“We basically try to stay ahead of what we think is going to be most helpful for our program administrators running their businesses–information that they can use either to stay profitable or become more profitable,” he said.

In the workshop on “Growing Your Agency During a Soft Market, Part 1: Strategies to Drive Operational Performance,” ReSource Pro Chief Executive Officer Dan Epstein will outline three strategies designed to improve agents' operational efficiency.

“The idea is that most agencies are run by people who are producers, or sales people, and so their predominant focus is how to drive new revenues into the business,” Mr. Epstein said. “But I think a neglected area of the business is how to optimize back-office operations as kind of the engine that drives the whole vehicle.”

He noted that in a soft market, rates go down for everyone, and agents have to write more business just to stay in the same place. By developing more efficient ways to do business, he said, agencies will be able to streamline operations and get better use out of the employees they have.

The first strategy Mr. Epstein will discuss is focusing on core services versus non-core services. He said many agencies have employees who spend over half their time doing clerical work that does not help drive business.

Agencies should develop strategies to relieve employees of these non-core activities, Mr. Epstein said, so workers can focus on areas such as cross-selling and developing new products. The agencies can then outsource some of the non-core clerical tasks, he explained.

(Editor's Note: Mr. Epstein's company–New York-based ReSource Pro–is a “remote staffing” company that performs back-office processing tasks for managing general agents, program managers and retail broker clients using a staff based in China.)

The second strategy–”utilizing lean methodologies to streamline and standardize workflows”–is a concept that comes from Toyota, said Mr. Epstein. He explained there is a lot of redundancy in most lines of work that, if eliminated, would improve efficiency in a business.

For example, Mr. Epstein said if information is not entered into a system correctly the first time, it causes more work later on when that information has to be located again.

“Can you put certain checks and balances into the workflow that will ensure greater consistency of delivery and quality of data, so that later on you don't have to go scurrying around for information?” Mr. Epstein asked.

Agencies, he suggested, should look at the whole workflow from insured to carrier, and identify what steps are redundant within that system.

Once those steps are identified, agencies can focus on the third strategy–optimizing systems to measure and manage performance. Mr. Epstein said agencies should look at their management systems and run activity reports to gain insight into what people are doing and how that work can be improved.

“You can only manage what you measure,” he said.

The workshop will also include a speaker who has successfully employed the elements of this process.

Part 2 of “Growing Your Agency During a Soft Market”–which is titled, “Alternative Income Strategies”–will employ a roundtable format and feature Jeremy Hitzig, CEO of Distinguished Programs. Session participants will discuss four strategies designed to “generate income above and beyond the traditional commission-based model,” according to TMPAA's preview of the session.

The four strategies are:

o Risk sharing using an agency captive or rent-a-captive.

o Using premium financing to generate income.

o Developing inspection and loss control services.

o Utilizing purchasing groups and risk retention groups to boost income.

The third workshop dealing with the soft market is titled: If It Ain't Broke…It Still May Need Fixing!” During this workshop, Tim Anders and Mark Kissick of Zurich will talk about ways to reinvigorate existing programs and mitigate pricing pressures.

TMPAA's preview notes that “a softening market cycle is no time to have a program stalled in a complacent mindset and 'dated' practices.” The discussion will include strategies regarding captives, marketing plan development and execution, predictive modeling, as well as a focus on customer-centricity.

Related to that topic, another workshop, “Competitive Advantage: Differentiating Your Program With Product Enhancements,” will focus on “specific program enhancements and add-ons that could bolster the sales and retention” of products.

That workshop will feature Glenn Clark, president of Rockwood Programs, as the moderator of a panel of experts that include: Mark Camillo, assistant V.P. for AIG's Identity Theft and Fraud Group; Rich Robin, president of NAS Insurance; Bob MacKoul, CEO of New Empire Group; and Mark Barry, senior V.P., global marketing, at HCC Specialty Underwriters.

The workshops will begin with a presentation about effective leadership and building a healthy corporate culture. The presentation will be led by Greg Thompson, who is CEO of THOMCO and TMPAA's president.

Aside from the workshops, the TMPAA Summit will feature a “Mergers and Acquisitions Panel Discussion,” “Carrier Presentations,” and a keynote address on Tuesday, Oct. 14 by former House Speaker Newt Gingrich.

Mr. Scotto said of the keynote presentation: “Obviously, Newt Gingrich is a very well-recognized name in our country. I think we expect to hear from him some insight into the current political and financial climate [and] maybe some insight into what the election might bring–from his point of view, anyway.”

While Mr. Scotto said Mr. Gingrich will not likely address insurance issues specifically, he said the former speaker is knowledgeable regarding the business community and the financial health of the country.

Mr. Scotto also said while the recent turmoil in the financial markets is not specifically on the agenda, he expected that it will be discussed at networking events throughout the Summit.

“I don't think there's any way of avoiding discussing that because it affects a lot of the companies in our association,” said Mr. Scotto.