In this week's Big I Buzz, we are discussing new changes coming to IIAW Committees, how agents can adapt to the "new normal" and how major US insurers see lower coronavirus costs than expected. 

New, Exciting Changes to IIAW's Committees

The IIAW Committees are more important than ever! With the launch of our Online Community on November 1st, we will be moving our current committees online, and committees will now be called "Groups".

Group participation in our Online Community with be recognized and awarded! Earn gift certificates to your hometown restaurants, donations for your favorite local charity, IIAW swag and prizes.

If you're new to the Association or have thought about joining a committee in the past, now is the time to join as a Thought Leader on our new Online Community. A "Thought Leader" is an industry leader for topics within a Group. If you want to join a Group without being a Thought Leader, you can! Three is no limit to the number of Groups you can be a member of. The invitation to join a Group as a member and not a Thought Leader will be sent at a later date. Learn more about the Online Community, its Groups and Thought Leaders here. 

Digital, Accelerated: How Agents Can Adapt to the New Normal

With easy, instant, online buying experiences now the norm, consumers have come to expect the same from every company they do business with. COVID-19's impact on our everyday normal has accelerated the shift towards digital. Foundational tools for a digital shift internally include agencies setting up a virtual private network (VPN), investing in a cloud-based agency management system (AMS) and also, setting up a Voice over Internet Protocol (VoIP) phone system to let your staff make and receive calls from your office number even if they are working from home. Read more from Independent Agent here. 

Major US insurers see lower coronavirus costs than expected

A new Q2 2020 report of five insurers that have large US operations shows what they call a 'relatively modest $2.5 million blow'", according to analysts cited by Reuters. "The $2.5 billion loss is lower than was initially feared and the loss has been absorbed by the industry without insurers resorting to more bad tidings in the form of major claims just around the corner, considering that the coronavirus continues to spread," according to Insurance Business Magazine.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren't subscribed, click here to add your email to our mailing list. We hope that everyone has a great rest of their week!