers for sharing your ideas and thank you to our insurance carriers and brokers for their support.

We hope to see you all at the 128th Insurors of Tennessee Annual Convention in Muscle Shoals, Alabama, October 16-19. u

“ T h e difference is in our core values, choices and relationships. "

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