Archive for March, 2010

The Patient Protection and Affordable Care Act was signed by President Barrack Obama today, leaving many in the insurance industry (distribution side specifically) in a wait and see mode with regards to how the legislation will directly or indirectly impact their businesses .  Agents that focus heavily on health insurance are questioning what role they will have in the new system.  Many anticipating this legislation, began diversifying their business spending time and resource on introducing or expanding their role in ancillary lines, e.g., LTD, Life and voluntary group products sold at the workplace.  This diversification will pay dividends long term especially given the fact no one knows for certain how this legislation will impact agents.

Another subset of the marketplace questioning  their role are those in the limited medical business.  We have talked with agents who focus in this area, and they too are looking  at complimentary lines of business to enhance their position in the event their programs are in jeopardy.

Cranbury Professional Service has always been a strong advocate for diversifying business models.  Having a diverse business model helps insulate your overall business in the event of market change.     

We would like to hear from you:

Have you explored  new revenue sources in anticipation of the legislation, or are you now considering looking to alternate products, and channels?

Please post a comment or feel free to call us at 630-501-1193 to discuss ideas.

George Bode

“All things change, nothing is extinguished”—-Ovid

Michael Barron and I are at the American Institute of Association Group Insurance Administrators (AIPAGIA) conference this week in beautiful Captiva Island Florida.  We will be meeting with many of the leading insurance agencies and third party administrators who specialize in the association and affinity group insurance marketplace.   AIPAGIA is a very unique and special organization in that its members share freely with best business practices, which ensures everyone always come away from the meeting with several meaningful new ideas or concepts. 

As part of the conference, AIPAGIA will be conducting a panel on social media and its potential impact on our businesses.  Business consultant, Scott Klososky will be the keynote speaker for this panel followed up by Mike Wise, who will be highlighting live examples of social media applications that have been launched in the insurance space.

The timing of this panel presentation/discussion is great given the fact that many of the AIPAGIA members have been very active in the electronic channel by marketing insurance products and providing online applications, but are now interested in taking the next step moving into the social media environment to compliment their current e-strategies.

We look forward to the panel discussion and the rest of the conference. 

Now if only the sun would come out, it would be ideal!
George Bode

Why Web 2.0?

Cranbury Professional Services recognizes the value in a dynamic vs. static web presence in communicating and interacting with both clients and prospective clients. We look to educate and engage in meaningful dialogue leading to solutions based consulting.  We want to hear from you.

We seek insurance agencies and third party administrators looking for product and sales and marketing consultation.  We have a proven track record of working with 60+ insurance agencies and third party administrators who specialize in the group association and affinity insurance distribution and special risk marketplace.  Our clients have benefited from our experience and objective consultative advice.

We are active in both the Profssional Insurance Marketing Association (PIMA) and the American Institute of Professional Association Group Insurance Administrators (AIPAGIA) the premier organizations focusing on mass marketing of insurance products to the association/affinity marketplace.

We will be attending the AIPAGIA conference next week, and look forward to spending time with many of our clients exchanging ideas.

Please check back here as we will be posting new information relative to insurance ideas/products and sales and marketing strategies. But equally important we want to hear from you, so please click on the comments button below and share your thoughts or questions.

Cranbury Team

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