Happy Groundhog Day! We are receiving mixed signals from Punxsatawney Phil and Sun Prairie's Jimmy the Groundhog again this year. Punxsatawney Phil has predicted six more weeks of winter after seeing his shadow this morning in Philadelphia. However, if you prefer to stick to local groundhog news, you're in luck! Sun Prairie's Jimmy the Groundhog predicted an early spring. We'll keep our fingers crossed that Jimmy the Groundhog has some inside knowledge into Wisconsin's spring start.

In this week's Big I Buzz, we are discussing our Member Benefit of the Month, the increasing rate of drivers switching car insurance and the results from a new Thrivent Survey. 

Member Benefit of the Month: Trusted Choice Marketing Reimbursement Program

As a member of the IIAW, you're eligible for Trusted Choice's Marketing Reimbursement Program! This program offers multiple options for reimbursement.

1. Cobranding with Trusted Choice

When you use traditional cobranding on physical marketing materials you can receive up to $750 for use of the Trusted Choice logo on any consumer facing items such as store signage, advertisements, business cards or sponsorships branded with the Trusted Choice logo alongside your agency logo are all eligible! 

Under this same option, you can use digital cobranding to receive a reimbursement. All members can access an additional $750 for Digital Marketing efforts (TV, web, social media, etc.) that include the Trusted Choice logo.

2. Digital Upgrade

All member agencies (one per agency) are eligible to receive $500 for creating a new website with any of the Trusted Choice Preferred Partners. These partners include: ITC, Agency Revolution, Forge3, Titian Web, Advisor Evolved and Marketing 360. This is a flat reimbursement of $500 and all website must include the Trusted Choice logo on their homepage to be eligible for this reimbursement. 

Click here to see more information about these marketing reimbursement programs. 

Drivers Switching Car Insurance at Increasing Rates, Study Finds

A new study from J.D. Power and TransUnion shows that an increasing rate of consumers are finding alternatives when shopping for car insurance. According to Fox Business, "The number of drivers shopping for new insurance has remained relatively steady, with 11.4% of consumers obtaining new insurance quotes in the fourth quarter of 2021, the study showed. But the rate that drivers are switching providers is up, rising from 3.3% in the fourth quarter of 2020 to 3.5% in the fourth quarter of 2021. At the beginning of last year, the switch rate had dropped as low as 3.2%." In the spring of 2021, the studies have shown that high-risk drivers are the most likely to shop for new insurance.Michelle Jackson, TransUnion director of personal lines market strategy has attributed these results to the increased usage of telematics which allows insurance companies to collect information about mileage and driving habits. Additionally, the survey stated that consumers want personalized auto insurance. They're looking for alternative programs beyond traditional time-based insurance. Read more here. 

Thrivent Survey: 70% of Americans Have No Extended Care Plan

InsuranceNewsNet.com has reported that, "Despite the COVID-19 pandemic, a survey from Thrivent found that perceptions toward extended care planning haven't changed, and a significant percentage of Americans have not documented their plans, should the need for extended care arise." The survey found that 51 percent said that COVID-19 has not changed their approach to extended care planning at all and only 18% said that COVID-19 has made them realize that having a plan is more important than ever. Alongside these results, it also found that there are very few men and women who have talked about or have documented their extended care plan with their families. The survey found that a majority of those who haven't documented a care plan are women at 77% of women haven't documented for themselves or loved ones compared to the 64% of men who have. This is a great reminder for everyone to consult with their financial advisors about their extended care plans.

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 emailing list.