Wisconsin Independent Agent | September 2023 Magazine

COVER STORY:

InsurCon2024 registration opens at the end of September and we're sharing a sneak peek into what to expect for this year's one-of-a-kind event, hosted at the legendary Lambeau Field in Green Bay, WI on May 15-16, 2024.

ADVERTISERS INDEX

INDEPENDENT INSURANCE AGENTS OF WISCONSIN

725 John Nolen Drive

Madison, Wisconsin 53713

Phone: (608) 256-4429

Fax: (608) 256-0170

www.iiaw.com

2023-2024 EXECUTIVE COMMITTEE

President: Michael Ansay | Ansay & Associates

President-Elect:

Joanne Lukas Szymaszek | Johnson Insurance Services, LLC

Secretary-Treasurer:

Dan Lau | Robertson Ryan & Associates

Chairman of the Board: Nick Arnoldy | Marshfield Insurance Agency, Inc.

State National Director: Steve Leitch | Leitch Insurance

2023-2024 BOARD OF DIRECTORS

Janel Bazan | Avid Risk Solutions/Assured Partners

Beth DeLaForest | Aspire Insurance Group, Inc.

Mike Harrison | R&R Insurance Services, Inc.

Jason Knockel | Kunkel & Associates, Inc.

Aaron Marsh | Marsh Insurance Services, Inc.

Andrea Nelson | Unisource Insurance Associates, LLC

Brad Reitzner | M3 Insurance Solutions

Justin Staebler | Risk Strategies Company

IIAW Staff

Matt Banaszynski | Chief Executive Officer 608.256.4429 • matt@iiaw.com

Mallory Cornell | Vice President 608.210.2975 • mallory@iiaw.com

Kim Kramp | Accounting Supervisor 608.210.2976 • kim@iiaw.com

Trisha Ours | Director of Insurance Services 608.210.2973 • trisha@iiaw.com

Evan Leitch | Agency Solutions Advisor 608.210.2971 • evan@iiaw.com

Kaylyn Staudt | Marketing and Communications Director 608.210.2977 • kaylyn@iiaw.com

Jeff Thiel | Director of Agency Success 608.256.4429 • jeff@iiaw.com

Andrea Michelz | Education & Membership Engagement Coordinator 608.210.2972 • andrea@iiaw.com

Diana Banaszynski | Events Coordinator and HR Business Partner 608.256.4429 • diana@iiaw.com

Ali Smeester | Accounting Specialist 608.256.4429 • ali@iiaw.com

Freeman Zhang | Data Analytics Intern 608.256.4429 • freeman@iiaw.com

Wisconsin Independent Agent is the official magazine of the Independent Insurance Agents of Wisconsin (IIAW) and is published monthly by IIAW 725 John Nolen Drive, Madison WI 53713. Phone: 608.256.4429. IIAW does not necessarily endorse any of the companies advertising in publication or the views of the writers. IIAW reserves the right, in its sole discretion, to reject advertising that does not meet IIAW qualifications or which may detract from its business, professional or ethical standards. © 2023 For information on advertising, contact Kaylyn Staudt, 608.210.2977 or kaylyn@iiaw.com.

WISCONSIN AGENTS

5 BIG WAYS ACUITY IS HERE FOR YOU!

1

Unparalleled Strength

• Headquartered in Wisconsin since our founding in 1925.

• Over $6 billion in assets, nearly $3 billion in policyholders’ surplus, and more than $2 billion in annual written premium.

• Committed to the independent agency system and a fiercely independent mutual carrier—we’re not for sale!

• Rated A+ by both AM Best1 and Standard & Poor’s2 with a 20-year combined ratio of 95.4%—well below the industry average.

2

World-Class Claims Service

• 97% positive claims experience.3

• An Acuity multi-line claims adjuster serves as your customer’s point of contact until a claim is closed.

Responsive and Relationship-Based Underwriting

Extremely broad appetite. No queue underwriting like other carriers – you will get to know your dedicated and openminded underwriter.

Experienced loss control representatives who specialize in risk management solutions. On-staff consultants who specialize in construction, trucking, manufacturing, and retail.

4

Stable and Consistent Market

• Have not pulled back from any class of business or geographic area in over 20 years.

• Over 125,000 businesses insured, with specialization in contractors, truckers, manufacturers, retailers, service providers, offices, and others.

• Over 200,000 personal lines customers protected.

• No growth goals for anyone in the company, so decisions are made with everyone’s long-term interests in mind.

5Impeccable Culture

• Consistently recognized as one of the best places to work in the nation.

• Average annual staff turnover of only 2% to maintain strong agency partnerships.

• Proud to host the World’s Tallest Symbol of Freedom (the tallest flagpole in the world flying a U.S. flag), which is 100 feet taller than the Statue of Liberty!

We’re currently welcoming volunteers to serve on the IIAW’s councils and task forces. Each council and task force will act as a sounding board for the IIAW and will only have four virtual meetings per year - two planning sessions and two webinars. Participation in the IIAW task forces and councils gives you access to industry experts, exclusive networking events and even FREE CE opportunities during virtual meetings when content allows.

Personal Lines Task Force Commercial Lines Task Force

Next meeting: 9 a.m. on Oct. 19

For individuals who are interested in or who have a role in Personal Lines insurance

Industry Relations & Operations Council

For individuals who are interested in or who have a role in Commercial Lines insurance

New for 2023-2024!

Innovation Council

This council is for insurance professionals interested in discussing, learning and exploring new insurance technology while working with IIAW’s technology company, Catalyit. We’ll explore, discuss and promote emerging technology to empower agencies, brokers, vendors and carriers to drive change, transformative growth and efficiency within the industry.

Government Affairs Council Emerging Leaders

For insurance professionals who have an operational or leadership role within an agency or company Next meeting: 9 a.m. on

For individuals interested in staying informed and providing feedback to the IIAW's Board on Wisconsin & national legislative and political happenings

For insurance professionals looking to cultivate their skills for a successful career by engaging in association activities, professional development, education and events

Looking for Support on How to Communicate in this

During these challenging times of rising premiums in a hard market, independent insurance agents are more important than ever.

RESOURCES INCLUDED:

1. An Overview of Market Conditions

2. Expert Advice for Surviving a Hard Market from Savvy Independent Agents

3. Talking Points for Clients

4. Client Email Templates

5. Frequently Asked Questions from Clients

6. A General Communication Timeline to Keep Your Agency on Track

7. Remarketing Strategy Including Standards Document (Fill-in Template)

8. Renewal Process Outlines and Strategy

9. Personal Lines and Commercial Lines Renewal Forms

10. Creative to Help Your Agency Stand Out (Customizable Videos and Graphics)

nice makes you smile.

At Western National Insurance, nice is what’s guided us for over 100 years. And we’re just getting started.

Western National Insurance. The power of nice.

www.wnins.com

EVENT SCHEDULE

LAMBEAU FIELD, GREEN BAY

WEDNESDAY, MAY 15TH

10:30AM-12:30PM

Champions Club Room

AGENCY APPRECIATION LUNCHEON

Aaron Popkey, Green Bay Packers

*This event is open to agency personnel and those receiving a special invite.*

Limited space available on a firstcome, first-serve basis.

Celebrate the heart of our industry at the exclusive Agency Appreciation Luncheon, a gathering dedicated to recognizing our valued agency personnel and esteemed invitees. Hear how the Packers prepare for the 2025 Draft, their marketing strategy and how they respond to negative events from Green Bay Packers Director of Public Affairs, Aaron Popkey. We’ll also feature a fast-paced CEO Q&A.

1PM-4PM Legends Club Room

4:30PM-9PM

Johnsonville Tailgate Village

E&O RISK MANAGEMENT (ETHICS)

Mallory Cornell, IIAW Vice President

MEET GREEN BAY PACKERS HEAD COACH

THURSDAY, MAY 16TH

8AM-9AM

Pre-Function Area

9AM-9:45AM Legends Club Room

CONTINENTAL BREAKFAST

IIAW PAST PRESIDENTS’ PANEL

To Be Announced

Earn 3 Ethics CE credits during Mallory’s Less Risk. More Reward. E&O Risk Management course. This course will be full of storytelling, statistics and E&O risk mitigation tips.

Gear up for an exciting tailgate party, featuring an exclusive Meet and Greet with Packers Head Coach, Matt LaFleur, an exhilarating cornhole tournament, tailgate games and dinner!

Stop by the registration desk outside of the Legends Club Room to pick up breakfast before the panels begin.

We’ll engage in insightful discussions with our four esteemed former presidents of the IIAW, delving into their experiences and perspectives on the industry’s evolution.

10AM-11:15AM

Legends Club Room RISK MANAGEMENT PANEL

Local Green Bay Leaders of Risk and Crisis Management

11:30AM-12:30PM

Legends Club Room

12PM-1:30PM

Pre-Function Area

12:30PM-3:30PM

North Balcony and Pre-Function Area

5PM-6PM

Atrium Floor

6PM-9PM

CEO PANEL

To Be Announced

GOURMET LUNCH

Join us as we listen to local leaders in risk management and crisis management and how they mitigate their exposures. Hear how professionals plan for Packer game day events and other potential hazards that face the city and events in Green Bay.

Gain valuable insights into the insurance industry’s future trajectory from top CEOs in our CEO Panel, as they discuss emerging trends, challenges and innovative strategies shaping the landscape.

Join us for a gourmet lunch prior to our Exhibitor Showcase.

EXHIBITOR SHOWCASE Network and connect during our Exhibitor Showcase on the North Balcony, overlooking the Lambeau Field Atrium. Agency attendees can win great prizes during Blackout Bingo and exhibitor Super Door Prize giveaways.

PAST PRESIDENTS’ COCKTAIL HOUR

EVENING CELEBRATION

Atrium Floor Charles Woodson, Former NFL Defensive MVP, Heisman Trophy Winner and ESPN Analyst

FRIDAY,

MAY 17TH

Join us a cocktail hour preceding the evening’s celebration as we set the stage for a spectacular night with a photo opportunity overlooking Lambeau Field.

Prepare for an unforgettable evening of celebration and inspiration, as we commence with an esteemed awards ceremony and a presentation from Charles Symington, IIABA CEO. We’ll enjoy a delicious dinner and journey through the rich history of the IIAW over the last 125 years. Charles Woodson will lead a keynote presentation that promises to leave a lasting impact. Cap off the night with an exclusive Meet & Greet session, offering the chance to connect with Woodson up close and personal.

9AM-NOON Enjoy your Guided Lambeau Field Stadium Tours and Hall of Fame Tours (included w/ registration) during this time!

HALL OF FAME/STADIUM TOURS

INCLUDED WITH REGISTRATION

INSURCON2024

15-16,

An Evening With Charles Woodson

Agency Appreciation Luncheon (Invite Only) Featuring CEO Q&A and Presentation from Packers Director of Public Affairs, Aaron Popkey

Includes access to Past Presidents’ Cocktail Hour, Charles Woodson Keynote Presentation, complimentary bottle of Charles Woodson whiskey or wine and photo opportunity led by a professional photographer.

Meet Green Bay Packers Head Coach Matt LaFleur

Johnsonville Tailgate Village

Includes Meet and Greet with Green Bay Packers Head Coach Matt LaFleur, cornhole tournament and an ultimate tailgate dinner.

E&O Risk Management Course (3 Ethics CE Credits)

Wisconsin’s Largest Insurance Exhibitor Showcase

Ability to network and win BIG prizes (cash, door prizes and Blackout Bingo prizes).

Insightful Panel Discussions

IIAW Past Presidents’ Panel Green Bay Packers Risk Management Panel CEO Panel

Open to agency personnel, Exclusive Supporting Company Members and those who receive a special invitation. Includes access to the Champions Club (the unofficial stadium penthouse), lunch, a presentation featuring Aaron Popkey and a fast-paced CEO Q&A.

Exceptional Dining Experience

Agency Appreciation Luncheon

Ultimate Tailgate Cuisine During Tailgate Party Continental Breakfast

Gourmet Lunch Overlooking Lambeau Field Evening Celebration Dinner in Lambeau Field Atrium

Guided Lambeau Field Stadium Tour and Hall of Fame Tour

Wrapping up our annual convention with a memorable finale, join us on Friday, May 17th to redeem your guided Lambeau Field Stadium

Tour and self-led Hall of Fame Tour (included with registration)! Closer to the event you’ll receive a separate registration to select your tour time slot.

MEET HEAD COACH

Experience a Packers Tailgate Like Never Before

When You Join Us For Our Johnsonville Tailgate Party

Celebrate our monumental 125th anniversary at the heart of the action - Lambeau Field’s Johnsonville Tailgate Village. Get ready to meet Green Bay Packers Head Coach Matt LaFleur, compete in a cornhole tournament, enjoy our DJ for the evening and an excellent dinner.

Schedule for the evening:

• 4:30PM to 6:30PM Meet and Greet

• 7PM-9PM Dinner, Cornhole Tournament, Tailgate Games and DJ

KEYNOTE SPEAKER

An Evening With Charles Woodson

Charles Woodson is an 18year NFL veteran, former NFL Defensive MVP and Heisman Trophy winner. He is a Super Bowl champion, nine-time Pro Bowl defensive back and was inducted into the Pro Football Hall of Fame in 2021.

CHARLES WOODSON

Former NFL Defensive MVP, Heisman Trophy Winner and ESPN Analyst

A champion both on and off the field, Charles has also formed the Charles Woodson foundation, providing scholarships to incoming students at the University of Michigan in need of financial aid. Additionally, Charles has pledged over $2 million to the University of Michigan C.S. Mott Children’s Hospital and established the Charles Woodson Clinical Research Initiative to support critical research projects that show promise of significant improvements in kids’ quality of life and longevity.

Woodson is also an oenophile who developed an interest in wine while playing football for the first time in Oakland, near the Napa Valley. He partnered with O’Neill Vintners to develop a signature wine label, “Charles Woodson’s Intercept.”

Don’t miss out on hearing Charles’ Keynote Presentation, concluding our Evening Entertainment on Thursday, May 16th. Following his presentation, you’ll be able to take home a bottle of his wine or whiskey (included with your registration) and there will also be a photo opportunity with Charles led by a professional photographer.

REGISTRATION INFORMATION

INSURCON2024 • MAY 15-16, 2024 •

LAMBEAU FIELD, GREEN BAY

Attendee Registration Fee

InsurCon2024 is an all-inclusive event filled with one-of-a-kind experiences. This year’s convention transcends the ordinary, as we celebrate 125 years of excellence, making it a truly exceptional celebration you won’t want to miss. IIAW members can save their spot and maximize savings by registering early!

Register in September-October: $299

Register in November-April: $349

Register in May: $379

Non-Member Pricing (September through May): $549

Dress Code

During sessions on Wednesday and Thursday, our dress code will be business casual for the events at Lambeau Field. Tailgate attendees can dress casual for this event.

For more information, please visit our website, iiaw.com/insurcon.

Questions

Please call the IIAW at 608-256-4429 or email info@iiaw.com with any questions. Refer to iiaw.com/insurcon for complete event details.

Hotel Information

There are several hotel options in the vicinity to suit your accommodation needs. Whether you prefer luxury, comfort or convenience, you’ll find a range of nearby hotels to choose from.

Lodge Kohler: 1950 South Ridge Rd. in Green Bay (across from Lambeau)

Hilton Garden Inn Green Bay: 1015 Lombardi Ave. in Green Bay (0.5 miles away from Lambeau)

Home2Suites by Hilton Green Bay: 810 Morris Ave. in Green Bay (0.5 miles away from Lambeau)

SpringHill Suites by Marriott Green Bay: 1011 Tony Canadeo Run in Green Bay (0.7 miles from Lambeau)

Tundra Lodge: 865 Lombardi Ave in Green Bay (0.9 miles from Lambeau)

Event Parking

For your convenience, we recommend parking in front of the American Family Gate, both for hasslefree registration and seamless navigation throughout the event. The dedicated IIAW and Lambeau Field staff will be readily available throughout the event space, ensuring you’re guided to your destinations with ease.

GRAPHIC DESIGN SERVICES FOR YOUR AGENCY

Who Is Best Fit For Our Services

Our services are best fit for agencies lacking a graphic designer on staff or agencies looking for additional design knowledge and support.

About Our Designer

As an experienced graphic designer, Kaylyn is the point-of-contact for the IIAW’s Graphic Design Services. Kaylyn has a Bachelor’s Degree in Journalism as well years of print and digital marketing experience. She is our in-house designer and she has also worked with other state associations on their graphic design projects.

HOW TO SUCCEED IN A HARD MARKET

Join us for an afternoon of learning, hosted by the IIAW Emerging Leaders. Eric Kuhen from MarshBerry will guide us through a series of sessions to help improve your strategies and skills in a hard market. You’ll learn how to better communicate your value in a hard market, improve your strategy for growing organically, boost your internal culture and more! Drinks and apps will follow the presentation from 5 to 6:30 p.m. This event is open to everyone.

WHEN: 1 P.M. TO 5 P.M. (HAPPY HOUR TO FOLLOW)

NOVEMBER 2, 2023

WHERE: PARK HOTELTOP OF THE PARK ROOM (8TH FLOOR)

22 S CARROLL ST. MADISON, WI 53703

COST: $25 FOR IIAW MEMBERS ($149 NON-MEMBERS)

FEATURED SESSIONS:

HOW TO COMMUNICATE YOUR VALUE IN A HARD MARKET

Eric Kuhen, MarshBerry, will share the language and strategy you need to communicate and grow, how to understand the importance of an association or network partner to achieve growth goals and create a strategy and succession plan for your firm to move forward in the current market.

STRATEGY FOR GROWING ORGANICALLY

This session discusses the keys to creating a vision and setting goals that are challenging but attainable, how to develop strategies for objective achievement and how innovation & competitive differentiation are the keys to profitable development.

REGISTER NOW: IIAW.COM/EVENT/MARSHBERRY

KEYS TO ASSESSING YOUR SALES CULTURE

You’ll understand how a sales culture assessment can provide perspective on the inner workings of your agency, the four focal points of sales culture assessment and how to use the results to drive change. Attendees will have access to a complimentary Sales Culture assessment for their agency.

AUTO INSURANCE SHOPPING UP 12%

Auto insurance shopping rates rose 12% in the second quarter of 2023 compared to the same time in 2022, according to TransUnion's latest quarterly “Insurance Personal Lines Trends and Perspectives Report."

After the consumer price index for auto insurance rose 17% in June 2023 compared to June 2022, according to the U.S. Bureau of Labor Statistics, consumers searching for lower insurance premiums was the primary cause of the increased shopping.

Increased vehicle sales also contributed to the jump—in June, J.D. Power estimated a 23% boost in new vehicles sales year-over-year—while used car sales have decreased slightly thanks to improved new vehicle inventory.

Among higher risk consumers, defined as those with a credit-based insurance score of 300-500, the percentage of auto insurance shoppers rose 25% year-over-year. Moderate risk consumers, with a score of 501-700, rose 11%. Lower risk consumers with a score of 701 and higher actually outshopped their moderate risk counterparts at 16%.

“There was a drop in shopping activity among riskier consumers in Q2 2022, partly due to insurers' reduced marketing spend; however, we saw a rebound in activity from that segment in Q2 2023," said Stothard Deal, vice president of strategic planning for TransUnion's insurance

business. “Lower risk consumers have been consistently shopping at higher rates for the past 12 months."

Homeowners shopping had increased earlier in the year, and while shopping behavior is still elevated, it shows signs of slowing down. Homeowners shopping rates rose 13% in the second quarter of 2023 compared to the same time last year—but decreased 7% from the first quarter of 2023. The decrease is probably attributable to increasing interest rates and high home prices, TransUnion said.

The first quarter of 2023 brought the U.S. property & casualty insurance industry a net underwriting loss of $7.34 billion, the report said, a first-quarter loss not seen since 2011.

“The industry as a whole will continue to react to profitability challenges," the report noted. “As insurers seek rate adequacy through price increases, they are taking short-term loss mitigation actions, including limiting distribution channels, strengthening underwriting on new business, selling policies only as part of a multiline bundle or even withdrawing from some geographic markets."

This article was originally published on iamagazine.com in August 2023.

THE DRIVE TOWARD AI IN THE COMMERCIAL AUTO INSURANCE MARKET

It is estimated that there are over 3.5 million truck drivers in the U.S. today, according to TruckInfo.net, hauling 72.6% of the nation's freight tonnage shipped, valued at $940.8 billion in gross freight revenue in 2022, according to the American Trucking Associations. Meanwhile, the frequency and severity of commercial auto and trucking losses, social inflation and nuclear verdicts—along with increasing medical costs and driver shortages—are continuing to adversely impact the market.

As the use of technology continues to revolutionize most industries and improvements in artificial intelligence (AI) come to the forefront, it begs the question: How will the increasing penetration of technology and AI impact the trucking industry?

“In this marketplace, we are seeing some programs that actually underwrite a portion of their underwriting using telematics data specifically," says Jennifer Nuest, senior vice president, transportation practice leader, Amwins. “We're starting to see a lot of carriers invest more and figure out a model that can incorporate telematics data to electronic logging devices (ELDs)."

“The highest potential right now for technology comes with GPS data because it very clearly improves upon a data source that underwriters are using in this realm," she says.

By using real-time data, underwriters have a direct insight into the driver's location, allowing them to understand whether it is urban driving, residential driving, interstate driving or country driving.

“The desire to have transportation clients share their driving behavior data from their ELDs with insurance providers has certainly been on the rise these last few years, and more transportation clients are embracing the benefits of doing so," says Mark Gallagher, vice president national transportation, RPS. “We will see a rise in this over the next few years as more education becomes available as to the benefits of doing so—AI can be a tool that provides some efficiencies in harnessing and better understanding that data in the future."

Developments in data capture will enable the industry to more accurately rate individual clients. While “different vendors capture that data differently, insurance carriers and programs are starting to develop models that are predictive based on driving behavior data, because that

is the consistent behavior of that fleet," Nuest says. “The problem today lies in the fact that plaintiff attorneys are going to continue utilizing Compliance, Safety, and Accountability (CSA) and the Inspection Selection System (ISS) scores to convince juries that a motor carrier is operating unsafely. Telematics data can paint a different picture, as these scores are based on violation data of when drivers did something wrong."

Nevertheless, the potential benefits of capturing and utilizing this data for the industry are vast. AI can help with minimizing downtime caused by mechanical failure by using algorithms that predict vehicle maintenance while also optimizing routes, fuel consumption and reducing emissions.

Additionally, the potential for improved safety features through AI is set to benefit the industry overall. The integration and adoption of safety features, such as the use of cameras, is becoming the norm for some companies.

“Some technology offerings are deep into AI where they can actually help coach the driver when it is identified, for example, if a driver ran a red light. There is just an increased speed to the coaching of the driver with a video camera vendor," Nuest says. “We're seeing a lot higher adoption of this, whether companies are required to or not, especially because many trucking companies are seeing where it helps exonerate them in claim cases."

Some carriers may offer incentives when it comes to the use of cameras or telematics devices. “This is one of those things where agents really need to pay close attention," Nuest explains. “Some carriers require specific vendors to be used and they may or may not provide these vendors equipment, or they may say you get a subsidy for their use."

“On the other hand, several of the big telematics and video vendors have referral programs for agents, so if you understand their product and how they operate typically, you'll get some type of referral fee and maybe a discount for the insured," she adds.

This article was originally published on independentagent.com in August 2023.

LEVERAGING GOOGLE MY BUSINESS AND REVIEWS

One of the most effective ways to enhance your agency’s visibility on Google is by optimizing your Google My Business (GMB) page. An updated listing with at least 10 reviews can help your business appear in search results, positively impact your online reputation, and help attract new clients.

Customers are 42% more likely to request driving directions to a business if its Business Profile has photos, and 35% more likely to click through to its website, according to Google. Furthermore, a BrightLocal study showed that businesses with more than 100 photos get 520% more calls, 2,717% more direction requests, and 1,065% more website clicks than the average business.

In this blog post, we will explore four key practices for keeping your GMB page optimized and maximizing the power of customer reviews.

1) Create and Optimize Your GMB Page.

If you haven’t already done so, it’s easy to create a GMB page for your agency. This free tool from Google provides a platform to showcase your business to potential clients. When setting up your GMB page, make sure all your business information is up to date including your address, business hours, website links, and phone number.

2) Showcase your agency with photos.

Adding photos to your GMB listing can help you showcase your agency’s personality. Consider sharing photos of your agency’s office, team members, and community events. High-quality and visually appealing photos can give customers a great first impression and insight into who you are.

3) Ask for reviews.

To grow the number of reviews on your GMB page, you will need to proactively ask customers to leave a review. Here are a few strategies to get you started:

• After a phone call or meeting: When you have a positive interaction with a client, take the opportunity to request a review. Satisfied customers are often willing to share their experiences.

• Utilize business cards and email signatures: Include a link to your GMB page on your business cards and add it to your email signature. This allows customers to easily access your page and leave a review.

• Follow-up emails: After binding a policy, send a friendly follow-up email thanking the customer for their business and kindly request them to leave a review if they were satisfied with your services.

• Incentivize your sales team: Encourage your sales team to ask for reviews by incentivizing them. Offer rewards or recognition for team members who consistently gather positive feedback.

• In-store signage: If you have a physical location, display signage asking customers to leave a review on your GMB page. Make the process as simple as possible by providing clear instructions or a QR code.

• Website and social channels: Promote your GMB page on your agency’s website and across your social media channels. Directly ask your followers to share their experiences and leave reviews

4) Engage with reviews.

Regardless of whether the feedback is positive or negative, always respond to customer reviews. Engaging with reviews shows that you value your customers’ opinions and are committed to providing excellent service. Responding to positive reviews with gratitude further strengthens your agency’s reputation, while addressing negative reviews in a professional manner demonstrates your willingness to resolve issues and improve customer satisfaction.

Optimizing your GMB page and actively managing customer reviews can significantly enhance your agency’s visibility on Google. By following these four practices, you can strengthen your online presence, attract more potential clients, and establish a positive reputation in your industry.

This article was originally published on trustedchoice.com in June 2023.

I nd u st r y lead i ng resu l t s?

Yes!

G reat place to work?

Yes!

Com m it ment to t he i nd epend ent ag enc y mod el?

Yes!

West B end has been providing peace of mind for our over 1 , 50 0 agenc y par tners through exceptional ser vice relationships for over 125 years .

To find out more visit thesilverlining .com .

IF YOU AREN'T USING CHATGPT YET, HERE'S WHERE TO START

In today's fast-paced and ever-evolving world, insurance agents are constantly seeking innovative ways to enhance their marketing and streamline their operations. This is where ChatGPT, an advanced language model, comes into play as a valuable tool for insurance agents. With its ability to understand and generate humanlike text, ChatGPT can revolutionize the way insurance agents interact with their clients and market their business.

“But what is ChatGPT? Let’s ask ChatGPT directly!”

“ChatGPT is an advanced language model that utilizes deep learning techniques to understand and generate human-like text. When a user inputs a message, ChatGPT analyzes the text and generates a response based on patterns and information it has learned during training.”

In other words, ChatGPT is a conversational tool that was trained on an enormous amount of actual humanwritten sentences and words found online in order to respond with a human-like response to any question or prompt you can think of.

While the technology is not perfect – there are some creative use-cases for independent agents.

Creation of Blog Posts for Agency Website

Tired of writing blog posts for your agency website? Use ChatGPT to generate that blog post. Not sure on a topic? Let ChatGPT generate some ideas. Be careful though – ChatGPT is a chatbot, not a human so the content it writes needs to be reviewed for accuracy.

1. Start an Email

Stumped on how to write a certain email? Describe what you are trying to convey and ask ChatGPT to write it. This is a great way to start an email that you can edit, tweak and update to make your own.

2. Summarize News Articles

Is there a long article or report that you don’t have time to read? Copy and paste the article text asking ChatGPT to summarize the article. Read more in less time!

3. Writing Email Campaigns

Allow the bot to generate email campaigns (or a series of emails) for you to use. For some reason, the creators at OpenAI didn’t think to consider the E&O risks that emails and communication from agents can create. Don’t forget to review and update the response as needed.

4. Generate Social Media Posts

Need some ideas or inspiration for social media posts? ChatGPT not only can give you ideas on what to share on Facebook, LinkedIn or other social media pages but it can also help you write a description.

5. Review Letters, Emails and Proposals

Have the technology review what you have written. Unsure if your email or letter is missing something and want to improve it? Copy and paste it into ChatGPT and ask for a review!

By harnessing the power of this advanced language model, agents can leverage its ability to generate human-like text and transform the way they interact with clients and promote their business. While it's important to review and edit the content produced by ChatGPT for accuracy, this technology opens up new possibilities for independent agents to enhance their efficiency. Embrace the potential of ChatGPT today and explore the creative ways it can empower your insurance agency in this fast-paced digital landscape.

5 MID-YEAR LABOR MARKET TRENDS

Where has 2023 gone? It's a question I keep asking myself, and I'm guessing many of you are asking the same thing. A lot has happened—inflation rates are going down, fuel prices are $1 less than this time last year in many places, and grocery prices dipped in March for the first time since 2020. That's all good news, right?

Not so fast. At the same time, tech, media, finance, and, most recently, retail organizations have announced layoffs of thousands of workers. That's bad news, right? But the economy has added an average of 341,000 jobs every month during the last 12-month period. The 2023 labor market has economists, business leaders, and a lot of others scratching their heads.

According to Affinity HR's “2023 Mid-Year Labor Market Study," here are five trends that have emerged so far this year:

1) Recruitment and unemployment. The U.S. added 209,000 new jobs in June 2023, according to the Bureau of Labor Statistics. While this is a more modest number than in the past few months, it remains significantly high. As does the unemployment rate, which remains quite low at 3.6%.

Don't assume that a decreased number of job openings and possible layoffs mean that recruitment will be easier in 2023. This remains a volatile labor market. If you recruit for entry-level positions, anticipate continued high demand for candidates. Regularly review and update your application process, consider mobile-optimized applications, submissions via LinkedIn and other social networks, and one-click job applications if you don't already have them.

2) Wage growth. The Economic Research Institute updated its salary increase projections for 2023 to 3.79% and salary structure increases to 2.91%. These

projections are slightly higher than the 3.5% salary increase and 2.7% salary structure projections made back in January.

Wage growth will continue to vary significantly by occupation type and geography. Remain aware of the differences in all the markets where you operate. Develop and implement a long-term salary planning process that addresses current and anticipated labor market issues.

Also, conduct a review at least annually of your current pay policies for competitiveness and anticipate the need to increase wages to recruit and retain talent. If raising pay is necessary to hire new talent, review pay levels for current, experienced employees to ensure internal equity and minimize salary compression.

3) Minimum wage. Currently, 19 states index minimum wage changes to cost of living increases. Expect more states to adopt these types of indexed changes in the absence of any federal minimum wage legislation.

However, minimum wage changes may not be statewide and may not take effect on January 1. Also, you must understand the differences between specified minimum wages and prevailing wages. The U.S. Department of Labor reports that North Dakota and South Carolina were among the states with the highest wage growth in 2022. Both states have a current minimum wage of $7.25.

Keep informed of what's happening at federal, state and local levels in all the locations where they do business via The Economic Policy Institute's Minimum Wage Tracker.

4) Legislative outlook. Paid family leave is not likely to be a federal legislative priority for the remainder of President Joe Biden's term. The debt ceiling deal

reached in early June does not provide funding for the creation or expansion of any paid leave programs. There hasn't been much activity at the state level on this issue either. Eleven states and the District of Columbia now offer some type of paid family leave for employees; no states have added paid family leave legislation so far in 2023.

Legislation often happens more quickly at the state and municipal levels than at the federal level. Identify the resources necessary to stay informed of changes and new requirements and consult them regularly. Also, recognize that offering paid family leave may offer a competitive advantage in hiring and retention.

5) COVID-19. May 11 marked the end of the COVID-19 Public Health Emergency, which had been in place for more than three years. However, saying the emergency is over is proving to be quite different. The U.S. Centers for Disease Control and Prevention reports that about 40,000 people have died of COVID-19 so far this year, and the disease was the fourth leading cause of death in the U.S. in 2022.

More significantly, enhanced benefits authorized through the Supplemental Nutrition Assistance

Program (SNAP) and funded by the federal government are now being rolled back by individual states.

A recent New Yorker article reported that the average SNAP recipient is expected to lose about one-third of their monthly allotment. Approximately 40 million Americans receive SNAP benefits.

During the pandemic, individual states received additional federal funding to expand their Medicaid programs. As a result of this expansion, the uninsured rate in the U.S. fell to 8%. But states are now able to start purging their Medicaid rolls, which was prohibited during the Public Health Emergency, and the CDC estimates that up to 15 million people could lose their health coverage in 2023. Medicaid and the Children's Health Insurance Program (CHIP) currently cover about 93 million people.

This article was originally published on iamagazine.com in August 2023.

NAIC RELEASES DRAFT OF AI BULLETIN

Artificial intelligence (“AI”), formerly fodder for the science fiction film industry, has evolved and penetrated a variety of other industries in the past couple decades. Yet it has only relatively recently taken a more visible role in business and insurance. Many of you may already be using ChatGPT and other generative AI tools, and no doubt you have seen the migration of AI into the insurance industry. Companies have recognized that AI can be highly beneficial, helping them do things like conduct market research, answer customer questions, and advertise more efficiently. As is often the case, innovation leads to cries for regulation, and AI is no exception.

On July 17, 2023, the National Association of Insurance Commissioners (NAIC) Innovation, Cybersecurity, and Technology Committee responded to concerns about the use of AI in the insurance industry, releasing a draft of its Model Bulletin on the “Use of Algorithms, Predictive Models, and Artificial Intelligence Systems by Insurers.” Once finalized, the Model Bulletin would become a template for insurance regulators to use in drafting their own notices to insurers regarding the usage of AI systems. The NAIC is accepting written comments regarding the draft Model Bulletin until September 5, 2023. And, while the Model Bulletin is aimed at insurers, the integration of systems in the insurance marketing space means that agents and brokers must also take note and be prepared to meet the demands of the shifting regulatory landscape around AI.

As currently constructed, the draft Model Bulletin encourages insurers to maintain a written program for their use of AI systems (an “AIS Program”) that is designed to ensure accuracy and compliance with all applicable legal and regulatory standards. In general, an insurer’s AIS Program should be designed to mitigate the risk their use of AI systems causes them to act in ways that are arbitrary, capricious, unfairly discriminatory, or illegal. To accomplish those objectives, the AIS Program should include a governance framework for overseeing the insurer’s use of AI systems. According to the NAIC, this framework should, among other things, address the standards that the insurer used to develop its AI systems, the procedures to be followed at each stage of an AI system’s life cycle, and procedures used to document compliance with the AIS Program.

The AIS Program should contain risk management and internal controls, such as those that cover the oversight and approval process for adopting AI systems, govern the way in which AI systems are tested or audited, protect non-public information from improper disclosure, and retain data and records. Insurers should also draft a narrative description of their models’ intended goals and objectives to ensure that any AI system that relies on these models correctly and efficiently implements these goals and objectives.

The draft Model Bulletin also includes guidelines for how the AIS Program should guide an insurer’s use of third-party AI systems—this is an area where your agency or brokerage may be one of the third-parties whose AI systems are at issue. These guidelines include developing procedures that ensure the third-party AI systems satisfy the same legal standards imposed on insurers, as well as protocols that address the performance of audits and other confirmative activities to ensure the third party’s compliance with contractual and regulatory requirements. Moreover, any contract with a third-party AI vendor should have terms that enable insurers to perform these audits and require the vendor to cooperate with regulatory inquiries and investigations.

Finally, the draft Model Bulletin explained the sorts of information that insurance regulators would request in the event of an investigation or market conduct action. For example, insurers would be expected to have information regarding their AIS Program or decision to not develop or adopt one, its audit procedures, and how they ensure compliance with its AIS Program. They can also expect to receive requests from regulators regarding their usage of any third-party AI systems.

Given the insurance industry’s increasing reliance on AI systems and the potential for additional regulatory oversight, it is important to stay abreast of not only the NAIC draft Model Bulletin, but the legal and regulatory standards applicable to your use of AI. If you want to ensure that your AIS Program facilitates compliance with these standards, you should consult with legal counsel.

2023 ONLINE EDUCATION & CE CLASSES

SEPTEMBER

SEPTEMBER

Members in the News

ACUITY HEALTH CHALLENGE RAISES OVER $12K TO BENEFIT NEONATAL INTENSIVE CARE

in serving Society Insurance policyholders.

In recognition, Society donated $250 to the Sharon S. Richardson Community Hospice in McPhee’s name.

As a senior human resources generalist, McPhee heads Society’s strategic recruiting efforts, state expansion staffing and intern program. Nominators cited her unique ability to frame each job opening via the customer experience lens of Society’s clients. This approach delivers on the company’s mission to protect the dreams, passions and livelihoods of its policyholders.

Leading with a positive attitude and enthusiasm that co-workers praise as contagious, McPhee seeks to create a perfect match between Society and each new hire. Employees enter with a deep understanding of the company’s business, its culture and what makes Society an insurer – and employer – of choice.

Sheboygan, WI (7/28/23) - Acuity Insurance announced that the 2023 Acuity Health Challenge raised more than $12,000 to benefit the Acuity Neonatal Intensive Care Unit (NICU) at the Acuity Birthing Center of Aurora Medical Center-Sheboygan County.

“Having a NICU available in Sheboygan helps the community by allowing parents of children in need of intensive care to obtain that care locally, rather than having to travel,” said Melissa Winter, Acuity President.

“We are proud to sponsor the Acuity Health Challenge,” said Ben Salzmann, Acuity CEO. “This annual event reflects our commitment to wellness and our support for the wellbeing of the entire community.”

In its 11th year, the Acuity Health Challenge featured a 5K or 2-mile run/walk. More than 550 people completed the Challenge this year, an increase of more than 20 percent from last year.

Jack Gasparick took first place in the men’s division, and Maggie Behler captured the top spot in the women’s division. In addition to the Challenge itself, participants and spectators were welcomed to the event by Acuity’s Vendor Village, which hosted a variety of local vendors who help sponsor the highly anticipated goody bags provided to participants of the Challenge.

Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures over 125,000 businesses, including 300,000 commercial vehicles, and nearly a half million homes and private passenger autos across 31 states. Rated A+ by AM Best and S&P, Acuity employs more than 1,600 people.

ROSE MCPHEE WINS SOCIETY INSURANCE CUSTOMER EXPERIENCE AWARD

Insurance is a business of people and promises, where trusted relationships are critical. Finding and hiring the right professionals to honor insurance promises is the engine that powers success for Society’s policyholders and independent agents. With McPhee, Society has the right person in the driver’s seat.

ABOUT SOCIETY INSURANCE | Headquartered in Fond du Lac, Wisconsin, Society Insurance has been a leading niche insurance carrier since 1915. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota, Tennessee, Colorado, Georgia and Texas.

SECURA INSURANCE PROMOTES TWO COMPANY LEADERS

Neenah, WI (8/22/23) - SECURA Insurance promoted two company leaders: Brian Gruender, Vice President–Software Engineering and John Oehler, Vice President–Workers' Compensation.

“Brian and John have proven themselves to be great leaders of our people and our culture, and they are also able to drive results that align with our business plans," said Garth Wicinsky, SECURA President & CEO.

Brian Gruender, Vice President–Software Engineering

Brian has more than 25 years of IT industry experience. He joined SECURA in 2010 as an analyst programmer and has held a variety of positions since then, including business analyst, IT supervisor, and IT director. The variety of roles he's held helped him broaden his exposure and skill set while working on many different projects. Brian earned his Master of Science in organizational change leadership from the University of Wisconsin–Platteville.

John Oehler, Vice President–Workers' Compensation

Fond du Lac, WI (7/31/23) - Rose McPhee recently received the Society Insurance Customer Experience Award in a brief ceremony. This award is presented to an employee nominated by his or her colleagues for exceptional efforts

John has more than 20 years of insurance industry experience. He joined SECURA in 2013 as a workers' compensation claims supervisor. He was promoted to director of casualty claims in 2019, and he became the director of workers' compensation in 2021. John earned his MBA from the University of Wisconsin–Oshkosh.

ABOUT SECURA INSURANCE | SECURA Insurance, headquartered in Neenah, Wis., is a regional group of property-casualty insurance companies operating in 13 states. Approximately 550 independent insurance agencies represent the group, which provides a broad range of competitive commercial, personal, farm, nonprofit, and special events products. SECURA Insurance is known for providing exceptional service to its agents and policyholders since 1900, and is rated A (Excellent) by A.M. Best for its excellent ability to meet policyholder obligations. It is a Ward’s Top 50 company for outstanding results in financial performance and consistency over a fiveyear period, and it is a certified Great Place to Work. Visit www.secura.net to learn more.

J.M. WILSON HIRES FRITZ AS ASSISTANT MARINE UNDERWRITER

Prior to joining JM Wilson, Amy gained experience as a paralegal at a law firm specializing in insurance-related litigation. Additionally, she served as a claim representative for State Farm handling a range of cases including PIP, Fire and Casualty, and S.I.U. Amy is a graduate of Davenport University, where she earned an associate degree in computer technology support. In addition, she has earned CPCU (Chartered Property Casualty Underwriter), AIC (Associate in Claims), and AIDA (Associate in Insurance Data Analytics) designations.

Founded in 1920, JM Wilson is a family owned and operated Managing General Agency and Surplus Lines Broker providing independent insurance agents access to A rated specialty markets. JM Wilson offers coverage for standard and hard-to-place Commercial Transportation, Property & Casualty, Brokerage, Marine, Personal Lines and Surety accounts in 47 states across the U.S.

For more information about J.M. Wilson, call (800) 666-5692 or visit www.jmwilson.com.

ARE

Portage, MI (8/25/23) - JM Wilson is excited to announce the addition of Amy Fritz as Assistant Marine Underwriter. Her responsibilities include providing vital support to underwriters on a wide variety of new and renewal marine risks, as well as maintaining relationships with carrier underwriters and independent insurance agents in all states that JM Wilson writes.

YOU AN IIAW SUPPORTING COMPANY MEMBER?

Send your press releases to kaylyn@iiaw.com for a chance to be featured in our monthly Members in the News section.

Not a member? Become one today at iiaw.com.

In 1919, A group of Pennsylvania farmers founded Penn National Insurance to provide affordable workers’ compensation insurance.

Today, Penn National Insurance sells property-casualty insurance in 11 states by partnering with more than 1,200 independent agency operations. In 2012, we affiliated with Wisconsin-based, Partners Mutual Insurance Company. As one company, we bring the personal attention and local focus of a regional carrier, along with the quality of products and ser vices of national carriers.

Interested in partnering with a thriving insurance carrier with superior customer experience? We are looking for select commercial-lines agencies in Wisconsin.

Contact: Vicki Lentz 262-432-3420

vlentz@pnat.com

Contact: Clayton Zogata 715-383-5454

czogata@pnat.com

• Strong financial performance and A.M. Best Financial Strength Rating of A-

• Expanded Commercial Lines products and services with competitive pricing and comprehensive coverages to help our agents grow profitably

• Comprehensive Personal Lines product offerings, including Homeowners Equipment Breakdown and additional protection plans

• State-of-the-art quoting, processing and self-service tools, making it easier and faster to meet your customers’ needs

• Local, experienced underwriting, claims and management staff

GOVERNMENT AFFAIRS