INNOVATION IN A RECESSION Five tips for preparing your innovation roadmap By John Jarosz As we look ahead to the rest of 2023, talks of global recessions are dominating boardroom discussions across the insurance industry. Of course, managing a business during a recession is never easy. But it’s not knowing when the recession will end that makes it particularly hard. Before launching Sightglass, an innovation consultancy that helps companies
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TOP 5 SIGNS AROUND FRAUDULENT CONSUMER ACTIVITY When things don’t seem right, they just might not be Having a CSI-like mentality as a member of the insurance industry is vital to protecting your interests By Michael Wayne Insurance fraud is an industry fact. On the broker or agent side, you undoubtedly have heard stories of premium diversion, fee churning, asset diversion, and workers compensation fraud among other common schemes. According
TOP 5 WAYS AGENCIES ARE FINDING SUCCESS Everything from trust and compensation to education and engagement Fewer than 20% of agencies attend career fairs. Fewer than 30% offer internships. Get on college campuses and even high school campuses and show your face. By Michael Wayne Earlier this month, I read an article that analyzed AM Best’s most recent market segment report for U.S. property and casualty insurance. The piece’s title
TOP 5 CUSTOMER-FOCUSED PHONE TIPS How to use phone calls to help drive client satisfaction [W]hen a client calls you, they want your empathy and they want to know that you have the ability to fix what’s wrong immediately. By Michael Wayne Think about your agency’s business model as it relates to clients. More than likely, you reside in one of two camps—those with producers who secure business and
TOP 5 AREAS WHERE INSURANCE LEADERS ARE LIKELY TO BE HIT HARDEST THIS YEAR Will lessons learned from past challenges be applied for a better tomorrow? Many 20- to 30-year-olds wouldn’t be able to tell you a thing about the Great Recession, which now took place 15 years ago. In this case, ignorance is not bliss … . By Michael Wayne George Santayana once wrote, “Those who cannot remember the
