CIC Agency Management

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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:

  • Agency Organizations
  • Understanding and Managing Financial Strength
  • Agency Planning
  • Human Resources
  • Agency Productivity and Effectiveness
  • Legal and Ethical Responsibilities

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.

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