December 2019 by Professional Insurance Agents of Wisconsin

PROFESSIONAL AGENT December 2019

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5 Myths of Business Strategy..................................16 7

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Marketing Tips.........................................................18 Cross Selling? -or- Properly Protecting Your Clients?............................................................20 7 Reasons to Put Golden Handcuffs on Your Best Employees...............................................22 Education Section.............................................. 24-30 Winter Get-Away.....................................................32 Customer Sales Tips................................................36

PIAW Testimonials "Being a member of the PIAW is a very rewarding experience. You get back much more than you receive. The programs offered by the PIAW are always worthwhile and informative. You can not help but gain knowledge that you can take back to the office with you and use the next day. The events are also very affordable in today’s budget conscious environment. The membership pays for itself many times over." Al "Wally" Breitenfeldt, CIC Past President of PIA of Wisconsin Community Insurance “My involvement with the PIA, particularly in my early years, has been the cornerstone of my professional growth and development. PIA connected me with education, a competitive E&O program and a place to turn to for answers to questions. Most of my strongest industry relationships and mentors came through my involvement in PIA. Thank you PIA!" Dave Fritz, CIC, CPCU Past President of PIA of Wisconsin TRICOR Insurance DECEMBER 19 3

From the

President Sean M. Paterson, CIC — President, PIA of Wisconsin

Goal Setting Reimagined – Part 2 Last month I wrote about SMART goal setting. That is, setting goals that are Specific, Measurable, Attainable, Relevant and Time Bound. I touched on some recommended steps to help achieve those goals, such as writing them down and creating an action plan. The real eye-opener was that, despite setting goals and taking steps to achieve them, the odds are still stacked against you. According to a survey from the University of Scranton 92% of people who set goals do not achieve them leaving only 8% of us that do. As I mentioned last month, throughout my quest for selfimprovement, I have discovered some tips, tricks and techniques to help me achieve my goals. Discovering this unique strategy for implementing goals was an accumulation of knowledge from many successful speakers and authors. A few that were key to my discovery: Napoleon Hill, author of “Think and Grow Rich”; Tom Hopkins, known as America’s #1 Sales Trainer; Tony Robbins, the self-help guru and Weldon Long, New York Times Best Selling author of The Power of Consistency. While they each discuss this strategy in their own way, to me, the one who articulates it the best is Weldon Long. [Quick side note – if you are not familiar with Weldon Long please check him out at WeldonLong.com or search for him on YouTube. His story and message are both powerful and moving. If you ever get a chance to see him speak, please do so. You will be rewarded in ways you cannot imagine.] Having a unique strategy for implementing and achieving goals is what I refer to as “Goal Setting Reimagined.” What if I told you that using this unique strategy could put your goal-achieving success on auto-pilot? Interested to know more? Let’s briefly go back and revisit one of the steps to help us achieve our goals, coming up with an action plan. Traditionally, the action plan was a long list of steps to take daily, weekly and monthly. First do this, then do that, then this and so on. Before you know it, you are overwhelmed by the amount of work it will take to accomplish those goals and you give up. Or maybe you gave up because you weren’t making progress due to the lack of taking any action to begin with. No wonder why only 8% of people accomplish their goals! I personally take a bit of a different approach. It is very simply but yet very powerful. Instead of coming up with a long list of action steps, this is what I do. First, I take the normal step of writing down my goal. Next, instead of writing out a long list of overwhelming steps to take, I write down just 1 or 2 things that, if I do them on a consistent basis, will get me to my goal. 4 DECEMBER 19

For example, here is a sample goal… • I earn $100,000 per year. Here are two simple things that if done on a consistent basis will help me accomplish that goal • I run each appointment with passion and purpose. • I ask for referrals every time Where the real magic happens is in the next step. Once you have your goal written down and the one or two steps identified, you will need to review it on a consistent basis. I review mine on a daily basis. However, rather than just simply reviewing what I wrote down, I get emotionally connected to the outcome of the goal. I envision what my life will look like when I accomplish the goal. How will my life be different after earning $100,000 per year, for example? Will I pay off my mortgage early? If so, how will my life be different without a mortgage payment? Will I take an additional vacation each year? If so, I would imagine where we would go, the activities we’d do and so on. The result of hitting your goal is the part you really need to connect with. Once I am emotionally connected to my goals and their outcomes, that’s it. I simply go about my normal day. It’s really that simple. When I first learned about this technique, I thought to myself, “It can’t be this easy.” Trust me it really is. To understand “why” this method works so well, we have to dig into a little bit of psychology and biology. We know that the human brain works on a conscious and a sub-conscious level. Consciously, we can really only focus on one thing at a time. However, your sub-conscious brain is very powerful and can focus on many different things 24 hours a day, 7 days a week. The key to all of this is to be emotionally connected to the results of accomplishing your goals. In effect, you are programming the right information into your mind and letting your sub-conscious take over while you go about your normal day. At this point, another magical feature of the brain kicks in – the Reticular Activating System. This is the part of the brain

that filters in the information that is important to you and filters out what is not. So while you go about your normal day, your sub-conscious mind and the Reticular Activating System will be constantly working. Your brain is constantly looking for resources, people and opportunities to help you achieve your goals. In essence, you just put the task of achieving your goals on auto-pilot. There it is. My version of goal setting reimagined. I think we all would agree that goal setting is an important process to help us become the best version of ourselves. I believe that we would all

also agree that we donâ&#x20AC;&#x2122;t want to be in the 92% majority of people who do not accomplish the goals we set for ourselves. I hope that some of the information I have shared in my Goal Setting Reimagined article brought a unique perspective on programming your brain to put your goal achieving on auto pilot and hopefully move the needle and bring you over to the 8% minority who do achieve their goals. To Your Success, Sean M. Paterson, CIC

DECEMBER 19 5

Memos from

Madison Pete Hanson, CAE — Executive Director, PIA of Wisconsin

Capitol Update: Public Adjuster Bill Needed While you are tending to your business with clients, PIA of Wisconsin is tending to your business in the Wisconsin Capitol. As PIA members, you have three registered lobbyists working for you. We monitor all the bills and administrative rules that are introduced, looking carefully at all proposals that relate to the insurance and financial services industry. We advocate in favor of proposals that are good for agents and the independent channel and against those that might harm independent agents or the industry as a whole. The 2019-2020 Legislative Session in Madison is nearing its end. Lawmakers plan to meet “in session” only a few more times before adjourning in March. Many people consider the close of a legislative session a good thing. Nineteenth-Century politician Gideon Tucker famously wrote “No man’s life, liberty or property are safe while the legislature is in session.” Sometimes I share that sentiment, but not when there is an important bill that we still need to get passed. The entire insurance industry has lined up behind a bill that would place reasonable restrictions on public adjusters. That bill is Assembly Bill 357. It has strong, bi-partisan support among lawmakers and has already passed the state Assembly. However, we still need to get it through the state Senate. You all know the licensing process for agents. Required training. Ethics. Background check. Rigorous exam. Continuing education. These are regulations intended to protect consumers, but we know that they also protect the reputation of our industry. They ensure a level of knowledge and competence among those giving advice to consumers and weed out unscrupulous persons who might give the industry a black eye.

A “public adjuster” is not an insurance agent, but a public adjuster does advise consumers on significant financial matters. In most cases, tens or even hundreds of thousands of dollars are at stake. A public adjuster is an individual who is hired by a policyholder to negotiate and settle an insurance claim, often following a tornado, hailstorm or other natural disaster. The public adjuster charges the policyholder a percentage of the claim as payment for the public adjuster’s services. The rate they charge can be as high as 30 percent, sometimes leaving the insured without enough money to cover the repairs to their property. PIAW strongly supports the passage of AB 357, which would establish a registration system for public adjusters and regulate the contracts they ask consumers to sign. For claims resulting from natural disasters, public adjusters’ charges would be limited to 10 percent. In other situations, their charges would not be restricted. Forty-five states already regulate public adjusters, making Wisconsin one of the few states where they can operate unrestrained. These regulations are designed to recognize and preserve the legitimate role of public adjusters, while also discouraging bad actors from swooping into Wisconsin following catastrophic weather events. Please take a few minutes to call your state senator and ask him or her to support Assembly Bill 357. It protects consumers and our industry. Even the trade association representing public adjusters – the National Association of Public Adjusters – is supporting this bill. Look up contact information for your senator by entering your home address at the Wisconsin State Legislature website: https://legis.wisconsin.gov/

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From the

Boardroom Lacey Endres, CIC, Director, PIA of Wisconsin

Surviving the Fourth Quarter Every year at our agency, the 4th quarter volume is something we start discussing in July or August, and doesn’t seem to end until after the New Year has been celebrated and is well behind us. While it’s something that we’ve come to know as an annual reality in the insurance industry, as leaders in our organizations we have to make sure that we do everything we can to support our Sales and Service teams during this time. Our goal should always be to help them maneuver through the chaos while keeping a high focus on the number one thing we aim to do – take care of our customers. I want to offer 4 strategies to help us all in our agencies this 4th quarter: Be Proactive: In an ideal world, Commercial Account Managers would start to work on non-automatic renewals 90-120 days prior to the expiration date. In reality, that time frame is often much closer to the renewal date due to everything else that arises and needs immediate attention during each day. However, this takes the focus away from renewals and can unintentionally lead to last minute scrambling. Encourage your teams to be diligent about getting ahead of their renewals. Prepare renewal applications, proposals and client deliverables early, even if they don’t have a renewal quote in hand. This way once the quotes are received, the service team can quickly plug the information into the proposals and get them out the door rather than waiting to begin the process once those quotes are obtained. I’m a big believer in the idea of controlling what you can control, and working proactively ahead of renewals is one way to do this. Communicate With Clarity: When people get really busy they can become overly focused on their own responsibilities and work in a “head down” capacity. This is often when communication starts to break down and can create issues like duplicating efforts, or making assumptions about who might be taking care of a specific task. Encourage your team to be overly communicative during these busy times, making sure to confirm who is taking care of client needs and assigning team responsibilities. Another important item to confirm are the dates that the clients will be available to meet and review their renewal information. During the 4th quarter there are a lot of holidays and family vacations, so it is important to get these meetings on the calendar sooner rather than later. This will help ensure that the sales and service team can provide accurate need by dates to their carrier partners for their quotes and work towards those deadlines. Communication will also

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be imperative for your team members who will be taking vacation themselves, so they can deliver on their promises to the client. Coach on Delegation: One thing I observe is that we often do not coach or help our teams with the skill of delegation. We often assume people are naturally good at this, and I believe it is an area most people need help with. Work to reinforce to your team that asking for help is actually a sign of strength! Knowing that this isn’t always easy, it is the job of the leader in busier times to keep a closer eye on how people are managing this, and if necessary, step in and actively help by modeling how best to do this. Focus on Recognition and Having Fun: When you are grinding and putting in extra time and effort, nothing feels better than when someone recognizes you for that work. Saying “thank you” really goes a long way. It’s helpful to know whether the person you want to recognize prefers public or private commendations. At our agency, we have the ability to provide a public “shout out” on our intranet, where all employees can view the notice. We can also make the announcement private so just the recognized employee can see it. Acknowledging efforts of going above and beyond goes a long way to make those who are putting in the extra effort, especially during the 4th quarter, feel like they’re making a difference and it is noticed and appreciated. Another suggestion is to incorporate a weekly drawing during the 4th quarter where each employee’s name is entered to win company apparel, a local gift card or an extra day of PTO. Anything that highlights the fact that it’s a busy time, the efforts being made are appreciated, and the leadership team recognizes this, are all beneficial. When in doubt, remember that food often helps! When people are busy and not able to take as long of a lunch break as they normally would, bringing in snacks and beverages to recognize the busy times is also often welcomed. My hope for all of us as we maneuver through 4th quarter this year is that we can be proactive, communicate with clarity, coach on delegation and focus on recognition and having fun. If we can do that, we show that we are focused on creating an environment where employees can be at their best each day. Here’s to a successful 4th quarter to you all!

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OCI Administrative

Actions Mark V. Afable - Commissioner of the Office of Insurance

Madison, WIâ&#x20AC;&#x201D;OCI has taken the following administrative actions. In many of these cases the respondent denied the allegations but consented to the action taken. Any forfeitures paid in these administrative actions are deposited in the Common School Fund which is administered by the Board of Commissioners of Public Lands. The earnings from this fund are distributed to all public K-12 schools in Wisconsin and are used by school libraries to purchase books. Copies of the administrative action orders may be viewed online at https://ociaccess.oci.wi.gov/OrderInfo/OrdInfo.oci. OCI is responsible for overseeing the operations and marketing of insurance companies and agents in Wisconsin. OCI encourages anyone with a question or a complaint regarding an insurance company or agent to contact the office at this toll-free telephone number: 1-800-236-8517.

Allegations and Actions Against Agents Mark Banks II, 7643 W. Clovernook St., Milwaukee, WI 53223, had his application for an insurance license denied. This action was taken based on allegations of owing delinquent child support, providing untrue information on a licensing application, and failing to timely respond to inquiries from OCI. Adrian R. Bernal, 7302 Chenal Pt., San Antonio, TX 78240, had his application for an insurance license denied. This action was taken based on allegations of failing to disclose criminal convictions and providing misleading and inaccurate information on a licensing application. Sharon Davis, c/o 7349 IBM Dr., Ste. 103, Charlotte, NC 28262, had her application for an insurance license denied. This action was taken based on allegations of having a criminal conviction that may be substantially related to insurance marketing type conduct and providing misleading information on a licensing application. Aaron F. Dixon, 3625 London Rd., Eau Claire, WI 54701, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Robin Griffin, 980 21st St. SW, Naples, FL 34117, had his application for an insurance license denied. This action was taken based on allegations of being named in a lawsuit that contains allegations of misrepresentation and fraud. Martha R. Henderson, 41 Park Heights Ct., Apt. 1, Madison, WI 53711, had her insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Thany Her, 10324 W. Rae Ave., Milwaukee, WI 53225, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes.

10 DECEMBER 19

Cody Hess, 400 East St., Merrill, WI 54452, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Akhmim M. Jones, 4854 N. Latitude Ln., Unit B, Appleton, WI 54913, agreed to the issuance of a conditional insurance license requiring compliance with an order for payment of child support arrears. This action was taken based on allegations of owing delinquent child support. Laura A. Kiley, 810 Old Tower Rd., Oconomowoc, WI 53066, had her insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Amrit P. Lal, 3785 Richland Pkwy., Brookfield, WI 53045, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Shawn A. Lansing, 5946 River Rd., Waunakee, WI 53597, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Margarita Limon, 3543 S 16th St., Milwaukee, WI 53221, had her insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Lekeisha C. Paige, 11591 Coral Ridge Ave., Jacksonville, FL 32218, had her application for an insurance license denied. This action was taken based on allegations of having a criminal conviction that may be substantially related to insurance marketing type conduct, failing to disclose an employment termination for cause and an administrative action taken by the State of Florida on a licensing application, and having unpaid civil money judgments and court costs. Lekeisha C. Paige, 11591 Coral Ridge Ave., Jacksonville, FL 32218, had her application for an insurance license denied. This action was taken based on allegations of having a criminal conviction that may be substantially related to insurance

marketing type conduct, having unpaid civil money judgments and court costs, having an administrative action taken by the State of Florida, and failing to disclose an employment termination for cause on a licensing application. Glenn R. Paterson, 211 Elderberry Dr., Goleta, CA 93117, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes. Amy Powell, 1115 W. Beckert Rd., Unit D4, Appleton, WI 54961, had her application for an insurance license denied. This action was taken based on allegations of having a criminal conviction that may be substantially related to insurance marketing type conduct, failing to apply for and obtain a federal crime waiver, and failing to provide information required to complete a licensing application. Carl Reed IV, 32012 N Marginal Rd., Apt. 272, Willowick, OH 44095, was ordered to pay a forfeiture of $500.00 and was ordered to provide information to OCI. This action was taken based on allegations of failing to timely respond to OCI inquiries. Thomas A. Roule, Sr., 9 Stirrup Cup Ct., St. Charles, IL 60174, had his application for an insurance license denied. This action was taken based on allegations of failing to disclose an administrative action taken by the State of Illinois and failing to provide documentation required to complete a licensing application. Barry M. Rumpel, W833 Culpitt Rd, Bangor, WI 54614, had his insurance license revoked and was ordered to pay consumer restitution of $298,372.74 and forfeitures of $202,340.78. These actions were taken based on allegations of taking loans from an insurance client, making unsuitable life insurance and annuity sales, and misrepresenting information on insurance applications. See the separate press release at https://oci.wi.gov/Pages/ PressReleases/20191113Rumpel.aspx.

Marcus A. Smith, 4608 Twisted Oaks Rd., Apt. 106, Charlotte NC 28212, had his application for an insurance license denied. This action was taken based on allegations of failing to disclose criminal convictions on a licensing application, having criminal convictions that may be substantially related to insurance marketing type conduct, and failing to respond promptly to inquiries from OCI. Nicole Stafford, 1216 Teakwood Pl., Raleigh, NC 27606, had her application for an insurance license denied. This action was taken based on allegations of having a criminal conviction that may be substantially related to insurance marketing type conduct and failing to provide required application documentation. David F. Valencia, 2540 Gaslight Ct., Oshkosh, WI 54904, had his application for an insurance license denied for 60 days. This action was taken based on allegations of failing to disclose an administrative action taken by FINRA on a licensing application. Brian H. Wolff, 1200 Kellogg St., Green Bay, WI 54303, had his insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes.

Allegations and Actions Against Companies Donegan Insurance Agency, Inc., P.O. Box 550, Seguin, TX 78156, had its application for an insurance license denied. This action was taken based on allegations of failing to disclose administrative actions on a licensing application. IDS Property Casualty Insurance Company, 3500 Packerland Dr., De Pere, WI 54115, agreed to pay a forfeiture of $10,000.00. This action was taken based on allegations of issuing improper nonrenewal notices. Investment Professionals, Inc., 16414 San Pedro Ave., Ste. 300, San Antonio, TX 78232, had its insurance license revoked. This action was taken based on allegations of owing delinquent Wisconsin taxes.

Tracy D. Sims, 2763 Bent Willow Cir., Apt. B, Orlando, FL 32808, had her application for an insurance license denied. This action was taken based on allegations of failing to disclose a criminal conviction on a licensing application, having a criminal conviction Ohio National Life Insurance Company, One Financial Way, that may be substantially related to insurance marketing type conduct, and failing to disclose an administrative action taken by the Cincinnati, OH 45242, was ordered to pay consumer restitution of $6,626.00. This action was taken based on the sale of an unsuitable State of Florida on a licensing application. insurance product made by one of its appointed insurance intermediaries.

DECEMBER 19 11

Question: If our company closes due to inclement weather, are we required to pay employees? Can we require PTO use? Answer from Kelley, PHR: The answer depends on whether the employees are exempt or non-exempt under the Fair Labor Standards Act. Exempt employees must still be paid when you close due to inclement weather. Non-exempt employees, however, only need to be paid for actual hours worked, plus any reporting time pay that may be required by state law. If nonexempt employees are contacted by the employer prior to reporting to work, no pay is due for the day. That said, you should also be consistent with your own policy and practice. If you have been paying all employees— regardless of their employment classification—for hours they would have worked had you not closed for bad weather, then you should continue to do so. If you would like to end that practice, we recommend creating a clear written policy and distributing it to all employees prior to implementation. Many employees like the option of using accrued paid time off or vacation when there is an unexpected closure. This is something you can allow, but if your office has closed for weather in the past and you have not required employees to use paid time off or vacation, it would be risky to take up that practice now without giving them a heads up. When it comes to accrued paid time off or vacation, it is safest to give employees advance notice if there are situations where you will use their accrued hours whether they like it or not. Whether you allow or require the use of accrued hours in these circumstances, it’s best to describe your practice in a written policy and ensure employees have a clear understanding of what to expect.

Question: What are some best practices for conducting terminations? Answer from Marisa, SPHR: While all terminations carry some inherent risk, there are some best practices that can reduce risk significantly: Documentation Good, ongoing documentation is your best defense to any challenge, whether from the employee in the termination meeting, the state unemployment insurance department, the labor department, or opposing counsel in court. Be sure to document behavior and performance issues when they happen, conversations you have, disciplinary actions you take, and warnings to the employee about the consequences if they fail to improve. While there is no exact amount of documentation that will eliminate risk, more is generally better. We recommend that you have enough documentation to show a pattern, as well as your good faith effort to help the employee improve. Not relying on at-will employment status Employers (particularly when short on documentation) often rely on the concept of at-will employment, which means that employees can be terminated at any time, with or without notice, and with or without cause. However, there are many exceptions to employment at-will, such as when the termination is unlawful (related to the employee's disability, race, sex, national origin, religion, age, or other protected characteristic, or when it is retaliatory because they exercised some right). If you don't tell an employee why they are being terminated, they will likely come to their own conclusions, and those conclusions may lead them to call an attorney. Employers should also consider how similar performance or behavior issues have been dealt with in the past, since the different treatment of employees can lead to discrimination claims, regardless of at-will employment status. Timeliness Terminations should come as quickly as possible following the performance or behavioral issue that was the "final straw." Taking prompt action reduces the likelihood that the decision will appear arbitrary to a third party and limit the opportunity for the employee to do something that would make the termination appear retaliatory. For example, if you decide to terminate an employee for fudging their time card one too many times, but wait three weeks because it's the busy season, in that three weeks the employee might request FMLA leave, make a harassment complaint about a manager, or disclose that they have a disability. Your motive for termination would then appear suspect, even if that is not your intention.

12 DECEMBER 19

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DECEMBER 19 15

By: Rich Horwath

The 5 Myths of Business Strategy Consider some of the most popular myths: Lightning never strikes the same place twice—it does. There is no gravity in space—there is, just less. Humans only use 10% of their brains—actually, a lot more—yes, even men. Pigeons blow up if fed uncooked rice—they don’t. Which myths or half-truths have permeated your organization and what effect have they had on your business? Running a business on myths, flawed business principles, and baseless assumptions creates needless confusion and a lack of strategic direction. A study of 10,000 senior executives showed that the most important leadership behavior critical to company success is strategic thinking at 97 percent. As good strategy is at the core of any organization’s success, it’s important to understand the strategy myths that may be holding back your team from reaching greater levels of success. Strategy Myth #1: Strategy comes from somebody else. “We get our strategy from the brand team/upper management.” This is a common refrain when managers in other functional areas are asked who develops strategy. It’s also wrong. The strategy that you execute should be your own strategy. Why? Because each group’s resources are going to be different. For instance, the sales team has different resources—time, talent, and budget—than the marketing team or the IT team or the HR team. How they allocate those resources determines their real-world strategy. It’s important to understand company, product and other functional group strategies to ensure that your strategies are in alignment. However, their strategies are not a replacement for your strategies. Myth Buster: Identify the corporate strategies, product strategies, functional group strategies and your strategies and seek alignment. Strategy Myth #2: Strategy is a once-a-year process. In a recent webinar presented to more than 300 CEOs entitled, “Is Your Organization Strategic?,” the question was posed: “How often do you and your team meet to update your strategies?” The percentage of CEOs that meet with their teams to assess and 16 DECEMBER 19

calibrate strategies more frequently than four times a year is only 16.9 percent, with nearly 50 percent saying once-a-year or “we don’t meet at all to discuss strategy.” A study of more than 200 large companies showed that the number one driver of revenue growth is the reallocation of resources throughout the year from underperforming areas to areas with greater potential. Strategy is the primary vehicle for making these vital resource reallocation decisions, but as the survey showed, most leaders aren’t putting themselves or their teams in a position to succeed. If strategy in your organization is an annual event, you will not achieve sustained success. Myth Buster: Conduct a monthly strategy tune-up where groups at all levels meet for 1-2 hours to review and calibrate their strategies. Strategy Myth #3: Execution of strategy is more important than the strategy itself. A landmark 25-year study of 750 bankruptcies showed that the number one cause of bankruptcy was flawed strategy, not poor execution. You can have the most skilled driver and highest performance Ferrari in the world (great execution) but if you’re driving that Ferrari on a road headed over a cliff (poor strategic direction)—you’re finished. A sure sign of a needlessly myopic view is that everything is an “either or,” rather than allowing for “and.” Strategy and execution are both important, but make no mistake that all great businesses begin with an insightful strategy. Myth Buster: Take time to create differentiated strategy built on insights that lead to unique customer value and then shape an execution plan that includes roles, responsibilities, communication vehicles, time frames and metrics.

Strategy Myth #4: Strategy is about being better than the competition. Your products and services are not better than your competitors. Why? Because “better” is subjective. Is blueberry pie better than banana cream pie? It depends who you ask. “Is our product better than the competitor’s product?” is the wrong question. The real question is, “How is our product different than the competitor’s product in ways that customers value?”

Misusing business terms on a regular basis is like a physicist randomly interchanging element’s chemical structures from the Periodic Table. You can say that the chemical structure of hydrogen is the chemical structure for gold, but that doesn’t mean it’s correct. Starting with an inexact statement of strategy will derail all of the other aspects of your planning and turn your business into the equivalent of the grammar school volcano science project with reddyed vinegar and too much baking soda.

Attempting to be better than the competition leads to a race of “best practices,” which results in competitive convergence. Doing the same things in the same ways as competitors, only trying to do them a little faster or better, blurs the line of value between your company and competitors. Remember that competitive advantage is defined as “providing superior value to customers”—it’s not “beating the competition by being better.”

Myth Buster: Clearly distinguish your goals, strategies, mission and vision from one another.

Myth Buster: Identify your differentiated value to specific customer groups by writing out your value proposition in one sentence. Strategy Myth #5: Strategy is the same as mission, vision, or goals. Since strategy is an abstract concept, it is often interchanged with the terms vision, mission and goals. How many times have you seen or heard a strategy that is “to be #1,” “to be the market leader,” or “to become the premier provider of...?” Mission is your current purpose and vision is your future purpose, or aspirational end game. Goals are what you are trying to achieve and strategy is how you will allocate resources to achieve your goals.

If left unchecked, strategy myths can cause you and your business to fail. A 10-year study of 103 companies showed that the number one cause of business failure is bad strategy. Arm your team with the strategy myth busters and your business will soar higher than a pigeon with a belly full of uncooked rice. ABOUT THE AUTHOR: Rich Horwath is a New York Times bestselling author on strategy, including his most recent book, StrategyMan vs. The Anti-Strategy Squad: Using Strategic Thinking to Defeat Bad Strategy and Save Your Plan. As CEO of the Strategic Thinking Institute, he has helped more than 100,000 managers develop their strategy skills through live workshops and virtual training programs. Rich is a strategy facilitator, keynote speaker, and creator of more than 200 resources on strategic thinking. To sign up for the free monthly newsletter Strategic Thinker, visit: www.StrategySkills.com.

There when it matters most. with

Commercial Insurance When it comes to the independent agency system, Donegal is all in! Donegal remains 100% committed to using the independent agency system exclusively to sell our products. As an independent agency we realize you have lots of choices when it comes to recommending commercial and personal insurance coverage options for your clients. That’s why Donegal delivers competitively priced insurance products and outstanding claims service. In addition, agencies appreciate our timely underwriting and superior technology that makes quoting and issuing Donegal policies easy. Plus, Donegal’s total compensation package is recognized as one of the best in the industry. A 100% commitment to the independent agency system, another way Donegal is “There When It Matters Most” for independent insurance agencies. To learn more visit DonegalGroup.com or call Connie Jones at 800-242-7698 ext. 2800

DonegalGroup.com DECEMBER 19 17

It’s All About

Grabbing Attention In an experiment, psychology professor Daniel Willingham at the University of Virginia says that the participants were shown four photos, each with a cash prize and were asked to choose one. Then, the photos were repeated until they selected the one with the best payout. But when “a novel photo popped up,” they chose it more frequently than the odds would dictate. Dr. Willingham points out in an NYT article on curiosity that along with animals, humans “will forgo a known payoff to investigate the unknown.” If you don’t believe it, how often have you jumped on the Internet to research something and 30 minutes later found yourself pursuing a series of other subjects that made you curious? To grab our attention, the fashion industry changes clothing styles constantly and the auto industry makes annual tweaks to their vehicles, while the home décor and improvement folks make a fetish out of change. A new medication is promoted on TV and millions of eyeballs are on it. Takeaway: It’s the new and different that gets attention. New ideas, products and services, change of colors and logo designs, and even new business cards. A revised newsletter masthead and layout or an updated website design. Do something to create curiosity.

It’s Time to Take Charge of Your Marketing The virtual collapse of the traditional print media struck a near death blow to public relations agencies. Even with radio and TV, print was a force driving much of marketing. It was the crutch everyone leaned on to deliver client messages. Now, it’s all-but-gone, including hundreds of local and regional business pubs. Sure, there are weeklies and some dailies. But ad revenues continue their downhill spiral. With higher costs, cut-to-the-bone staffs, and less space, they’re fighting to stay alive. Some turn to monetizing “news” with “pay-to-play.” Even worse, hucksters are baiting businesses with the promise of giving them what they want to hear—results! But as a computer consultant said after committing dollars to a Facebook ad campaign, “We got zilch.” He’s not alone. And he doesn’t know what to try next. Frankly, neither does anyone else. The picture is bleak, leaving companies not knowing which way to turn to market themselves. Yet, a hopeful trend is emerging: more companies are bringing their marketing in house. “At least we can’t do any worse than those we were paying to do it for us,” appears be the message. Taking marketing in-house makes sense if it’s done correctly. Here's how to make it happen: • • • • • •

Start with the premise that marketing is a company's responsibility. Select a hands-on marketing person to lead the effort, someone who can stand up to a boss who wants to play marketing expert, and vendors with all the right answers. Develop fact-based and doable marketing plans with a budget and staff (depending on the size of the company) to support it. Choose competent outside assistance that stands behind what they’re selling to help implement tactics. Focus on gathering and analyzing data to drive a closer engagement with customers and prospects. Let uncertainty, doubt, and questioning drive marketing efforts.

Takeaway: In-house marketing is an opportunity to make everyone in a company and its customers marketing stakeholders. But there are dangers; marketers must be strong, persuasive, and collaborative to succeed.

The main lead nurturing tool. Yes, it’s email. Thanks to MarketingDaily’s Ray Schultz for pointing a study email’s role in lead nurturing. B2B Content Marketing 2020 was conducted by the Content Marketing Institute and MarketingProfs, two reliable organizations. When it comes to nurturing leads, the study found that email newsletters rank #1 with 31% of content marketers, followed by blog posts/ short articles with 13%, and 9% each for in-person events and case studies. This is a further indication of the importance of repetition in the lead cultivation process. You want to be there when prospects want to know more or are ready to buy. Content-driven e-newsletters are an effective tool because they offer perceived value. Takeaway: Let’s be clear, newsletters aren’t product sheets, thinly-veiled ads, or sales pitches. To deserve readership, they must provide helpful information. 18 DECEMBER 19

B2B Study [ Source: GrahamComm Newsletter ]

Acuity loves you!

We are proud of the relationships we have built with the best independent agents in the world!

www.acuity.com

CROSS-SELLING? Agency Consulting Group, Inc. - OR PROPERLY PROTECTING YOUR CLIENTS? By: Al Diamond

Have you ever escaped McDonalds without being asked of you wanted fries or a drink? Why do you think they do that? Perhaps they're concerned with their patron's nutritional needs? More likely, management realized that they can make more money by helping their customers identify additional needs and then satisfying them. Do your prospects and customers have additional needs that you could be satisfying? Are you frustrated that your staff does not identify or try to satisfy those needs often enough? Have you asked yourself if your E&O will protect you if you have NOT properly offered your clients the right products (that you already have available through your agency) to protect their assets? ARE YOU AN ORDER TAKER OR THEIR INSURANCE ADVISOR?? If you claim to be a professional insurance agency, advising customers regarding their asset protection needs then every member of your staff must be trained to do so as a core part of their jobs. We want cross-selling because the client would be better off with coordinated insurance programs than with a series of individual policies that might have different minimum or underlying limits and may not coordinate. Gaps may occur that could be filled if they had 20

DECEMBER 19

one agent for all their insurance needs. These are the roles of the insurance advisor as opposed to an anonymous phone call quoting and writing a single low-cost insurance product. We know that McDonalds does not have the most motivated work force in the industry. Most of their employees are teens first entering the job market. Then how can they effectively out cross-sell your team of experienced insurance pros? The answer is in the level of management commitment exercised at McDonalds compared to most insurance businesses. At McDonalds, if the manager does not train and manage his staff to cross-sell, he or she is replaced. Any employee who feels that "selling" other products is not an integral part of his service job is permitted to "career-adjust" elsewhere. How often have we heard service employees state that they feel uncomfortable offering other products to customers? That cross selling is like sales, you might get rejected by the customer? That they are too busy with computer input and paperwork to offer customer other products? How do you react to this? With a shrug, feeling that you need more clerical helps? And how often, after you get more help, do you find

that the paperwork expanded to fully occupy the new employee's time, leaving no "spare" time to cross sell? Now a few answers - simple to state, but difficult to implement. If you do implement them, however, you will begin to mine the gold in your files. 1. Make cross selling an integral part of the service as well as sales job descriptions. Give it a level of evaluation importance equal or greater than any other job function. Explain to your employees, once and for all, that we do not "sell" anything - which our job is to protect our client's assets. And that means ALL OF THEIR ASSETS, not just their automobile exposure. 2. Require cross selling reports indicating the number of customer contacts experienced, how many were approached with cross selling opportunities and their results. Use the results of the reports to reward successful employees and to counsel and retrain unsuccessful cross sellers. 3. Make it clear - and follow through on your commitment - that anyone who can't or won't offer cross selling opportunities to clients that only have one or a few coverages will have to be replaced.

For Instance: • Provide Homeowners to Auto customers and vice versa • Provide life to personal lines customers who have multiple policies already. • Sell personal lines to commercial lines customers. • Sell personal lines to employees of commercial lines customers. • Sell Umbrella Policies (the most undersold coverage we have) to everyone who has assets at risk. Just like McDonald's, you must help the customer identify his or her other insurance or financial service needs. If you do so as successfully as McDonalds you can make a great deal more money without adding a great many more customers.

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By: Patrick Ungashick 7 Reasons to Put Golden Handcuffs on Your Best Employees High-performing employees are often the most valuable asset in most companies. Customers, products, technology, inventory, and many other assets come and go. A company that cannot hold onto its best employees, however, likely cannot grow. Yet ironically, few companies take any formal steps to minimize the risk of losing top employees. Sure, you pay your best employees well, and presumably have a great culture and work environment. But your competitors can offer the same incentives. To truly hold onto your best people, consider tying them to your company with handcuffs made of gold. “Golden handcuffs” is a generic term describing a wide range of programs that share one core purpose—to incentivize top employees to stay with your company for the long term. There are many types of programs: incentive compensation plans, stock options, phantom stock, stock appreciation rights, synthetic equity programs, share bonus plans, and more. Making things even more confusing, each of these types of programs have variations in their design and operation. This complexity makes it difficult to approach these programs and select a plan design that best fits the situation. However, learning about golden handcuffs programs is worth the effort. They offer a unique combination of advantages and benefits that can help your company reduce risk, propel growth, and maximize value at exit. Companies that design and implement effective golden handcuff plans can accomplish the following seven important outcomes: 22

DECEMBER 19

1. Reduce risk that top employees leave prematurely or unexpectedly. Golden handcuff plans accomplish this by offering a future compensation payout that is partially or completely forfeit if the employee should terminate employment prior to an agreed-upon date (such as retirement age) or an event (such as the sale of the company). To create the desired impact, the potential compensation amount must be significant—typically several times the employee’s current annual income or more. 2. Incent top employees to help create long-term, sustained company growth. The potential for a future compensation payout orients the employee towards achieving the company’s business goals, especially if the payout amount is tied to long-term company growth. 3. Create incentives for top job candidates to join your company. A golden handcuffs program offered to a desired recruit—in addition to competitive pay and compelling career opportunities—can be the tipping point that convinces that important hire to join your organization. 4. Protect the company against the risk of losing customers, other employees, or trade secrets should an employee who has those relationships and information

leave. Golden handcuff plans should include a legal agreement which commonly includes provisions such as non-compete, non-solicitation, and non-disclosure language wherever possible. 5. Provide a way for business owners to create alignment with non-owner top employees around creating business value prior to exit. Many business owners are understandably concerned about discussing their future exit plans with their top employees who don’t have an equity stake in the company. In those situations, the owner’s future exit is a potential wealth-building event for him or her, but it presents career uncertainty and risk to the non-owner employee. Golden handcuffs plans build a bridge between owner and non-owner top employees, by including those employees in a wealth creation opportunity at exit and providing for their career stability. 6. Enhance business value at company exit, particularly upon sale of the business. Your future business buyer will often see greater value in your company if a golden handcuffs plan has been effectively implemented, particularly when the plan includes “stay bonuses” which incent top employees to stay with the company after a sale, typically for one to two years. 7. Thank top employees for their service with the company. Most business owners want to thank high performing employees after they have given years of effective service to the organization. While golden handcuffs plans are primarily intended to incent and reward top employees, they can provide double-duty by also providing lucrative compensation awards in the future to the very same people you likely will want to acknowledge.

Many business owners and advisors assume that a golden handcuffs plan requires sharing actual ownership interest with the employees who will be included in the plan. This not always true. Some programs such as stock options plans include the potential for actual ownership sharing. Other plan types such as phantom stock or executive bonus plans involve compensation and do not share actual equity. Sharing ownership with employees presents significant risks and downsides. Whenever possible, consider a golden handcuffs plan that pays out compensation to the employee rather than shares actual company equity. Business owners and leaders need effective tools to motivate top employees, retain them for the long term, and drive company growth. Few tools have the potential to address all of these needs simultaneously like a well-designed golden handcuffs program. A little research here can go a long way to securing a bright future for your employees and your company. ABOUT THE AUTHOR: Patrick Ungashick is the CEO of NAVIX Consultants, a celebrated speaker on executive and business owner exit planning, and the author of A Tale of Two Owners: Achieving Exit Success Between Business Co-Owners. With his wealth of knowledge on exit planning, Patrick has provided exit advice and solutions to business owners and leaders for nearly thirty years. For more information on Patrick Ungashick please visit: www.NAVIXConsultants.com.

Solving Problems Makes Us Attorneys; Anticipating Them, Makes Us a Partner. Our attorneys have extensive experience in the unique legal needs of insurance agencies. We have represented hundreds of agencies, agents and brokers in all aspects of their business. Agency Ownership & Operations • CSR & Producer Employment • Appearances Before OCI • Drafting Contracts • Mergers & Acquisitions • Perpetuation & Succession • E&O Consultations

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DECEMBER 19 23

education 24

DECEMBER 19

Education, no one can take it away from you. “Education, no one can take it away from you,” are words of wisdom I learned from my Grandma when I was growing up. Our family grew up on the “home dairy farm,” my Grandma lived with us through my grade school years. I felt very blessed to be able to spend a lot of time with her in my formative years. She taught me many things, she believed in education and the importance to learn whatever you can as it will stay with you the rest of your life. Along my career path I have always kept her words in the back of my mind and have embraced all the opportunities especially with Professional Insurance Agents of Wisconsin to learn from the variety of educational offerings. The beginning of my insurance education started with some basic courses with my first designation being the Accredited Advisor in Insurance (AAI). From there I went on to obtain my Certified Insurance Counselor (CIC) designation (nearly 20 years ago) and most recently the Certified Professional Insurance Agent (CPIA). In addition to obtaining my designations I participated and attended many additional classes that have enhanced my knowledge on specific topics such as employment practices and cyber, as the need for these coverages have become so important for our clients and prospects. It is of utmost importance to be able to educate our customers on the constant changes in the insurance world.

no longer pertinent; laws have changed, the tests needed to change as well. Without my prior experience and the educational background that I have invested in, especially with Professional Insurance Agents of Wisconsin, this opportunity would not be possible.

education

Education Committee Spotlight

Just recently I was asked to participate in a project with the Department of Workforce Development to rewrite the curriculum used by the Youth Apprentice Program offered to many school districts across the State of Wisconsin. One of the career paths students may participate in is Insurance. As our industry has changed over the years with technology, procedures and workflows it is imperative the Youth Apprentice Program be updated. The goal of the Youth Apprentice Program is to give students a great learning experience and get them interested in an insurance career. My thirst for education continues every day for my personal enrichment and also to share with others to help them and our industry thrive. Thank you Grandma. Sandy Hardrath, CIC, IIA, AAI, CPIA Branch Manager Ansay & Associates 920-370-4283 / Sandy.Hardrath@ansay.com

Education has also allowed me to be involved in some interesting projects, that I have been a part of; one of them has been the updating and rewriting of the insurance license exam. For the past two years I have been asked and volunteered to spend two days each summer to assist in reviewing the property and casualty exams that are given to applicants obtaining their insurance license. It has been an interesting process as some of the questions asked are

Since 1878

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Proudly providing all of Wisconsin with prompt, personal service.

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Homeowners • Farmowners • Commercial • Rental Properties • Seasonal Properties • Umbrella DECEMBER 19 25

education

WHY CIC?

Sharpen your skills with a CIC designation.

Become the expert your clients, agency, and career depend on.

Impact Credibility Respect

WHERE EXPERTS BECOME EXPERTS

UTICA

Gives You the Credit You Deserve! The following PIAW education classes are approved for the Utica premium credit. • Any CIC Update • CIC Agency Management • CISR Agency Operations • Dynamics of Service • Select PIAW Webinars • PIAW Conducted E&O Seminars (classroom or in house) To register online and view upcoming CE courses visit www.piaw.org

26 DECEMBER 19

Please contact Heidi Hodel, CIC, Member Benefits Coordinator hhodel@piaw.org or 1-800-261-7429 to find out how you can benefit from Utica’s E&O Loss Control Program.

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COMMERCIAL INLAND MARINE CONCEPTS & COVERAGES EMPLOYMENT PRACTICES LIABILITY INSURANCE Robert Ford, CIC, CISR, CPIA, CLCS, MLIS, CRIS

•

CRIME COVERAGE & ENDORSEMENTS John Dismukes, CIC, CPCU, AAI, AIS

• •

CYBER EXPOSURES & COVERAGES EXCESS LIABILITY/COMMERCIAL UMBRELLA COVERAGES Bettye Buffington, CIC, CRM, CPCU, ARM CPIA, AAI

WI CE COURSE #600039204

• •

STRATEGIC PLANNING TALENT ACQUISITION AND DEVELOPMENT Robert Shomo, MBA, CIC

• • •

CLIENT RETENTION AND ACQUISITION TECHNOLOGY UTILIZATION ETHICAL RESPONSIBILITY William Toll, CIC

education

NEW! Certified Insurance Counselor Institutes

WI CE COURSE # 6000037322 Includes 3 Hours of WI Ethics / Utica Approved

Day One 8:00 – 5:15 / Day Two 8:00 – 5:00 / Day Three Optional Exam 8:00 – 10:00

CIC RUBLE SEMINARS

Exciting update options for CICs, CRMs & now CISRs! 16 WI CE (Includes 4 optional Ethics) January 29 & 30 / Graduate Ruble / Crowne Plaza - Milwaukee, WI May 14 & 15 / Graduate Ruble / Hilton Garden Inn – Sun Prairie These seminars fill up quickly! Register at piaw.org or call PIA at 800-261-7429

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SERVING POLICYHOLDERS AND INDEPENDENT AGENTS IN WISCONSIN SINCE 1854 DECEMBER 19 27

education

WHY CISR?

WHERE EXPERTS BECOME EXPERTS

Set the standard for technical expertise, productivity, and responsibility in your client relationships.

Be Great At What You Do!

CERTIFIED INSURANCE SERVICE REPRESENTATIVE Open to Anyone!

DECEMBER

10 - Madison

PERSONAL RESIDENTIAL 7 WI CE Credits / Course # 69328

Angela Kain, CISR, AINS / SECURA & John Dismukes, CIC, CPCU, AAI, AIS

The CISR Personal Residential Course helps you develop the expertise to guide your customers through the often complex and confusing process of purchasing homeowners insurance. More importantly, you will be able to provide practical information that will help clients make decisions for protecting their most valuable assets and their financial future in the event of a loss. • •

JANUARY

28 - Milwaukee

Personal Residential Concepts Homeowners Policy Property Coverages

•

Homeowners Policy Liability Coverages and Policy Conditions

COMMERCIAL PROPERTY 7 WI CE Credits / Course # 69332

Commercial property insurance is one of your business customers’ greatest concerns. You’ll improve your cross-selling abilities with up-to-date knowledge of commercial property coverage and reduce E&O exposures. Insuring Commercial Property gives you the skills to address these issues with greater ease and confidence. John Dismukes CIC, CPCU, AAI, AIS

28 DECEMBER 19

• • • • •

Instruction 8:00 – 3:45 Group Lunch 12:00 – 12:45 Optional Exam 4:15 – 5:15

Fundamentals of Commercial Property Insurance Building and Personal Property Coverage Form Causes of Loss Forms Basics of Time Element Insurance Basics of Commercial Inland Marine Insurance

$177 Per Course – Includes CE, Course Book & Lunch Register at piaw.org or call PIA at 800-261-7429

Earn the advanced CISR Elite distinction by taking nine courses covering different areas

education

WHY CISR ELITE?

of insurance, risk management, and benefits.

Advance to Elite Status.

WHERE EXPERTS BECOME EXPERTS

DECEMBER 19 29

education

New Topics! Each Approved for 3 WI CE Credits. Live. No Test. No Proctor. Visit the Education tab at piaw.org for a complete list of topics, descriptions, webinar demo and registration. Several approved for Utica credit. Ethics is offered each month. Fee per Webinar: $55 PIAW Member, $70 Non Member – Includes WI CE fees.

December 2019 Webinar Schedule TITLE & WI CE

DATE

TIME (CST)

INSTRUCTOR

Ethics and E&O: Synergy Not Rivalry 3 WI ETHICS CE # 6000042406 Utica Approved

12/3

12-3p

Chris Amrhein, CIC

Alphabet Soup: The Mistakes and Coverage Behind D&O, EPLI, FLI, and EBL 3 WI CE # 6000039321

12/5

12-3p

Chris Amrhein, CIC

Cyber Coverage – Data Breach and So Much More WI CE # 6000039289

12/10

8-11a

Catherine Trischan, CPCU, CRM, CIC, ARM, AU, AAI, CRIS, MLIS

Homeowner’s Policy Coverage Concerns for the Modern Family 3 WI CE # 6000039288

12/10

12-3p

Nicole Broch, CIC, CISR, PLCS

E&O Reasons and Solutions 3 WI CE # 6000018528 Utica Approved

12/12

8-11a

Becky Lathrop, CIC, CPIA

Commercial Liability Claims that Cause Problems 3 WI CE # 6000042393

12/12

12-3p

Terry Tadlock, CIC, CPCU, CRIS

How Savvy Businesses Use Life Insurance to Hedge Against Financial Losses 3 WI CE # 6000039287

12/17

12-3p

Karin Klaassen, CLU, LUTCF

Flood Insurance – FEMA Approved 3 CE # 1011252

12/18

1-4p

Robin Federici, CIC, AAI, ARM, AINS, AIS, CPIW

Register online at piaw.org or call 1-800-261-7429. Contact Brenda for in-house webinar opportunities. bsteinbach@piaw.org

30 DECEMBER 19

One year ago, a devastating flood shocked Wisconsin. But it can happen again at any time. 1 inch of flooding can cause more than $25k in damage to your home. Protect yourself. For more info contact Heidi at Professional Insurance Agents of Wisconsin, Inc. Direct: (608) 274-8254 / Phone: (608) 274-8188 / hhodel@piaw.org

DECEMBER 19 31

11th Annual PIAW Winter Get-Away Registration Fee Only $119.00

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PIA provides me with opportunities to strengthen my leadership skills and meet people who can help me succeed.

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FIND OUT WHY IT PAYS TO JOIN PIA. WHEN YOU DO, YOU’LL BE PIA, TOO!

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“Why Can’t I Grow My Business?” BWO = Independence AND Opportunity.

Tired of losing sales because you don’t have access to carriers? Become an independent BWO agent and you won’t be chasing the competition, you become the competition. You’ll be able to offer the best names in the business, no matter where you’re located throughout Wisconsin and the Midwest. And because we deal with the carriers, commissions, database, etc., you can focus on what you do best: Sell! With BWO, you’ll have the tools, products and support that give you greater opportunity to compete – and a partner dedicated to your success.

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How to go about engaging customers More often than not, sales fall apart before they get started. The salesperson is there and so is the customer. One does most of the talking and the other listens, maybe. One says, “Do you have any questions?” and the other comes up with something, maybe. One wants to make the sale; the other isn’t convinced. No matter what you’re selling—a home, an insurance policy, apparel, advertising, accounting, or anything else—there is no sale unless you engage customers. Here’s how to do it: • • • •

Get them talking. Tell me about what you want to accomplish? Discuss options. What are some of the possibilities you’re considering? Decision time. Based on what you’ve said, is this the option that comes closest to what you need to do? Get it done. Since you’ve made your decision, let’s talk about how to proceed.

Takeaway: In this process, the role of a salesperson is that of listener and guide, someone customers can rely on who helps clarify their thinking so they make an appropriate decision.

Why salespeople avoid older consumers A few months ago, a columnist came up with 10 compelling statistics to show that marketers who follow the money wind up on the doorstep of older consumers, rather than ignoring them and focusing only on younger segments. It was factual, well-prepared, and compelling. However, it reminded me of the time when we sent a marketing proposal to a firm up in Maine after a fact-finding meeting with the principals. A week later I called the president who said, “We got the proposal but it reeked with smoke and we trashed it.” I knew the facts about the dangers of smoking. I wrote articles and newsletters for a lung association—while smoking! It’s no different with older consumers. The facts make older consumers, those 50-plus appealing to salespeople. They have money and spend it. Just what salespeople want. So, why are marketers indifferent to them? Like smoking, the problem with older consumers isn’t factual. It’s emotional. For example: • • • • •

Older people talk too much—about themselves They drag out making decisions They're often unsure of themselves and worry about making a mistake They cause all sorts of time-wasting after-sale problems They’re perceived as digital dummies

So, some of those in sales say, “Is this what I’m going to be like when I’m their age?” That’s scary and uncomfortable. We even avoid looking older consumers in the eye. It isn’t that we’re indifferent to them. We just conger up excuses to avoid them. [ Source: GrahamComm Newsletter ]

36 DECEMBER 19

More than a trusted brand, AAA is the perfect lead — and close. Every sale has a beginning and end. And AAA can help your independent agency with both. Add AAA to your product mix and grow your bottom line selling quality insurance through AAA and the extensive benefits of AAA Membership – an unbeatable combination of security and savings. If you’re ready to grow, we’re here to help with the products and support that can help you earn more. n Quality insurance with competitive rates n Powerful brand recognition n Sales manager support n Product training n Extensive marketing co-op program

Learn more today. Call Leo Plese at 630-328-7076 or e-mail me at lmplese@aaachicago.com

17-IA-2054 LC 3/17

We look for the best independent agents and build relationships that last the duration. We are committed to the independent agency system as the only means to deliver our products. Because of that, we work hand-inhand to help our agencies grow profitably.

Our agents set us apart. For information about becoming a Partners Mutual Insurance Agent please contact Brian Martin at 262.432.3439 or Mike Ottman at 262.432.3418.

DECEMBER 19 37

PROFESSIONAL INSURANCE AGENTS OF WISCONSIN, INC. 6401 Odana Road - Madison, WI 53719 / Phone: 608-274-8188 / Toll Free: 800-261-7429 / Fax: 608-274-8195 / Toll Free Fax: 866-203-7461 / www.piaw.org

OFFICERS Mr. Sean M. Paterson, CIC President Robertson Ryan & Associates 20975 Swenson Drive, Suite 175 Waukesha, WI 53186 Phone 262-782-5373 Fax 262-782-6327 spaterson@robertsonryan.com Ms. Julie Ulset, CPIA Vice President Grams Insurance Agency LLC PO Box 336 Edgerton, WI 53534 Phone 608-884-3304 julset@gramsinsurance.com Mr. Dan Wolfgram AINS, CPIA Treasurer R & R Insurance Services, Inc. PO Box 1610 Waukesha, WI 53187 Phone: (262) 953-7103 Fax: (262) 953-1394 dan.wolfgram@rrins.com Mr. Ryan Butzke, CIC, CISR Secretary Northbrook Insurance Associates, Inc. PO Box 780 Menomonee Falls, WI 53052 Phone: (262) 644-6027 Fax: (262) 783-4075 ryanb@northbrook-ins.com

DIRECTORS Mr. Steve Clements, CPIA Clements Insurance Agency 317 6th St. Wausau, WI 54403 Phone: (715) 842-1664 Fax:: (715) 848-3337 steve@clementsagency.com Mr. Jeremy Cordova, CIC Cordova Agency, Inc. 716 E 2nd St. Merrill, WI Phone 715-536-9576 Fax 715-539-3349 jeremy.cordova@cordovaagency.com Mr. Matt Cranney, CIC, CRM Past President M3 Insurance, Inc. 3133 W Beltline Hwy Madison, WI 53713 Phone 608-273-0655 Fax 608-273-7783 matt.cranney@m3ins.com Ms. Lacey Endres, CIC M3 Insurance, Inc. 828 John Nolan Dr. Madison, WI 53713 Phone: (608) 288-2874 Fax: (608) 273-8873 lacey.endres@m3ins.com Ms. Sandy L. Hardrath, CIC, CPIA Ansay & Associates 4712 Expo Dr. Manitowoc, WI 54220

Phone 920-370-4283 Fax 920-682-7799 Sandy.Hardrath@Ansay.com Mr. Michael Keener, CIC Keener Insurance Solutions, LLC W 175 N11081 Stonewood Dr Ste 105 Germantown, WI Phone 262-293-9144 Fax 262-293-9254 michael@keenersolutions.com Ms. Ann Linstroth, CISR, PWCAM Fidelis Insurance Services 840 Lake Avenue, Ste 101 Racine, WI 53403 Phone: (262) 456-0463 Fax: (262) 583-0729 annl@trustfidelis.com Ms. Tracy Oestreich, CIC, CPIA, CA, AU, CPIW PIAW National Director T4 Insurance Solutions PO Box 408 Jackson, WI 53037 Phone 262-423-4949 Fax 262-423-4959 tracyo@t4ins.com

STAFF Pete Hanson, CAE Executive Director phanson@piaw.org Becca Bredeson Administrative Assistant bbredeson@piaw.org Heather Falk, CISR Bookkeeping hfalk@piaw.org Heidi Hodel, CIC Member Benefits Coordinator hhodel@piaw.org Brenda Steinbach Education & Convention Director bsteinbach@piaw.org Tiffanie Yocum Administrative Assistant tyocum@piaw.org

Mr. Mitchell Tarras Nett Insurance Agency LLC 607C Eastern Ave Plymouth, WI 53073 Phone 920-893-3252 Fax 920-893-3250 mitch@bwoinsurance.com

Coming Events DECEMBER 2019 10

CISR Personal Residential Madison, WI (7 WI CE)

11-13

CIC Commercial Multiline Madison, WI (16 WI CE)

JANUARY 2020 28

CISR Commercial Property Milwaukee, WI (7 WI CE)

29-30

CIC James K. Ruble Milwaukee, WI (16 WI CE, 4 of 16 are optional Ethics)

FEBRUARY 2020 5-7

11th Annual PIAW Winter Get-Away Minocqua, WI (10 WI CE, Includes 3 Ethics)

CISR Personal Lines Misc. Green Bay, WI (7 WI CE)

CISR Personal Lines Misc. Madison, WI (7 WI CE)

Feb. 27 - Mar. 1

CIC Personal Lines Appleton, WI (16 WI CE)

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MARCH 2020 11-13

CIC Agency Management Green Bay, WI (16 WI CE)

We know what it took to build this unique business.

And we know what it takes to protect it. Underwriters who know and understand what coverages are necessary for each unique business. Loss prevention professionals who use a hands-on approach to help develop programs tailored to each specialty business. Claim reps with the expertise and technology to process claims quickly and efficiently. As an Official Supplier of the Silver LiningÂŽ, you and West Bend will find a specialized insurance plan for your valued customers. To find out more, talk to your West Bend underwriter.

Celebrating 125 years of valued relationships with our agent partners.