NYiDAY Lights Up Times Square

NYiDAY Program Delivers, Lives On

If you weren’t in attendance at NYiDAY 2016 in Manhattan a few weeks ago, you missed out. But have no fear, we’re bringing you some of the highlights and sharing news on how to take advantage of the event’s content.

View from 50,000 Feet
Set in dynamic Times Square, IIABNY crafted the NYiDAY program to offer solutions to the pain points agency leaders are experiencing. From a super session panel discussion on emerging issues to breakout sessions focused on hiring, agency perpetuation, customer experience and agency management systems, and ending with a fun chat with Mike Greenberg—the program was top notch. Post-session buzz was excellent across the board.

The show floor was filled with almost 60 invitation-only solution providers; a high-quality group the team felt would directly address the needs of attendees. In a post-event survey, attendees unanimously agreed the providers were great. Networking was easy on the show floor, the connection lounge and during the cocktail hour.

While technology was a constant theme in the program, it also was used throughout the event with a technology-vibe atmosphere and an interactive mobile app. Over 75 percent of attendees used the app for polling, connections and access to class and exhibitor materials.

Session Roundup
Super Session: Solutions for Emerging Exposures

Industry experts from the DFS, Moody’s, ISO and ELANY spoke with Sam Friedman (Deloitte) about the new risks and exposures emerging daily through cyber threats, the internet of things, terrorism, and tech advances. This power group jumped into the ideas of stand-alone vs add-on cyber coverage, how driverless cars could impact commercial and personal lines and what the sharing economy means for insureds. From potential markets and coverage forms to regulatory issues, the depth of this session shows there is much more to come.

How to Hire and Train Great Talent
A very popular session with Claudia St. John of Affinity HR. She shared her belief that due to the number of online resources, the ability for businesses to successfully recruit talent has never been easier. But there are some pitfalls to watch out for, including the interview process. Leaders need a process that is effective and legally compliant. If nothing else, she suggests agencies Google “prohibited interview questions.”  Claudia also shared the power in behavioral testing and group interviews. The class wrapped with IIABNY’s Training Tracks—a self-directed guide to creating valuable employees.

Maximizing the Value in Your Agency Management System
Your agency management system, and the information in it, is likely underutilized. Steve Anderson shared the importance of evolving to a new mindset and building a digital sales culture, creating effective workflows, working with documents and how to master carrier communications (which he says you can and should do). Steve says no one in an agency gets enough training and that vendors, user groups, and outside consultants are willing and able to fill that void.

The Shock and Awe of the Customer Experience
“How well are you delivering a positive customer experience?”  After seeing the shock-and-awe experiences examples, you can bet attendees were left feeling they have room to grow. Sydney Roe, of Agency Nation shared examples ranging from human touch to digital touch, including an example phone call from an agency (Yikes). Sydney suggested leaders review all interactions a customer could have with employees, websites and everything in between. Then make improvements—many are easy. Tool tip: Trusted Choice’s free “Power of 30 Seconds” helps employee phone skills.

Key Considerations of Agency Acquisition and Perpetuation
With mergers and acquisitions growing in the IA channel, the timing of this session, like all the others in this program, is spot on. Insurbanc’s Dave Tralka, Sica Fletcher’s Michael Fletcher and Sabrina Sally of Swiss Re, discussed the pillars, pros and challenges of perpetuation, and how to gain capital and insight on structuring the deal. They presented valuation techniques and shared an impressive increase in leveraged buyouts, including which companies are buying. Tips were given on E&O considerations before you buy.

Other Sessions
Applied and Vertafore both presented innovative new tools.
Pictometry is an interesting and cool tech asset. They demonstrated how their fleet of drones provides aerial photos of properties for the insurance industry.

Something Unique—Students
Another unique and interesting aspect to the day, IIABNY invited students from St. John’s University-School of Risk Management, Insurance and Actuarial Science to apply for a grant to attend. Fifteen students, armed with resumes, soaked in sessions and networked with agency owners needing qualified candidates. IIABNY says helping to grow and educate the talent pool is an area of focus.

Facing these Issues? Say Hello to NYiDAY On Demand
The topics that NYiDAY addressed were chosen because they are the issues agencies face today. And not just the agencies who were able to attend, but the entire IA channel. The IIABNY team developed a tool for leaders and their teams around the state and beyond to gain access to the valuable knowledge the event offered. Enter NYiDAY On Demand.

Launching later this month at NYiDAY.com, visitors can watch sessions, learn about and connect with solution providers and access a library of resources provided at NYiDAY.

“Independent agents are facing incredible challenges, both in the changing landscape of exposures and in the competition to provide protection for them. Our mission is to help agencies succeed,” said Lisa Lounsbury, IIABNY’s Sr. Vice President. “The incredible feedback for NYiDAY’s sessions made it a no-brainer to push forward—with support from our amazing sponsors—in sharing it on a bigger scale. The more independent agents who benefit, the better.”