operations

Leverage technology to improve efficiency and agency profitability

Using Technology to Boost Agency Profitability

When it comes to leveraging new technologies in business, many insurance agency owners are still in the Industrial Age. Fewer than half of all independent insurance agents use e-newsletters, text messages, social networks or instant messaging, according to last year’s Insurance Digital Transformation Survey, which polled more than 4,300 independent insurance agents nationwide. The majority also admitted that their business lacked key technology tools, like client portals and claims download. Given that digital tools are practically ingrained in the DNA of Millennial clients and commonly used by Gen Xers, agency owners and brokers who omit these options could not only fall behind the competition, but flat out miss reaching a significant segment of the marketplace.

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Exit Your Insurance Agency Gracefully

How to Plan a Graceful Exit from Your Insurance Agency

A good business exit strategy can take years to come together, because businesses are the least liquid investment you can make. Much of the value of your insurance agency resides in intangible elements, like your relationships with vendors and clients, your ability to manage employees, your attention to detail, and your vision for the future. If you are considering selling your insurance agency, you need a great exit strategy to ensure that you get the full value of your business.

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March Buying Opportunities

Each month, we provide highly confidential listings of insurance agency and broker buying opportunities to our subscription clients. We communicate regularly with our network of more than 3,100 business intermediaries as well our network of consultants, attorneys, CPAs, bankers, DOIs…

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