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The PIA Partnership Unveils New Tool for PIA Agents

A new tool designed to help independent insurance agencies achieve growth and profitability has been unveiled by PIA and its agency-company council, The PIA Partnership...
December 18, 2013

A new tool designed to help independent insurance agencies achieve growth and profitability has been unveiled by PIA and its agency-company council, The PIA Partnership. “Closing the Gap – Growth & Profit” provides agents with calculators to help agencies project and plan for new business growth and profitability on a 5 year basis. Current PIA members are able to access the tool on a newly redesigned website at http://agency-growth-profit.com.

“This latest tool is of great value to PIA members as they seek new ways to ensure their success,” said PIA National President John G. Lee. “The cutting-edge projects of The PIA Partnership are critical to the success of both the companies that market their products through the American Agency System and the PIA agents who represent those companies.”

Agencies using this new tool begin with calculators created to project their sales and revenue, comparing various ways in which their own retention rates, premium rates and commissions factor into agency profitability. Agencies can create “what if” scenarios and improve their bottom-line results by adjusting factors including improved retention, increased sales goals and ramping up account-rounding activities. Agencies are then offered three turn-key approaches for use in their own agencies to achieve their goals.

“The enthusiasm of our carrier partners for the important work of The PIA Partnership has produced groundbreaking research and the development of tools that provide at-the-desktop value to PIA agency principals and the carriers they represent,” said PIA National Vice President/Treasurer Rob Hansen, representative of the PIA National Executive Committee to The PIA Partnership. “PIA greatly appreciates the commitment of our carrier partners and we look forward to many more years of close collaboration.”

The PIA Partnership, originally established as the Company Council of Executive Officers (CCEO) in 1996, is a group of insurance companies that share resources and work closely with PIA National to conduct research and develop tools and resources designed to benefit professional independent insurance agents.

Current PIA Partnership companies include: Encompass Insurance; Erie Insurance; Harleysville Insurance; Liberty Mutual Insurance; MetLife Auto & Home; Progressive Insurance; Selective Insurance Group; State Auto Group; The Central Insurance Companies; The Hanover Insurance Group; The Hartford; The Motorists Insurance Group; and Travelers.

Learn more about “Closing the Gap – Growth & Profit” here: http://agency-growth-profit.com.