MAIA News: In this Issue - massagent.comthe MAIA Board to discuss, or you can contact the MAIA staff...
Transcript of MAIA News: In this Issue - massagent.comthe MAIA Board to discuss, or you can contact the MAIA staff...
December 17, 2012 In this Issue ...
MAIA News: 1 - 2 • MeetYourNewBoard ofDirectors
Happy Holidays: 2 • MAIAHolidayHours
MAIA News 2 • NewAutoGlassLaw Correction
projectcap News: 3 - 4 •ThisIsNotYourFather‘s SalesFunnel
Comp. Corner: 4 •OARReminder
DOI News: 4 •DOItoLookIntoPossibleUse
ofCreditbyProgressive
More MAIA News 5 - 7•LatestScooponPersonal AutoFilings
Thanks Company 7 Partners
MAIA News: Meet Your New Board of Directors ...
MemberspresentattheMAIAAnnualMeeting,heldduringTheBIGEvent,electedthenewMAIAOfficersandDirectors.
Chairman-Elect
Thomas F. Skelly,Jr.,CIC, LIA,isVicePresidentof SalesandOperationsof DelandGibsonInsurance AssociatesinWellesley.
Secretary-Treasurer
G. Lee Gaudette, III, CPCU,AAI, isPresident ofGaudetteInsurance Agency,Inc.in Whitinsville.
Immediate Past Chairman
Raymond D. Gallant isPresidentofGallant InsuranceAgency,Inc.inActonandL.F.RobbinsInsurance AgencyinPepperill andTownsend.
Glen E. Davis,CIC,is SeniorVicePresident ofProviderInsurance Group,Inc.in Needham
Joan DeCoste,CPCU, CIC,LIA,isCo-owner ofWalterMay InsuranceAgency,Inc. inHingham.
Chairman of the Board
Richard A. Perrasis Presidentof Finck&PerrasInsurance Agency,Inc.in Easthampton.
Vice Chairman
Raymond Sirois, AAI, is PersonalLines ManageratMartini InsuranceAgency,Inc. inWoburn.
State National Director
Joseph P. Leahy is PresidentofLeahy& BrownInsuranceand RealtyinSpringfield.
Beth Sylvia Caldwell, CIC,isChief OperatingOfficer ofSylvia&Company InsuranceAgency, Inc.inDartmouth.
Ben Cavallo isOwnerofC&SInsurance Agency,Inc.in Mansfield
Directors
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MAIA News ... continued from page 1
Directors
Thom DePaulo, CIC, is PresidentofMeridianInsurance Agency,LLC,inEast Boston.
James Herrick, Jr., CIC,isVicePresident ofPersonalLinesat BerkshireInsurance Group,Inc.inPittsfield.
John F. Koegelis ExecutiveVice PresidentofEastern InsuranceGroupin Natick.
Tara PhilbinisVice PresidentofPhilbin InsuranceGroup,LLC inEverett.
John Woods,Jr., CPCU,isPresident ofThomasJ.Woods InsuranceAgency, Inc.inWorcester.
George F. Doherty, CPCU, CIC,AAI,isCo- ownerofTheCorcoran HavlinInsuranceGroup inWellesley.
Edward J. Julianois PresidentofP.S.Dolan InsuranceService,Inc. inBrockton.
Daniel T. Morse, CICisPresidentof MorseInsurance Agency,Inc.inNorth Easton.
John R. Sweeney, CIC,CISR,isOwner ofJohnR.Sweeney InsuranceAgencyin WestSpringfield.
Carl Goveia,CIC,is CommercialLines ManagerofBenson, Young&Downs InsuranceAgency, Inc.inProvincetown.
Ely Kaplansky,CIC, CPIA,LIA,isPresident ofKaplansky Insurancein Brookline.
Dennis F. Murphy, III,CPCU,CLU,ARM, CFP,isTreasurerof D.F.MurphyInsuranceAgency, Inc.inHudson.
Stephen Tarpey, CIC,CPCU,is VicePresidentof TarpeyInsurance Group,Inc.inSaugus.
ThesemembersoftheindependentagencycommunityareyourelectedrepresentativesontheMAIABoardofDirectors.Pleasefeelfreeto contacttheBoardmemberinyourareaifthereisanissueyouwouldliketheMAIABoardtodiscuss,oryoucancontacttheMAIAstaffwithyourquestionsorcomments.YoucancalltheMAIAofficesat800.972.9312or508.634.2900oremailusatinfo@massagent.com.
Happy Holidays to All!
TheMAIAOfficers,DirectorsandStaffwishyouandyourfamilyahappyholidayseason.TheMAIAOfficeswillobservethefollowingholidayhours...
December20,2012- MAIAwillcloseat12:30PMforStaff HolidayLuncheonDecember24&25,2012-MAIAwillbeclosed.December26,2012- MAIAwillreopenat10AMDecember31,2012- MAIAwillcloseat2PMJanuary1,2012- MAIAwillbeclosedJanuary2,2012- MAIAwillreopenat8:30AM
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projectcap News: This Is Not Your Father‘s Sales Funnel
written by Dave Wencel
Successintheinsuranceindustryisallaboutestablishingapassionforservingothersand professionaldevelopmentthatsetsyouapartfromthepack.It’saboutshowingyour expertise,integrityandcommunity.It’saboutbeingthebestatnetworkingandworking togetyournameoutthere.Inanutshell,goodagentseffectivelycreatetheirownbrands thatseparatethemfromtherestofthefieldandcreatestrongconnectionstotheirclients andpersonalcontacts.
Sowhatdoesyourprofessionalbrandlooklike?Ifyouhaven’tdoneitbeforeorrecently,nowmightbeagoodtimetoanalyzeyourbrandusingthe4Psofmarketing:Product,Price,PlaceandPromotion.
4 Product–Whatdoyoubringtothetablethatothersdonot?Thisgoeswaybeyondjustthespecificinsuranceproductsyouoffer.What’syourreputationinthecommunity?Whichorganizationsandcivicgroupsareyouactivelyinvolvedin?Whoareyourcoreconstituents?
4 Price–Howdoesyourinsuranceproductmixmatchinpriceagainstthecompetition?Withthisinmind,areyou targetingtherightaudiencesfortheproductsyouareoffering?Aretherebusinessnichesouttherethatyouhavenottapped?
4 Place–Whatgeographicmarketdoyouserve?Identifyyourmostimportantspheresofinfluence.Intoday’sdigitalworld,“place”canmeansomethingdifferentthaninthepast.“Place”canalsoreferenceourconnectiontoothersinonlinecommunities.
4 Promotion–Isyourmessageconnectingwithyourcoreconstituents,orareyougettinglostintheclutter?Intoday’sdigitalworlditcanbeconfusinghowtotapintothemyriadofcommunicationchannels:TV,print,radio,Internet,texting,socialmedia,email,etc.WhereasinthepastonlybigcompaniescouldcompeteintraditionalpaidmedialikeTV,printandradio,todayeventhesmallestagent/agencycanleverageintonewmediachannelstobuildtheirbrandandstandoutwiththeirpersonalnetwork.
Traditionalbusinesssales/marketingusedtheconceptofasalesfunnel:
Thisoldsalesapproachfollowedaprocessdictatedbyasalespersonorsalesforce.Ittookaconsumeronasinglepathfromleadgenerationtocloseandthat’swheretheprocessended. Newmodesofcommunicationhaveupendedthetraditionalapproachto salesandmarketing.Today’sconsumeristakingcontroloftheprocessthroughabuyer’s“journey.”ThroughthemyriadofsocialmediachannelslikeFacebook,blogs,Twitterandspecializedconsumerreviewsites,consumerscanreadilysharetheirexperiences.AccordingtoDavidEdelman,apartnerandleadingdigitalmarketingstrategistatMcKinsey,today’sconsumer| followsamorecomplexpaththatgoesthroughandbeyondpurchase.Hecallsitthe“ConsumerDecisionJourney.”
Thisimagedepictsthenewconsumerbuyingprocessasanongoingcycle.Nolongerdoconsumersgointoacompany’ssalesprocessandemergeattheendasasale.Rather,theymakeapurchaseandthencirclebackbysharingtheirexperi-enceandadvocacy.Theprocesscontinuesoverandover.Consumerscollaboratewiththeirpeersinonlineforumstohelpthemmakeimportantbuyingdecisions.Perhapsevenmoreimportantisthatinthisnewprocess,theinitial“considerati-on”byprospectsbeginswiththe“advocates.”Considerationbyconsumerscanbealtogetherlostifthebranddoesnothavestrongpartisansto“advocate”forthem.
Build Advocates with Project CAP’s Agency Social Media Program
Tobesuccessfulinthisnewbuyingprocessinsuranceagentsaregoingtohavetodeveloptheirownstrongbrandsandnetworksofadvocates.Beingintouchwithyournetworkofclientsandcontactsisgoingtobeevermoreimportantintoday’sdigitalworld.Aperson’snextbuyingdecisionforinsurancemayverywellbeinitiatedbyreferencestheygetfromothersviaFacebook,Twitteroremail.
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projectcap News: continued from page 3
AtProjectCAPwecreatedournewAgencySocialMediaprogramthatcapitalizesontheconceptofcreatinganongoing processofengagementandadvocacyforinsuranceprofessionalsbytheircoreclienteleandchampions.InProjectCAP’sAgencySocialMediaprogram,individualinsuranceprofessionalsgobeyondtraditionalmarketingbytheagencytotapintopersonalnetworks.Theyelicitpositivereviewsthatenhancethebrandequityforboththemselvesandtheagencyasawhole.ProjectCAP’sAgencySocialMediaprogramisapowerfulsystemthatultimatelycreatesonlineadvocacyofyourcommunitynetworkandresultsinnewbusiness.
Ifyouwouldliketolearnmoreabouthowsocialmediacanhelpbuildyouronlinepresenceandstrengthenyournetworkcontact Project CAP.We’dlovetoshowyouhowbuildingyourbrandcanenhanceyourbottomline.
Comp. Corner:Reminder: Mandatory Use of Online Assigned Risk (OAR) for Producers ...
EffectiveJanuary1,2013,theWCRIBMAwillberequiringallproducerstouseOARwhensubmittingaMassachusettsWorkers’CompensationAssignedRiskPool(MWCARP)applicationtotheWCRIBMA.AnyproducerthatsubmitsaMWCARP applicationusingthehardcopy(mail,walk‐in,orthirdpartydelivery)applicationprocessafterJanuary1,2013maybe subjecttoaprocessingfeereflectingtheadditionalcosttotheWCRIBinhandlingpaperapplications.
OARisaweb‐basedsoftwareapplicationthatallowsproducerstosubmitapplicationsforworkers’compensationinsurancecoveragethroughtheWCRIBMA’swebsitetotheMWCARP.TosubmitanapplicationthroughOAR,aproducermustbearegisteredmemberoftheWCRIBMA’swebsiteMembersArea.AcopyoftheGroupAdministratorOnlineAssignedRisk ApplicationandInstructionsareavailableonmassagent.com®.Also,itisessentialthattheProducerhaveaccesstoascannerinordertoattachrequireddocumentstotheOARapplication.
Currently,theWCRIBMAreceivesmorethan70%oftheMWCARPapplicationselectronicallythroughtheirOARproduct.OARhasproventobeamoreefficientmeansforproducerstoestablishworkers’compensationcoverageforemployersthataren’tabletopurchasecoverageinthevoluntarymarket.
AcopyoftheOARuserguideisavailablebyclickinghere.TheuserguideprovidesdetailedstepbystepinstructionsontheuseofOAR.TheWCRIBMAwillworkdirectlywithanyproducerthatrequestsassistancetopreparethemforusingOARinanefforttoreduceanyconfusionordelaysthatmaycomeaboutastheybegintousetheOARproduct.AlthoughtheWCRIBMAhasprovidedampleadvancenotice,itishighlyrecommendedthatproducersbegintheprocessofconvertingtoOAR immediatelyinordertobecomeself‐sufficientintheuseofOARbeforeJanuary1,2013.
IfyouhaveanyquestionsontheuseofOARoranyothermattertouchedonhere,pleasecontacteitherBuffyBushat(617)646‐[email protected],MaryTraversat(617)646‐[email protected],orDanielCrowleyat(617)646‐[email protected].
DOI News:DOI Agrees to Look Into Possible Use of Credit by Progressive ...
IntheSeptember13,2012editionofTheMassachusettsAgent,wereportedthatMAIAhadaskedtheDivisionofInsurance(DOI)toinvestigatetwoprivateautomobileinsurancequotedocuments--oneeachfromLibertyMutualandAllstate--whichcontainedevidencethatthequotingcompaniesusedcredittounderwriteand/orratetheconsumer,inviolationofMassachusettslawandregulation.
Whilewehavenotheardtheoutcomeoftheinvestigationofthesetwocomplaints,wehavesubmittedathirdcomplaint regardingthispractice--thistimeagainstProgressive.Accordingtotheinformationprovidedbyanagentandherclient,neartheendofthequotingprocessinasectionentitled“PolicyFormsAuthorization,“thefollowingstatementsappear:
Policy Forms Authorization
Wouldyouliketosignyourpolicyformsonline? •Yes(recommended) •NoWhatsigningonlinemeanstome
You will be authorizing your policy forms online.Selecting“Yes“aboveandenteringyourSocialSecuritynumberconstitutesyourwritteninstructionsforProgressivetoobtaininformationfromyourcreditreportforthepurposeofconfirmingyouridentity.Thiswillnotaffectyourcreditratinginanyway.
Toinsureandprotectyouridentity,wewillvalidatethenumberyouprovideagainsttheinformationavailableinyourcredithistoryfile.
SocialSecurityNumber:_____-__-______
Shortlyafterfilingthecomplaint--withtheconsentoftheagentANDtheconsumer--weheardfromtheDOIindicatingthattheywouldreviewthematerialswesupplied.
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Company Effective Date Impact Brief DescriptionAllstate 10/08/12-New
11/22/12-Renewal+8.5% • RevisedBaseRates
• RevisedFutureEffectiveDateDiscountFactors• RevisedFactorsforoneMeritPoint
AIG/Chartis 06/06/12 0% • Rule13.InstallmentPaymentPlan
Arbella 10/01/12 0% Groups
Bankers Standard 12/01/12-New02/01/13-Renewal
0% CompleteProducersManualForms:• AUTO413ACE1212MAAutoEndorsement• AUTO588ACE1212MAPIPCoverageEndorsement• AUTO519ACE1212MACollisionCoverageWaiverof
DeductibleEndorsement• ALL2008871212ACEProducerCompensation
PracticesandPolicies
Commerce 10/01/12 0% Groups
Farm Family 11/01/12 0% Billing
Fireman’s Fund 09/01/12New 10/30/12Renewal
0% NewEndorsement:ThePrestigeAutoPremier(10217308-12MA)thisisanOptionalcoveragetoRule35.PrestigeAutoPremierisanoptionalendorsementthatprovidesthefollowingpackageofcoverages:• ValueLock®ProtectionCoverage• WorldwideLiabilityandExtendedNonOwnedAuto
Coverage• PetCoverage• CarjackingCoverage• TransportationExpenses/CoverageforRentalCars• CoverageforVehicleModificationsfortheDisabled• CoverageforTripInterruptionandEmergencyLiving
Expenses• VehicleIdentityTheft/FraudulentTitleCoverage• CoverageforElectronicEquipment• CustomizedEquipmentCoverage• AutoLoan/LeaseCoverage• OriginalEquipmentManufacturerPartsCoverage• WaiverofDeductible• ReplacementAutoSearchAssistance• CoverageforPermanentlyInstalledTelephones• CoverageforAudioTapes,CompactDiscs,andOther
Media• TowingandEmergencyRoadServiceLaborCosts
Coverage• CoverageforKeys• CoverageforAccidentalDeploymentofanAirbag
Endorsement102173MAmustbeattachedtothepolicyforthispackagetoapply.APrestigeAutoPremierpolicywithautosinsuredforliabilitycoverageonlywillreceivetheSingleCaraccountRate.OnlytheWorldwideLiability,ExtendedNon-OwnedCoverage,andCarjackingCoveragewillapplyinthissituation.APrestigeAutoPremierpolicywithtwoormorevehicleswithcoveragefor Comprehensive(Part9)coveragewillreceivetheMulti-CarAccountRate.SingleandMulti-Carratesaredisplayedonthemiscellaneouscoveragesandvehiclespage.
More MAIA News:Latest Scoop on Personal Auto Filings ...HereisthelatestinformationonprivatepassengerautoinsurancefilingsplacedonfilewiththeDivisionofInsurance:
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Fireman’s Fund continuedfrompage5 A.AdditionalCoverageRequirements1. AdditionalautosonthepolicymustcarryPart
5.OptionalBodilyInjurytoOtherscoveragewithaminimumof$100,000/300,000Limits.
2. ThisendorsementdoesnotapplytopolicieswhereanyautoonthepolicyhasPart7. LimitedCollisioncoverage
B.ValueLockAdditionalCoverageAmount1. Anadditionalcoverageamountabovethe
marketvalueasdeterminedbytheCompanymaybewrittentorecognizeexceptionalvehiclecondition.
2. Chargeanannualrateof$10.00perthousanddollarsofcoverageorfractionthereof,inexcessoftheValueLockamount.
C.GeneralRulesthatdonotapplytoPrestigeAutoPremier:
1. Rule2-CoveragesandLimits,OptionalInsur-anceCoverages,Part9Comprehensive,$100GlassDeductible
2. Rule17-SubstituteTransportation3. Rule33-TowingandLabor4. Rule41-StatedAmountCoverage5. Rule45-AgreedAmountCoverage6. Rule47-CustomizedVansandPickups7. Rule48-OriginalEquipmentManufactured
PartsCoverage8. Rule50-UseofOtherAutomobiles
D.OtherendorsementsthatshouldnotbeusedifthePrestigeAutoPremierendorsementispurchased:
1. AgreedAmount–Comprehensive(MPY-0034-SEd.04-08)
2. CoverageforCustomizedVansandPickups(MPY-0037-SEd.04-08)
3. ExcessElectronicEquipmentCoverage(MPY-0041-SEd.04-08)
4. OriginalEquipmentManufacturerPartsCov.(MPY-0040-SEd.04-08)
5. StatedAmountCoverage(MPY-0027-SEd.04-08)6. UseofOtherAutos–VehiclesFurnished(MPY-
0051-SEd.04-08)OrAvailableforRegularUse7. WaiverofDeductible(MPY-0016-SEd.04-08)
Misc.CoverageforVehicles
12/01/12 0% Forms:CoverageSelectionsPage–nowshowsPrestigeAuto PremierEndorsement;FutureEffectiveDateDiscount;PortfolioCreditdiscount.
04/01/13-New 05/05/13-Renewal
+3.0% AutoRatingTierbeingintroducedinRule26ModelYearUpdatetoRule20Manual:CompleteManualTOCRule11.PremiumCalculationRule26.AutoRatingTierRule44.MotorcyclesMotorscooters,MopedsandSimilarMotorVehiclesIndex
Foremost 11/01/12 0% RVDeclarations&TOC
GEICO 10/18/12-New12/03/12-Renewal
0% BaseTransitionFactorsRulePPA.P.01-AddedBouncedChecks/InsufficientFunds
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GEICOcontinued
12/26/12New01/24/13-Renewal
+2.0% • RateChangevariesbyterritory.Territorialdefinitionsarerevisedtosplitfiveexistingterritoriesintomorerefinedterritories
• EmergencyRoadServiceamulti-cardiscountis proposedinadditiontorevisedvehicleagentandcoveragelimitfactors.
• Modifyingbaseratetransitionfactors
Hanover 12/01/12 0% AdoptedwithoutalterationstheratesymbolassignmentsthatarecurrentlyonfilewiththeDOIasfollows:• ISOCircularSY-AA=2012-013andSY-AA-2012-016• LPMPCircularLP-AA-2012-007ANDLP-AA-2012-005
Liberty 10/01/12 0% Groups
01/15/13-New02/15/13-Renewal
+6.9% BaseRates
Plymouth Rock 11/07/12 0% Groups
01/01/13 0% Groups
01/01/13 +2.9% • BaseRatesforParts1,2,3,4,5,6,7,9• ResidualMarketLoadTable• RemovedlanguagefromMoorcycleRates• NewRule27.TenurewithPriorCarrier• BecauseofnewRule27thefollowingRulenumbers
havechanged:• Rule27isNowRule28• Rule28isnowRule29• Rule29isnowRule30• Rule30isnowRule31
01/15/13 0% • CompleteManual• NewRule26.4:VehicleHistoryScoring
Quincy Mutual 02/01/13 0% Groups
Ifyouhaveanyquestionsaboutthefilingslistedabove,feelfreetocontactDonnaMcKenna([email protected])orKathyCormier([email protected]).YoushouldalsoknowthatallfilingsarepostedonunderPublications- CompanyFilingsinthemembers-onlysectionofmassagent.com.
December 17. 2012