July/August 2022 • New York 9 Consider mid-career professionals 15 A culture of well-being 27 New hires have new expectations IN THIS ISSUE for the NEXT GENERATION What your workplace culture says about your agency CREATE an ENVIRONMENTFUTURE-READYATTRACTIVE, PAGE 20
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COVER DESIGN Anne Dolfi Vol. 66, No. 7 July/August 2022 July/August 2022 • New York COVER STORY 20 Create an attractive, future-ready, environment What your workplace culture says about you FEATURES 27 Is your agency a source of inspiration? New hires have new expectations 31 Jammin’ live at the Hard Rock Insurance professionals assemble at the Annual Conference DEPARTMENTS 4 In brief 9 Tech 15 Staffing 37 E&O 43 Ask PIA 49 Officers directorsanddirectory 50 Readers’ service and advertising index Statements of fact and opinion in PIA Magazine are the responsibility of the authors alone and do not imply an opinion on the part of the officers or the members of the Professional Insurance Agents. Participation in PIA events, activities, and/or publications is available on a nondiscriminatory basis and does not reflect PIA endorsement of the products and/or services.
reproduced—in
President and CEO Jeff Parmenter, CPCU, ARM; Executive Director Kelly K. Norris, CAE; Communications Director Katherine Morra; Senior Magazine Designer Sue Jacobsen; Editor-In-Chief Jaye Czupryna; Advertising Sales Executive Susan Heath; Communications Department contributors: Athena Cancio, David Cayole, Alexandra Chouinard, Patricia Corlett, Anne Dolfi, Crystal Ringler, Calley Rupp and Lily Scoville.
Postmaster: Send address changes to: Professional Insurance Agents Magazine, 25 Chamberlain St., Glenmont, NY 12077-0997. “Professional Insurance Agents” (USPS 913-400) is published monthly by PIA Management Services Inc., except for a combined July/August issue. Subscription rate for members is $13 per year, which is included in the dues; subscription rate for nonmembers is $25 per year. Professional Insurance Agents, 25 Chamberlain St., P.O. Box 997, Glenmont, NY 12077-0997; (518) 434-3111 or toll-free (800) 424-4244; email pia@pia.org; World Wide Web address: pia.org. Periodical postage paid at Glenmont, N.Y., and additional mailing offices. ©2022 Professional Insurance Agents. All rights reserved. No material within this publication may be whole or in part—without the express written consent of the publisher.
FYI
People do switch jobs for legitimate reasons, just make sure the reason is a good one and they can back up the stellar sales skills they claim to have.
Lateral moves
Watch out for people making lateral moves—especially in the same industry. While this may not always be the case, it’s possible that salespeople in the same industry looking for the same job elsewhere may be doing so because they may be having difficulty making their sales quotas at their current job. Even if people are coming from another industry, why are they making the lateral move? It happens, just make sure the reasons are solid. Excessive salary requirements? Someone who wants a big salary is a red flag. Good sales people will work mostly or completely on commission because they know that’s how they make the most money.
The challenge At some point in your hiring process tell the applicants that you don’t think they have what it takes to be a part of your agency. When you ask the question, “Why should I hire you?” Whatever answer they give—even if it’s the best you’ve ever heard—your response should be, “I don’t hear it. I don’t think you’re what we’re looking for.” You’d be surprised how many times the conversation will continue, “You don’t?” “No, I don’t.” “Oh, okay.” The people you want should sell themselves at this point. If they can’t, or they won’t, you don’t want them. Test their sales skills If they’ve been in sales for any length of time—and they’re any good—they can effectively answer objections, know how to compete, have standard closes, and can handle all sales situations. It is important to hire the right person for the job the first time. Rushing through the process because you need to fill a position only will hurt agencyyourin the long-term.
The right traits Look for self-esteem, self-confidence, work ethic, integ rity, and the right attitude. After people skills, these are the key character traits. These qualities can’t be taught—people either have them or they don’t. You must look for these traits and test for them in your hiring process. Be wary of unemployed producers Unless there are some extenuating circumstance, typi cally salespeople aren’t unemployed unless they can’t sell and got fired, or lost their cool and quit.
BRIEFIN PROFESSIONAL INSURANCE AGENTS MAGAZINE4 (continued on page 6.)
The key to hiring your top sales performers
Here are some tips to help make the hiring process for your open sales positions a little easier for you, and they will help you find the right fit for your agency, which will add to your agency’s success and business growth. Start with people skills For sales-related jobs, it’s important to engage with applicants who have people skills. If someone lacks these skills, he or she will never be able to sell effectively.
If salespeople want a large salary, it’s usually because they know they won’t sell enough to pay the bills. If they say they need a big salary because they are taking a pay cut coming to work for you, be wary. Top sales people don’t take pay cuts. Have a hiring process Make sure you have several people put their eyes on a potential hire. Do all your testing, check all paperwork, cross all your T’s and dot all your I’s. Don’t take shortcuts, have a process, and stick to it like a pilot doing a preflight check.
John Chapin Finding the right salesperson to fill a vacancy in your agency can be challenging. Remember that salespeople need a tailored set of skills to be successful in sales—they need to have the right personality and the right drive. Do you know what to look for when hiring new salespeople? It is important to hire the right person for the job the first time. Rushing through the process because you need to fill a position only will hurt your agency in the long-term.
Att ract ing Gen Z What Gen Z looks for in employment Collaborat ing with Gen Z Working habits preferred Require health benefits Company diversit y Company integration of technology Happy guiding colleagues through technology Direct/consistent feedback Human connection 91% 70%77% Keeping Gen Z What to consider to keep talent around Value work/life balance Explore new roles than switch companies Stay longer if the job is fulfilling 75% 51%77%90% 60%77% The Generations: Group Nicknames Gen Z = Zoomers (1997-2012) Gen Y = millennials (1981-1996) Gen X = Gen Xers (1965-1980) Baby Boomer = boomers (1946-1964) BY THE NUMBERS In with the new: Generation Z in the workplace Generation Z is moving—quickly—into the workforce. Statistically, this generation differs from the resident baby boomers and Generation X, and even slightly from the newly settled millennial generation. Understanding the key values and needs of the adult individuals of Gen Z can help insurance agents attract them to—and keep them in—the industry. These are just some of the important values and needs that insurance agents should consider as they recruit Zoomers to their agencies. While these might be different than the values and needs of older employees, staying open-minded and looking for more ways to understand potential new hires can help agents grow their agencies—because growth starts internally. When an employer values its employees priorities, both will come out having benefited. PIA.ORG 5
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In addition, give them some standard objections and ask for their best responses. Ask them for their top closing questions. Ask for their follow-up process. Test them and role play sales situations with them. Give them homework Give them assignments during the hiring process. It could be to reach out to the other four or five people they will be interviewing with to set up an appointment, to read a particular sales book and give you an executive summary, or give them some scripts, have them practice them, and then test them on the scripts.
Bringing an applicant to an event with an open bar, playing golf with a candidate, or visiting the person at his or her home, are some great ways to find out what people are really like. Use personality tests, in-office interviews, and other stan dard, accepted hiring practices as your foundation, but realize that most tests can be beaten, and most people can put their best mask on temporarily. To find out what people are really like, move them out of the typical hiring environment.
References Be skeptical of references, especially personal references. Anyone can find a third cousin twice removed to say the candidate is the best thing since the wheel. Get refer ences, but be skeptical. Background checks Do a background check. You should be able to find enough information on social media and elsewhere without paying for a background check. That said, a full background check is not a bad idea. Know the type of person you want to hire Think about the position you are trying to fill. And, think about the qualities the applicants need to possess to be successful in the position. Have standards and stick to them as if your life depends upon it. Because the life of your business does depend upon it. Don’t lower your standards because you don’t have any good applicants, and you feel like you must fill the position with someone. Set expectations up front Show applicants a job description up front. This should include: activities they are expected to perform, number of calls they are expected to make, anything they are expected to learn, hours you expect them to work— including any weekends and nights—and how they will be evaluated on job performance. Also, let them know if there will be travel involved, what training looks like, and anything else they can expect to encounter on the job. Get agreement on the expectations up front before the person accepts the job.
The applicant’s actions Watch them before, during, and after the hiring process.
Shake up the testing process
PROFESSIONAL INSURANCE AGENTS MAGAZINE6
Provide the right environment It doesn’t help to hire the right people if you bring them into an environment with chronic underperformers, negative people, and a lack of support. Have an effective on-boarding and training program along with an atmosphere of professionalism and high standards—this will go a long way to building your new hire’s success rate. Give them a successful track to run on that establishes good sales habits. With the current hiring systems companies use, only about 20% of salespeople work out long-term. Even if you’re at 50%, is it worth all the time, effort, and money that you waste hiring the wrong salespeople?
While the above is a lot of work, if you follow it correctly, you’ll have a 90% to 95% hiring success rate and save thousands of hours, headaches—and in the long-term, likely hundreds of thousands of dollars.
Chapin is a motivational sales speaker, coach, and trainer. For his free eBook: 30 Ideas to Double Sales and monthly article, or to have him speak at your next event, go to www.completeselling.com. He has over 34 years of sales experience as a No. 1 sales representative and he is the author of the 2010 sales book of the year: Sales Encyclo pedia (Axiom Book Awards). Reach him at johnchapin@ completeselling.com.
(continued from 4.)FYI Ask who their primary competition is at their current company and why someone should do business with them versus the competition.
Hire slowly and fire quickly Do the work up front and don’t cut corners. If you do hire the wrong person, let him or her go quickly.
Other than dressing well, showing up on time, commu nicating well, being pleasant, etc., do they follow up with you after each step of the interview process and how? How do they do on any assignments you give them? How do they interact with other people they encounter?
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Hiring: Looking forward can mean looking back
PIA.ORG 9
I want to talk about my dad. I promise, this isn’t a therapy session. My dad was an insurance broker for over 20 years. And, like many involved in this business, his path to insurance was not straight. As a high school graduate, my dad joined the Army Reserve in the 1970s, after which he started a job working for the town in which he grew up. He spent the next 20 years working for the town. I say job because that is what it was. Despite being there for 20 years, he never considered it a career. It was a means to an end—a government retirement. During those 20 years, he dabbled in insurance. However, it wasn’t until he was in his 40s—when he was looking at the prospect of losing his primary income—that he turned to insurance full-time. The rest is history for my dad and my family. Why I am I telling you this story? It’s not merely to talk about my dad—whom I adore—although I promise you that is certainly part of it. I illustrate my dad’s story because, while he was unquestionably oneof-a-kind, his story is not. There is a shortage of quality new hires in the insurance industry. There also is a pool of millions of people (like my father) in the country right now: Mid-career professionals looking for a career change. The insurance industry can provide them with an ideal landing spot.
TECH
BRADFORD J. LACHUT, ESQ. Director of government & industry affairs, PIA Northeast
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Generation—a nonprofit group dedicated to helping unemployed and underemployed individuals obtain work—conducted a survey of 3,800 employed and unemployed indi viduals and 1,404 hiring managers from around the world.2 The survey found that while mid-career profes sionals—defined as job seekers 45 years old or above—demonstrated job performance on par with younger workers, hiring managers overall had a negative perception of mid-carrier professionals during the application process, ranking them significantly lower than younger individuals when asked to consider who is the best fit for an office. to actual policy for underwritten Great American Insurance Company, Great American Insurance Company of New York, Great American Alliance Insurance Company, and Great American Assurance Company, authorized insurers in 50 states and the DC. states. 2022 Great American Insurance Company, 301 E. Fourth St., Cincinnati, OH 45202 5633-AGB (5/22) Bow, NH 877.552.2467 aimscentral.co m FROM THE FARM AND RANCH
PROFESSIONAL INSURANCE AGENTS MAGAZINE10 Have lookingexperience,fornewexperiences
Mid-career professionals have been in the workforce for more than 10 years, and they are looking for a career change. Maybe like my father, they are retiring from one profession and are looking for the next. Maybe they are just dissatisfied with their current job or looking for better work-life balance.
©
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There are myriad reasons why someone would be switching careers, but midcareer professionals are out there.
The job website, Indeed.com, conducted a survey in 2019 of 662 full-time U.S. workers. Of those surveyed, 49% of the respondents had made a dramatic career shift— and among those who hadn’t, 65% had considered it.1 Check the date on that survey, that was pre-pandemic. I guarantee you that number has gone up in the past few years. You might be thinking that’s great that mid-career professionals are out there, but why should I care and why should they want to get into the insurance industry? Great questions! Let’s answer the first one from my dad’s perspective. On paper, my dad was not the most attractive candidate. No college education (he insisted he only graduated high school because the teachers didn’t want to put up with him anymore), and 20 years of non-insur ance work experience. Sounds like the ideal candidate, right? Here is the issue with many mid-career profes sionals: They may not fit neatly into hiring categories and requirements. However, fixating on education or relevant experience can blind a hiring manager to quality candidates.
Mid-career professionals have so much to offer to the insurance industry and vice versa. The agencies that recognize this stand to have a huge advantage over those that don’t.
PIA.ORG 11
This disconnect between percep tion and actual performance can create real harm to a business. To avoid falling into these unconscious bias traps regarding mid-career professionals, agencies and hiring managers may need to reevaluate what is important in a candidate.
My dad not only had a family, but he also had interests and obligations outside of work. The insurance industry offered my dad—and millions of mid-career professionals—the work-life balance that was important to him and vital to today’s mid-career professionals. My dad was an avid golfer, never missed a school sporting event and loved to travel. He was able to do all of those while working in Coincidentally,insurance.thework-life balance was a benefit to my dad, but it ended up being a benefit to his agency, too. My dad spent much of his time volunteering with the Shriners—you know those guys with the funny hats (fezzes) and small cars? As it happens, the Shriners were not just guys wearing funny hats. They owned businesses, houses, and classic cars. They had insurance needs.
Lachut is PIA Northeast’s director of government & industry affairs.
Who did they go to for their insurance? My dad. So, the freedom that the insurance profession offered my dad ended up benefitting both him and his agency—a benefit his agency continues to see to this day. My dad was truly one-of-a-kind as a human being, but he was just one-of-amillion when it came to mid-career professionals looking for a new direction.
What wouldn’t a resume say about my dad? It wouldn’t show that 20 years of work experience may not have given him hard insurance skills, but it did equip him with the soft skills (e.g., interpersonal commu nication), that are so important to thriving in a workplace. Chances are if you have hired someone and it didn’t work out, it wasn’t because the person lacked the hard skills necessary for the job, but rather the employee lacked the soft skills necessary to be successful. All due respect to the world of insur ance, but the insurance-side of the business can be taught. In fact, it must be taught, each person reading this article learned insurance both in an agency and in a classroom at some point in their professional career. If you are going to need to teach the hard skills to a new hire, why not take a chance on a candidate who already has built up strong soft skills that making learning those hard skills a little bit easier?
1 Indeed, 2019 (indeedhi.re/3MncldN)
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3 At the time, I didn’t think he was young, but now that I am roughly the same age as he was then, I don’t think he was old at all.
Perhaps, most importantly my dad’s resume wouldn’t show that he was a little desperate. He had just finished one phase of his life, was still young,3 and he had a family that he didn’t have 20 years prior. My dad was looking for a permanent landing spot, and he was willing to work hard to get and retain it. These are all important points that any hiring manager needs to keep in mind. What does the insurance industry offer mid-career professionals?
2 Generation, 2021 (bit.ly/3wmC5Bi)
(800) 424-4244 | memberservices@pia.org As work environments shift and evolve, your PIA member-exclusive market access can entertain hundreds of class codes, offer a low minimum premium, and provide quick turnaround. Let our expertise and knowledge in the WC market work for you and your small-business clients. PIA’s NumberONE Comp market is now entertaining artisan classes, such as: • Landscape gardening—excluding hardscape • Plumbing NOC • Electrical wiring • Ceramic tile • Cabinet work installation • Concrete and cement work • Painting NOC—interior only Other classes include offices, restaurants, beauty shops, retail stores, doctors/dentist offices, and more. Your Clients are Getting Back Businessto PIA's Monoline Workers’ Compensation Program is Here to Help In partnership with
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Employers seeking to attract and retain top talent always have needed to pivot their benefits offerings, but never more frequently than in the last two or three years. The trends are no longer focused simply on paying for health insurance, life insurance, and giving paid time off; that is now expected. Even on-campus benefits—like dry cleaning, gyms, and grocery shopping—are not sufficient. Remote work is no longer a perk, it is an expectation. Today, the focus is centered on employee relations and how employers care for their employees holistically and for their employees’ well-being. According to Forbes magazine, “six in ten employees say well-being benefits will be a top priority when applying for their next job” and “for Gen-Z employees 67% strongly agree or agree that well-being benefits will be a priority for them in evaluating new job offers.”1
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A culture well-beingof So, how do employers shift their thinking and their budgets to maxi mize their return and create a culture of well-being? Employers and their human resource specialists need to redefine their approach to how they think about their employees. Employees are looking for a level of compassion, work-life balance, flex ibility, growth, and development— great appreciation for the next generation
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They need investment tools, financial education, and guidance on reaching life goals like buying a house and saving for college. The CARES Act provided the opportunity for employers to assist employees with student loans under IRS Code Section 127. However, finding ways to continue to contribute beyond the regulations will be important for employers. Health care. A close second is for health care solutions that better meet the needs of employees where they are. Accessible mental health solutions have become critical for employees and their families. The dramatic expansion of telemedi cine options—even beyond the COVID-19 pandemic—has demon strated the desire for employees to have solutions at critical times in their lives. Telemedicine also has grown beyond primary and urgent care and even mental health care. Today, employers can offer options to employees that give them a health care navigation champion, virtual options for specialties like physical therapy, or options that can provide virtual access to national experts that help them with everything from health and wellness, to support and guidance for complex diagnoses for themselves and their families. Companies like Summus Global Inc., Quantum Health, and Sword Health are just a few that are paving the way to a new way of accessing care for today’s mobile patients. This is a critical shift in how health care has been delivered in the recent past. Wellness benefits no longer only apply to on-campus benefits, although a popular yoga or spin class may help lure employees to the office. Employees are looking for reimbursements or special pricing for meditation apps, acupuncture, massage, and other fitness and health programs.
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not just money. The winners will focus on key aspects of an employee’s life, financial fitness; health and wellness; and social and family solutions. Financial concerns. At the top of the list are financial concerns. Helping employees relieve these concerns has an impact on productivity, so these programs benefit both the employees and their employers. 401(k) plans and employer contributions still are important, but employees also have stress from financial debt such as student loan repayments. [EDITOR’S NOTE: If you don’t offer your employees a 401(k) plan, PIA can help. For more details see: www.tagcobrand.com/pia/.]
721117078 DURING ELECTION SEASON … Agents
Blueprint for success Today’s employees want to work for employers who listen to them and under stand the challenges in their lives outside of work. This whole-person view combined with transparent communication about how employees contribute to the company mission helps team members have purposeful and meaningful work, helps them bring passion to their work, and reduces the chances of Employersburnout. that shift to the Great Appreciation can lead dynamic workplaces and offset the negative effects of the Great Resignation.
Stefan is president of Engage Insurance and Matsis-McCready is associate general counsel and director of human resources for Engage PEO. , 2021 (bit.ly/3Po2aYa) www.pia.org/AAC Advocacy Coalition helps elect state legislators who advance issues important to the insurance industry.
PIA.ORG 17 Flex time. Flexible work arrange ments and the increasingly popular unlimited paid time off are still important benefits. Employees expect flexible work arrangements with hybrid and remote work seam lessly integrated into the work envi ronment. Unlimited, or generous paid time off packages also are in high demand, as employees want to feel their employer values them taking time off to maintain balance in their lives. Sabbaticals also are making a comeback, where longserving employees can take a period of time off to explore community service, professional development, travel, or a personal hobby. Family considerations. Family solutions round out the shift in what has become important to employees today. MetLife’s 2022 Employee Benefit Trends Study found that employees who can address the needs of their lives and their families’ lives because they have a more flexible schedule or hybrid work solution, or access to programs that support them in the various stages of their lives, are more productive in their Assistanceworkdays.with IVF and egg freezing is another sought-after benefit. Parental leave is expected by most employees entering the workforce today. Access to day care, or elder care solutions, Medicare planning for those who are moving into the retirement stages of their careers, pet care solutions or even bringing pets into the workplace are all part of the most robust offerings. Other considerations. Career development, workplace culture, and values also rate high on the list. Employees want to work for compa nies at which diversity, equity, and inclusion are valued and practiced, and at which growth in their career and as a whole person is valued. Coaching and professional development at all team-member levels are increasingly desired, as are tuition reimbursement and company-led leadership programs to develop junior staff.
1 Forbes
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BEN JOHNSON, SHEFFIELD HAWORTH TIM M C EWAN, SHEFFIELD HAWORTH LEADERSHIP ADVISORY In a post-COVID world of hybrid working and changing expectations of work, attracting the future generation of independent insurance agents can seem daunting. According to PwC, 65% of U.S. employees are looking for new jobs, while 88% of U.S. executives have been seeing higher staff turnover since the beginning of COVID in 2020.1 CREATE an ENVIRONMENTFUTURE-READYATTRACTIVE, What your workplace culture says about your agency for the NEXT GENERATION PIA.ORG 21
One of the ways agents can look to overcome these challenges is by focusing on workplace culture. This comes with several significant potential benefits.
Multiple studies show that businesses with positive work cultures tend to achieve better financial results; are more innovative and more productive; have lower employee turnover; and find it easier to attract and retain top talent.2 At the same time, millennial and Gen Z professionals are attracted to working at firms with strong environmental, social, and governance principles.3
As an example, cumulative stock market returns among the publicly held Fortune 100 Best Companies to Work For are nearly three time greater than the market average. A Cornell University study proved that engaged, empowered employees deliver better customer service, better products, and have happier Fortunecustomers.
Best Companies to Work For also had an average voluntary employee turnover rate of just 12% in 2019, versus the national average of 27%. More over, 93% of employees at the 100 Best Companies to Work For say they’re proud to tell others where they work—which makes attracting talent far easier, too. These are all the potential benefits of a thriving workplace culture, but before we go on, it’s important to be clear on what a workplace culture is.
In one survey, 83% of human resource leaders said that diversity, equity, and inclusion was either “very” or “extremely” important to their organization.6 More than three quarters (76%) of job seekers say a diverse workforce is an important factor when evaluating companies and job offers, while 32% would not apply to a job at a company that lacks workplace diversity.7 Mean while, a majority of MBA students surveyed said they would accept a lower salary to work for an environ mentally responsible company.8 With the culture around work changing so rapidly and profoundly, it can be difficult to say what a thriving workplace culture even looks like today. However, based on our experience around attracting and retaining talent, it’s best to focus on key measurables.
Remote working has proved so popular that only 4% of hybrid or remote employees would choose to return fully on-site.4 Employees also value other aspects of work over their salaries. These aspects include sustainability, mental health,5 and diversity, equity, and inclusion.
How to build a thriving culture Every independent insurance agency has a culture, whether it is deliberate
A thriving workplace culture
Some say culture is just behavior, but there’s more to it than that. Another way to define it is to say that culture is made up of the underlying assumptions, values, beliefs, and expectations shared by your agency’s members. It can be positive or negative, proactive or reactive.
There are many models of organizational culture. The Johnson-Scholes model, developed by Gerry Johnson and Kevan Scholes in 1992, is a useful frame work for thinking about culture. It suggests that any workplace culture is built on the following six factors: No. 1: Control systems. Businesses use different means to control employee behavior—from pay and training, to disciplinary systems and personal development plans. No. 2: Rituals and routines. These are the everyday behaviors and actions that are expected and normal within the business. No. 3: Stories. These are the collective memory of a business, based on shared past experiences. No. 4: Symbols. These can be anything that represents your agency—either visually or metaphorically—from the dress code and the office foyer, to branding and logos, to attitudes and mindsets around issues such as diversity and inclusion. No. 5: Organizational structures. The official hierarchy and management structure of your agency, as well as the unofficial influencers, such as admin istrative professionals or charismatic individuals who help to motivate others. No. 6: Power structures. These are determined by which people have the most say in your agency, and how that voice is disseminated.
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What is a workplace culture?
What does a thriving workplace culture look like? Americans’ attitudes to work have shifted in the last few years, partly due to COVID, partly due to the changing priorities of younger gener ations entering the workforce, and partly due to concerns around social and environmental issues.
• Your employee turnover goes down • Your productivity increases • You attract a higher number of high-quality candidates when you’re recruiting • Your employees are keen to take on more responsibility or learn new skills • Your employees offer more frequent feedback about how to improve processes or solve problems • Your flexible work envi ronment is effective and employees are productive • Your workforce becomes more diverse—and you’re able to retain diverse talent
One of the biggest challenges around attracting the next generation of insur ance-agent talent is the unpopularity of insurance as an industry. In our expe rience, at university and college careers and recruitment events, insurance is consistently the least attractive of all financial services careers.
How to build a culture that attracts the next generation
No. 4: Symbols. A symbol is more than just a logo or brand. For example, you could experiment with your dress code. Being more flexible can become symbolic of the experience of working for you. Investing more in technology could be symbolic of your culture and mindset. Think broadly about how you want your clients and employees to visualize your agency, then create symbols that reaffirm that. No. 5: Organizational structures. These can be difficult, costly, and time consuming to change. It’s usually best to focus on other areas of culture first and then return to this if needed.
No. 6: Power structures. Another phrase to describe the most influential people within a business is culture carriers. In a hybrid model, you benefit from identifying who your informal culture carriers are and put work into influencing them to be onside and effective. Above all, whatever you look to change, it’s best to consult with your employees, and to be open and transparent. It can have a positive impact when you make people part of the conversation and the changes that come from it, because they feel more of a sense of ownership. This will again increase their motiva tion and productivity, as well as your bottom line.
For independent agents, there are two ways they can leverage their workplace culture to become more attractive.
workplace
Indicators
PIA.ORG 23 or not. If you’re not actively shaping or influencing it to help generate the business outcomes you want, then it may become counter-productive. This is where the Johnson-Scholes Cultural Web model comes in— because you can use that to shape your agency’s culture. Let’s look at how: No. 1: Control systems. You have less direct control over employees working remotely. Trust them, give them clear boundaries and expecta tions, and let them get on with their work. This tends to increase motiva tion and productivity. No. 2: Rituals and routines. Hybrid working creates huge opportunities to change pre-existing rituals and routines. Many employees now returning to the office have forgotten the old ones. This enables you to establish new routines better suited to the culture you’d like to develop. No. 3: Stories. These are most effective when based around shared experi ences, so encourage shared experiences amongst your employees. Have spaces where they can meet. Have regular and varied social gatherings, from meals out, to summer barbeques, to dog-walking afternoons. It doesn’t matter what, so long as everybody in your agency can partake if they wish, regardless of physical limitations or religious and cultural differences. The more your people willingly share time together, the more positive your agency’s stories will be.
First, we’ve already mentioned that millennial and Gen Z talent tends to place a lot of emphasis on working for businesses that value ESG, DEI, mental health, and flexibility. Agencies with employees who communicate and live those values will do much better at attracting talent than those who do not.
Second, in the big international insurance centers of New York, London, and Singapore, insurance firms of all kinds—carriers, MGAs, brokers, and InsurTechs—are attracting talent by focusing on their technology and new innovative business models. Essentially, these firms are pitching themselves as tech Similarly,companies.thoseagents who embrace new technologies are likely to come across as more dynamic, exciting places to work, with more of the culture and atmo sphere of a tech firm. This can make them far more competitive in today’s ferocious and fast-changing talent market. of a thriving culture:
9 McKinsey
3 Corporate
As an example of this, McKinsey paints a future for the independent insur ance agency which, by 2030, needs fewer staff and can leverage the power of AI and machine learning to: help agents to support a substantially larger client base while making customer interactions (a mix of in-person, virtual, and digital) shorter and more meaningful, given that each interaction will be tailored to the exact current and future needs of each individual client.9
8 Corporate Compliance Insights,
4 Gartner,
6 AON,
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newsletters@pia.org 420116352 UPDATED DESIGN FULL-COLOR CONTENT CUSTOM OPTIONS FIT YOUR BRAND AND MARKET EXPERT INFO FOR INSUREDS COST-EFFECTIVE AND EASY BUILD LOYALTY with your customers NEWSLETTERSWORK
The foundations of a thriving culture So, to attract the future generation, it’s important to hold and communicate values around social and environmental principles that resonate with them. It’s important to be flexible, and to develop your workplace culture in ways that embody these principles. Yet, at the same, the technologically innovative independent insurance agency of the future is likely to be more automated, more productive, and to need fewer employees. Realizing this AI-driven, service-led future is likely to make the sector more attractive to young emerging talent, while at the same time allowing professional insurance agents to pick and choose who they want to work for their agencies. Johnson is managing director and global head of insurance & InsurTech at Shef field Haworth. He joined Sheffield Haworth in 2019. His goal is to deliver solu tions that combine industry expertise with strategic thinking—driving creativity, innovation, diversity and inclusion for clients. For over 14 years he has placed executives, interims, and consultants at C-Suite level across some of the biggest names in the sector. McEwan is Managing Director for Sheffield Haworth Leader ship Advisory. He leads the SH Leadership team and specializes in organizational culture and leadership. He provides advisory support to individual executives and wider organizations through boards, executive committees and management teams. He has held numerous leadership positions including global head of leader ship and learning at the global asset manager, Henderson. 2021 (pwc.to/3wbGsip) Place to Work, 2019 (bit.ly/3N9uV92) Compliance Insights, 2022 (bit.ly/3NeOwEM) 2021 (gtnr.it/3l6spEy) , 2020 (bit.ly/3NacbX5) 2021 (aon.io/3wafxU7) 2020 (bit.ly/3l6uHna) 2022 (bit.ly/3a0Q4nF) & Co., 2021 (mck.co/3syxhXi)
5 Forbes
1 PwC,
2 Great
7 Glass Door,
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Is your agency a source of inspiration?
New hires have new expectations
Agency owners must be forward-thinking to thrive into the future by embracing this new generation and creating an agency culture that will attract and retain them for years to come.
PIA.ORG ROBYN BORER AND JENNA CLEMISHAW Liberty Mutual and Safeco Insurance 27
Embrace diversity, new talent
Now more than ever, embracing diversity is critical to an agency’s ability to attract and retain talent of all ages. Millennials and Gen Z especially value and increasingly expect diversity in the workplace.
According to Pew, Gen Z is more diverse than previous generations, and both millennials and Gen Z view soci etal changes as a good thing.1 And, with nearly 1-in-4 agency hires last year being from Gen Z, 2 this new gener ation already is making its mark on the workplace. To bring in fresh talent, you must look beyond the list of skills found on a resume. By doing so, you can open the pathway for a more diverse candidate pool. The right talent can come from anywhere—a great employee is one who is engaged with the agency. He or she will have the right mix of mindset and skillset to build upon the foun dation of an agency and lead it into the future.
Change is inevitable as the new generations enter the workforce. However, no one could have predicted that a global pandemic would catapult us into a new era of work so quickly. Prior to the pandemic, millennials (those born between 1981 to 1996) and Gen Z (born after 1996) were establishing their careers and already pushing for culture shifts in the workplace—they are the generations that grew up with the internet, digital information at their fingertips and an increasingly global worldview. As we start to find a way forward after the tumultuous last few years, we’re seeing major lasting shifts in the ways that we work. Now is the time for agents to re-examine their workplace practices to align with the wants and needs of the next generation of employees. Now that this next generation of insurance leaders have experienced what technology can do for the workplace, they’re ready to fully embrace digital along with a few other important culture shifts. Five key areas for agency leaders to consider as we usher in this new era of work are talent diversity, workplace flexibility, creating meaningful work, a caring workplace and development opportunities.
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Withopportunities.theimpacts of the pandemic, creating a caring workplace culture is more important than ever as employees continue to experience increased levels of stress and uncer tainty. In fact, TELUS International found that 80% of employees would consider quitting their current
Establish a caring workplace culture Creating meaningful work and culti vating a culture of caring go handin-hand. When an employer cares about its employee’s well-being, it comes back full circle. Employees are more likely to stay with the organization, do their best work and promote the business as a great place to work to their network, opening the pathway for more talent recruitment
Work is no longer only about getting a paycheck. Millennials and Gen Z are seeking jobs that give them purpose and make an impact. The results of a Zety survey of Gen Z job seekers offer a clear picture of just how important purpose is to this up-and-coming generation:6
Offer workplace flexibility
• 95% of survey respondents said it was “very or somewhat important” for their work to have meaning,
So, how do you hire from this group? Insurance agencies need to tell compelling stories of the meaning behind their work. Insurance isn’t just about the process of issuing a policy—it’s about providing clients peace of mind and delivering on the promise made if they suffer a loss. It is deeply human, and independent insurance agents are helping their clients and commu nities through good times and bad. Telling these stories when recruiting can help differentiate your agency from other agencies, and from other opportunities and industries candi dates may be considering.
It’s no surprise after two years of mostly remote work that job hunters and employees now expect more flexible work options. Most businesses continued to operate successfully with a fully remote workforce, and employees proved they can continue thriving while working from home. The flexibility realized during the pandemic has now become ingrained in culture. According to a report by Zety, flexible working practices were one of the top things that attracted people to a new job.3 In fact, Bloomberg found that nearly half of millennials and Gen Z workers would consider quitting if their employers weren’t flexible about remote work.4 This is contrasted with the nearly two-thirds of agencies that are unwilling to hire a remote employee and more than half that plan to keep staff in the office full-time in 2022.5 The same study also found that of agency employees who do work at least partially remote:
• 62% said it was important for the company to have values that match their own, and
• 57% believe they have better work-life balance, • 52% have more personal happiness, and • 47% are more productive when working from home.
Create meaning and purpose in work
• 71% said they would take a pay cut to do meaningful work,
To adapt and change the definition of what makes a great employee, you also must consider the standards and assumptions used as part of the recruiting process. Is a bachelor’s degree really required for the role? What transferable soft skills does a candidate bring? How can you foster the talent you already have to help them fulfill their career ambitions and emerging needs of the business? These are just a few examples of the critical questions that agency executives must ask themselves to recruit and retain diverse candidates.
• 61% looked for companies that had a purpose beyond just making a profit.
The benefits of offering a flexible work arrangement are real. Happy employees are more engaged in the work they are doing and they are more likely to stay with your agency. Flexibility doesn’t have to be a one-size-fits-all solution. Different employees may want different options to accommodate the demands of their work and personal lives. By embracing flexibility as part of your agency’s culture, it also means you can recruit and retain talent beyond the small geographic footprint directly surrounding your agency. You can set your flexible or fully remote employees up for success by estab lishing clear and measurable performance goals, so no matter where they are working from, they have something to work toward that’s attainable for their role. Agencies offering flexibility become enticing options for job seekers, while agencies that maintain a rigid viewpoint on being in a physical office as a requirement will miss out on high-quality candidates.
A Gallup survey found that employees who strongly agree that their employer cares about their overall well-being, in comparison to others, are:
Gen Z explicitly lists career develop ment opportunities as an important
How you support employees will look different based on your agency’s values and culture. Offering tools and resources that support and foster the mental health and overall wellbeing of employees is a great start.
Establishing Employee Resource Groups, offering Employee Assis tance Programs, and encouraging employees to bring their whole selves to work are just a few examples.
PIA.ORG 29 job for a job that focused more on employees’ mental health.7
• five times more likely to strongly advocate that their company as a great place to work, and to strongly agree they trust the leadership of their organization, and • three times more likely to be engaged at work.8
Creating a caring workplace culture will help agency owners attract top talent, retain employees, and prevent burnout among staff.
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• 69% less likely to actively search for a new job, • 71% less likely to report experi encing a lot of burnout,
Providing growth and develop ment opportunities also is critical to attracting and retaining the next generation of insurance leaders.
Provide growth and opportunitiesdevelopment
Millennials and Gen Z are in the early to mid-stages of their careers.
new graduates and job seekers might not be aware of the career opportunities that are available in the insurance industry specifically, insur ance agencies are well suited to meet many of the qualifications job seekers are looking for—offering meaningful work, opportunities for career advancement and ways to grow into a competitive salary. In 2021, a survey found 66% of those who quit their job did so because of limited career opportunities.10 And a report on the state of women in inde pendent insurance agencies found that more than half of woman frontline employees under the age of 50 are interested in partnership opportunities.11
The next generation of insurance leaders are forging their paths in the industry, and forward-thinking agency owners are making changes to meet the needs of these younger employees. By investing in human-centered workplace cultures, embracing diversity, hiring for personality and potential—rather than experi ence alone—and investing in employee development, agency leaders can bring in and train the next generation of talent to carry the agency forward into the future. Borer and Clemishaw are leaders in the Liberty Mutual and Safeco Insur ance independent agent distribution organization, serving the Northeast. Borer brings nearly 20 years of expe rience to her role as AVP & region operations manager working across Liberty Mutual business lines and Safeco personal lines, while Clemishaw brings nearly 15 years of industry expe rience and serves as AVP & region director for New England with a focus on business lines. Reach them at
qualification when looking for a job.9 The members of the next generation are investing their time into meaningful work, and they want to know that there is growth and opportunity for advancement where they are putting their Whileenergy.many
robyn.borer@libertymutual.com (bit.ly/3lcserm)ance(bit.ly/3lcserm)ance(bit.ly/3lcserm)ance21respectively.jenna.clemishaw@libertymutual.com,andPewResearchCenter,2020(pewrsr.ch/39vqdUM)LibertyMutualandSafecoInsur2022AgencyGrowthStudy3Zety,2021(bit.ly/3yFzCDp)4Bloomberg,2021(bloom.bg/3yCSbZ9)5LibertyMutualandSafecoInsur2022AgencyGrowthStudy6Zety,2022(bit.ly/3wiadOI)7BusinessWire,2020(bwnews.pr/3weonQW)8Gallup,2022(bit.ly/3a4RxcE)9Zety,2022(bit.ly/3wiadOI)10Zety,2021(bit.ly/3yFzCDp)11LibertyMutualandSafecoInsur2022AgencyGrowthStudy (800) 424-4244 | design.print@pia.org | pia.org/design&print Design+Print PIA Design & Print offers a one-of-a-kind relationship between you, your brand, and our diligent, creative and unique team of hardworking professionals whose top priority is building your business. You are important to us—let us show you! PROFESSIONAL INSURANCE AGENTS MAGAZINE30
To attract and retain the next generation of talent, agency owners need to invest in employees’ career development and show the career paths that are available. When it comes to development, millennial and Gen Z job seekers are looking for one-on-one mentorship or online classes over traditional class room training. By offering these types of development opportunities to your employees, your agency would be fulfilling the demands and needs for the next generation to grow in their insurance careers while establishing a leader ship and perpetuation pipeline. As we move forward into this new era of work, it is time for agency owners to rethink and implement changes in their hiring and talent management prac tices to best position them for future success.
Tim Dean
More than 130 companies and vendors exhibited at this year’s Additionally,conference.six InsurTech companies highlighted their latest offerings that are designed to help agents stream line their processes and provide better customer service to their clients. Conference participants could attend demonstrations from: Ascend, Aureus Analytics, bolt access, LeO, the Endurance Group, and Safari.
Insurance professionals assemble at Annual Conference
What will the future bring?
JAYE CZUPRYNA Editor-in-chief, PIA Magazine
Showcases and networking galore at conference Insurance professionals had an opportunity to discuss the new products and services offered by companies, and they had the chance to catch up with old friends and make new connections during dedicated trade-show time.
During the luncheon on Monday, PIANY President Tim Dean, CIC, CRM, said: “It’s a privilege to serve with each of you. Your dedi cation to this organization provides a continuity of leadership that allows us to work on bold projects, and achieve goals that span multiple administrations. I’m proud to be in your company.
For the first time in three years, some 1,500 insurance professionals from New Jersey and New York gath ered, live and in-person at a new location—the Hard Rock Hotel Casino in Atlantic City—for two-anda-half days for the return of the Annual Conference hosted by PIANJ and PIANY, June 12-14.
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Those insurance professionals looking to grow their rela tionships and industry connections; energize their business acumen; and increase their knowledge found just what they were looking for during this favorite event.
Jammin’ live at the Hard Rock
There were new ventures—from a cannabis insurance panel, to a keynote by renowned global futurist, Jack Uldrich, to InsurTech demonstrations—to time-tested favorites—from the expansive trade show, to the NJYIP Fun Run to benefit Special Olympics New Jersey— everybody who attended the event could find something to benefit their business and clients.
After Dean’s address, Jack Uldrich offered his foresight to help insurance professionals better prepare for what the future may bring. Using trans formative principles of unlearning, he highlighted how people can do away with obsolete knowledge and Whileassumptions.Uldrich focused on technology being the future of the insur ance industry, he said people still will play a vital role in the industry’s future. And, while he doesn’t think that technology will replace people, it will replace those who don’t embrace it. “You will need to leverage these technologies to become an even better trusted adviser than you already are,” he said. Regarding technology, he noted how it’s rare that people invent some thing wildly new, rather they build on existing technology. As he thinks Uldrich
PROFESSIONAL INSURANCE AGENTS MAGAZINE32 Jack
“This is an intense period of change for our industry. Client behaviors and expectations are shifting, and a new generation of customers is entering the insurance market. At the same time, the risk landscape is evolving at a rapid pace. And, there is an overwhelming wealth of technology transforming the industry at an unprecedented rate. Agents must move faster than ever to keep up with innovations and rising customer expectations—all while operating in an increasingly unpredictable risk “It’senvironment.easyto get overwhelmed with this shifting landscape. But as long as we ensure the customer is placed at the heart of every decision we make, we will thrive. No matter how much our industry changes, the role of the independent agent remains relevant and essential. We have an enduring mission of providing financial secu rity and protection for our clients.”
about the future of insurance, he realizes that it’s going to be how people take all the current technology (e.g., AI, cloud computing, block chain), and use them to deliver new types of insurance and products. So, insurance professionals need to start thinking about their industry “Asdifferently.youthink about the future, if your idea or product sounds plausible, I’m here to tell you, your competi tors are already thinking about it. If you want to be one step ahead of them, you have to take your thinking to ideas that sound a little bit unreasonable. If you have the courage to do that—and stay in that discomfort and be a little unorthodox—you will be a little closer to where the future is going to head in the insurance industry.”
New for this year, PIA Northeast took over the Land Shark Bar & Grill for a nighttime beach party. Those who attended were able to put their toes in the sand and enjoy live music from The GoodMan Fiske Band … and dance the night away.
Additionally, Cathy Trischan, CPCU, CIC, CRM, AU, ARM, AAI, CRIS, MLIS, TRIP, taught Certificates of Insurance–Do’s, Don’ts & When to Say No!, and Working From Home–Coverage Issues to Consider on Monday.
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The event featured six education sessions, which were all approved for continuing-education credits.
Finally, John Fear, CPIA, CISR, lead Wild Weather, Wind, Water and Warming = Disasters, and Proceed with Caution … Your Client Purchased a Condo on Monday. He also closed out the conference on Tuesday with E&O and the Future of the Independent Agent Nighttime Beach Party
Education sessions
Moderated by Barbara Winsky, CPCU, AIS, ASLI, ARM, ARe, CRIS, CIW, of Jencap Specialty Insurance Services, New York, N.Y., the panelists for Sunday’s Delving into the Weeds of Cannabis Insurance —Karen Adamsbaum, CIC, of the John Morgan McLachlan Agency Inc., in Somer ville, N.J.; Keith Distel, MBA, of Underwriting Admiral Insurance Group, in Chicago, Ill.; and Erich Schutz of Jencap Specialty Insurance Services, in Mendon, Mass.— discussed cannabis operations from “seed to sale” and the associated insurance coverages needed for this growing industry. They covered the cannabis industry’s history and key definitions, form verbiage, and underwriting risk requirements that are unique to the cannabis industry.
YIP Nitecap
PROFESSIONAL INSURANCE AGENTS MAGAZINE34
The 38-year partnership between PIANJ, NJYIP and the Special Olympics New Jersey continued with the annual Fun Run for Special Olympics. An award breakfast followed, where Special Olympics athletes, runners, and event supporters celebrated.
Czupryna is PIA Magazine’s editor-in-chief.
The top male finishers included Tyler Nickels in first place (24:36); Ethan Tazsby in second place (25:23); and Damon Pesce in third place (25:37). The top female finishers included Rachel Price in first place (26:01); Kendall Rives in second place (32:36); and Laura Castellano in third place (35:45). FMI, a major event sponsor for many years, was the company that raised the most money, contributing more than $63,000 to the Fun Run total. In total, the Fun Run raised $87,332 this year, benefiting Special Olym pics New Jersey. During the awards breakfast Special Athlete Bobby Fred ericks—who ran in the race—talked about his participa tion in Special Olympics. In his personal statement, he said: “Special Olympics has helped build my confidence to try new things. I have learned about healthy living and how to be part of a team—not only on the playing field but also in life. Special Olympics sports programs have given me opportunities to travel to many places to compete in sports and make many new friends along the way. For me, Special Olympics means that people with intellectual disabilities get the chance to participate in competitive sports with our teammates and friends.”
Fun Run for Special Olympics raises over $87,000
The Young Insurance Professionals meet up for a night of great music, dancing, and craft drinks at the Hard Rock Café Backstage. The young minds that are shaping the insurance industry were able hone their skills, build their networks, and perfect their dance moves.
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PIA.ORG 37 As new staff members join your agency, there is a need to provide them with training on such items as your agency system, your procedures, the carriers with which you do business, and the details of the job responsibilities. Obviously, the goal is to get the new staff members up to speed as quickly as possible so they can begin to contribute to your agency’s success. One area that may not get the atten tion it deserves is errors-and-omissions loss prevention. If a new staff member has some insurance experience, it may be assumed that he or she understands the ins and outs of E&O and what is necessary to minimize the potential for E&O claims to occur. Quite honestly, this is a dangerous assumption to make. Just because the employee worked in another agency does not mean that E&O was under stood and valued to the level that your agency does. In addition, if the employee is a rookie in the business, there is a good chance he or she is completely unfamiliar with the concept of E&O—and uneducated on the key issues that drive a strong E&O loss prevention culture. As your agency experiences the anticipated turnover, ensuring that these new hires get the proper E&O education and guidance becomes even more vital. Without question, your firm’s E&O loss prevention culture will be influenced heavily by the level of E&O training these new staff members received upon joining your agency. Items to consider include: Provide an E&O overview. As new employees are brought into your agency, it would be beneficial for you to dedicate some time to the topic of E&O and emphasize that by adhering to various best practices, E&O claims can be avoided. Depending on the size and structure of the agency, consider having each respective department manager (personal lines, commercial lines, benefits, etc.), provide the new staff members with the necessary informa tion. It is suggested to provide new staff members with details of the expected E&O
procedures as it is possible that your agency has different expecta tions than the new employees’ prior Thenemployers.periodically (preferably monthly), meet with new staff members to give them a refresher on E&O overall or possibly specific issues such as documentation, expo sure analysis, managing workloads, etc. While the issue of “document, document, document” has been part of the E&O loss prevention mantra for years, don’t assume your new staff members fully understand the value of a high level of documenta tion. Share your agency’s expecta tions for documentation with the new staff members. Contact your state association or E&O carrier. These organiza tions probably have resources/articles/educational seminars they can provide (some may be for a fee) to get the new employee up to speed. Add an E&O discussion in your agency staff meetings. The more your new staff members hear about E&O loss prevention, the more they will understand it and be committed to the cause. In staff meetings, address issues such as the finer points of specific coverages, or how to handle various inquiries from your customers. Just because the employee worked in another agency does not mean that E&O was understood and valued to the level that your agency does.
CURTIS M. PEARSALL, CPCU, CPIA President, Pearsall Associates Inc.
New hires and your E&O loss prevention culture
For more information contact Warren Richards at (315) 769-9401 cell: (315) 250-7 7 4 4 Richards Insurance Agency LLC FOR SALE $2 million in revenue! Agency has several insurance carriers including Erie Insurance Group. Must be an Erie agent. richardsinsuranceagency.com (800)www.pia.org424-4244resourcecenter@pia.org 12,376 QuickSourcerequests 5,036 tool kit hits 156 MarketBase™requests Solutions YOU NEED PIA membership brings with it a wealth of benefits, including the personal assistance of PIA’s Industry Resource Center. 221117359
Your agency system. Consistency is a key word when dealing with E&O. This means that there is a common way that various procedures are performed within the agency. Even if you hire a new employee who has knowledge of your agency system, it is important to understand that your agency might use the system differently than how the new staff member used the system at his or her previous employer. This is when having a written procedures manual that details the use of the system will play a vital role. Audit the work of the new staff members. Perform some extensive auditing of the new staff members to determine if they are meeting the agency’s expec tations. The quicker any issues are identified, the quicker that further training can be Bottomprovided.line:Dedicate
time early on to provide your new employees with a solid overview of your E&O loss prevention culture. This will play a key role in ensuring a bright future for your agency. Pearsall is president of Pearsall Associates Inc. and special consultant to the Utica National E&O Program. Utica National Insurance Group and Utica National are trade names for Utica Mutual Insurance Company, its affiliates and subsidiaries. Home Office: New Hartford, NY 13413. This informa tion is provided solely as an insur ance risk management tool. Utica Mutual Insurance Company and the other member insurance companies of the Utica National Insurance Group (“Utica National”) are not providing legal advice, or any other professional services. Utica National shall have no liability to any person or entity with respect to any loss or damages alleged to have been caused, directly or indirectly, by the use of the information provided. You are encouraged to consult an attorney or other professional for advice on these issues. © 2022 Utica Mutual Insurance Company
PROFESSIONAL INSURANCE AGENTS MAGAZINE38
inSureChoiceChooseNewYork! Make SureChoice your first choice for competitive, stable and highly rated homeowners and dwelling coverage. • Rated A, Exceptional, by Demotech • Great coverage with many exclusions available • Very competitively priced • Water backup available up to $50,000 • Write 200 feet from the water • Seasonal and secondary homes are available without primary • Trusts are eligible • No age restrictions Visit SageSure.com/BeSure/SureChoice to learn more. Contact us today to enroll and start quoting! OUR NEWEST HIGHLY RATED HO-3 AND DP-3 ARE AVAILABLE NOW Dennis D’Amico Senior Territory Sales Manager Dennis.Damico@SageSure.com516-272-2060 Noah Cohen Territory Sales Manager Noah.Cohen@SageSure.com646-626-4371
PIA’s curated programs for member agencies and brokerages feature carrier selection, flexible coverage, top-notch customer service, and claims assistance when you need it. Get your quote today! (800) 424-4244 | memberservices@pia.org LTDDental/visionMedicalwithReliance Standard Term life with Reliance Standard Let the PIA Members’ Choice group benefits program take care of your agency. Employee Benefits for Insurance Agencies
PCF INSURANCE SERVICES PCFINS.COM - Peter C. Foy, Founder, Chairman and CEO “WE’RE THE BIGGEST BROKER YOU’VE NEVER HEARD OF.” Our Sights are Set on an Incredible Growth Trajectory. As one of the top U.S. insurance brokerage firms, PCF Insurance has leveraged its incredible value proposition to add more than 89 agency partners across the United States in 2021, up from 36 in 2020. As the top two acquirer, PCF Insurance is on track to add more than 100 agencies in 2022 with an entrepreneurial, high-performing mindset to join our collaborative partnership network. At PCF Insurance, we are propelled by people.
50%Bonus2022ScheduleoffeesfornewandfirsttwoRenewals Wholesale 4310 Greeting Card Dealer 7390 Beer/Ale Dealer 7999 Hardware Store 8018 Wholesale Store/NOC 8021 Meat, Fish Dealer-Wholesale 8032 Dry Goods, Clothing, Shoe 8047 Drug Store 8048 Fruit & Vegetables 8111 Plumbers Supplies Dealer-Wholesale Restaurant 9061 Clubs 9071 Full Service Restaurants 9072 Fast Food Restaurants– Including Drivers 9074 Bars & Taverns Social and Health Services 8854 Home Health Care – Prof. Employees 9051 Home Health Care – Non Prof. Employees 8857 Counseling – Social Work – Traveling Oil and Gas Dealer 5193 Oil Burner Installation 8350 Fuel Oil & Gas Dealer 8353 Gas Dealers, LPG & Drivers Retail 2003 Bakeries 7998 Hardware Store 8001 Florist Store 8006 Food/Fruit/Deli/Grocery 8008 Clothing/Shoe/Dry Goods 8013 Jewelry Store 8016 Quick Printing 8017 Retail (Not Classified) 8031 Meat/Fish/Poultry Store 8033 Supermarkets 8039 Department Store 8043 Retail (including Food) 8044 Furniture Store 8046 Auto Accessories 8072 Book/Music Store 8105 Leather Store 8382 Self serve gas w/conv. store Residential Care Facilities 8864 Developmental Organizations 8865 Residential Care Facility 9063 Senior Citizen *Underwritten90589052Hotel/MotelCentersHotelsNOCRestaurantsinHotelsbytheStateInsurance Fund Ask about low DBL rates exclusive to safety group members, underwritten by ShelterPoint Life Insurance Company, Great Neck NY Call Cosmo Preiato at (800)394-7004 ext. 203 Fax: (914)694-6004 e-mail: cosmop@friedlandergroup.com 2500 Westchester Avenue, Suite 400A Purchase, New York 10577 www.friedlandergroup.com Safety and Workers’ Compensation Strategies To Unleash Productivity and Profits Featuring insightful interviews with experts, including Paul O’Neill, the 72nd Secretary of the U.S. Treasury by Adam Friedlander, now on Amazon https://safetyandworkerscomp.com/ Up to 35% New Advance Discounts (first two periods) & 30% Discounts on Group Renewals Fees paid to 560 Brokers Online Video: www.friedlandergroup.com Retailers Retail Group of NY, Workers’ Comp. Safety Group #544* 2020-21 40%** 2019-20 40%* 2018-19 40%* 36% average dividend since inception in 1992 Wholesalers Wholesale Group of NY, Workers’ Comp. Safety Group #551* 2020-21 35%** 2019-20 27.5%* 2018-19 27.5%* 31% average dividend since inception in 1993 Restaurants Restaurant Group of NY, Workers’ Comp. Safety Group #556* 2019-20 35%* 2018-19 35%* 2017-18 35%* 35% average dividend since inception in 1993 Hotels Hotel Group of NY, Workers’ Comp. Safety Group #578* 2019-20 25%* 2018-19 30%* 2017-18 30%* 19% average dividend since inception in 2006 Oil Dealers Oil Dealer Group of NY, Workers’ Comp. Safety Group #582* 2019-20 35%* 2018-19 30%* 2017-18 30%* 19% Average dividend since inception in 2010 Social Services Social and Health Services Group of NY, Workers’ Comp. Safety Group #585* 2019-20 25%* 2018-19 20%* 2017-18 25%* 17% average dividend since inception in 2011 Residential Care Residential Care Group of NY, Workers’ Comp. Safety Group #586* 2020-21 25%* 2019-20 25%* 2018-19 20%* 13% average dividend since inception in 2012 *5% applied to increase the renewal advance discount. **10% applied to increase the renewal advance discount. “We have placed a number of accounts with the Friedlander Group over the past several years and have been impressed with their responsiveness from the point of submission through the issuance of policy documents. They have enabled clients to shave points off their experience modification factor and have provided real time monitoring of reserves to keep them at appropriate levels. Their claims team provides top notch claims services including six-month claims reviews with the client as needed. Our experience has certainly been a positive one with the Friedlander Group as we help our clients navigate the workers compensation landscape.” Stephen R Zogby Executive Vice President Scalzo, Zogby & Wittig, Inc. 120 Lomond Court Utica, NY Real Dividends! $300 Million Paid The Workers’ Compensation Leader
—Bradford J. Lachut, Esq.
Carrier website agency agreements
Q. We are in the process of getting a new employee licensed. This employee has told us that he had a criminal record, but that the record of this offense was expunged. How do we answer the question on the licensing application as to whether this person has a criminal record?
More likely, the acceptance of terms you are prompted to agree to is applicable only to the use of the insurer’s website. This would not affect the terms of your agency agreement. However, while the acceptance on a carrier website would not change the terms of the agency agreement, it could create new responsibilities outside of the agency agreement. For more information, access Agency-
PIA.ORG 43 PIAASKPIA TECHNICAL STAFF Have a question? Ask PIA at Nonlicensedresourcecenter@pia.orgowners,
Agent and broker licensing–sealed criminal records
Nonlicensed agency owner
Q. Often when a carrier updates its website, there appears to be a contract or agreement that we must accept before advancing into the website. By accepting these new terms, am I amending my carrier/agency agreement?
A. Generally, if an offense has been sealed it does not have to be disclosed on a licensing application. New York state does not have a process in which convictions can be expunged, meaning they cannot be completely erased from records. However, New York state does have a process by which some cases can be sealed—meaning that they are kept confidential for most purposes. Sealing a record means that the case is removed from the criminal records available to most employers and Newothers.York
Q. Can an unlicensed business entity buy into an insurance agency? A. Yes. Unlicensed entities may become owners of an insurance agency that is licensed provided the unlicensed entities do not engage in any activities that would require an insurance license and do not receive any share of the However,commissions.theunlicensed entities may share in the profits of the corpora tion, which must be in the form of dividends declared in the usual course of business of the agency. (For more information, see OGC Opinion: Nov. 29, 2006.)
new locations and more
Criminal Procedure Law Section 160.55(1)(c), which applies to noncriminal violations such as traffic infractions and New York Criminal Procedure Law Section 160.55(4), which applies to drug convictions, state that all records relating to the arrest or prosecution are to be sealed and not made available to any person or public or private agency.
While there are exceptions in which some state agencies can view sealed records those exceptions do not apply to the New York State Department of Financial Services. As such, an offense of which the record has been sealed in New York state does not need to be disclosed to the DFS.—Bradford J. Lachut, Esq.
A. I think we have all seen these pages, where you cannot advance to a website before you click the button on the bottom of the page that states: “I have read and agree to these terms ...” or something to that effect.
In most agency agreements, there is a provision requiring that any changes made to the contract must be agreed to by both parties in writing. When the company decides to modify a provision in the existing agency agreement, the company should agree to provide the agent with reasonable written notice before any changes are implemented.
The driver’s homeowners or automobile policies will not provide coverage. The homeowners policy does not cover motor vehicles subject to registration at all and—if not subject to registration—there is only limited coverage for specific off-road vehicles. While the personal auto policy does cover non-owned vehicles for physical damage (assuming at least one scheduled vehicle has Part D coverage), it only does so if these vehicles are “private-passenger vehicles, pickups, vans or trailers.” So, there is no coverage here.—Dan Corbin, CPCU, CIC, LUTC
New locations, operations
Q. Does the ISO commercial general liability policy cover new locations and operations of an insured automatically? Is coverage limited to the classifications shown in the declarations?
A. The ISO commercial general liability policy covers all operations of the named insured. The form provides automatic coverage for new locations and new business activities of the named insured arising after policy inception, provided there was no material misrepresentation when the insured applied for a policy.
Q. Our client, a 21-year-old driver, took a short ride (about a half mile) on his friend’s new motorcycle. He skidded out, fell off the bike (with only minor injuries), and the bike was damaged. The friend with the new bike did not have collision insurance, and the estimate is $8,000 for repairs. Of course, our client is responsible to return the motorcycle to its new condition. Is there any coverage for this cost in our client’s auto or homeowners policy?
—Dan Corbin, CPCU, CIC, LUTC
insurer agreements—information issues for agency principals in the PIA Quick Source library.—Bradford J. Lachut, Esq.
A CGL policy provides the insurer with the right, clearly set forth in the policy, to conduct an audit when the policy expires and charge additional premium, if applicable. The audit process involves a survey of the insured’s actual expo sures during the audit period, as compared with the exposures for which a deposit premium was determined at inception. Naturally, if the insurer discovers an unacceptable new location or operation during the policy period, it may cancel the policy in accordance with policy provisions and be subject to state law governing midterm cancellations.
A. If the operator has a motorcycle policy for his own motorcycle, that policy may cover a non-owned motorcycle. However, since the owner of the motor cycle is not insured, the operator may be paying for the repairs out of pocket.
Federal electronic-driving device rule for truckers
Non-owned motorcycle dilemma
PROFESSIONAL INSURANCE AGENTS MAGAZINE44
Q. Our clients are talking about a new electronic-driving device rule for motor carriers. Can you give us some information on this? A. The Federal Motor Carrier Safety Administration will be enforcing the Electronic Logging Device Rule that was mandated by the Moving Ahead for Progress in the 21st Century Act (P.L. 112-141). It applies to most motor carriers and drivers who are required to keep records of duty status. This includes commercial buses as well as trucks and applies to drivers domiciled in Canada and Mexico. An ELD is technology that automatically records a driver’s driving time and other hours-ofservice data. Since Dec. 16, 2019, all carriers and drivers subject to the rule must use DriversELDs.who are exempt from this rule are those who use paper logs no more than eight days during any 30-day period; drivers of driveawaytowaway vehicles (i.e., transporting a vehicle for sale, lease or repair); and drivers of vehicles manufactured before model-year 2000. For more details, see eld.fmcsa.dot. gov/About.—Dan Corbin, CPCU, CIC, LUTC
BROOKS IS HERE FOR YOU. How can we help you? Call us at 732.972.0600 or email us at info@brooks-ins.com Brooks Insurance Agency | A Venbrook Company • 70 Bridge Plaza Drive, Manalapan, NJ 07726 • 732.972.0600 • www.brooks-ins.com Brooks Group Insurance Agency, LLC | NJ License 1575143 © 2022 Brooks Insurance Agency, LLC is a wholly-owned subsidiary of Venbrook Group, LLC. All Rights Reserved. Brooks is proud to support Professional Insurance Agents (PIA) Since its founding in 1991, Brooks Insurance Agency has successfully serviced the standard markets and brokered distressed and complex lines of business. We are here to help agents find the coverage their clients need. We represent 80+ quality carriers, including several new and exciting markets, across the country. Plus, a broad array of products and services in admitted and non-admitted markets. MARKET STRENGTHS AND EXPERTISE • Broad market reach • High-touch broker specialists • Easy, online quoting process • Collective approach to complex insurance needs
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T hink about the grocery store. Think about your favorite fast-food chain. In search of your favorite products or restaurants, what do you look for? The Heinz logo? Maybe the Golden Arches? When consumers look for insurance, will they look for you?
3 Your logo will set you apart Take a look at logos used by your competition. Choose a logo that stands out when placed with the others. Do you offer something that your competition doesn’t? Are you different than the rest of them? Your logo can be the first to announce that.
1 Establish brand identity A logo is significant to create an identity for the service you are selling. Creating an identity means that you make yourself familiar to your clients, but most importantly, prospective clients. The more familiar prospective clients are with your logo, the more likely they are to choose your service. 2 Grab their attention! Logos have a way of grabbing consumers’ attention because they create a first impression for your business. Whether your logo is simple, creative, or complex, that identifying symbol is the only thing standing between new clients and your services. You want to demand clients’ attention with your logo, and create a positive first impression. This is the first bond you will have with your client.
4 Communication is key Your logo is important for communicating with current and future clients! A lot can be learned from a logo, such as what the business offers that other similar businesses do not offer, but most importantly, a logo can show the personality of the business behind the logo.
5 Finders’ keepers Brand loyalty is one of the most important reasons to have a logo because establishing it means a never-ending client list that continues to expand every day. The more familiar a client is with your logo, and the more positive and inviting first impressions that your logo invokes, the more likely your clients are to stay loyal to your service and recommend it to Logosothers.are the lifeblood of business because they attract consumers, they invoke loyalty, and help you communicate with your clients in a simple, effective way. Don’t fall short of the pack and get lost in a sea of insurance agents. Stand up and show us what you’re made of.
PIA Design & Print offers a collaborative design experience tailored for insurance agencies. Give us a call today.
5 YourtoWhyReasonsYouNeedCareAboutLogo (800) 424-4244 | design.print@pia.org | pia.org/design&print Advertisment
DIRECTORY PIANY 2021-2022
OFFICERS President Tim Dean, CIC, CRM Marshall & Sterling Inc. 110 Main St., Ste. 4 Poughkeepsie, NY 12601-3080 (845) tdean@marshallsterling.com454-0800
Secretary Michael A. Loguercio Jr. Atlantic Agency 619 Roanoke Ave. Riverhead, NY 11901-2727 (631) michael.loguercio@loguercioinsurance.com244-7784
PIA.ORG
NATIONAL DIRECTOR Richard A. Savino, CIC, CPIA Broadfield Group LLC 68 Main Warwick,St.NY 10990-1329 (845) richs@broad986-2211fieldinsurance.com Buccinna
President-elect David L. Sidle, CIC, CPIA David L. Sidle Agency Inc. 219 S. Catherine St. P.O. Box 802 Montour Falls, NY 14865-0802 (607) david@sidleinsurance.com535-6501
XS Brokers 20 Wayland St., #4 Delmar, NY 12054 (518) richard.signorelli@azbybrokerage.com(718)Bronx,1751AZBYRichardjlipton@castlerockagency.com(212)Pearl1CastleJonjeff@atlanticagency.com(631)North1469JSLJeffdavid.lande@epicbrokers.com(516)Hewlett,63ALSRDavidjorge@nfbinsurance.com(516)Hempstead,13NorthJorgeray@firemarkins.com(518)Cobleskill,P.O.826FireRaymondjfries@gafinsurance.com(516)Oceanside,3070GarberJustineric.cohen@benefitquest.com(212)New420BenefitEricpbuccinna@xsbrokers.com567-5645CohenQuestInc./EricCohenInsuranceLexingtonAve.,Room2400York,NY10170-2499389-7838Fries,CIC,CPCU,CPIAAtlasFries&AssociatesInc.LawsonBlvd.NY11572-2711837-1100J.GillisSr.,FIC,FICFMarkInsuranceAgencyInc.E.MainSt.Box39NY12043-0039234-2534HernandezFranklinBrokerageInc.N.FranklinSt.NY11550-3810564-5656Lande,JD,CICAgencyInc.ProspectAve.,Apt.18ANY11557-1648860-7477LeibowitzManagementCorp./AtlanticAgencyInc.DeerParkAve.Babylon,NY11703-1211244-7784Lipton,CICRockCapacityLLCBlueHillPlaza,Fl.12River,NY10965-3104360-2334SignorelliBrokerageInc.CrosbyAve.NY10461-4939828-4505 REPRESENTATIVEPIANY-YIP Ed JencapChadwickSpecialty Insurance Services 295 Main St., Room 866 Buffalo, NY 14203-2412 (800) ed.chadwick@jencapgroup.com333-7226 PAST PRESIDENTSACTIVE Jamie A. Ferris, CIC, AAI, CPIA P.W. Wood & Son Inc. 2333 N. Triphammer Road, Ste. 501 Ithaca, NY 14850-1083 (607) je(516)Lynbrook,P.O.112NGLJeffreylfrank802@gmail.com(716)Williamsville,12Lynnejamie@thewoodoffice.com266-3303R.Frank,CPCUTurnberryCt.NY14221-8206562-3256H.GreenfieldGroupLLCMerrickRoadBox847NY11563-0847599-1100ffg@nglgroup.comFredHolender,CLU,CPCU,ChFC, MSFS Lawley Service Inc. 361 Delaware Ave. Buffalo, NY 14202-1622 (716) aplafker@ga(516)Oceanside,3070AlanJCP2.PIANY@parsonsinsurance.com(315)Syracuse,440ParsonsJohnerik@nicolaysenagency.com(914)Chappaqua,P.O.77NicolaysenErikdavidisenberg60@yahoo.comBloomfield,20Davidfholender@lawleyinsurance.com849-8257IsenbergLoefflerDrive,Apt.420TCT06002NicolaysenIII,CPCUAgencyInc.S.GreeleyAve.Box108NY10514-0108238-4455C.ParsonsII,CIC,AAI.CPIA&AssociatesInc.S.WarrenSt.,Ste.704NY13202-2656472-5420M.Plafker,CPIALawsonBlvd.NY11572-2711837-1150finsurance.comGeneL.Sandy,CICMillenniumAllianceGroup534BroadhollowRoad,Ste.103Melville,NY11747-3673(516)496-8004sandy@mag-insurance.comMichaelJ.Skeele,CIC,CPIASkeeleAgencyInc.1715AlbanySt.P.O.Box459DeRuyter,NY13052-0459(315)852-6180mikeskeele@skeele.comJ.Carlos“Shawn”Viaña7BridleCourtLatham,NY12110-4948(518)785-1173sviana@marshallsterling.com VOLUNTEERSCOMMITTEE Dina Bruno, CPIA Franklin Mutual Insurance Branchville, NJ Paul G. Casciaro, CIC, CSRM, CPIA Frank H. Reis Inc. Kingston, NY Eric T. Clauss E.T. Clauss & Co. Inc. Buffalo, NY Brian Colby BNC Insurance Agency Rye Brook, NY Matthew Davoult Bank Direct Capital Finance Corp. Garden City, NY Jennifer P. DeCristofaro Lancer Management Co. Inc. Long Beach, NY Jennifer MichaelBuffalo,LawleyTylerAllegany,IroquoisMarshallKingston,DeForestDonnellyGroupInc.NYGlassGroupNYMolinaServiceInc.NYN.Plafker,CIC, CPIA Oceanside, NY Leslie C. Rogoff Madison Avenue Brokerage Corp. New York, NY Bruce D. BankStevenLynbrook,GlobalRobertGoshen,F.A.FrancesScotia,RowledgeRowledge&FalvoInsuranceNYA.ScottScottInsuranceAgencyNYShapiroFacilitiesInc.NYSternbergDirectCapitalFinance Corp. Garden City, NY
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Vice President Richard Andrews, LUTCF Andrews Agency Inc. 804 W. State St. Ithaca, NY 14850-3312 (607) rich@andrewsagencyinsurance.com273-7551
Vice President Gary Slavin, CIC, CLTC Massapequa,63MassMutualSunsetRoadNY 11758-7541 (516) gslavin@financialguide.com873-4515
Treasurer Jason E. Bartow, AAI, CPIA Bartow Insurance Agency & Jebb Brokerage Inc. 62 South Second St., Ste. C Deer Park, NY 11729-4716 (631) jason@bartowinsurance.com242-4745
Board of Directors
Vice President Gino A. Orrino, CPIA Orrino Capital Services LLC 95 E. Main St. Babylon, NY 11702-3507 (718) gorrino@orrinocapital.com606-0293
DIRECTORS Peter
Immediate Past President John Tomassi, CPCU Open Coast Surety Agency LLC 140 W. 31st St. New York, NY 10001-3411 (212) johnrtomassi@gmail.com686-1515
PROFESSIONAL INSURANCE AGENTS MAGAZINE50 DIRECTORY Readers’ service and advertising index City/townAddressAgencyName State ZIP Phone Check advertisers of interest, complete form and mail to: PIANY • 25 Chamberlain St. P.O. Box 997 • Glenmont, NY Or,12077-0997.fax(888) 225-6935. 9 Lancer Insurance 2 Lovell Agency Management Co. 12 JENCAP 47 NY-YIP Golf 8 Omaha National 16 Parsons & Associates Inc. 41 PCF Insurance 11 PIA 401(k) 38 PIA Ad Solutions 17 PIA Agents Advocacy Coalition 50 PIA Capital RAP 30, 48 PIA Design & Print 26 Agency Network Exchange 10 Agricultural ManagementInsuranceServices 7 Alpha Northeast BC Applied Underwriters 15 Berkley Luxury Group 51 Berkshire InsuranceHathaway/GuardCompanies 45 Brooks Insurance Agency 42 Friedlander 19 Hamond Safety Management 29 The Hartford 18 PIA E&O Insurance 46 PIA Education 40 PIA Members’ Choice Options 24 PIA Newsletters 13 PIA NumberONE Comp Program 36 Plymouth Rock Assurance 25 The Premins Company 14 Renaissance 38 Richards Agency 39 SageSure 35 SIAA Oct. RAPCAPITAL202225 Capital Center, Albany, N.Y. www.pia.org Save the dateSave the date
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