What's in a GA?

Now if that isn’t a loaded question, I don’t know what one is.  As a veteran of the industry who has serviced the New York metropolitan general agency market for over eleven years and now finds himself working from inside of a general agency, I think you might find my perspective on the inner workings of the general agency somewhat interesting, if not pleasantly surprising altogether.

Let’s start off with examining the delivery of broker service.  I’m sure that we can find a few hundred different answers as to what that phrase actually means, but let’s start with the basics.  At Savoy Associates, the focus on broker service is always paramount, and it begins with the Business Development Team.

Each team is led by an experienced Account Executive, a true representative of the general agency and its carrier partners, and somebody to be there for the brokers anytime, anyplace.  The AE is responsible for the health, wellness, and productivity of the broker’s relationship not only with Savoy Associates, but also with any groups or carriers with which that broker might need assistance, including all new and existing business and everything in between.

AEs understand plan strategy, market trends, key differentiators within carriers, vendors and products, federal and state legislation and regulations, operational processes, industry technologies, large group, small group, ancillary lines, the individual market, how to run a meeting, when to speak up, when to shut up (though some might find that hard to believe in this particular case), and infinitely more, which I don’t have the space for here.

So as a broker, your AE is your best friend. That is, right up until they’re in a meeting or on the phone, and you need them right now.  So then what happens?

That’s when the Account Manager steps in.  Your AM is a true advantage because they are as astute as your AE, and yet almost always in the office.  An AM has the ability to answer the tough questions, address complex issues, and keep up on the rules that just came down from Washington, Albany, Trenton, or your local insurance carriers.  Most importantly as an AM, you’re there and available when your broker needs you most.

The Account Consultant is the third and final member of the team.  We’ll call them ACs because we don’t have enough acronyms in this article yet, and we’ll note that the AC is the oil for the team’s machine.  Simply put: they get it done.  If it needs to be processed, your AC knows the Who, What, Where, When, and most importantly, How to most efficiently accomplish any given task.

One of the best parts about being on a Business Development Team at Savoy Associates is that you are, in fact, part of a team.  And slightly better than that actually is the fact that the teams work together as part of an even larger squad.  While individual members routinely assist each other in balancing the workload, the seven Business Development Teams themselves also rely on each other.  If any member of any team needs to leverage another, the theme is not the one of friendly competition that’s seen in so many sales and service industries, but rather one of, "How can I help you?".  The client, be it a broker, group, carrier, vendor, or coworker, always comes first.

And then there’s the network.  Behind the seven cooperating Business Development Teams (BDTs from here on, as I forgot to assign them an acronym earlier!) are an array of professional departments that specialize in a variety of disciplines.  Each department has a team of specialists that is dedicated to the Savoy Associates brokerage community and services the BDTs.

For starters, just because there’s so much out there for the BDTs to know, Savoy Associates has a complete Group Ancillary Department and an Individual and Family Health Insurance Department to back up the teams. Brokers can work through their team, or go directly to these specialists, and in either case receive a truly elevated level of expertise and access.

To implement business with either Savoy Associates or one of its carrier partners, there’s a department for Licensing and Carrier Appointments.  If a broker is new to the industry, a given carrier, or to Savoy Associates, they have everything they need to get started laid out for them, step-by-step; there’s no need to hunt for paperwork or contacts.

To keep everyone in the know, there’s a Research and Education Department; they specialize in keeping everyone current on legislative changes, federal and state laws, and carrier rules and regulations.  This department is also responsible for authoring material and teaching CE courses through Savoy Associates Insurance Education Services, reminding us all that we have no idea how much there is to learn every day.

Of course, all of that information is disseminated through Savoy Associates’ comprehensive, interactive and industry-leading website, where professionals turn for reference guides, product information, business checklists, carrier news, industry updates, and so much more.

And of course, once a broker has been bombarded with this barrage of enlightenment, the Marketing Department is there to assist and advise regarding materials for their clients and prospects.

Lastly, there are the true operational teams that maximize Savoy Associates’ electronic capabilities to quote, enroll, renew, and report on all of that stuff we just outlined!

And now we’re halfway home.  Yes, I really just said halfway.  Because attaining educated, equipped, well-serviced, productive and happy brokers only constitutes half of what a true General Agency is supposed to do; having satisfied and appreciative carrier partners is the other.  The real value of a GA can only be completely measured when we ask a carrier what they think, as well.

We can assume carriers routinely ask themselves:

• Is our corporate message and mission being delivered properly and accurately?
• Is the case work complete, clean and correct?
• Was our educational material or urgent news delivered in a timely and accurate fashion?
• Is my product being shown not only in good times (i.e. with competitive rates), but also in bad times (i.e. with higher than average rates)?
• Are our technological and other investments and initiatives being embraced and utilized?
• Is the general agency service I’m paying for being realized, or am I merely paying to aggregate broker activity?

In the end, all of these 'carrier-centric' points add up to one real question for the general agency:  As a GA, are our carrier partners satisfied with our performance because they can clearly identify the value that we provide?

As the general agency, our job is to service the marketplace, carrier and broker alike.

As a new Account Executive at Savoy Associates, my job is to try to keep up with this ever-changing industry, provide our carrier partners tangible value, and enable our brokers to be more productive and more knowledgeable than their competition.

So now I ask you, what did you think was in a GA?