GAHANNA, OH – Ohio Insurance Agents Association, Inc. (OIA) creates IntellAgents, LLC, a first-of-its-kind, analytics-driven organization that specializes in actionable insights for independent agents.
IntellAgents, LLC was formed to help independent agents across the country leverage big data in order to make better business decisions for their agencies. Through partnerships with other state-based independent agents’ associations, IntellAgents will have access to thousands of isolated data points across independent insurance agencies and be able to turn them into business intelligence.
"The independent agency system has been overlooked and underutilized in a world driven by data analytics. That ends today. Through this collaborative effort, independent agents will have access to advanced data analytics resources and business intelligence to propel their businesses into the future," states Jeff Smith, CEO of OIA. "Ultimately, these efforts will allow independent agents nationwide to improve the experience and guidance they provide to consumers."
"We have built the largest warehouse of independent agent data in the country to help agents grow, make informed business decisions and compete in the ever-changing insurance marketplace. The benchmarks and insights that we can provide to agents are more relevant than the national benchmarks that are available today. Utilizing the data in a specific marketplace is much more meaningful to our agents and will allow them to make informed business decisions about the growth and future of their agencies," states Carey Wallace, CEO of IntellAgents.
To date, Ohio Insurance Agents Association is joined by six additional investors, including the Florida Association of Insurance Agents, Independent Insurance Agents of Illinois, Massachusetts Association of Insurance Agents, Michigan Association of Insurance Agents, Insurance Agents & Brokers of Pennsylvania, Maryland and Delaware, and Independent Insurance Agents of North Carolina, to lead the effort in bringing data analytics insights to independent agents.
IntellAgents products and services will be in the investor states, as well as several other “subscriber” states, in 2019. Availability will continue to expand rapidly throughout 2020.
"We are excited to partner with our colleagues on this initiative that will provide our members the data-driven strategic insights they need to excel in today’s increasingly competitive environment," said Nicholas A. Fyntrilakis, President and CEO of the Massachusetts Association of Insurance Agents. "As an association, we need to evolve and ensure we are providing value to our agents, and IntellAgents is key to that evolution."
"Bringing together agent-led organizations who all share the same mission, to help independent insurance agents grow and prosper, ensures that our agents’ success is always the focus of IntellAgents. Our state association organizations are perfectly positioned to maintain the trust and loyalty of thousands of independent insurance agents across the country. It is a natural fit with our collective mission to leverage independent agents’ data to provide meaningful insights and offer business consulting services to put those insights to use in agencies across the country," said Carey Wallace.
"The insurance industry has long relied on data to both improve and be more efficient. Unfortunately, independent insurance agents haven’t had the resources to do the same," said Jason Ernest, President and CEO of Pennsylvania-based Insurance Agents & Brokers.
"That changes today. Through IntellAgents, we will be providing agents the data points they need to compete better. We are very excited about this partnership."
About IntellAgents, LLC
IntellAgents, LLC is a first-of-its-kind, analytics-driven organization that specializes in actionable insights for independent agents. Founded in 2018 by Ohio Insurance Agents Association, it is the fastest-growing independent insurance data warehouse in the country. IntellAgents products and services are available in Ohio, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan, North Carolina, and Pennsylvania. Availability in other states will continue to expand throughout 2019.
About Ohio Insurance Agents Association
Ohio Insurance Agents Association (OIA) is the collective voice of 1,300 independent agencies that employ nearly 10,000 Ohioans. We promote, progress and protect the professional advice and guidance only independent insurance agents provide. OIA members write 82 percent of the commercial insurance policies and 44 percent of personal insurance policies in Ohio. OIA helps agents by providing agency valuation, succession planning, generational health, operational benchmarking reports, other business solutions and industry thought leadership.
Last Friday evening, the Federal Emergency Management Agency (FEMA) announced that the National Flood Insurance Program (NFIP) will resume the normal sale of new insurance policies and the renewal of expiring policies.
This order rescinded an earlier decision that halted sales operations by the NFIP because of the current government shutdown and lapse in appropriations.
The reversal came after banking, insurance and political leaders from both parties criticized the halting of sales of new and renewal flood policies. Critics said that FEMA was ignoring the intent of Congress to keep the NFIP operating during a shutdown expressed when on Dec. 21, 2018, it passed legislation that reauthorized the NFIP until May 31, 2019.
Insurance, Banking Groups Balk at Limits on Flood Insurance Operations During Shutdown
Critics also argued that any disruption in sales of flood insurance could hold up real estate closings. “FEMA’s unexpected decision will complicate and delay loan closings for borrowers who are required to carry flood insurance and seek NFIP coverage for as long as the government shutdown continues,” the American Banking Association (ABA) said in a statement earlier yesterday.
FEMA said all NFIP insurers have been directed to resume normal operations immediately and advised that the program will be considered operational since Dec. 21, 2018 without interruption.
Sen. John Kennedy, R- La., a sponsor of the NFIP reauthorization bill, was among the lawmakers trying to get FEMA to restart normal operations.
“It’s taken a lot of phone calls to Washington, D.C., but FEMA finally came around to what I recognized from the beginning. My reauthorization legislation, which was signed by President Trump into law, prevents any disruption to the National Flood Insurance Program,” said Sen. Kennedy.
Rep. Maxine Waters, D-Calif., ranking member of the House Committee on Financial Services, was among those who also urged FEMA to reconsider what she called its “harmful and incorrect interpretation of its authority” and resume its “important work of providing flood insurance.”
This article was originally published by Insurance Journal on December 28, 2018.
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