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TRANSCRIPT
INDEPENDENT INSURANCE AGENTS OF SOUTH DAKOTA
February 2018
2018 Day at the Capitol
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MESSAGE FROM IIASD’s 2018 PRESIDENT
Good Day IIASD Members and Partners,
I am both humbled and honored to assume my role as President of the IIASD for 2018. I would like to thank the association and members for allowing me to serve and be a part of an organization that not only gives back, but allows for friendships, collaboration, and advocacy for our great industry.
We are looking forward to sharing another exciting and productive year with all our members. As an office and board, we are thrilled with carrying the momentum of past years and continue to evolve and grow our association. Our membership is strong. Our events are well attended, and we appear to be delivering a great message to the public, members, government affairs, and company partners.
There will be several opportunities available throughout the year to meet for continuing education as well as networking with our peers and industry personal. I can unequivocally say, that without my involvement in the Big “I,” several opportunities, both professional and personal may not have happened if it wasn’t for involvement. I encourage ALL agency principals to promote and grow participation in our events this year, and we will deliver.
With the newly elected position, I have been asked several times what my “mission” or “plan” will be for 2018. I think that the answer is simple and two-fold. First, it is my hope we continue to support and provide our office staff the tools needed to keep our momentum going. With Carolyn’s leadership, and the teamwork of Megan and Kayla, I am confident that we are going to see great things in 2018. Secondly, it is my hope our association can provide its members with value-added services and information of what IIABA national can do for you. We have a goal, with collaboration with our Young Agent’s Committee, to provide short “did you know” videos on what is available from both the state and national association. I won’t spill all the beans on topics, but a brief list includes: Big I Markets, Company Contract Reviews, Cyber Policy Implementation, Co-op Advertising, and trust me….much…much more!
We are looking for a productive and successful year, and again thank you for your past, current, and future support of the IIASD!
Best Regards, Jesse Konold, CIC, AFIS
Key Insurance Inc. Mobridge, SD
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2018 OFFICERSPRESIDENT
Jesse KonoldKey Insurance Inc.
Mobridge, SD
PRESIDENT-ELECTDerrick Linn
Leavitt Heartland Ins. ServicesSturgis, SD
VICE PRESIDENTJohn Meyen
Rosholt Insurance AgencyRosholt, SD
SECRETARY-TREASURERJosh Gilkerson
Fischer Rounds & Assoc.Pierre, SD
PAST PRESIDENTAnnette Conway
Black Hills Agency IncRapid City, SD
IIABA STATE NAT’L DIRECTORDan Maguire
Black Hills Agency IncRapid City, SD
2018 DIRECTORSDISTRICT # 1
Josh GilkersonFischer Rounds & Assoc.
Pierre, SD
DISTRICT # 5Elizabeth Nepodal
Fidelity AgencyPlatte, SD
DISTRICT # 2Mindy Huntington
Fischer Rounds & Assoc.Watertown, SD
DISTRICT # 6John Meyen
Rosholt Insurance AgencyRosholt, SD
DISTRICT # 3Melanie Parsons
Parsons’ Insurance AgencyViborg, SD
DISTRICT # 7Amy Bailey
Starr InsuranceCuster, SD
DISTRICT # 4Amy Olson-Miller
McKinneyOlson InsuranceSioux Falls, SD
DISTRICT # 8Deana Taylor
Agents of InsuranceRapid City, SD
EXECUTIVE VICE PRESIDENTCarolyn Hofer
IIASDFort Pierre, SD
INDEPENDENT INSURANCE AGENTS OF SOUTH DAKOTA
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South Dakota93rd
Legislative Session
If you’ve never witnessed or been involved with SD Legislature, it would be worth your time to make a trip to Pierre to see how our state government functions. It’s a fascinating process. Tracking leglislation under consideration by committees and following it into the House and Senate is fairly convenient as all testimony, action and voting is available in audio and PDF format. Log into www.sdlegislature.gov to access the documentaiton. You will often find our office staff listening in on committee meeting sessions to hear testimony and voting results on bills we are following. Jerry Diamond, our staff lobbyist, is up at the Legislature every day keeping a finger on the pulse and offering testimony whennecessary. Keep informed on issues by reading the weekly IIASD legislative reports and respond ASAP to the grassroots emails. We advocate for you here in Pierre but you are the one who elects your Senators and Representatives. They need your vote and care about your opinons. Contact information for your legislators can be found on the above website under the FIND MY LEGISLATOR tab at the top of the page. Bills of interest to IIASD members this session include: renewal process for business insurance entities (HB1033) requirement to locate or identify beneficiares on life and annuity contracts (HB 1034); revisions related to fees charged for creditfreeze (HB1127); revisions on multiple employer trusts (HB1287); changes to process of obtaining CDL (SB22) and revise limits on bad faith work comp claims (SB145). There are other bills we watch with a neutral position as amendments often change the consequences. Legislators come with a wide variety of agendas and insurance is a complicated industry. Often, with your information, agreement or opposition to the bill, you can change the vote of your legislators. Your involvement is crucial. Even as members, we don’t always agree. We need to hear your side of the argument to do the best job for you in Pierre. Keep informed and stay involved. Legislative Contacts:Jerry Diamond; [email protected]; 220-0281Carolyn Hofer; [email protected]; 222-0649
E&O EDGE – Megan Linn, E&O Administrator
The E&O Perils of Handling Unfamiliar Products and Exposures
By Matthew Davis
Speaking of his experiences in space, Neil Armstrong said, “I think we tried very hard not to be overconfident, because when you get overconfident, that’s when something snaps up and bites you.”
Knowing what you can and can’t do isn’t rocket science—it’s one of the core pillars of professionalism.
In the pantheon of avoidable professional liability errors, a place of honor is reserved for “dabbling.” In an insurance context, that means wandering into unfamiliar territory with your client’s property, wealth and reputation in your uncertain grasp, armed with the optimistic conviction that “This can’t be that hard!”
Imagine that a new customer comes to you in your Midwestern office and tells you they need homeowners coverage because they’re planning to sign the purchase papers on a vacation home that afternoon. You smile broadly because you’re the King of Personal Lines in Topeka (according to your website) and turn to your computer to begin the application process.
But do you have a moment’s hesitation when the client tells you the new property isn’t located in Kansas, but rather on the Florida coast? Do you know, for example, whether the HO policy form there covers wind? What about flood? How does the cost of coverage compare?
You’re drawn from your musings by a new word: “boat.” Of course there’s a boat associated with the new oceanfront property. That’s not a problem for you, though, because you insure lots of boats on various Kansas reservoirs. But might there be some new issue with a boat docked on the Gulf of Mexico?
The client interrupts you again to inform you that they also have an existing roofing business that needs coverage.They want you to handle the impending renewal as agent of record. Some of the terms the client uses to describe the business are not entirely familiar to you—what does “torch down” mean?—but you put off that question until a more convenient time.
Coverage is already in place for the roofing business. Right now, your client wants to discuss a newbusiness: the Fun Bus.
The client tells you $1 million limits will do for this little side business, so you make a note of her instructions.
But the business is flying so fast and furious that you don’t have time to consider such questions as: How many occupants will the Fun Bus transport? Who will operate it? It never even occurs to you to ask whether the state of Kansas (or Florida?) has any statutory requirements for minimum coverage on such a vehicle. And what about the workers compensation policy that would be necessary to cover any employees moving back and forth between the two locations?
The policy in place, recently renewed, provides “all states” coverage. Surely “all states” means exactly what it sounds like, so employees can live and work anywhere in the U.S. and still be covered, right? What if those employees leave the continental United States on the new boat?
As your customer makes their way to the parking lot, a voice in the back of your mind tells you this may be a lot to handle, so you consider two alternatives. Option 1: Give it to your veteran CSR—she’s seen it all! Like you, she knows the Topeka insurance market backwards and forwards. Also like you, though, she’s a stranger in paradise when it comes to these new coverages and exposures.
Which brings you to Option 2: Place these new coverages through a third-party broker who has access to the markets in question, along with the requisite knowledge to place the right coverage. Or, refer the business to a known and trusted colleague.
Nobody likes to tell a customer “No,” especially one who’s offering new business. But sometimes you have to for both your sakes. Plato once said, “When a man is out of his depth, whether he has fallen into a little swimming-bath or into mid-ocean, he has to swim all the same.” Before jumping in, ask yourself: How far away is the shore, and how long can I tread water?
The best answer: Stay within the borders of your expertise, and avoid the question altogether.
Matthew Davis is vice president and claims manager at Swiss Re Corporate Solutions.
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Division of InsuranceNews and Views
Division of InsuranceContact Information:Larry Deiter, DirectorSouth Dakota Division
of Insurance124 S. Euclid Ave. 2nd Floor
Pierre, SD 57501Phone: 605.773.3563
Fax: 605.773.5369
2018 Open Enrollment
The 2018 ACA Health Insurance Open Enrollment started Nov. 1 and ended Dec. 15, 2017, with a coverage effective date of Jan. 1, 2018. The open enrollment period allowed South Dakota citizens the opportunity to review and/or purchase health insurance coverage from options available in the general market as well as the federally facilitated health care exchange known as the Marketplace.
The Centers for Medicare & Medicaid Services reported on Dec. 28, 2017, approximately 29,650 South Dakotans made individual plan selections using the HealthCare.gov platform during the open enrollment period.
Two health insurance carriers, Avera Health Plan and Sanford Health Plan, were approved by the Division to sell individual comprehensive health policies for plan year 2018.
CMS plans to release a more detailed 2018 enrollment report sometime in March.
NAIC participation for 2018
The Division of Insurance remains heavily involved with the National Association of Insurance Commissioners (NAIC). Director Larry Deiter was recently selected to serve on the NAIC Executive Committee representing the Midwest Zone. The Division also serves on the following NAIC committees:
• Internal Administration (EX1)• Innovation and Technology Task Force• Health Insurance and Managed Care (B)• Health Care Reform Regulatory Alternatives Working Group• Regulatory Framework Task Force• Senior Issues Task Force• Property and Casualty Insurance (C)
• Surplus Lines Task Force• Title Insurance Task Force• Workers’ Compensation Task Force• Antifraud Task Force• Producer Licensing Task Force• NAIC/AICPA Working Group• Accounting Practices and Procedures Task Force• Examination Oversight Task Force• Long-Term Care (B/E) Task Force• Financial Regulation Standards and Accreditation (F)• NAIC/American Indian and Alaska Native Liaison Committee• NAIC/Industry Liaison Committee• NAIC/State Government Liaison Committee
Under the NAIC Committee structure, each Committee is charged with specific goals and issues to complete throughout the year. Additional information on the NAIC committee set up or member lists is available on the NAIC website at http://naic.org/index_committees.htm.
Kayla’s Technology Advice
TALK TECHSponsored by: CNA
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Technology entrepreneurs are everywhere these days—not just in Silicon Valley. Tech accelerators and incubators are funding novel startups from Maine to California. Each of these young companies needs comprehensive insurance that independent agents are best positioned to provide. Are you ready to serve them?
The problem for many agents is that tech startups are not traditional Main Street businesses. The products they sell or lease, often via the cloud, are likely to be global. Tech companies also confront unique risks like electronic vandalism from cyberattacks, lost business income due to an internet outage and supply chain disruptions with far-flung suppliers.
Since each startup has unique needs related to selling a potentially next-generation technology, agents may feel they are ill-equipped to understand a tech startup’s products and effectively address the related risks. Considering the errors & omissions repercussions, no agent wants to jeopardize a client by failing to provide necessary coverage. Although independent agents serve diverse commercial clients in a myriad of industry sectors, serving a tech startup may seem daunting.
“Not only can agents well serve this fast-growing industry sector, the entrepreneurs running these businesses need their help,” says Gregg Fergot, vice president in the underwriting technology practice at CNA Insurance. “Founders and CEOs of tech startups are so fully engaged in building the company they have scant time to understand the organization’s risk profile and insurance needs.”
Without the expertise provided by a trusted independent agent, these startups are susceptible to significant gaps in insurance protection. “Many small tech companies purchase a simple business owner’s policy that lacks critical coverages for electronic vandalism risks and technology service provider outages, among other exposures,” Fergot says.
“Other risks may be insured with inferior limited financial protection, such as physical damage to computers, servers and electronic data processing equipment.”
These risks typically are lumped together in a BOP basket with other coverages carrying an aggregate limit of financial protection, constraining the potential for a full recovery in the event of a loss, Fergot explains.
Agents have an opportunity to approach these entrepreneurial businesses with expertise, pointing out the inadequacies of off-the-shelf insurance for a startup technology company. “A good door opener is to introduce the necessity of E&O liability insurance—the core coverage most tech startups need but often fail to have ,” Fergot points out. “E&O can then be easily endorsed to add cyber and media exposures as they are identified.”
CNA can help agents gain a foothold. “We’ve assembled all the property-casualty insurance coverages needed by these organizations at adequate limits of protection in our TechComplete program,” Fergot says. “Agents don’t need to be sophisticated technology experts—that’s our job. We can walk you through what is needed to provide optimal service as these insureds transition from small to Wall Street.”
There’s another reason why independent agents must become trusted risk and insurance advisers for today’s technology entrepreneurs. “Our work with hundreds of technology-specific agents across the country indicates these customers stick with their agents as their business grows,” Fergot says. “Most start out small and soon become midsize global companies, making them highly profitable accounts.”
Now is the time to build this future.
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Call Financial Markets, Inc. today to learn more at 800-888-2829 Opt 2Life insurance is provided by Ameritas® Life Insurance Corp. and may not be available in all states and may vary in some states. Financial Markets, Inc. does not solicit in the state of New York.
Financial Markets, Inc. is not an a�liate of Ameritas or any of its a�liates.
Even though life insurance is often not regarded as an investment that �ts within a stylebox representation of a client’s asset allocation, it can still help round out their overall portfolio. Clients want security and guarantees while not giving up growth potential, and life insurance o�ers the potential for guaranteed growth and protection regardless of market performance.
As you look at your client’s asset mix, on top of providing valuable death bene�t, life insurance can help protect their overall portfolio, while also helping address other �nancial concerns.
Life Insurance as an asset
Young Agent’s Corner By: Daschle Larsen
On January 23rd & 24th, I had the pleasure of attending the IIASD Legislative Open House as well as sitting in on Capitol proceedings as a representative of the Young Agent demographic. I would highly recommend the experience for any young agent trying to gain greater insight into not only the interworking of state government, but also the power of our IIASD voice on a state level. We also had the opportunity to sit in on the quarterly IIASD board meeting and witness the behind the scenes decisions our IIASD board makes to help better agent experiences across the state.
Our discussions with legislators could not have had much better timing considering HB 1033, which has a direct tie to South Dakota insurance agencies, was introduced to the house floor the morning of Tuesday, January 23rd. In short, HB 1033’s directive was to require insurance agencies to renew their entity license every two years for a nominal fee of $20 for in-state agencies and $50 for out-of-state agencies. On Tuesday, the bill appeared it was going to fall a few votes short, so it was deferred until Wednesday. Our Tuesday evening open house with the legislators came at an ideal time since we were able to have open conversations with them about a number of topics, including the aforementioned HB 1033. We are confident our voices were heard as the next day the bill passed the House and was sent on to the Senate for final approval.
If you are a young agent, become an active member in the IIASD organization. It will open your eyes to the many great things IIASD is doing on your behalf. If you are an agency principal, I would encourage you to get your young agents more involved. It will only strengthen their abilities as agents, and broaden their talents. It secures the continued growth and success of IIASD and everyone wins in the end!
Andy Kraus, CPCU | Vice President of Agencies 800.742.7433 | [email protected]
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DUES DEDUCTIBILITY:
Dues are not deductible as a charitable contribution, but may be
deductible as an ordinary and necessary business expense.
The portion of the dues related to lobbying expense is NOT
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IIABA 18.72%IIASD- 17.6%
Dr. Matthew Bunkers, founder of Northern Plains Weather Services, is a certi�ed consulting meteorologist (CCM) and forensic meteorologist. He can provide reports, depositions, and testimony in the areas of weather and forecasting, severe summer and winter storms, applied climatology and meteorology, and statistics. Matt currently works for the Rapid City, SD, National Weather Service, but he is allowed to provide CCM services separate from his full-time job. More information is provided at http://npweather.com, and you can contact Matt at [email protected] or 605.390.7243.
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Every day, you as independent
agents put on a rocking show for
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The 2020 Vision – Are Your Team’s Business Skills Ready?
In 2017, the word “disruption” became part of our every day – posts, blogs, articles, conferences, etc. Whether it builds fear or intrigue, it certainly creates an awareness that change is constant.
We try to envision what the new agency will look like and how automation, rapid advancements in IoT, bots, etc. will impact the skills needed for the new agency service team of the future. We can benchmark these off the universal predictions of the top 10 skills needed for jobs in 2020. This is only two years away!
According to the World Economic Forum – here they are:1. Complex Problem Solving2. Critical Thinking3. Creativity4. People Management5. Coordinating with Others 6. Emotional Intelligence7. Judgement and Decision Making8. Service Orientation 9. Negotiation 10. Cognitive Flexibility
We know for certain that technology will bring tremendous productivity to business. Although, there will be situations and business circumstances or problem solving that require human to human dialogue. The first five seconds of an exchange, such as a conversation with a customer, can make a lasting impression.
Get Ready! A value to your team and to your agency is to begin including skill growth and development of some of the skills in the above list. Pick two for 2018 – set them as learning goals. Provide opportunities for the team member to stretch and apply – keep their skills sharp.
Did you know that your Independent Insurance Agents of South Dakota Associate is a step ahead? Visit our link: (https://www.iiasd.org/Education/Pages/newhire/default.aspx) to access proven business skills training that you can use for skill gap or growth training.
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MVP boosts agency visibilityAs an MVP champion, partnering with TrustedChoice.com gives our members a digital edge. Higher ranking for our member pro les in search results means higher visibility with online buyers.
More Visibility ProgramFor IIABA of South Dakota members
Investing in boosting your marketing edge with online insurance prospects
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MVP targets local insurance buyersWe partner with TrustedChoice.com to create and host unique insurance content that’s targeted geographically to online insurance searchers and pairs high-intent prospects directly to an agency’s online digital pro le.
It’s time to take full advantage of MVPTo shine online and stand out to insurance buyers, it’s time to update your TrustedChoice.com digital pro le.
Sign in to activate your account. Visit https://goo.gl/gwMmLw and sign in using your IIABA credentials.
Update your pro le. Click “Agency Pro le” in the main menu. Then, click the “Edit Agency Pro le” button. Complete the information on each of the tabs and then press “Save”.
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2018 IIASD’s Schedule of Events
February 7th – 8th Farm & Small Town/Spring Crop Seminar in Chamberlain
April 17th – 21st Legislative Conference in Washington, D.C.
June 4th – 7th E&O Seminars inSioux Falls, Aberdeen, Pierre, Rapid City
June 20th – 22st River Days/Walleye Classic in PierreBoard Meeting July 15th – 16 Five-State Regional Young Agents Conf.Omaha, Nebraska
August 22nd – 25th IIABA Fall Leadership Conference Springfield, MA
September 23rd – 25th Annual Convention The Lodge in Deadwood- The Lodge is Full***See the top of page 25 for Overflow hotel information***
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AGENCY RISK MANAGEMENT ESSENTIALS:Swerve to Avoid Agency Liability: All About UM/UIM
Big "I" Professional Liability offers free quarterly risk management webinars as an exclusive Big "I" member benefit.
Join us February 21, 2018 from 2pm-3pm EST for for the next FREE session in the Big "I" Professional Liability and Swiss Re Corporate Solutions Agency Risk Management Essentials webinar series, Swerve to Avoid Agency Liability: All About UM/UIM.
In a brief, one-hour webinar our panelists will take a look under the hood at Uninsured Motorist/Un-derinsured Motorist (UM/UIM) coverage. We will also provide attendees with some helpful risk man-agement tips and some claims examples of how bad claims happened to good agents when placing auto coverage.
The panel discussion will feature Bill Wilson, CPCU, ARM, AIM, AAM, Founder & CEO, InsuranceCommentary.com, Matt Davis, Swiss Re Corporate Solutions Claims Manager. Big “I” Profes-sional Liability’s risk management director Jim Hanley will moderate.
Fasten your seat belts and register today for Swerve to Avoid Agency Liability: All About UM/UIM.If you have any questions relating to the topic that you would like addressed during the discussion, please email Big "I" Professional Liability's risk management director Jim Hanley.
This webinar series is provided by the Big "I" Professional Liability risk management team. A collection of risk management resources, including articles, checklists and webinar recordings, are available on the E&O Happens website. Log in with your Big "I" username and password to check it out.
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FRAUD Convictions fraud charges
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Kickbacks fueled a Minnesota crash ring that stole millions from auto insurers. Chiropractor Adam Burke was a leader of the outfit hiring runners to bring in crash victims for bogus treatment at his clinic in Edina and paying the runners $1,000-$2,000 per patient. He wrote the runners’ checks with memo lines such as “marketing,” “consulting fee” or “pt transportation.” He also had his recruiters form companies that seemedlike legitimate marketing or transport firms. The recruiters were prolific — Burke wrote more than $590,000 of kickback checks. He usually withheld their money until after the patients attended a given number of treatments. Some patients were encouraged to visit Burke’s clinic up to 40 times. He also told the runners to advise patients that getting all treatment sessions would result in bigger insurance settlements. The runners often bribed patients as well, paying patients a slice of their kickbacks to keep getting treatments from Burke — whether they needed treatment or not. He also referred many patients to personal-injury attorneys. Burke Chiropractic billed millions of dollars to the automobile insurers. Burke was convicted, as were two of his runners. The state Department of Commerce played a key role in the takedown.
Smoke and fire flooded the cockpit of Theodore Wright’s Beech Baron airplane. He ditched it in the Gulf of Mexico, even taking selfies of himself afloat afterward. The crash was an insurance hoax. The East Texas man bought the plane for $46,000 and insured it for $85,000. He took a course in water landing just before the fateful flight. Wright and his passenger buddy Raymond Fosdick were picked up floating in the Gulf. The set-up crash included yet another insurance ruse: Fosdick sued Wright for injuries from the rough landing. Wright’s insurer forked over $100,000. The staged lawsuit netted insurance money that paid a debt Wright owed Fosdick. Wright and his cronies also crashed a $76,000 Lamborghini (insured for $170,000) into a flooded ditch, set fire to a $190,000 Cessna plane (insured for $440,000), and sank a yacht off Hawaii. The four-person group tried to heist almost $1 million of insurance settlements. Wright pleaded guilty and faces decades in federal prison when sentenced.
William T. Crawley was a bar manager when he slipped while moving beer into a restaurant cooler, he said. The Seattle man claimed he injured his ankle and was unable to work anymore. Crawley allegedly received more than $91,000 of workers’ comp benefits over nearly three years. That included partial wage replacement and training to become a bookkeeper. The state Department of Labor & Industries ran a routine data cross-match, discovering Crawley had returned to work nearly full time as a manager or assistant manager at a succession of four Seattle restaurants. Crawley earned more than $104,000. At the same time, he misled his doctor into thinking he was not working. As a result, the doctor approved Crawley for wage replacement payments and vocational rehab while he secretly worked at the restaurants. The wage replacement checks warned that recipients must not cash them if they return to work, and that violators could face civil and criminal penalties. Crawley faces state comp charges.
Dean Anthony said he suffered a debilitating injury while moving a guardrail as a maintenance employee for the New York thruway agency. The Sanborn man claimed total disability that left him unable to return to work. Anthony received $461 in workers’ comp checks weekly — more than $5,000 total. He was caught installing and servicing swimming pools for a pool contractor. He submitted documentation to the state comp fund that he did not work during that period. Anthony’s charged with defrauding the state comp system.
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www.claimsassoc.com
Jeff Jares, AIC AIM, President Christopher W. Madsen, J.D., General Counsel
Dan Eggers, Finance/HR/IT
Adjusters – Sioux Falls
Nancy Almendinger Jennifer Andrisen Selzler Cory Beck Bill Blackman Blake Dykstra Kay Greve Joe Jares Dave Johnston Collin Karsky Amy Kvernmo Alex Mentele Chad Moore Wendi Peterson Kimberly Rausch Dave Sendelbach Tim Wieker
Adjusters – Rapid City
John Keffeler Bruce Eleeson
Case Managers
Kelly Rud RN BA LNCC Jennifer Heinricy RN CCM Deb Whipple RN BA CCM Lori Schaefbauer RN BSN CCM We commit ourselves to providing the highest quality claims and case management services
available in our industry. Please visit our website for complete information.
Don’t let your clients get stuck in the penalty box.
At Western National, our Personal Auto policyholders are never penalized with premium increases for tickets or accidents. That’s our Penalty-Free Promise®, and it’s one we’ve stood behind for over 50 years. For the lasting penalty protection your clients deserve, turn to Western.
“Penalty-Free” means an individual’s Personal Auto rates are never increased due to tickets or accidents. Initial and ongoing eligibility for coverage not guaranteed. Coverage not available in every state.
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Overlooked Sales Tips for More Success in 2018By: John Chapin
Tip #1: Stop working smart and get back to working hard.Most salespeople use “working smart” as an excuse to avoid hard work, especially the traditional methods of prospecting such as cold calling. They think work smart means work easy. As a result, they look for shortcuts and safe alternatives to prospecting on the phone and in-person. They try to prospect via social media and e-mail and kill so much time looking up information on prospects, that they don’t have time to make the number of calls necessary for success. While there are times you want to look up information on a prospect, use e-mail, and be on social media, the average salesperson takes it way too far because all of these are easier than talking to a live human being and facing possible rejection. In one case a new insurance agent was spending two hours looking up information before he made his initial call on a prospect. Instead of making the necessary 25 calls a day, he was making 2. Ouch!
Stop looking for the easy button: the half-the-work, ten-times-the-leads scheme, or the next break-through prospecting method, and stick to the tried-and-true: lots of calls in-person and on the phone. Hard work. The most successful salespeople work the hardest and spend the business day talking to people who can buy from them, not working on a sales letter, their phone script, social media, cleaning their desk, or doing research. Again, there are times for social media and technology. Just don’t get in the habit of using them at the expense of talking to the number of people you need to talk to in order to make the number of sales you need to make. Also, don’t do it during prime calling hours.
Tip #2: Get your daily dosage of fear, pain, and discomfort.Every single day you need to be stepping out of your comfort zone, doing things that scare you, and growing personally and professionally. The good news is that many of these things overlap so usually one or two activities will fit the bill when it comes to this tip. Again, for salespeople it is typically cold calling, or making that particular call that for some reason they’re afraid to make, that is the most fearful and uncomfortable. The better you get at handling fear, discomfort, and mental pain, the better and stronger you and your business will be.
Tip #2a: Cold call every day.Okay, you saw this one coming, right? This is tip 2a because again, for most people following this tip will give you your daily dose of tip #2.
As a salesperson cold calling is more than likely the thing you dread most and the most difficult thing you do. If you get great at cold calling, most other things in you sales career will be a breeze. Also, while you may be great at getting referrals, using LinkedIn for leads, and have more business than you can handle, you should never stop cold calling. Why? Nothing keeps you as sharp as cold calling, nothing builds your intestinal fortitude like cold calling, and nothing will give you more confidence and success than being able to cold call and get the interest and attention of a complete stranger. Also, no matter how many people you know, there may be a time in life in which you can’t rely on your LinkedIn Network, Facebook friends, a center of influence, or your uncle. Like my friend who had to talk his way into a secure area reserved for executives during a mass shooting, there will be a time in life when you have to sell a stranger. Or as my first manager Don Roche Jr. used to say, a true salesperson can sell the stranger on the street first and foremost.
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Tip #3: Stop wishing it was easier. The person you become over the span of your life will pretty much be determined by the obstacles you’ve had to overcome and whether or not you overcame them. Believe me, if you want to do anything significant with your life, you don’t want the easy road. There are no challenges or growth on the easy road. The easy road does not build persistence and resilience, which you when need when life gets tough, and which you need if you’re going to be successful in business and life over the long haul. This doesn’t mean you hope for tragedy to befall you, it means that when you run into plane delays, personal issues, professional obstacles, and anything else that life throws at you, that you accept them as part of life on planet Earth. No amount of wishing will make them go away. Rise above any negative feelings, move on, and realize that you’ll probably grow and learn something in the process. What stops most people from reaching their dreams is their inability to mentally overcome everyday roadblocks and problems they encounter along the way. They simply get beaten down until they give up.
Tip #4: Get back to the basics. • Put people first and always do what’s best for them.• Have annual, monthly, and weekly goals, break that down to daily activity, and get those daily activities done no matter what. • Spend 80% of prime-calling time prospecting, presenting, and closing.• Get great at selling, knowing your product, and your solutions.• Build relationships and your network.• Work hard… okay, and smart, but make sure it’s intelligent work that builds your business, not easy work that has you looking for the sales version of a unicorn or Bigfoot.
Are you an insuranceprofessional
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Jennifer ChristensenSouth Dakota Council Director
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WHERE A HANDSHAKE IS STILL GOLDENBuilding on the foundation of Midwestern values, where a handshake is stillgolden, we take great pride in being a local business and are proud to be the
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www.RASCompanies.com800.732.1486Risk Management | Injury Prevention | Cost Containment | Claims Management
IIA Newsletter 2017_Layout 1 2/16/2017 3:47 PM Page 1
IIASD Young Agents – This Event is for You!•Two-day exclusive Young Agent Event in the famous “Old Market” Omaha District•Network and socialize with agents from surrounding Midwest states•Round table and interactive sessions on Sales Techniques & Young Agent topics•Carrier “speed dating” – one-on-one opportunities with carrier representatives•Golf Tournament
Register today: https://www.iiaba.net/education/preview.aspx?evt=31621*Registration limited - first 200 - $75/registration - $80 for Golf Outing*Limited room block available at Embassy Suites Olds Market - $129/night – 402-346-9000
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Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Continental Western Group is not liable for any loss resulting from use of information in this advertisement. | Copyright © 2016 Continental Western Group®. All rights reserved. | 1688CWG-AD-02-16
The companies of
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We understand the importance of partnerships and take great pride in building strong, stable relationships with our agents and policyholders. Through experienced claims expertise and high-touch customer service, we are there when we are needed most.
Learn how you can represent IMT Insurance & Wadena Insurance at imtins.com/contact_us.
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GETTING STARTED IN FARMERS AND RANCHERS MARKET
Farmers and ranchers don’t easily allow outsiders in their world. So, it’s best to show them that you’re truly interested in their world. To get started, go out and interview a couple of farmers or ranchers.
• Tell them that you’re seriously considering thefarming and ranching market and ask them about theresources they need.
• What are the things they want or need to know?
• What are the biggest risks that they feel like theyhave in their operations and in passing it on toanother generation?
• Ask them questions, which will lead to where theopportunity is.
The next step is to gure out how to become valuable in their eyes. Ask yourself: “How do I become valuable to them?” A great way to provide value is through education. Whether you write for the local paper or speak at the chamber of commerce, you can provide much-needed information about the issues they face. But leave the sales pitch out of it. You want to become known as a resource for relevant information, so that they start to seek you out. And when they do, success with one or two families often leads to success within the whole community.
Partnerships are Essential:
• Look for estate planning attorneyand CPAs in the communitieswhere your customers live
• Never try to displace members ofthe current team of advisors
• Keep all members of the advisorteam in the loop
Edward D Bartling, ACS, CLU, FLMI, AIAA, MBA, WPDC - Financial Markets, Inc. 30
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Extortion by computer is growing. . . about 400% per year
Cyber criminals can lock computerized operations and hold the business and customer private information hostage, demanding a ransom to unlock them. Would you know how to keep your insurance agency’s information safe -- and your customers’ -- if confronted with a cyber extortion demand?
IIASD and Arlington/Roe have partnered to offer Cyber Secure. It is offered at a reduced rate to our members and includes coverages such as: • Cyber Extortion Loss Sublimit • Business Interruption Coverage • Forensic Expenses to Investigate the Breach/Ransomware Event
This member benefit is brought to you by IIASD and administered by Arlington/Roe.
Member agencies, call us for cyber coverage today. Contact Name: Megan Linn Title: E&O Administrator Phone: (605) 224-6234 Email: [email protected]
ContactName:John Immordino Title:E&O Risk Consultant Phone: 800-550-9891Email: [email protected]
Extortion by computer is growing. . . about 400% per year
Cyber criminals can lock computerized operations and hold the business and customer private information hostage, demanding a ransom to unlock them. Would you know how to keep your insurance agency’s information safe -- and your customers’ -- if confronted with a cyber extortion demand?
IIASD and Arlington/Roe have partnered to offer Cyber Secure. It is offered at a reduced rate to our members and includes coverages such as: • Cyber Extortion Loss Sublimit • Business Interruption Coverage • Forensic Expenses to Investigate the Breach/Ransomware Event
This member benefit is brought to you by IIASD and administered by Arlington/Roe.
Member agencies, call us for cyber coverage today. Contact Name: Megan Linn Title: E&O Administrator Phone: (605) 224-6234 Email: [email protected]
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POWER IN PARTNERS February 2018
DIAMONDRisk Administration Services
PLATINUM Farmers Mutual of Nebraska
Financial Markets Inc. Graber & Associates
Great Plains BrokerageNationwide Mutual Insurance Co. North Star Mutual Insurance Co.
QBE NAU United Fire Group
GOLD Acuity
CGB Diversified Services, Inc. Columbia Insurance Group Continental Western Group
Dakota Claims ServiceDoss & AssociatesEMC Insurance Co.
Farmers Mutual Hail of Iowa Great American Insurance Co. Intek Cleaning and Restoration
Le Mars Insurance Co.Liberty Mutual Insurance Midwest Family Mutual
Pro Ag Rain & Hail, LLC
SFM Mutual Insurance Co.The IMT Group
Western National Insurance
SILVER Accident Fund Ins Co. of America
American West InsuranceAmTrust Agriculture Insurance Services
ArmTech Insurance Services Auto-Owners Insurance
Concorde Generaal AgencyFarmers Alliance Mutual
Missouri Valley Mutual Insurance Co. North American Software Associates
Northwest GF Mutual Insurance Progressive Insurance Co.
Rainbow International Restoration Services Risk Placement Services
Rural Community Insurance ServicesSafeCo
Swiss ReState Auto Insurance Co.
BRONZE AmTrust North AmericaBjornson/Sentinel E & L
Grinnell Mutual Reinsurance Co.