Happy Wednesday! In this week's Big I Buzz, we are discussing a new scam on the rise, a new blood test to detect sleepiness and an update on next week's newsletter. 

Virtual Kidnapping Ransom Scam

Virtual kidnapping ransom scams are on the rise, and they can occur via phone calls from an outside area code or even look like it's a local phone number. The caller will allege that a family member has been kidnapped or is injured and won't be allowed to go to the hospital until damages are paid. To avoid becoming a victim of this extortion scheme, people should look for specific indicators, such as calls not coming from the alleged kidnapped victim's phone and callers going to great lengths to keep the person on the phone. In addition, individuals can try to slow the situation down, request to speak to the victim directly, and attempt to call, text or contact the alleged victim via social media. People should not directly challenge or argue with the caller and should notify the local police department at the earliest opportunity. Read more about these scams here. 

Australian Researchers Develop Blood Test to Detect Sleepiness in Drivers

Researchers at Monash University in Australia have developed a blood test that can detect sleepiness in drivers. The test is based on identifying five biomarkers in the blood that can determine if an individual has been awake for 24 hours or more with 99% accuracy. The test's accuracy dropped to 90% when tested in closer to real-life situations. However, researches are currently working to improve the test so that it can quantify the number of hours an individual may have slept prior to taking it. Portable tests that could determine sleepiness on the road could take another five years to arrive. The test could pave the way for the prosecution of drivers and their employers if a crash was a result of insufficient sleep. Read more here. 

Next week - Wednesday, May 17th

The IIAW is very excited to be hosting our 124th InsurCon next Tuesday and Wednesday in Oshkosh, WI. Because of this, we will not be sending out a Big I Buzz newsletter next Wednesday. If you aren't attending InsurCon2023, you can see all of the exciting things happening on our Facebook page.  Plus, we post great things daily outside of convention time too! 

Don't forget if you haven't already updated your information to head back to this week's Big I Buzz email so you can receive our monthly email curated for you and your role.  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.

Happy Wednesday! In this week's Big I Buzz, we are discussing how AI technology is complicating copyright law and Catalyit's State of Tech Report. 

Copyright Law Complicated by AI Technology

The US Copyright Office is grappling with the role of human authorship in art created by AI technology. George Thuronyi, deputy director of the Office of Public Information and Education, said the issue had raised "difficult questions" after an author submitted a comic book that included AI-generated artwork. While originally approved by the Copyright Office, the registration was later cancelled after the artist boasted on social media that she had "duped" the office. Thuronyi said there were "gray areas" where human authorship was unclear, such as when an artist altered their own work using an AI program. You can read more about the complications here. 

Catalyit The State of Tech Report is Now Available!

Catalyit's State of Tech in Independent Insurance Agencies Report is now available for you to download, and as an IIAW member, you can access the report for free here. 

Catalyit surveyed agencies around the country to learn about the technology they are using and how they feel about it. Agents also rated their top carrier partners on the technology support they provide. You have have taken the survey yourself, but even if you didn't, you can still access the results. 

The report shares findings from the survey and agency tech trends. Here are four key findings that we found interesting: 

• More agencies are using Marketing Automation platforms (with a 15%  increase year-over-year) for email and text marketing, prospecting, client retention, pre-renewal processes, cross-selling and up-selling. 

• Cybersecurity continues to be a weak point for agents and needs to be a priority. 

• Data Analytics tools are underutilized and with more strategic insights, agencies can make more informed business decisions that improve overall efficiency and performance. 

• Development and use of Commercial Lines Quoting/Rating platforms is growing, with 25% of respondents utilizing at least one of these solutions. 

We encourage you to download the full 36-page State of Tech Report to see all the results, explore the latest insights and learn what the data means for independent agents. 

Want to know more? Attend Catalyit's free webinar next Tuesday, 5/2, at 10 a.m. where Steve Anderson will take you through the report's findings and insights and shares how to enhance your agency's performance. Register here at cataylit.com/catalyit-live. 

You will need to log into your Catalyit.com account to access this webinar. Don't have an account? IIAW members receive free access to Catalyit.com. Visit iiaw.com/catalyit to gain full access. (You will need to log into the IIAW website to setup your free Catalyit.com account, if you haven't already.)

Don't forget if you haven't already updated your information to head back to this week's Big I Buzz email so you can receive our monthly email curated for you and your role. 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.

One of the more challenging aspects of starting an independent agency is securing direct appointments. While it is possible to build carrier relationships on your own, especially if you have prior agency experience, Independent Insurance Agents of Wisconsin's investment in Independent Market Solutions (IMS) makes accessing markets much more straightforward. 

With approximately 3,000 sub-producers, IMS is an agency network that provides access to various insurance markets, including state-specific standard and niche markets that can help you place a policy designed to fit your customers' needs. Rather than consolidate, IMS works to perpetuate independent agencies by providing competitive terms and a pathway to direct appointments with select insurance carriers. 

Agents who gain appointments through IMS can quickly begin writing policies with our roster of carriers and earn competitive commissions. They also retain 100 percent of ownership of policy expirations and can participate in any earned program contingencies. 

IMS opens the door for agents to more easily qualify for appointments that can often lead to "graduation" - a direct appointment when minimum premium thresholds and performance standards are met. The beauty of IMS is that IIAW members can take advantage of this market access program through their membership with no additional cost or hidden fees. IMS continues to add markets to its ever-growing menu and you can see what markets are available in Wisconsin here. 

Happy April! In this week's Big I Buzz, we are sharing the top cities with the highest home fire risk, how insurance agencies can leverage ChatGPT for clients and three flight paths (breakout sessions) you can choose from for InsurCon2023!

10 U.S. Cities With the Highest Home Fire Risk

The Hartford has compiled a list of the top 10 cities in the country that have the highest home fire risk.

10. Murfreesboro, Tennessee 

9. Augusta, Georgia

8. Cincinnati, Ohio

7. Nashville, Tennessee

6. Stockton, California

5. Memphis, Tennessee

4. Montgomery, Alabama

3. Fresno, California

2. Shreveport, Louisiana

1. Modesto, California

Read the entire article here. 

Does ChatGPT Dream of Digital Marketing Plans? 

Chris Cline, Big I's Agents Council for Technology Executive Director, says that spending a short time putting together a decent prompt into ChatGPT can output several paragraphs of content that is "reasonably well constructed and articulate," and can serve as great jumping-off point for agencies looking to up their content game. 

According to Property Casualty 360, "Although ChatGPT and similar Ai technologies are still developing, and their full potential has yet to be unlocked, there are practical applications that insurance agents can deploy today. " You can use ChatGPT to create a first draft of a LinkedIn post and tweak it to align with your agency's branding or personal voice. Then, sync up the app up with LinkedIn and Facebook to push out the posts to the public.  If you'd like a more in-depth look at what AI can do, this article includes a !&A which were written by the public version of ChatGPT. There are many cool things you can do with this technology, as long as you keep the risks in mind. The most important thing to do when using ChatGPT is to confirm the content you are sharing from the platform is accurate! Read more about ChatGPT and the way you can use it for your digital marketing here. 

Last but certainly not least this week is focused on InsurCon2023. InsurCon is right around the corner, so if you haven't, now is the time to register! This year, we have changed things up a bit as we are offering breakout sessions (Flight Paths) crafted to fit every employee of your agency. 

First, on Tuesday, May 16th if you are an agency owner, manager or leader, you will not want to miss Brent Kelly, Sitkins Group's presentation.

Brent Kelly is the President of Sitkins Group, the leading firm for empowering independent insurance agencies to become their best version possible. As a sought-after expert in the industry, he has worked with several of the top 100 agencies in the country to help them gain clarity build consistency and maximize their performance. Brent's deep expertise has led him to partner with Cincinnati Insurance Company and Reagan Consulting as an integral part of the Agency Leadership Institute. 

Brent will bring his extensive hands-on insurance industry experience to InsurCon2023. Our kickoff presentation for this year will show you how to gain influence, maximize your potential and grow your book of business. 

Then, on Wednesday, May 17th, you'll have the option between three flight paths to choose from! 

First, the Agency Planning: Mapping Future Flight Paths breakout session is targeted towards agency owners, leaders and managers. We encourage current and future leaders within the agency and industry to come learn more about the future of the independent agency. Whether you are looking to grow by acquisition or to transition your agency's ownership, planning ahead will position you to have the most opportunties. This path will walk you through: 

• understanding and calculating your proforma EBITDA
• industry benchmarks that you should know
• common risks inside your agency and strategies to minimize those risks. 

Our highly respected industry experts will help you take your agency to new heights. 

The next flight path option is geared towards producers, CSRs and anyone who would like to improve their influence or negotiation skills.

Led by New Level Partners, the Top Gun Communication & Negotiation Skills flight path will help you become skilled to influence or negotiate on a regular basis, so this flight path is open to anyone looking to improve in these areas. This interactive workshop will: 

• help attendees plan and communicate for maximum impact and influence
• represent their best self
• negotiate to gain positive outcomes
• understand and respond to 'no'
• adapt to changes in the negotiation process

The content in this workshop draws from New Level's direct experience in the insurance industry and is reinforced by expert research. 

Last but certainly not least, another flight path option is our Flight Path to Digital Marketing, guided by the superstar pilots at Viral Solutions. They will guide attendees to:

• enhance your digital presence, personally and as a brand
• develop a balanced and effective marketing strategy
• create compelling content for your website
• generate your interal and external communication for clear and simple messaging. 

This flight path is perfect for marketing & communications personnel, producers and anyone else looking to improve their personal and professional digital presence. 

Make sure you register now for InsurCon2023 here: iiaw.com/insurcon

Don't forget if you haven't already updated your information to head back to this week's Big I Buzz email so you can receive our monthly email curated for you and your role. 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.

Happy Spring! While it's just starting to warm up (at least in Madison), we're looking forward to warmer days and our annual convention in May! Hopefully, Mother Nature will hear our calls and we'll have sunshine, warmth and flowers soon. In the meantime, we're back with another Big I Buzz. Today, we're sharing details about our InsurCon2023 kickoff presentation, a Big 'I' member benefit you might not know about and states with the highest annual home insurance premiums. 

InsurCon2023 Kickoff Presentation: Brent Kelly,  President of Sitkins Group

Join us at InsurCon2023 and gain valuable insights from Brent Kelly, President of Sitkins Group, the leading firm for empowering independent insurance agencies. With his deep expertise and extensive hands-on experience in the insurance industry, Brent has worked with several of the top 100 agencies in the country to help them gain clarity, build consistency and maximize their performance. As a sought-after expert in the industry, Brent has partnered with the Cincinnati Insurance Company and Reagan Consulting as an integral part of the Agency Leadership Institute. 

In our kickoff presentation for this year's event, Brent will share his knowledge and expertise to help you gain influence, maximize your potential and grow your book of business. Don't miss out on this opportunity to learn from one of the best in the business. Register now for InsurCon2023 and get ready to take your agency to new heights! 

Big 'I' Members receive UPS discounts: 

Big 'I' members enjoy the following savings from UPS every time they ship: 

• 50% off Domestic Next Day/Deferred
• 30% off Ground Commercial/Residential
• 50%off International Exports & 40% off Imports
• Up to 50% off on additional services
• Plus, UPS Smart Pickup service is free

Learn more here. 

States with the Highest Average Annual Home Insurance Premiums

Bankrate.com recently surveyed the top risks in each state to understand how home insurance premiums vary from one place to the next. Here's seven states that bankrate.com says the average home insurance premiums on a $250,000 dwelling surpass $2,000 per year. 

7. Kentucky - Average annual premium on a $250,000 dwelling: $2,009. 

6. South Dakota - Average annual premium on a $250,000 dwelling: $2,105.

5. Arkansas - Average annual premium on a $250,000 dwelling: $2,123

4. Colorado - Average annual premium on a $250,000 dwelling: $2,152

3. Nebraska - Average annual premium on a $250,000 dwelling: $2,951

2. Kansas - Average annual premium on a $250,000 dwelling: $3,089

1. Oklahoma - Average annual premium on a $250,000 dwelling: $3,659. 

Read more about Bankrate.com's findings here. 

Don't forget if you haven't already updated your information to head back to this week's Big I Buzz email so you can receive our monthly email curated for you and your role. 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.