If your independent insurance agency is experiencing declining profits and revenues and tougher competition, then you need a plan to eliminate these risks to your financial success.
Agencies that are members of The WorkComp Advisory Group learn how to:
To differentiate yourself in the marketplace, your agents must deliver true business value—not necessarily the lowest price—to your prospects and clients. As a member of The WorkComp Advisory Group, you'll learn how to develop a unique value proposition based on specialized Workers' Compensation technical knowledge and capabilities.
When your agents implement The DAPPER ProcessTM, they'll be making the shift from placing insurance policies to serving as trusted advisors who help business clients get better. For example, if your agents can show employers how to improve their injury management outcomes, then they are viewed as a business advantage; not just another insurance agent. As a result, you'll be attracting and retaining higher revenue clients.
Did you know that most employers feel they have little control over their Workers' Compensation costs? That's because no agent has taken the time to lead them through a complete assessment of the complexity of Workers' Compensation. The agent who can demonstrate, through his or her technical knowledge, how an employer is overcharged through the premium audit process is an invaluable business partner.
Membership in The WorkComp Advisory Group includes a 2-day WorkComp WorkShopTM in which your agents develop the in-depth knowledge about Workers' Compensation that will move them from transactional sales to consultative relationships with your clients. Agents learn how to establish a prosperous client-focused dialog with employers and eliminate the ineffective and debilitating bidding-and-quoting approach that reduces your revenues.
When you compete solely on price, you end up working harder to increase—let alone maintain—your revenues. If, however, you implement a consultative sales strategy, you'll:
Learn how to capture more and larger accounts when you lead your sales calls with specialized Workers' Compensation knowledge acquired through membership in the WorkComp Advisory Group. In addition, the Workers' Compensation expertise you offer to clients can lead to acquiring additional lines of business, including group health and property and casualty.
Most employers think "WorkComp is WorkComp" and there is nothing they can do to manage the cost. Few understand that they are ultimately financing their injury costs due to the impact on their Experience Modification Factor. Many employers don't know how to correctly manage their Experience Modification Factor. And how many of them even realize that a mod factor greater than 1.0 can prevent them from winning certain business?
Through The WorkComp WorkShopTM training—a benefit of your membership—your agents gain the technical knowledge to help clients understand the consequences of:
You've sent your agents to sales training. You've sent them to technical training. And your revenue growth is still stagnant. Now what?
The missing link is the agent's capabilities to help clients get better and improve their results. The WorkComp Advisory Group co-founders Frank Pennachio and Susan Toussaint have developed specific processes to support immediate implementation following a WorkShop:
These step-by-step processes give your agents credibility and allow them to quickly showcase their capabilities.
Your agency commissions are declining. You're anxious to find a way to offset losses. Maybe you're not even the broker of record. How do you get in the door to sell your services? Insurance policies don't solve all of an employer's problems. Employers still need help addressing unknown Workers' Compensation risks and threats. You can provide a valuable service AND create an additional revenue stream for your agency by offering fee-based services.
When it comes to Workers' Compensation, many employers "don't know what they don't know." That's why agents who offer their specialized capabilities, tools and processes as a fee-based service can prove extremely valuable to clients—and your agency.
What if your agents could uncover underlying injury management and prevention problems by performing a comprehensive injury management assessment...for a fee?
Agents who attend The WorkComp Advisory Group WorkShop are better prepared to initiate those consultative discussions with clients that lead to delivering fee-based services.
Agencies willing to veer off the established path of transactional selling and adopt a consultative sales strategy that leads with Workers' Compensation bring a new dimension to the employer-agency relationship.
Business clients are facing risks and threats, just like your agency is. Maybe their injury costs are on the rise and they don't know why. If you can help them identify the root cause and show them how to improve their results, they will pay you for your knowledge and expertise.
Become a member of The WorkComp Advisory Group community and learn how to improve employer outcomes. You'll have access to:
Hiring and training young, energetic agents is a considerable investment for independent insurance agencies. It's frustrating for you—and them—when they fall short of the expectations set for them. It's no secret that, in today's highly competitive marketplace, the commissions earned from just selling and placing insurance policies fail to yield the ROI your agency needs. Transitioning from a transactional selling process to a consultative one produces higher rewards for everyone.
You can start young producers on the right track by training them how to successfully implement The DAPPER ProcessTM, a distinctive sales strategy that emphasizes a client-focused dialogue. This process is designed to improve business relationships with employers and eliminate an agent's reliance on the ineffective bid-and-quote approach.
In our 2-day WorkComp WorkShopTM, young producers develop their capabilities in Workers' Compensation knowledge. Their new insight will capture more business and increase your agency revenues.
It's easy for young producers to become disillusioned when they bid and quote with little success. Before long, they decide to move on—either to a new agency or to a new profession. It's costly for your agency's financial success and reputation. And it's difficult to establish that long-term business relationship with clients.
The benefits available to members in The WorkComp Advisory Group community allow them to grow and develop in their chosen profession and achieve greater rewards in the process. Job gratification turns into stability for young producers and the agencies they work for.
Learn how to differentiate your agency and eliminate your competition with The DAPPER ProcessTM, a distinctive sales strategy developed by The WorkComp Advisory Group co-founders Frank Pennachio and Susan Toussaint.
The DAPPER ProcessTM is the foundation of our 2-day WorkShop in which you learn how to:
This process provides you with a tool that helps you engage in dialogue with clients so they can identify their risks and threats. Instead of asking a client "Are you satisfied with your current Workers' Compensation plan?", why not ask "How confident are you that your employees are getting the right medical treatment when injured?"
When combined with our training, support and consultative relationship, The DAPPER ProcessTM eliminates your reliance on bidding and quoting and jump-starts your transition from transactional selling to a consultative sales approach.
Frank Pennachio, co-founder of The WorkComp Advisory Group, is a recognized expert in the Workers' Compensation community. For more than 20 years, Frank owned an independent insurance agency. For 15 of those years, his agency focused exclusively on Workers' Compensation.
In addition, he has spent the past decade training agents—more than 1,000 nationwide—on the technical aspects of Workers' Compensation. An advocate of life-long learning, Frank loves leading discussions and encouraging others to grow professionally.
Frank is an accomplished speaker, presenting at national conferences and seminars to agents, employers and other insurance professionals, and is a frequent author of published articles about Workers' Compensation issues.
In his role at The WorkComp Advisory Group, Frank is responsible for:
For the past 10 years, Susan Toussaint has been professionally dedicated to working in and around the Workers' Compensation system. As a regional manager for multi-site hospital-based occupational health clinics, she worked with employers to establish their injury management and wellness programs.
Susan recently received the Workers' Compensation Notable People for 2010 award sponsored by the LexisNexis Workers' Compensation Law Center.
In 2007, Susan founded Injury Management Partners, a firm that creates turn-key consulting packages to help agents cultivate employer relationships outside the broker of record.
In her role at The WorkComp Advisory Group, Susan is responsible for:
Your privacy is important to us. To better protect your privacy we provide this notice explaining our online information practices and the choices you can make about the way your information is collected and used.
When you supply any personal information to Work Comp Advisory Group we have legal obligations towards you in the way we deal with that data. We must collect the information fairly, that is, we must explain how we will use it and tell you if we want to pass the information on to anyone else.
In general, any information you provide to Work Comp Advisory Group will only be used by us. We use the information to supply you with our newsletter and to share occasional surveys or news.
Your data will never be supplied to anyone outside the company, unless we are obliged or permitted by law to disclose it. We will never sell or share our members' e-mail addresses.
To prevent unauthorised access, maintain data accuracy, and ensure the correct use of information, we have put in place appropriate procedures to safeguard and secure the information we collect online.
The WorkComp Advisory Group was established to provide independent insurance agents with the tools, training and consultative leadership they need to attract and retain business.
We believe the formula for your success is to lead with Workers' Compensation.
We recognize that many agencies are facing financial challenges. We offer a consultative approach that leads you through the process of identifying the risks and threats to your business, and then we advise you on developing a value proposition that truly differentiates your agency in the marketplace.
Our community provides you with the leadership, strategies, training and support essential to:
With our layered levels of engagement, you can choose the membership program that fits your agency's needs. And, regardless of the level you select, you're eligible to attend our 2-day WorkShop, which features our distinctive sales strategy, The DAPPER ProcessTM.
