Market Financial Group Among Finalists for NetVU’s Automation Excellence Award
A serious commitment to automation and an agency-wide implementation of technology-based workflows has taken Market Financial Group from a small (less than 20 user) agency, focused on keeping what accounts they could, and struggling to navigate the current insurance field, to triple digit growth and massive automation across all aspects of the organization, in just three years.
MFG is the second of three finalists for NetVU’s Automation Excellence Award that is being profiled in a series of articles in NetVU NOW. In the last article, we presented what distinguished the Bank of America agency, BAISI from the rest; today we’ll look at MFG.
By leveraging industry resources and NetVU partners, explains Frank Barbella, chief operations officer, Market Financial Group, “We have established dedicated workflow manuals with the help of consultants like Angela Adams. We exceed overall industry standards as published by MarshBerry by a wide margin in almost every category for our revenue class” and now have a large dedicated sales staff, four branch offices, and a completely paperless work environment.
Technology education is a key element in MFG’s success. “Staff is trained in every aspect of their computers, management systems, the Internet and workflows,” Barbella said.
The extra time gained by automating every area of the business, has allowed MFG to focus more effectively in areas of customer service, responsiveness and detailed policy analysis.
Technology improvements like new computers, triple monitors, high speed scanners, integrated smart phones, dedicated in-house servers and networks between offices, along with “procedures and manuals to make sure workflows are efficient and audited, and the use of the very best in agency software and complementary products available have allowed us to survive and flourish in a way that almost no other agency we have encountered has,” according to Barbella.
Personal Lines account executives now market and return business within 24 hours due to increased automation in the marketing department, download, familiarity with technology (e-mail, adobe acrobat, Doc360, personal lines rating tools, QueryPlus) while maintaining an average of 1200 accounts per rep spread out over a staff of six reps).
Salesmen access data and client information from their laptops in the field while tethered to their Smartphone's.
Data is shared among the entire company efficiently. Managers have a firm grasp on their departments, and metrics for employees. “Agency owners can identify trends and act on them immediately in every area of the business allowing for a clear strategic vision. Detailed analysis of expenses allows for extreme efficiency in all operating areas of the business. Extremely automated environments allow every staff member to service a larger amount of revenue per desk without the need for additional staff,” added Barbella.
Look for the last article on finalist Peel & Holland Financial Group in the next issue of NetVU NOW. Plan to attend the 2011 NetVU Conference and see whether you picked the actual winner. With such great agencies represented, it will be difficult.
2011 NetVU Conference: Building Friendships that Last a Lifetime
Yes, NetVU Conference is an amazing venue for receiving great knowledge and top-notch education, but that is only one part! There is so much more at the NetVU Conference! At this world-class networking event, you are going to make relationships that will last a lifetime.
The 2011 NetVU Conference is filled with opportunities for all who attend, including the Grand Opening Reception, a Networking Reception with the Exhibitors, two amazing Keynote Speakers. Add the Grand Finale celebration and being bored is not an option! This year's theme “The Magic Is in the Message” underscores the power of networking and learning from peers. And Networking there is! See what people are saying in Communities regarding the NetVU Conference:
“Conference #11 for me!!! Can't wait to see all GREAT friends that I've made over the years and to participate in the AWESOME education that is provided.”—Kathe Ryan, JW Terrill Inc., Chesterfield, MO
“There is just SO much at conference the classes, the how to room, but the networking is great! Can't beat it for the investment! -- You'll make connections that you will never regret. PLUS ... you'll learn about the upgrades to the management systems that will let you plan how to train your employees and get your office positioned for the system changes.”—Joyce Sigler, CISR, CPIW, CPIA, Jones & Wenner Insurance Agency Inc., Fairlawn, OH
It’s vital for insurance professionals to connect with their peers and learn, and this conference makes those moments possible. Conference attendees are serious about the future and looking for ways to help grow their businesses. This is the best place to talk with agencies about what they need to build your roadmap for the future. So come to Orlando and network….and make friends in the process! Register NOW!
Congratulations SSAs!
Congratulations to NetVU’s 19 newly certified Sagitta System Admin (SSA). During the week of intense training lasting business relationships were built and everyone learned a great deal about Sagitta.
A huge thanks to the SSA educators, Todd Doster of McQueary Henry Bowles Troy LLP; Tina Clay of Bank of America; Nancy Mitchell of Compass Bank - Insurance Service Division; Jon Lienhoop of T&H Group Inc.; and a special thanks to Deb Bergren of Vertafore. They all volunteered their time to make the first SSA a success.
SSA Certifcation attendees take a short break for a photo op.
Introducing our new SSA Certified Users
Phil Baskey, SSA
Maggie Berhane, SSA
Michael Bussey, SSA
Nancy Buszinski, SSA
Tina Clay, SSA
Ellen Dale, CIC, SSA
Todd Doster, CISSP, MCSE, SSA
Josh Flegel, SSA
Kaye Ladd, SSA
Jon Lienhoop, SSA
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Troy Lowe, SSA
Shelly Miller, SSA
Stella Mintz, SSA
Nancy Mitchell, CPA, SSA
Shelly Piechotte, SSA
Patricia C. Robinson, SSA
Helen Scott, SSA
Angela Sibley, SSA
Steve Toub, SSA
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E-mailing Policies: How to Take the Plunge
By: Jeff Yates, ACT/IIABA
Agents are generally supportive of personal lines carriers that give clients discounts in order to go paperless and access their policies electronically. In the commercial lines and E&S markets, however, many agents are concerned about the inefficiency and cost shifting that takes place when carriers stop sending the paper policies to the agent for delivery to the client, as many insureds still want the paper.
Electronic policies represent the future and are more efficient in many ways (no mail time, do not need to be scanned into agency system, potentially save printing costs). Agents should encourage their clients to make the transition to electronic policies, in the same way that other financial services companies are inviting their clients to move to electronic delivery. Carriers, in turn, should help their agents with this transition by providing them with electronic policies and the option to receive paper copies for clients who are not ready to accept the electronic model.
Many agencies like to deliver commercial lines policies to their insureds personally and are now delivering these policies on a CD as a “value add,” where clients agree to this method. Several larger agencies provide a secured area on their website where clients can access their policies. Hopefully, technology providers will increasingly provide turn-key solutions for the broader agency population so that they can provide their clients a secured portal for accessing their policies, as well as linking to their carriers to make payments and perform other self-service functions.
In this emerging paperless environment, many agencies are considering e-mailing policies to their insureds. If your agency is thinking about a delivery change, consider these issues:
- Confirm that the particular state’s laws and regulations permit the e-mailing of policies and do not require that the insured be provided a physical copy.
- Secure the advance agreement of the client to receive policies electronically by e-mail.
- Provide in the e-mail a request that the client acknowledge receipt of the e-mail and policy by return e-mail and have a procedure—that is consistently followed—of following up with the insured if he/she does not acknowledge receipt.
- Include in the e-mail a disclaimer that the insured should read the policy to ascertain that its limits and coverages are appropriate for its needs and that it should contact the agency if it would like to add any coverages or make any changes. The notice should also give the insured the option to elect to receive paper policies. (This disclaimer should be provided in the cover letter that accompanies the personal delivery of a paper policy or CD as well.)
- Check the policy for accuracy before sending as provided in the agency’s procedures.
- Send by secure e-mail if the policy contains any private personal information under the applicable state and federal privacy and data breach notification laws. Such private information might include the federal employer identification number, driver license numbers, etc. ACT encourages the use of TLS e-mail encryption for secure e-mail, and TLS works very well in agent-carrier communications when both parties have it. A proprietary secure e-mail solution, however, will be necessary for many client communications when the client does not have TLS.
- Deliver the policy to the client promptly after being received—whether e-mailed or delivered personally—and avoid any agency backlog in policy deliveries.
- Document in the agency management system that the policy has been sent and the steps taken to follow up if necessary, and attach the transmittal e-mail in unalterable form.
The emergence of a paperless environment is precipitating changes in agency workflows and is creating opportunities for carriers and technology providers to offer new, helpful tools for agencies to function more efficiently in this new environment.
Reprinted with permission from IA Magazine – January 2011.
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Entrinsik Announces Informer Data Bundles for Insurance Agencies
New package delivers a turn-key reporting and analysis solution to Vertafore® Sagitta® and AMS360® agencies
Entrinsik Inc. (www.entrinsik.com), NetVU Gold Partner and developer of Informer, an award-winning web-based operational reporting and analysis solution, recently announced the availability of data bundles for agencies implementing Informer on Vertafore’s Sagitta and AMS360 management systems. The bundles include canned reports and data mappings allowing for instant implementation.
The new data bundles were developed in collaboration with existing Sagitta and AMS360 customers and consultants reflecting the most requested reports. Informer bundles allow agencies to:
- Instantly access policy/client and accounting reports by parameters such as department, division, carrier, yearly comparisons and aging intervals;
- Create and customize reports on the fly without assistance from IT;
- Automate scheduled reports and distribution;
- Consolidate data across offices or divisions for one view of agency data in real time.
For years, Entrinsik has participated in insurance agency management system conferences and has been recognized as a valued supplier/vendor to Vertafore agencies. "We are committed to the success of agency customers and know immediate access to production data is critical for them", said Doug Leupen, President/CEO. "The objective of our Informer data bundles is to immediately help agencies leverage all their data to increase operational efficiencies and profitability.”
And be sure to pre-register to win an Apple iPad at the upcoming NetVU Conference on April 28th by visiting http://www.entrinsik.com/solutions/informer/netvu2011.php.
About Entrinsik, Inc.
Since 1984, Entrinsik Inc. has been developing, implementing, and supporting information management solutions that enable organizations to maximize performance and improve bottom lines. With tens of thousands of users across various industries, Entrinsik's Informer is an innovative, award-winning, intuitive operational reporting and analysis solution used by tens of thousands around the world. With an interactive web-based interface, Informer creates a self-service operational BI environment where users can customize reports and perform multi-database, on demand analyses without IT assistance. To learn more about Informer visit www.entrinsik.com or call (888) 703-0016 today.