Brooks Glad Presentation 11 11 10 V2

It’s just personal … linesSteve M. Brooks, CIC, CPIA

President, B & B Premier Insurance SolutionsChairman of the Board, PLGA

GLAD10 Great Lakes Automation DayNovember 11, 2010

Personal Lines Growth Alliance

Agenda

Potential in Personal Lines

Competition

Future of the Industry

Personal Lines Growth Alliance

Potential in Personal Lines

History Independent agents demanded more efficiency. Inefficiencies source of high expense ratios.

Prevented fair competition with direct & captive writers.

Playing field is now level.

Time to capitalize on our opportunity.

Personal Lines Growth Alliance

Potential in Personal Lines

$230 billion business

Independent agents currently capture only 35%.

There’s $150 billion of premium still available.

Personal Auto Insurance alone –

Largest single segment of P&C Insurance.

Personal Lines Growth Alliance

Potential in Personal Lines

Represents more than simple “Accommodation” sales.

Who hasn’t seen loss of revenue in Commercial Lines?

Commercial Lines mired in prolonged soft market.

Recession put pressure on premiums. Reduced payrolls Inventories Auto fleets

It’s time for Independent Agents to get excited about

Personal Lines!

Personal Lines Growth Alliance

Personal Lines

Premiums have not changed much.

Agency valuations biggest “bang for the buck?” Preferred Personal Lines. Most stable business. Good agencies have a persistency of over 90%.

Competition

Personal Lines Growth Alliance

Competition

GEICO alone spends $1.2 billion on advertising each year in the U.S.

A growing percentage of that spend is online.

Future of the Industry

Personal Lines Growth Alliance

9 months

3 years

4 years

13 years

50 40 30 20 10

38 years

The Landscape

Personal Lines Growth Alliance

The Landscape

What is your Internet strategy?

Gen Y will out number Baby Boomers this year!

YouTube is second largest search engine.

96% of Gen Y have joined a social network.

Fastest growing segment of Facebook is 55-65 year olds.

80% of consumers research products online before buying.

Personal Lines Growth Alliance

Your Landscape

What are you doing to attract people to your website?

Are you using Social Media? Facebook, Twitter, LinkedIn, YouTube.

Keep website current.

Link website to business partners’ websites. Ex. Auto body shops, glass repair, 24 hr. emergency

restoration companies.

Video

Your Website IS Your Business Card!

Remember…Remember…

Personal Lines Growth Alliance

Your Landscape

Update your website.

What’s your SEO? Where do you show up in a search?

Track revenue coming through your website.

Go “Local” – capture your local community using digital marketing.

Personal Lines Growth Alliance

Ideas for Your Landscape

LinkedIn Post your picture on it. Keep it up to date. Get and Give recommendations.

Blog – start your own

Apps – Create a unique app for your agency. Claim, payment numbers, etc.

Twitter

Personal Lines Growth Alliance

Ideas for Your Landscape

Build friends, followers and connections.

Referral contest.

Automatic email campaigns. Cross sell. Retention. New clients.

Keep data base up-to-date that includes: Suspects, prospects and existing clients.

Personal Lines Growth Alliance

Action Items

Develop comprehensive digital marketing strategy.

Develop email gathering process.

Develop and implement social media strategy.

Develop sales process to convert the leads to sales.

Thank You.Steve M. Brooks, CIC, [email protected] [email protected]

Questions?Questions?