Closing the Gap – Growth & Profit
Brought to you by The PIA Partnership and its member companies
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What is Closing the Gap – Growth & Profit?
Improving the profitability of their personal lines book of business has never been more important for agencies than it is today. This is why PIA agent leadership along with participating insurance companies are working together through The Partnership and have created our new set of tools for professional independent insurance agents.
This year we have enhanced this valuable tool!
PIA and The Partnership have developed a new and enhanced version of this important tool available to PIA members.
Agencies using this new tool begin with calculators created for use with Microsoft Excel to help insure ease of access and adaptability for agents. These calculators are designed to help agencies project and plan for new business growth and profitability on a 5 year basis. Agencies can also project auto and homeowner premium and commission by customer type – comparing various ways in which their own retention rates, premium rates and commissions factor into agency profitability.
Since results from these calculator tools are not static, 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. These approaches have been developed by The Partnership based on survey input received from PIA leaders earlier this year.
(1) The first approach, entitled “Asking Customers The Right Questions” is built on a proven strategy successful agencies are already using to enhance both growth and profitability.
(2) The second turn key approach.focuses on both retention and lead generation. It is the “Claim Alert Lead Program” and directed towards an agency’s current homeowners clients.
(3) The third turn-key deliverable tool, “Conducting a Young Driver Seminar” is designed to help enhance an agency’s overall image not only with their current customers, but potentially, with everyone in their community.
Each of these approaches is comprehensive and includes a series of guides and step-by-step instructions for implementation by an agency.
Closing the Gap for Growth and Profitability is adaptableandcustomizable from start to finish. By first using an agency’s own current results and projections, they identify areas of opportunity. They’re then able to use the tools and approaches that are right for them and their agency. These new Partnership tools are designed to help agencies close the gap – to maximize growth and profit.
Preview Closing the Gap – Growth & Profit at http://agency-growth-profit.com or login in the blue box above to access the full set of tools.
Participating Carriers in The PIA Partnership
- Central Insurance Companies
- Encompass Insurance
- Erie Insurance
- Liberty Mutual Insurance
- MetLife Auto & Home
- National General Insurance
- Nationwide Independent (formerly Harleysville Insurance)
- Progressive Insurance
- Selective Insurance Group
- State Auto Insurance Companies
- The Hanover Insurance Group
- The Hartford
- The Motorists Insurance Group