2023 mid-year outlook: No easy fix on the horizon for M&A and talent challenges
There are many outstanding questions about what the coming months and year may bring for the independent agent given the economic uncertainty over the last 18 months. The M&A world wants to be able to answer the following: Will M&A activity pick up steam in...
Weekly Dispatch: July 27, 2023
PIA Northeast needs your input to gauge how current market conditions are affecting professional insurance agents. Take a moment to participate in PIA’s 2023 Market Trends Survey. Usage-based insurance market still struggling to find its footing. Major disaster declarations declared in Connecticut, Vermont and New York. And, evidence of worker exploitation stops work at 110 job sites in New Jersey. Plus, you can read more state-specific industry news, technical resources, accolades, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
The psychology of advanced car safety technology
One of the biggest areas for recent innovation in automobile design is advanced safety features. Features like lane and obstacle sensing radar, collision warning, and heads up displays are increasingly becoming standard equipment on new cars. The technology that comes...
UBI off to a slow start
In 1998, a new technology was introduced that promised to have major implications for many industries, chief among them the insurance industry. This technology allowed systems to monitor and collect data about a user’s behavior in real time. Today, many of us use...
Don’t shoot the messenger
You are probably familiar with the turn of phrase Don’t shoot the messenger. It means not to blame the person delivering a message for the content of that message. Often, I think that all insurance agencies should have that sign up in their lobby or on their website,...
Weekly Dispatch: July 13, 2023
An ‘above-average’ Atlantic hurricane session now is predicted—PIA has resources to help you prepare. PIACT legislative success—changes coming to the nonadmitted market process this October. In New Jersey, Caride to depart DOBI, Zimmerman named acting commissioner. PIANY leadership meets with industry and legislative leaders, lays the groundwork for the 2024 legislative session. And, an emergency declaration has been issued for Vermont after all the flooding. Plus, you can read about state-specific industry news, advocacy updates, technical resources, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
N.Y.: DFS publishes updated cyber security regulation for comment, PIA offers analysis
The New York State Department of Financial Services published a revised proposed second amendment to 23 NYCRR 500—colloquially referred to as New York’s cyber security regulation. The publication of the revised second amendment comes over six months after the...
M&A for agents: The art of making a deal 2023
Volume in the merger and acquisition sector has declined 48% in comparison to Q1 of 2022, and it has declined 27% from Q4 of 2022 according to insights from Dealogic. For many independent agents, M&A is an integral part of their growth strategy, offering a...
What the talent wants, how to compete for it
What does the next generation of insurance talent want from the industry? This is the question independent agents are considering as they look to optimize recruitment and retention strategies and future proof their agencies. The best answers come from those in the...
Humanize your brand with AI-driven CMS
Connecting with your customers is one of the most crucial aspects of running a successful insurance agency. Your customers keep you in business, so it’s essential to keep them happy—and connecting with them in a personal, human way is one of the best ways to...
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