14 Retail/Wholesale Agencies Explore Vision for Best-in-Class Agency 2015

35 US agency managers meet in China to discuss barriers to growth and define best in class agency models for 2015 in the face of a changing industry.

New York, NY (PRWEB) November 26, 2008 -- ReSource Pro, leaders in remote staffing and insurance process outsourcing, announced today the highly anticipated outcome of the 2008 Innovation Summit that took place in Qingdao, China earlier this month. Key topics of discussion included re-examining retail and wholesale agency business models, technology and automation, and the optimal deployment of personnel.

Summit attendees specifically identified continued commoditization of certain lines of business, such as personal lines, as well as a tendency towards greater specialization in more complex risk classes. Many attendees challenged the current retail agency business model, asserting that agency clients do not truly understand their value proposition.

In response to this challenge, conference attendees saw the retail sector moving toward more specialized business services that focus on risk management and more sophisticated analysis and use of online data, in addition to market selection and providing appropriate insurance coverages. Both wholesale and retail agency managers stressed the importance of focusing on business core competencies, developing new paths for talent development, and outsourcing non-core activities to drive performance and competitiveness.

"One of the key concepts I took away from this summit is to prepare and plan beyond the short-term. Think openly; think outside of the box going forward," said Diana Kiehl of California-based agency, Alliant.

Dan Epstein, CEO of ReSource Pro, commented, "Our goal was to bring industry leaders and innovators together to do some long-range planning. Our belief is that leadership in the industry requires a more deliberate effort to challenge old assumptions and focus on true value drivers."

The summit was hosted by ReSource Pro and moderated by innovation expert, Lisa Bodell of FutureThink, to explore agency innovation in the face of a changing industry. Over the course of eight hours, teams from the six retail and eight wholesale agencies brainstormed their vision of the "breakthrough agency" and how to reinvent themselves as a trusted advisors in the industry.

About ReSource Pro:
ReSource Pro is an insurance processing specialist. Agencies delegate their routine, repetitive, back-office tasks to ReSource Pro, so they can focus instead on growing premiums and profit margins. By handling over 1,000 back-office tasks for insurance agencies nationwide, ReSource Pro frees clients to focus on growing business, not managing their back office. For more information, visit www.resourcepro.com

For more information on the summit takeaways, please contact:

Justin Stankiewicz
ReSource Pro
212.297.3171
Justin@resourcepro.com

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