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PLGA Presentation at AUGIE Meeting – Talking Points
The Personal Lines Growth Alliance is one year old this month. I’ve been executive director since September and can honestly say this is the right time for this organization.
I say that because we have a fairly simple mission, which is to help independent agents and brokers grab a larger share of the personal lines market. We do that by conducting an educational, communications and leadership campaign to do two things, primarily. First, raise awareness of the value of personal lines business for agents and brokers and second, help them understand how to go after it.
Personal lines is a $230+ billion business, 50% of all Property/Casualty premiums. Personal Auto alone account for one third of all P&C premiums annually. And independent agents and carriers only capture around 35% of it. $150 billion goes to the likes of lizards and cavemen.
The current economy has hit our industry, as you all know, but fortunately not as bad as others. I’m sure all of you are feeling it in the commercial lines area. The recent survey conducted at the Joint Industry Forum shows that CEOs from the leading insurers agree. While they believe the worst is behind us, by line of business, they see a difficult year ahead for commercial lines while conversely seeing a continued improvement and growth for personal lines business.
That’s why it is a great time for agents to focus on the personal lines market. And PLGA is here to help.
First, PLGA is all about helping agents and brokers grow their share of the personal lines market and so membership is free for them. I hope you will all join if you’re not already a member.
Carrier and solution provider partnership fees are less than the price of a single full-page ad in most trades, so it’s not a huge investment but potentially can return a lot back to the companies.
Associations and User Groups are an important source for getting the PLGA message out and so, I will trade memberships with them for support like this.
I encourage you to visit the website – http://personallinesgrowth.org and check out our blog and feel free to send me your comments. You’ll soon find our latest feature, a regular podcast series entitled, The Power of Personal Lines. If you have a success story to share on how you’ve increased your personal lines market share, drop me a note and maybe we can do a podcast on it.
We’ve recently started up the monthly eNewsletter again and members are automatically be added to the list.
In the future, we’re looking at maybe doing some webinars, developing a best practices guide, providing some agency analysis of your current preparation for personal lines growth.
My last point I’d like to make is to acknowledge all of the great work that AUGIE, ACT and AIMS do which ultimately help agents to improve their bottom line and some of that is by helping them to grow their PL business. There are many other organizations in the industry that share our common goal as part of their own missions, but there are none, that I’m aware of, whose sole purpose is to grow the Personal Lines market share for independent agents and brokers and the carriers they represent.
I hope you’ll come and check us out and decide to become a member or supporting partner.