VP of Operations Jocelyn Rineer Named One of 2017 “Insurance Business America Elite Women in Insurance”
ANE agents that work with our Vice President of Operation Jocelyn Rineer know what an asset she is to helping their agencies grow. Jocelyn was recognized in the June 26 Insurance Business America magazine 2017 Elite Women issue highlighting women leaders in the insurance industry.
According to the magazine, few women have achieved leadership roles in the insurance industry. The 2017 Elite Women issue features women who “have overcome obstacles and broken barriers to become some of the industry’s top professionals.”
“Jocelyn has been a tremendous asset to the ANE team. She has lead efforts to help our agents become better business owners and grow their agencies," said John Tiene, CEO, ANE. “We are pleased that she is being recognized by Insurance Business America for her dedication and strong leadership in the insurance industry.”
Read the profile here
Tech Can Bridge the Insurance Workforce
In this week's issue of Independent Agent Magazine, ANE CEO John K. Tiene discusses how new technology implemented in the independent agent distribution channel will win the talent battle the industry is currently up against.
According to the Bureau of Labor Statistics, the insurance industry will have an estimated 400,000 job openings by the year 2020. And nearly 50% of the industry's workforce is older than 45, with only 27% under age 35 in line to replace them.
Those statistics will play out in smaller agencies traditionally staffed by producers, customer service representatives, account executives and managers. In the next 10 years, many of these employees will retire, and agencies will be fighting to fill positions left empty by the oversized baby boomer bubble.
The bottom line: Fewer producers and personnel will result in less revenue and diminished customer service—which could drive existing clients away.
The solution to this looming crisis: Millennials, who make up 25% of the U.S. workforce today and will comprise 50% of the global workforce by 2020, according to BLS. The Pew Research Center reports that millennials value job enjoyment above compensation, followed by job security and flexibility. They volunteer and align with social causes. They are the most connected generation in history, spending an average of 14.5 hours a week on their smartphones, according to Experian Marketing Services.
Misunderstood as job-hoppers, millennials want to understand their career path, even though it may take a decade or more to achieve their goals. They also want to be engaged and understand how their work impacts clients, their employers and the world in general. The traditionally stable insurance industry is suited for millennials who crave job security, and the opportunities it provides for working directly with clients to mitigate business and personal risk appeals to their desire to help others.
Unfortunately, the insurance industry is fighting an image problem: The stereotype pencil-pushing, gray-suited, 9-to-5 insurance salesman is not attractive to millennials. Eight of 10 have limited knowledge and understanding of the employment opportunities available in insurance, according to The Institutes.
Technology can help bridge the gap. The insurance industry is finally catching up to the rest of the business world in this realm: Successful agents are using cloud-based computing and portals to interact with clients more efficiently. Big data analytics enable agents to mine for new business and cross-sell products to deepen customer relationships.
Armed with a new arsenal of technology tools, tech-savvy agencies will not only increase customer loyalty, but also recruit and retain millennial employees for insurance jobs and careers. New high-tech job functions created by big data analytics are attracting candidates with backgrounds in science, technology, engineering and mathematics.
Agencies are using mobility, social media like LinkedIn, and job boards like Indeed, Monster and CareerBuilder to find “passive” talent—candidates who aren’t actively looking for a job because they already have one. According to Vertafore, millennials are more than twice as likely as other generations to be recruited via LinkedIn or other social media. Agencies that leverage social networks to hire millennials demonstrate a forward-thinking approach that appeals to millennials as employees.
Such efforts may finally be paying off. When Vertafore surveyed insurance professionals ages 19-35, more than 90% said insurance careers satisfy job satisfaction criteria including work-life balance, career development opportunities and financial stability. Eighty-one percent said they plan to remain in the industry for as long as possible, and 70% would recommend an insurance career to their friends—results that suggest the best recruiting strategy may involve millennials themselves.
Independent agencies that embrace technology to connect with clients, operate more efficiently and recruit millennials will win the talent battle and be ready for whatever the future brings.
To see the full article on Independent Agent Magazine online - click here.
Insurance Network CEO Says Independent Agents Must Prepare for Looming Workforce Crisis
John Tiene, CEO of Agency Network Exchange, warned ANE member insurance agents that a workforce gap in the next decade will make it harder for independent agencies to find, recruit and keep new talent.
John Tiene, CEO of Agency Network Exchange, warned insurance agents at the ANE annual conference today that an unprecedented workforce gap in the next decade will make it harder for independent agencies to find, recruit and keep new talent, and ultimately stay in business. The Bureau of Labor Statistics predicts the insurance industry will have an estimated 400,000 job openings by the year 2020.
“The workforce crisis will be hardest on smaller insurance agencies with aging staff in their 50s today. Fewer producers and personnel could have big impacts on revenue and customer service that will drive existing clients away,” Tiene said.
“Tech-savvy agents who embrace mobile technologies and social media will be in a better position to compete for talent.”
Nearly 50 percent of the industry’s workforce is above the age of 45, with only 27 percent under age 35 in line to replace them. Millennials, the largest group entering the workforce, make up 25 percent of the U.S. workforce today and will be 50 percent of the global workforce by 2020. (BLS)
According to Tiene, “Insurance companies are creating innovative internship and training programs that give Millennials an opportunity to explore careers in insurance and help attract talent from outside traditional channels.”
The keynote speaker at this year’s ANE Conference was Noelle Codispoti, executive director of Gamma Iota Sigma, an international fraternity for students of insurance, risk management and actuarial science. She discussed the talent gap statistics in the insurance industry and how Millennials are responding to recruitment efforts.
“Students starting in entry level positions today are more focused on company than cash,” said Codispoti. “Companies should be open to discussing not only compensation and career growth, but also the support they are willing to give the individual in terms of professional development, as well as the company’s community outreach efforts and commitment.”
The ANE conference was attended by more than 160 independent agents and other insurance professionals from New Jersey, Pennsylvania and Delaware. In addition to the keynote presentation, the event featured breakout sessions for agency owners, producers, account managers and CSRs.
See the full press release on PRWeb here!
ANE Adds Seven Agencies in New Jersey and Pennsylvania
More than $22+ Million in New Business Premiums Written Last Year
ANE, Agency Network Exchange, LLC announced it added seven new agencies in Pennsylvania and New Jersey last year to grow its membership to more than 50 independently owned and operated agencies. The network, which began with just seven agencies in 2009, helped its members write more than $52 million in new business premiums over the last three years and paid more than $5.6 million in profit sharing to members in the same period.
"ANE's continued momentum across New Jersey and Pennsylvania demonstrates that our business model is working for independent agencies that want to stay competitive and grow," said John Tiene, CEO, ANE. "ANE will continue to add talent, realign staff and invest in technology that drives our members' success and helps us achieve our goal of expanding the network across the Mid-Atlantic states."
ANE added four agencies in New Jersey:
- U.S. Insurance (Newton, NJ)
- Richards & Summers (Denville, NJ)
- Livingston Insurance Agency (Livingston, NJ)
- Fidella Insurance (Mount Laurel, NJ)
ANE added three agencies in Pennsylvania:
- Absolute Insurance Agency (Upper Chichester, PA)
- Commercial Insurance Providers Group (Levittown, PA)
- The DeAngelo Company (Wyomissing, PA)
ANE Personnel Announcements
ANE also named Neal Stanley as interim Chief Operating Officer and consultant. Stanley joined the ANE Board of Directors in 2016 as its first independent member. Jocelyn Rineer was promoted to Vice President, Field Operations.
Stanley has over 40 years of experience as the president or senior officer of insurance companies and agencies. He recently retired from United Valley Insurance Services, Inc., one of the nation's largest agency networks, where he was a director and COO. He continues in a consulting role with the company, assisting its member agencies in perpetuation and acquisitions.
Rineer joined ANE from E&K Agency, Inc. of Eatontown, NJ, where she served for 15 years as Commercial Lines Marketing Manager with responsibility for placing a wide variety of commercial lines risks with numerous standard and wholesale outlets. As Director of Field Services, Rineer was the primary contact for ANE's New Jersey members. A licensed producer, Rineer is also a Certified Insurance Counselor.
Avoid the fate of the dodo
In this month's issue of Insurance Business America (Issue 4.12), ANE CEO John K. Tiene discusses how technology is changing everything for agents, but they underestimate just how much.
Insurance agents should heed the lesson of the dodo bird. Most notable for its sudden extinction some 300 years ago, the flightless dodo has no natural predators until humans colonized its native island, Mauritius. The clumsy birds were easy to catch and defenseless against the island's new population of cats, rats and monkeys. The demise of the dodo was swift. In just 75 years, the bird ceased to exist.
Agents stuck in the olds ways of doing business may face a future as dire as the dodo. Most agents understand that technology is changing, but they underestimate how dramatically technology is impacting the relationships they have with their clients.
Consumer expectations are evolving. Clients still want a relationship with their agent, but the nature of that relationship is very different than it was just a few years ago. From my vantage point, insurance agents are not changing fast enough to keep up, and the clock is ticking.
Agencies still look a lot like they did 20 years ago: people sitting at desks in front of computers, using the phone as the primary way to contact customers, all between the hours of 8:30 a.m. and 5 p.m., Monday through Friday. In the next 10 years, successful insurance offices will look dramatically different. A physical office may not even exist because portals and cloud-based computing will enable clients to do many transactions themselves - faster, more efficiently and, most important, when it's convenient.
Consider the new client. At the beginning of the relationship, you have a lot of personal interaction. You're counseling them, explaining coverage options, building a relationship. Eventually you sell them a policy. At this point, a lot of agents would send a paper policy. But today's clients don't want a stack of paper. They expect a portal connected to an app on their phone, laptop or tablet where they can access all the information they need: policies, ID cards, driver information and so on. Using the portal, they can also chat with agents and download forms.
The connected consumer of today is already using technology to buy their groceries, clothes, utilities and financial services. Companies like Amazon, Google and Charles Schwab are leading the way, defining what convenience and efficiency looks like in the minds of our clients. For example, Charles Schwab customers can interact with a financial advisor in person or via text, email or phone.
At some point, consumers are going to ask themselves, "How come I can't do insurance this way?" If agents don't embrace technology to offer a multi-channel approach with the convenience and ease of use that clients expect, they will no longer be relevant. Their clients are going to migrate to new insurance channels, and it won't be easy to get them back.
It's not just about retaining clients; it's about attracting new clients, too. Disruptors in the insurance marketplace are even further along in terms of technology adoption and integration, and they're threatening the traditional distribution insurance model. Lemonade, for example, is a new peer-to-peer insurtech startup that promises customers instantaneous homeowner's and renter's insurance quotes with a simple swipe of their smartphone. A feature called "switching" allows users to cancel policies, obtain a refund and buy a new policy with the click of a button. Within the first 48 hours of launching in New York, the company had 142 policies and thousands of dollars in premiums. No agents involved. There are hundreds of these disruptors looking to build a better mousetrap.
Independent insurance agents have a tremendous advantage in the marketplace - existing relationships with clients, the ability to provide consultative advice and a tradition of serving their communities. A well trained, knowledgeable insurance professional will always be successful because clients still want the counsel and support that only a real live professional can provide. However, the nature of that relationship must change for that agent to survive. Today's tech-savvy clients want to be able to do things seamlessly without making a phone call. They don't need advice and consultation to manage billing or get an ID card.
This kind of change is not easy, but it is essential. Agents resistant to change will be viewed as slow and old-fashioned. Their clients will move to an insurance platform that fits their lifestyle demands. Before long, these agents may find themselves out of business and, as the saying goes, "as dead as the dodo."
See the full publication here.
ANE Adds First Independent Board Member Neal Stanley, Raymond Pavese Elected Chairman of Board
ANE, Agency Network Exchange LLC, announced that it has added Neal Stanley as the first independent member of the ANE Board of Directors. ANE has also elected Raymond Pavese as Chairman of the Board.
"Neal Stanley, who adds greater depth and expertise to our Board as we pursue new strategic directions that add value for our agency members and their clients," said John Tiene, CEO, ANE. " As Chairman of the Board, Ray Pavese continues his commitment to ANE that started when he helped to found the company seven years ago."
"ANE is one of the most innovative models for agents," said Neal Stanley - recently elected to the ANE Board of Directors. "I'm very pleased to continue my involvement with independent agents working with ANE."
Stanley has more than 30 years of experience in the management and direction of insurance companies and agencies. He recently retired as Chief Operating Officer for United Valley Insurance Services, Inc., an agency cluster in California. He joined United Valley in 2002 as executive vice president to manage its Retail Agency and to lead the Agency Acquisition Program. Stanley has served on the Board of Directors of various industry organizations and is an active member of the State Bar of California.
"It's a privilege to serve ANE in this new role," said Pavese. "Our industry is changing quickly and in dynamic ways. ANE is committed to helping independent insurance agents remain independent."
A founder of ANE, Pavese began his career at the Prudential Life Insurance Company after graduating from Roger Williams University in 1986. Within a year, he joined his father at the Pavese-McCormick Insurance Agency in New Jersey, where he expanded the agency footprint from Middlesex County to thousands of clients throughout the state. He bought the agency with Michael McCormick from their fathers, and today it is one of the largest in central New Jersey with clients across the Mid-Atlantic region. He is the past president of the Middlesex County Independent Insurance Agents, Exchange Club of New Brunswick, the Brunswick Bank and Trust Advisory Board, and the Executive's Association of New Jersey, one of the oldest and most prestigious networking organizations in the state.
ANE has grown from just seven members on 2009 to more than 45 independent insurance agencies with over $150 million in controlled premiums. In 2014, ANE announced plans to expand into Pennsylvania and other mid-Atlantic states. In the last three years, ANE has helped its members write more than $75 million in organic new business. The network paid more than $1.8 million in profit sharing to members last year.
Staying Relevant in the Age of the Customer
ANE CEO John K. Tiene's featured article in this week's edition of Insurance Journal.
Laptops, smartphones and tablets are giving consumers the power to make buying decisions from anywhere, and at any moment of their choosing.
“We’ve entered this new age — the age of the customer,” said Ellen Carney, principal analyst, Forrester Research at the ANE, Agency Network Exchange annual conference in April. “Digital has moved that power shift into the hands of customers.”
Forrester predicts 2.4 billion smartphone users and another 651 million tablet users by the end of 2017. The pervasiveness of these devices has changed consumer expectations: insurance agents need to provide their clients with the tools they want to interact with the agency. Agencies must have a robust mobile-friendly website, a mobile app, client portal and provide a location-specific experience.
Agents must rethink how they use technology to improve, differentiate from competitors and make data work for them.
At the ANE conference, I asked several industry executives and ANE member agents for their thoughts on how agents can stay relevant in the age of the customer:
- Matt Kirk, senior vice president, The Hartford: “Your clients are going to need advice and counsel about the products they are buying. They expect you to take care of their needs. That doesn’t change. What is their expectation of that engagement? How will you communicate with them? The way they are engaged is going to change, and it will change rapidly.”
- Gary Capone, vice president, Franklin Mutual Insurance Co.: “People still want to do business with an independent agent. Millennials are not just looking to buy online. They want professional advice. You have to listen to the customer, give them what they want, the way they want it, be very flexible and use many channels.”
- Bob Redden, vice president, Selective Insurance Companies: “The challenge is where to start. Everyone has limited resources. Where do you get the best return? Moving forward, a focus on an omni-channel experience for the customer becomes even more critical. You may have customers who prefer to interact by phone, some by web or text. One way to be relevant is to let them know their options.”
- Ellen Carney, principal analyst, Forrester: “A lot of organizations are available to help independent agents. You can have the same advantage as the most technically sophisticated agency. Someone else can manage the infrastructure, make sure the experience is fast, easy to navigate, and meets expectations in terms of mobile, social and whatever the next digital touchpoint could be. Technology is a lot different than it was in the 1990s when you had to build it yourself. Now there’s someone else who will build it and by the end of the day, you are up and running.”
- Freddie Marin, ANE agent, Your Insurance Solutions: “I was afraid that physical agencies were no longer relevant. Everybody is addicted to cellphones and 80 percent are doing research online, but they are looking for agents. You have to learn to interact in a new way through technology, but still provide the personal touch that a digital device can’t provide.”
- Doug Mohr, vice president, Vertafore: “It’s those little touches. I get the Starbuck’s card on my birthday, a note when it’s time for renewal. I think of my agent first before I think of the company. It’s because my agent has that personal touch.”
- George Reese, agent, Henry Young Insurance Agency: “We are in a changing world and the pace of change is accelerating. We need to be open to everybody in all the various ways they want to communicate, and be responsive to that.”
Forrester Analyst Says Insurance Agents Must Embrace Digital Technologies to Stay Relevant at 2016 ANE Conference
At the Agency Network Exchange Annual Conference this week, Forrester Principal Analyst Ellen Carney told independent insurance agents they must exploit digital technologies that create value and increase operational agility to stay relevant in the face of new competition from digital "disruptors" that are changing the way insurance is sold and serviced.
In Carney's keynote, "The Agent in the Age of the Customer: The Customer-Driven Changes that are Remaking Insurance," she outlined four market imperatives for independent agents:
- Turn big data into business insights
- Transform the customer experience
- Embrace the mobile mind shift
- Accelerate your digital business
"Agents who want to succeed must change how they do business by embracing the digital technologies today's consumers are looking to utilize," said John Tiene, CEO, ANE.
"Change is never easy, but it is essential and necessary to keep clients from migrating away from independent agents. ANE is helping our agents succeed by giving them the tools they need to transform their businesses."
Last year, ANE announced an agreement to make Vertafore the exclusive provider of agency management technology solutions for ANE members. ANE agencies receive preferred support and pricing for the Vertafore Agency Platform -- comprehensive software that helps agents easily and economically grow new business, retain clients, maximize profitability and manage business lines.
The ANE conference was attended by more than 160 independent agents and other insurance professionals from New Jersey, Pennsylvania and Delaware. The event featured six break-out sessions for agency owners, producers, account managers and CSRs. Carney also participated in a panel with executives from The Hartford, Selective Insurance Company and Vertafore to discuss "What Agents Need to do to Stay Relevant."
Brave New Omni-Channel World: Adapt or Bust
As seen on IAMagazine.com, CEO of ANE, John K. Tiene, asks independent insurance agents what they are doing to transform their agency to embrace Omni-channel technology?
According to Google Research, 98% of Americans switch between devices throughout the course of one day.
Technology is changing the buying patterns of insurance consumers, and not just among millennials. Every baby boomer has a smartphone and knows how to use it. This emphasis on ease, convenience and mobility has opened the door to new insurance competition from retail goliaths like Wal-Mart, Amazon, credit card companies and a host on insurance startups.
Meanwhile, large insurance carriers are using data analytics to leapfrog agents and sell directly to consumers. Mergers and acquisitions, perpetuation headaches and carrier-retailer partnerships are also putting the squeeze on agents.
In almost every service industry today - from banking and investing to local pharmacies and car dealerships - consumers want to interact on their own terms, whether that's in person, via phone, text, email, social media or the Internet. They expect an Omni-channel experience that leverages a convenience cocktail of technology and customer service that provides them with access to products, services and information in real-time, 24/7, 365 days a year.
Aberdeen Group found that companies with extremely strong Omni-channel customer engagement retain on average 89% of their customers - compared to 33% for companies without it. Change is happening so rapidly that agents who don't adapt soon will find their customers going where they can get the seamless service model they demand.
The nature of agent-client relationships has changed drastically from what it was years ago. Agents who gave smart, professional advice used to have the edge. Now, people still value consultation with an agent, but they also want the convenience of Omni-channel access to get their information or complete service activities seamlessly. Whether the customer is shopping online, by telephone or in a brick and mortar store, these are the options they want.
Read the full article online here.
ANE's LinkedIn Tips For Insurance Professionals
Many insurance professionals are curious about how to market themselves, and their agency, on LinkedIn. Does it actually work? Is it an effective tool?
As we are sure you have heard, being digitally current is imperative to increase the quality of your customers' experience. But few people realize that you and your agency are being digitally vetted before you even make initial contact.
It has become more common for clients to look to the web first before making a decision on who to call for help or advice with their insurance needs. So, why shouldn't you be the first person they check out? Your website may not come up first in a search engine, but a solid LinkedIn profile will certainly help your agency be a front-runner when it comes to getting the first call. LinkedIn has become the largest professional network and one of the first places potential clients go to.
So, here's how to get started.
First, think of your LinkedIn profile as your resume and digital first impression. LinkedIn makes it incredibly easy to fill in your information step-by-step.
- Put your full name as it would appear on your business card. No nicknames, no silly job titles like "insurance messiah".
- CURRENT, professional picture. No future client wants to see what you looked like twenty years ago or what your dog looks like. You don't need to hire a professional photographer either. The site makes it easy to snap a photo and upload. Ask a coworker to take a photo for you and return the favor. You can even turn making your profiles into a team project, because nothing says teamwork like social media!
- Add your location and industry for easier searches and visibility.
- Use descriptions that will attract the particular clientele your agency is looking for. Does your agency only sell home and auto insurance? Or do you specialize in general contractors? Make sure to use those as keywords in your profile's heading description.
- Use your agency branding as a background image. Company logos and street view photos of your office make great background images. Now your future client will know what to look for when passing by your agency!
- Highlight your skills, accomplishments and professional memberships in your summary. Before writing, think to yourself - what do you find most captivating about your professional life?
- Always include a link to your agency's website. Not only does this add credibility to your profile, it increases your search engine optimization.
The more time you spend into making your profile the best it can be, the more time prospective clients will spend looking at it. Best part is, do it well the first time and all you'll need to do are minor updates in the future.
Remember! LinkedIn is a PROFESSIONAL networking site. This is not the place to post your every thought and action. If you wouldn't say it in front of a client, save it for your personal Facebook or Twitter account.
Second, once you have completed every nook and cranny of your profile, you are ready to get started networking with future prospects. Post meaningful, useful and intriguing content out there for everyone to see. Share other peoples' work, but include your insight. You will be surprised how many other people are thinking the same thing or have the same questions. Do not bash other peoples' opinions, but use this as a forum for thoughtful debate.
Third, join groups related to your specialty to share insight on insurance issues that the group members might care about. You never know who will be willing to give you a referral. Love antique cars and your agency happens to sell collector car insurance? LinkedIn has a group for that - the possibilities are endless!
Fourth, are you extremely knowledgeable in a particular area of insurance? Write about it! LinkedIn has a fantastic publisher tool that allows you to publish your own articles and put your profile in front of thousands of potential clients. If your agency website has a blog, you already have content waiting to be published.
These are just some of the basics of getting started with your LinkedIn marketing, but having a completed, well-thought our profile adds a professional edge to your agency that has become necessary in our digital world.
To learn more about optimizing your LinkedIn profile, join us on April 7th at the Renaissance Woodbridge Hotel for our Annual Conference. Register today at https://aneconference2016.eventbrite.com