A Premium Has Been Placed on the "Professionalization" of Agency Practices says ALIRT Insurance Research.

WINDSOR, Conn., Jan. 24, 2022 /PRNewswire/ -- With the explosive growth of private equity investment in the insurance brokerage/agency space over the past decade, a premium has been placed on the "professionalization" of agency practices.  Solid insurer due diligence (including on-going data management of carrier exposures and the establishment of security committee protocols) is fast becoming a priority.

ALIRT Research recently conducted a three-part interview entitled Benefits of Managing Your Insurer Exposures: Drive Revenues, Reduce Risk with Jordan Riley who over the past decade developed and oversaw business analytics for AssuredPartners.

In part 1 of this series, Driving Revenues, Jordan describes how he was able to generate multiples of his salary plus system budget each year through additional revenue generation.

In part 2 of the interview, Reducing Risk, Jordan explains how maintaining strict oversight of an agency's insurer exposures can help it dodge potentially devastating E&O claims, avoid acquisitions that may prove costly due to overconcentration to troubled carriers, and save on internal costs by avoiding duplication of efforts across agency acquisitions.

In the final part of this series, How Do I Build It?, Jordan discusses the logistics of establishing a strong data management system, including the pros and cons of using outsourced services and the potential costs and personnel requirements involved in establishing such a system.

The interviews can be found at  http://www.alirtresearch.com/

About i2xSolutions

i2x Solutions is a full-service business and technology consulting organization focusing on the legal and insurance technology sectors.  We specialize in integrations, customizations, installations, upgrades, data import/export, report development, and more.  Additionally, i2x provides business expertise, consulting, and IT support for regional/local businesses and large insurance receiverships around the nation.  Whether you want to improve your business, connect systems, or build an app, we can help.

For additional information, please contact Jordan Riley at [email protected]

About ALIRT Insurance Research

ALIRT Insurance Research models the financial performance trends of life, health, and property & casualty insurers versus their peers and respective insurance industry sectors.  This work is used by ALIRT's clients to meet due diligence, competitive intelligence, and sales/marketing needs.   With over 20 years of experience, long-time insurance market relationships, and an emphasis on service, ALIRT helps its customers go beyond ratings and financial data to enhance and strengthen their insurance carrier oversight efforts.

For more on ALIRT Research, please contact Andy Felder at [email protected]

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SOURCE ALIRT Insurance Research