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2015-06-01
By: Advocate Brokerage
We’re proud to be a part of PRMA! Denise co-facilitated a Roundtable for agency owners to celebrate its one year anniversary. Check out the press release below for more information.
LAS VEGAS, Nevada – The Private Risk Management Association (PRMA), a member-owned, not-for-profit association committed to the advancement and growth of the high net worth (HNW) risk management & insurance niche, capped off its one year anniversary with a series of productive roundtables and a host of innovative ideas and best practices shared among its membership.
PRMA met in conjunction with the PURE Leadership Event in Las Vegas. Denise Koslowsky, Principal of Advocate Brokerage in Scarsdale, N.Y., co-facilitated the Roundtable for Agency Owners along with Gil Lai of NFP P&C Private Client Group in Morristown, N.J. As a group, they took a deep dive into how the structure and operations of an agency can contribute to success in serving HNW clients.
“This was a useful and robust discussion to help grow business and improve client retention,” Koslowsky said.
The panel, representing exclusive agencies across the United States, took up topics including agency management systems, where referral sources come from, how to pay producers and referral sources, support staff issues, and perpetuation and family relationships. All agreed that the format was just right for the agencies to help and learn from each other.
“We could never have achieved a better cross section of insurance agencies dealing with high-net-worth insurance in the United States,” said Koslowsky.
Present at the Roundtable for Agency Owners were Carrie Babij, Desert Insurance (La Quinta, Calif.); Mike Wardenburg, Costello & Sons (San Rafael, Calif.); Steven Pincus, Dewitt Stern,(New York City); Dudley Wooley, Ross & Yerger (Jackson, Miss.); and Christopher Cay,Cay Insurance Services (Savannah, Ga.).
This session was the beginning of PRMA forming confidential peer support groups with a vision to pair professional and intelligent agents from across the country wisely to share with and support each other, and to meeting in person at the annual event while continuing a dialogue throughout the year.
The PRMA event also held a Producers Roundtable and a Managers Roundtable, featuring similar groups of insurance professionals with much to share in the high-net-worth space. Susan Ogrodnik-Smith, Hub International (Mass.), facilitatorof the Managers Roundtable, reported that the diverse geographic representation of agents assisted the openness and honesty of the discussion, as did the small size and exclusivity of the group.
Managers Roundtable participants included Peter Gibb, Starkweather and Shepley (R.I.); Tammy Eubanks, Senn Dunn Insurance (N.C.); Julie Rison, Rutherford (Va.); Joe Clark, Willis (Penn.); Adam Kendall, Associated Bank (Minn.); Colleen Bab, Cook Meran (N.Y.).
The Producers Roundtable facilitated by Pam Flaherty of NFP (Chicago, Ill.) was a down-to-brass-tacks discussion of best practices, client trends, carriers, referral partners, team talent and marketing ideas. Participating were Sherry Soileau, BankCorp South (Baton Rouge, La.); Patrick Brownfield, Hub (Jackson, Wyo.); Randy Morreale, Neefus Stype Agency (Aquebogue, N.Y.); Todd Triano, Nebco (Greenwich, Conn.); Jordan Bryan, Ross & Yerger (Jackson, Miss.); and Karen Reyes, Bouchard Insurance (Clearwater, Fla.).
The success of the event was apparent and sets the framework for a successful future for the PRMA and its members, Koslowsky said.
“Some agents were concerned initially about sharing their trade secrets with ‘the competition,’” said Koslowsky, “But in truth we all know that if you run your business well, and your retention rate remains well above 90 percent, worrying about competition with your insurance peers is meaningless.”
PRMA provides specialized education and practice management resources, while raising awareness of and advocacy for the niche. Members include many insurance agents and brokers, carriers, and other specialists who serve the wealthy. Visit privateriskmanagement.org to learn more.
