OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. announces that the December issue of Best’s Review magazine will feature a special package exploring best practices for insurance agencies and brokers in “10 Agencies That Get It Right.” The agencies profiled were selected by a panel of independent insurance experts who reviewed submissions from agents and brokers who responded to an invitation published in the magazine.
Reviewers selected a variety of innovations, including agencies that saw big boosts in their business because they:
- Revamped their sales processes so that each producer followed a structured program that ultimately led to more sales and 15 guaranteed referrals for each
- Used new technology to become paperless and to switch to innovative, lower-cost phone systems
- Accessed new alternative risk-transfer vehicles that allow them to win larger, specialized accounts
- Realigned their specific lines of business across offices, allowing producers to sell more in each area
- Addressed succession planning through training, employee development and financial programs that allow younger members to build equity
- Launched new customer support initiatives aimed at empowering their agents
- Reinvented their workplaces and work styles with the goal of becoming a best place to work, then using that as a recruiting and retention tool
- Focused on niche areas for collectors, then used their branding, employees and work systems to build a unique brand in a competitive sector
“We expected some interesting responses, but some of these programs and ideas took us by complete surprise,” Best’s Review editor Lynna Goch said. “We’ve seen a direct connection between innovation and agency success through these living and breathing examples.”
Best's Review’s December edition goes online on December 1, 2012.
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Source: A.M. Best Co.