Insurance Journal's Academy of Insurance
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Given the current economy and the current state of the insurance market place, what strategies should an agency employ going into 2011?
Given the current economy and the current state of the insurance market place, what strategies should an agency employ going forward?
Agents attending this class will learn that strategic planning for insurance agencies begins with analyzing their carriers, because carriers are the most important partners agencies have. With the right partners, huge opportunities exist. Without the right partners, limited opportunities exist. This class will show the importance of doing this analysis and provide resources for how and where to have the analysis completed.
Internally, the most important part of a strategic plan is determining from where growth and profit will be generated. It is not enough to just grow. A strategic plan will focus on generating profitable growth. The vast majority of strategic plans, sales plans, marketing plans, and growth strategies only focus on growth, not profitable growth. We will discuss keys to analyzing profitable growth, why it is ok to forego unprofitable growth, simple steps to achieving profitable growth on a slow, but steady basis, and the keys to developing successful, profitable producers.
Some questions we will cover: 1. Will the market be harder or softer? 2. What implications do market conditions have on agencies? 3. From where will any agency’s profit and growth come? 4. What resources will an agency need to achieve its profit and growth goals? 5. Why are growth goals alone or profit goals alone the equivalent of drinking one’s self to death?