The firm specializes in financial and management consulting for insurance agencies nationwide and abroad, including valuations, mergers, acquisitions, clusters and perpetuation planning. By Bill Schoeffler and Catherine Oak, CIC, AAI O ver the years we have personally visited over 450 agencies and been in contact over the phone with countless more agencies. With this wealth of knowledge we have noticed that each agency is unique. However, it is equally clear that most agencies operate in a similar manner and experience many of the same problems. People tend to develop a certain belief system based on their experiences.
Problems arise when decisions are made based on beliefs that are inaccurate or incomplete.
We have encapsulated the 10 most common myths that persist in agencies today. The odds are that most agency managers hold at least one of these myths as a truth. Often, just looking at a situation from a new perspective will create a field of infinite possibilities that will allow the agency owner or manager to choose the best path for the agency to travel. Some agency owners see the value of CSR incentives and some do not. An incentive should be based on a CSR bringing in any new business into the agency.