Agency Management

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$420.00
Available
Seats Available
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Instruction Hours 16
Topics Agency Management
Programs Certified Insurance Counselors Institutes (CIC)
Start Date Feb 03, 2020
End Date Feb 24, 2020
Learning Options Online Instructor-Led

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Topics Covered:

  • Strategic Planning
  • Talent Acquisition and Development
  • Client Retention and Acquisition
  • Technology Utilization
  • Ethical Responsibility

Accommodations not applicable for Online Courses.

As we all know, our industry is constantly changing with new or revised coverage forms, rating plans, and organizational structures. Whether or not your organization focuses on commercial lines, personal lines, benefits, or a combination of things, the big issue is always how well the firm’s resources are managed. The better managed an organization is, the more successful it will be. The Agency Management Institute is designed to be relevant to the broad range of industry professionals who attend. Each subject is presented in a way that agency owners, producers, account executives, customer service representatives, and insurance company personnel see the value and how it relates to their position within the organization.

Topics Covered: Covered:

  • Strategic Planning
  • Talent Acquisition and Development
  • Client Retention and Acquisition
  • Technology Utilization
  • Ethical Responsibility

Participants will:

  • Discuss the types of agency organizational structures, the importance of licensing, and the role of state and federal regulation. This will include understanding the agency contractual relationship with the Insurance Company and how to create the best possible relationship.
  • Understand the financial aspects of an agency and how financial performance affects both clients and agency employees. The basics of Cash Flow, Income Statements, Balance Sheets, and the importance of effective collection procedures are included.
  • Learn the fundamentals of agency planning, including questions to consider and how to conduct the proper agency analysis. Participants will understand the benefits of succession planning and the methods they can use to perpetuate the agency organization as a successful viable entity.
  • Understand the process of managing personnel, including legal guidelines, establishing job descriptions, interviewing techniques, performance appraisals/evaluations, and termination procedures and be able to apply what they have learned.
  • Learn what motivates ethical behavior and examine the leading causes of errors and omissions claims made against agents, and the control methods to implement to reduce or prevent risk.
Faculty

Faculty Name

Robert Shomo

Bio Detail

Robert Shomo (Bobby) is President of Shomo-Madsen Insurance which is headquartered in central Iowa. Shomo-Madsen Insurance, is a Best Practices Agency recipient and represents approximately 20 Insurance Companies with an agency mix of roughly 40% Personal Lines, 30% Commercial Lines, 20% Municipalities and 10% Life and Health. The agency has five locations and 25 employees with their main office in Marshalltown, Iowa. Bobby is involved in the agency on a full-time basis as a managing partner, producer, and Human Resources manager. Prior to purchasing his first agency, Bobby spent six years on the company side primarily in casualty claims with rotations in underwriting and loss control. His MBA was earned with concentrations in Finance and Accounting. He received his CIC designation in 2012. Bobby has a passion for education as both a teacher and a student. His background brings a perspective from both the company and agency sides. In addition, his agency experience has developed from a relatively small, single owner shop with three employees and a handful of contracts to his current structure with a 50/50 partner, multiple locations and staff of twenty-five. Bobby is currently working toward his CRM designation.

Faculty Name

Joseph Sherrill

Bio Detail

Karl Sherrill is a Consultant with Marsh & McLennan Agency (MMA) in their High Point, NC office. Karl serves as the Leader for the National Manufacturing Practice Group at MMA and manages their Private Education and Tuition Insurance programs. Prior to joining MMA, Karl worked over 20 years in manufacturing with specific experience in textiles, automotive, furniture, plastics, food and beverage, distribution/supply chain, and heavy machinery. He has specific training in team building, ISO Standards, OSHA Voluntary Courses, and Kaizen Continuous Improvement Instruction. His background provides unique insights into the risk that companies face and allows him to build innovative and forward thinking risk management strategies for his clients. Karl is a respected lecturer having taught undergraduate and graduate courses in professional sales, sales management, business communication, and fundamentals of management. He enjoys speaking to various business groups regarding ethics, leadership, interpersonal relationship dynamics, and professional network building. Karl earned his CIC and CRM designations in 2013. Karl is a graduate of North Carolina State University with a Bachelors and Masters degree in Textile Management. He also earned his MBA from Elon University, where he received the Richard H. Behrman Most Outstanding MBA Graduate award. Karl was also inducted into the International Business School Honor Society of Beta Gamma Sigma. He served on the board for the Elon School of Business and was a founding member of both the Elon Chandler Professional Sales Center Board of Advisors and the Elon MBA Student-Alumni Board. Karl serves as a District Director on the Board of the Independent Insurance Agents of North Carolina (IIANC) and is a past Chairperson for the NC Young Agents Committee of the IIANC. In 2011, Karl was selected as the North Carolina Young Agent of the Year. He also serves on the Legislative Committee for the IIANC where he spends time in Washington, DC meeting with legislators regarding insurance and business legislation. In the community, Karl serves on the advisory board for a local bank, held leadership roles in church and civic organizations. As an Eagle Scout, he remains active in his local troop.

Faculty Name

Geoffrey Gordon

Bio Detail

Geoff Gordon has been the principal of Gordon Atlantic Insurance agency since 1987. Gordon Atlantic makes insurance make sense by focusing on understanding risk first, providing commercial and personal insurance to businesses and families throughout Massachusetts. Gordon Atlantic has grown organically and through acquisitions. A prolific writer and recognized industry thought leader, Geoff has contributed articles to Banker & Tradesman, a regional trade periodical, and served on the Quincy Patriot Ledger's Board of Economic Advisors panel. He is a member of the Plymouth Rock Assurance Agents Advisory Council as well as the Bunker Hill Insurance Agents Advisory Council. Geoff has presented to the Financial Planning Association's education series and teaches locally. Summing it all up, Geoff presented to a TEDx conference in 2016 on "Personal Risk for a Rich Life". Geoff obtained his Certified Financial Planner (CFP¨) designation in 1985, the Certified Insurance Counselor (CIC) designation in 1995, and his Certified Risk Manager (CRM) designation in 2004.