By: Matt Banaszynski | CEO of IIAW

 

Congratulations! You made it to 2021. 2020 will almost surely be defined by the COVID-19 pandemic. Despite the challenges presented by the pandemic, I see 2020 as the year I gained new perspectives, discovered five years’ worth of innovation in one year, and came to appreciate the little things in life that in a normal year often get overlooked. Recently, I was sitting in my office and was reminded of an article I read back in April titled, “What Hard Times Teach Us: 5 Pandemic-Inspired Lessons That Will Make You Better For The Long Term” by Tracy Brower. I thought I would combine some of her advice with my own words of wisdom that came to mind when I introspectively examined what I learned from this past year. I thought I would share them with you before I file away 2020 in hopes of making 2021 the best year yet!

 

 

Patience: If you have children, you may have an abundance of patience or lack it entirely, but one thing is for sure, this pandemic pushed it to its limit. Whether it was/is navigating and balancing the complexities of virtual learning with working remotely, waiting for the quarantine to lift, or anticipating your favorite restaurants to reopen and spring back to life. One thing was for sure, we are never going back to “normal”.

 

Finding patience can yield a different perspective and even at times, new appreciations in life. As importance as patience is to your well-being, it is also important to understand and recognize the sign of impatience.

 

According to Mindtools.com, “Patience is a vital quality in the workplace. It can reduce stress and conflict, lead to better working relationships, and help you to achieve your long-term life and career goals. Many of us struggle with impatience. Learn to recognize the physical and emotional symptoms associated with it, and to identify the situations that trigger it. When you understand the causes of your impatience, you can develop strategies to prevent or overcome it. These could include attending to your physical well-being by using deep breathing and relaxation techniques and developing your empathy and emotional intelligence skills”.

 

Playing the long game: A term often used to describe how taking the necessary steps now will to set yourself up to long-term success. It means not sacrificing long-term gains for short-term wins. Tracy Bowers says, “With a narrow perspective, current reality can be even more challenging, but by taking a longer-term view, you can reassure yourself that current realities will shift, and good things will come—ultimately—from today’s experiences and lessons”. Warren Buffet once said, “Someone is sitting in the shade today because someone else planted a tree a long time ago.” Do not focus on the here and now, especially when the here and now are so tumultuous. Take solace in the fact that this too shall pass, you will get through it and you will be better because of it. The race is long, and in the end, it’s only with yourself!

 

 

Adaptability: A term that most certainly comes to mind when you look to define 2020. You cannot always control what happens, but you can control how you respond. Benjamin Franklin famously proclaimed, “Change is the only constant in life. One’s ability to adapt to those changes will determine your success in life”. This guiding principle is one that has propelled the American spirit forward for generations and will continue to do so. Some consider this soft skill the most important. As Bob Dylan famously sang, “The times, they are a changin’.” Being adaptable allows you to take control and chart your own course, instead of just letting things happen around you. Remember, change is constant, even without global pandemics, our industry is undergoing a significant amount of change. Be empowered in the face of change.

 

In his article in Forbes entitled, “14 Signs of an Adaptable Person,” Jeff Boss identifies the following traits of adaptable people: they experiment, they see opportunity where others see failures, they are resourceful, they think ahead, they don’t whine, they talk to themselves, and they don’t blame others. They also don’t claim fame, they are curious, they open their minds, they see systems, and they stay current.

 

If you do not possess these traits or would like to refine them, there are ways you can train yourself to be more adaptable. Consider reading, “How to Survive Change . . . You Didn’t Ask for: Bounce Back, Find Calm in Chaos, and Reinvent Yourself” by M.J. Ryan.

 

Resilience: Research shows that resilience is enhanced by having a clear view of reality, a sense of meaning and an ability to improvise. In addition, according to Professor de Weerd-Nederhof of the University of Twente, resilience is both a personality trait and a skill. Hard times may be easier if it is part of your character, but it’s also a competence you can develop through today’s challenging times. The American Psychological Association has a great short read on “Building your Resilience” that is worth checking out.

 

If you would like to become more resilient, consider these tips:

 

• Get connected. 

• Make every day meaningful. 

• Learn from experience. 

• Remain hopeful. 

• Take care of yourself. 

• Be proactive. 

 

Responsiveness: Reacting quickly and positively is an art and an interquel part of good customer service. Responsiveness is a must-have in your communication and customer service toolbox. You show responsiveness through prompt attentiveness when asked for something. This term likely took on new meaning during 2020. Perhaps you found it more important than ever to be responsive to the needs of your loved ones, co-workers, customers, and other business partners. Being responsive creates an opportunity to build trust and respect by acting quickly and proactively, thus eliminating concerns and anxiety during a time of uncertainty. Being responsive during these turbulent times meant the opportunity to create a deeper, more meaningful connection. Consider these 7 ways to be more responsive to your customers according to SmallBizDaily:

 

1. Ask your customers what they want.

2. Manage customer expectations.

3. Develop procedures.

4. Educate your employees.

5. Provide self-service options.

6. Use technology.

7. Stay human.

 

Gratitude: Being grateful for the people and things in your life that have a positive impact is critical to happiness. Whether you’re appreciating the companionship of friends, extended time with family, or the bond you’re building with coworkers through shared struggles, there is a lot to be thankful for. Be sure to share your gratitude to those that have contributed towards it and do not be afraid to

“pay it forward”.

 

Happiness: Happiness is a mindset that can be difficult to explain or define. Much like beauty is in the eye of the beholder, it’s different for everyone. Happiness is an important component to a meaningful life - it can provide a sense of purpose. It’s also something that doesn’t come easy and needs to be earned.   Regularly indulging in small pleasures, getting absorbed in challenging activities, setting and meeting goals, maintaining close social ties and finding purpose beyond oneself all increase life satisfaction. It isn’t happiness that promotes well-being, it’s the actual pursuit that’s crucial.

 

 If you want to learn how to boost your wellbeing with strategies from groundbreaking research, visit happify and read through the resources on The Science of Happiness and How to be Happy.

 

Self-discipline: Self-discipline is about controlling your feelings to overcome your weaknesses - something many of us may have found challenging in 2020. Sure, you can binge-watch your favorite tv show instead of working remotely from home, but as Tracy Bower puts it, “This is a great time to learn new approaches to managing your behavior and building new habits”.  Self-discipline is an essential quality, and it’s a key differentiator between people who are successful in life and those who struggle to be. Make sure that you take time to continually develop it!

According to MindTools.com: To develop self-discipline, follow these steps:

 

1. Choose a goal.

2. Find your motivation.

3. Identify obstacles.

4. Replace old habits.

5. Monitor your progress.

 

Instituting and refining self-discipline won’t always go according to plan. You will have ups and downs, successes and failures. The key is to keep moving forward. When you have a setback, acknowledge what caused it and move on. It is easy to get wrapped up in guilt, anger, or frustration, but these emotions will not help build or improve self-discipline. Instead, use the setbacks in your plan as learning experiences for the future. 

 

Self-care: Taking care of your physical, mental, and emotional health is more important than ever during these stressful times. Develop a process of purposeful engagement in strategies that promote healthy functioning and enhance your well-being. Physically speaking, be sure to get enough sleep, eat healthy and exercise. Social and mental self-care can be difficult in times of isolation. Find ways to get face-to-face (virtually and physically), nurture your relationships with friends and family, make time for activities that mentally stimulate you and find ways to proactively invigorate your life. Set goals to realize your ambitions or aspirations.  Develop methods and outlets to allow you to process and recognize your emotions. Incorporate activities that help you recharge. Assess which areas of your life need attention and as your situation changes your self-care should as well. Self-care is vital for building a resilience toward those stressors in life that you can’t eliminate or predict.

 

Enhancing Your Community: You have probably heard the phrase, “It takes a village…” The truth is that it takes a village to achieve just about any meaningful change in your life. This term took on much more meaning in 2020. You leaned on your various communities, tribes, networks, cliques, associations or whatever you want to call it for support, and you worked harder to provide help and assistance to those that need it in your community. Your community may have evolved to include more people or it may have shrunk to focus more of your efforts on those who needed it most. Building, supporting, and connecting with your community is as important as it has ever been.

 

Tracy Bowers perfectly concluded her article (far better than I can for this one) by saying, “You’ve pushed yourself beyond your limits—not by choice—but by necessity. The good news is these hard times can be the catalyst for new habits, behaviors and lessons. You’re finding perspective by learning to operate your patience button (or just find it) and taking the long view. You’re learning more about resilience and your response by expanding your adaptability and coming up with creative hacks. You’re reinforcing your appreciation for community by connecting with others and embracing gratitude. And you’re managing yourself in new ways with self-discipline and self-care. Perhaps best of all, you’re finding new paths toward happiness. All of these will pay off for you today, but also in the new normal of tomorrow.”

 

My concluding opinion: advice is a form of nostalgia, and dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it’s worth!  If I can offer you one tip for the future, it is this… Whatever you do, don’t congratulate yourself too much or berate yourself either. Your choices are half chance, so are everybody else’s!

Happy Wednesday! We are closing in on the holidays and that means it's time to finish up that last-minute shopping. In this week's Big I Buzz, we are covering a great platform to help you shop local Wisconsin businesses. In industry news, we are discussing the IoT Cybersecurity Improvement Act that President Trump signed into law this month and a new NAIC rule that would allow rebating. 

The 'Amazon' of Wisconsin mom & pop shops: Website allows users to search for, shop at 400+ small businesses

We are 9 days away from Christmas and what better way to finish off your shopping than by shopping small and local. MainStreetWi.com is a hub for more than 400 Wisconsin-based, independent businesses: selling everything from fine art and furniture to clothes, books and games. Shoppers using the site can narrow their searches using the toolbar on the side, and even allowing you search for stores geographically using the drop-down bar on the left side of the screen. Most business are offering both delivery and curbside pickup options, helping you to get your gifts on time. Learn more here. 

Trump Signs IoT Cybersecurity Improvement Act into Law

On December 4 2020, President Trump signed into law the bipartisan-backed Internet of Things Cybersecurity Improvement Act of 2020. This law applies solely to federal government agencies, but its downstream consequences are likely to recah further, impacting devices procured by the federal government and - likely, eventually - consumer devices. 

Internet of Things (IoT) devices are in widespread use, most visibly by consumers of new smart home devices. According to the new law, these devices: 1.) interact with the physical world. 2.) Have a network interface for transmitting or receiving information via the internet and 3.) Are not conventional information technology devices such as smartphones or laptops and cannot function as a component of another device such as a processor. Because these devices are generally viewed as being more vunerable to cyberattacks, the IoT Cybersecurity Act seeks to reduce those risks. To do so, the new law: 

1. Tasks the National Institute of Standards and Technology (NIST) with developing, publishing and updating security standards for IoT devices.

2. Requires the Office of Management and Budget (OMB) to review each federal agency's information security policies to ensure they comply with the standards NIST promulgates for IoT devices and; 

3. Prohibits federal agencies from procuring any devices that fail to comply with NIST's standards. 

Learn more about the new act here. 

New NAIC Rule Would Allow Rebating

According to Insurance News Net, "The Executive Committee of National Association of Insurance Commissioners adopted language today designed to allow for 'rebates' to be offered to consumers. The committee unanimously adopted an amendment to the NAIC Unfair Trade Practices Act. Adopted language will permit insurers or producers to "offer or give non-cash gifts, items or services, including meals to or charitable donations on behalf of a customer in connection with marketing, sale, purchase or retention of contracts of insurance." Each state commissioner will decide the possibility of a cap on gift amounts. Learn more about the new NAIC rule here. 

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. We hope that everyone has a great rest of their week! 

By: Kaylyn Zielinski | IIAW Marketing & Communications Coordinator

 

As we enter the 2020 holiday season, it’s not a surprise that the holidays are feeling very different this year. Holiday parties are being put on hold and end-of-year networking events are being postponed. However, we are gifting you with a solution to allow for much-needed networking in the time of social distancing! You no longer need to sift through the posts on LinkedIn to find content and connections that matter to you - that’s what our Online Community is for: a curated platform for insurance professionals. This holiday season, we’re gifting you with a place for connection, in a time when in-person gatherings are non-existent. 

 

At the time of writing this article, we have already amassed over 120 members (and growing every day) who are engaged in our Online Community! That’s over 120 people who are ready to connect, collaborate and engage with you!

 

"

I really like the concept of the Online Community. One of the benefits of being involved in the Big I in general is the opportunity to interact and get to know other agents from across the state. The Online Community is a great new part of that, especially in light of the fact that we can’t get together in-person like we normally would. It gives us the chance to ask questions of our fellow agents and share experiences or advice, all in the interest of making us better as agents and as an industry. And it’s 

so easy to use, even I can do it."

- Steve Leitch, Leitch Insurance Agency, Inc.

Our Online Community is for every single one of our members, whether that be independent agents, carriers, vendors, companies, etc. 

 

As we’ve mentioned in previous publications, our Online Community is two-fold. Not only are we offering a free and fun platform to exclusively network, but we’re also supporting our local communities through this outlet as well. 

 

We just celebrated Small Business Saturday on November 28th, 2020, and we can proudly say that the IIAW and our Online Community participants truly played a part in supporting local Wisconsin businesses!

 

The IIAW awarded Thought Leaders (previously known as committee members) who signed up for our Online Community. Each Thought Leader received a $25 gift card to a local business of their choice. 

 

 

Amy Brice, AMERISAFE, used her gift card at Cottage Cafe in Madison

 

 

Ryan Waite used his gift card at Forage Kitchen in Madison

 

 

Jeff Thiel, R&R Insurance Services, used his gift card at Weissgerber Golden Mast Inn in Okauchee

 

Steve Leitch, Leitch Insurance Services, Inc., used his gift card at DeVine Liquor in River Falls

 

We’ve awarded our Thought Leaders (members registered to be a verified resource for questions and content within each of the Online Community Groups) a gift card for a local Wisconsin business of their choice. 

 

Every person who participates in our Online Community can earn rewards. Each time you engage within the Community, you earn points. Then, at the end of each quarter, if you’ve reached certain point thresholds, you’ll receive some awesome rewards.  

 

These rewards are: a $25 gift card to a local Wisconsin business of your choice, a $100 donation to a Wisconsin non-profit of your choice and an IIAW swag bag which contains items like Yetis, desktop whiteboards, smart plugs and more!

 

To join the IIAW’s Online Community, go to iiaw.com/joincommunity. Be sure to check your spam/junk folders for the invite email after filling out the survey on our website. We are looking forward to connecting with all of you in our Online Community! Happy Holidays!

Happy Wednesday! On this week's Big I Buzz, we are discussing what Black Friday 2020 will look like, what employers should know about Gov. Evers' Executive Order #94 and a few steps to help reduce pandemic fatigue. 

What Evers' Executive Order #94 Really Means for Employers

Executive Order #94 calls for unity and working together in an advisory capacity. As an employer, this means that there will be no mandates. Instead, it encourages employers to follow a list of suggestion to help stop the spread of COVID-19 to their employees, customers and communities. 

Second, there will be no government penalties or enforcement provision. Instead, employers should be prepared to address concerns from employees, clients and customers. 

Finally, some health departments are making statements based on the new order to address county- or city-wide requirements issued by authorities. 

Employers should be ready to answer questions regarding the suggestions outlined in Order #94. Great steps to take would be to consult local health departments to determine if there are any updates in response to the order, review and update business COVID-19 response plan and protocols to incorporate updated guidance and prepare talking points to explain the employer's response to Order #94, accordingt o Godfrey & Kahn.

What will Black Friday Look Like in 2020? 

2020 has brought many changes with the COVID-19 pandemic, and the holidays are no different. According to Property Casualty 360, shoppers are shying away from Black Friday. A recent Accenture Holiday Shopping Survey shows that shoppers are minimizing in-store shopping and choosing home delivery. According to the survey, 76% of consumers want retailers to remain closed on Thanksgiving Day, and have of those respondents said retail workers deserved a day off. In addition to offering in-home delivery (free and fast) and curbside pickup, Accenture recommends retailers consider appointment-based shopping. Read more about the Accenture survey and how Black Friday may be different in 2020 here. 

7 Steps to Reduce Pandemic Fatigue

The stresses of COVID-19 can cause pandemic fatigue with fears of infection, actual infection, isolation in quarantine and social distance, job losses and more sit at the front of your mind. A clear sign of pandemic fatigue is a sense of inner weariness. You could also feel fear, anxiety, loneliness and hopelessness.  

UCLA Health recommends seven steps to take to reduce pandemic fatigue: 

1. Create new traditions - While many activities you may normally enjoy may not be a possibility any more, instead find a new hobby to bring you joy. Some stay-at-home options: pick up a new craft or new book series to focus on. 

2. Try positive self-talk - ignore the "what-if" thoughts regarding the pandemic, and instead, think about the positives of what you're doing to stay safe. 

3. Accept your feelings - Allow yourself to acknowledge and name your feelings instead of pushing them away. Then, refocus your mind and energy on things you can do to feel better. 

4. Connect with others - Being alone and feeling isolated can be stressful. It's important to connect with others outside of your household. Great options to do so would be making phone calls, arrange video meetings, take a live class online and join IIAW's Online Community where you can connect with other industry professionals. Join the Online Community here: iiaw.com/joincommunity.

5.  Lower your stress - focus on activities that are calming and bring you joy such as any stress-relieving activity like going for a nature walk, yoga or watching a comedy. 

6. Limit your news intake - while it's important to stay up-to-date on current news and COVID-19 updates, consuming too much news can overload you and zap your energy. Consider taking a break from the news for a day or two. 

7. Take care of your body - Make sure you're getting enough sleep, maintaining a nutritious diet and exercising. Doing these will boost your energy, lift your mood and strengthen your immune system. Learn more here. 

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. We hope that everyone has a great rest of their week! 

Happy Wednesday, we are almost to the halfway point through November which means we are quickly speeding into the holiday season. On this week's Big I Buzz we are discussing the possibility of a new COVID-19 vaccine, where Gov. Evers' capacity limits currently stand and how social movements and COVID-19 have affected the EPLI market.

First, before we dive into the news from the past week, we want to call out a great fundraising effort from our Emerging Leaders. Last year, the IIAW Emerging Leaders Committee collected gifts for children receiving care at the Children's Hospital during the holidays. Unfortunately, due to COVID-19, the hospital cannot accept in-kind gifts so instead our Emerging Leaders Committee is making donations to the Child Life Department Fund to purchase gifts for patients throughout the year. Please join us in contributing to this great cause - every bit helps! You can donate here. 

Pfizer Vaccine Trial Success Signals Breakthrough in Pandemic Battle

According to Reuters, "Pfizer Inc's experimental COVID-19 vaccine is more than 90 percent effective based on initial trial results, the drugmaker said on Monday, a major victory in the war against a virus has killed over a million people and battered the world's economy." On Monday, November 9th, we saw the Dow soar 1,500 points after a weekend full of news about the potential for a vaccine from Pfizer, the election and a potentially split Senate. The vaccine had an immediate impact on the market. Learn more about the vaccine trials here. 

Wisconsin Supreme Court Sends Virus Capacity Limits Case to Lower Court

According to Insurance Journal, on November 4th, the Wisconsin Supreme Court declined to consider reinstating Democratic Gov. Tony Evers' coronavirus restrictions limiting the size of public gatherings deferring to a lower court to decide. Evers' administration issued an order in early October that limited the size of indoor public gatherings to 25% of a building or room's occupancy or 10 people in places without an occupancy limit. The powerful Tavern League of Wisconsin filed a lawsuit challenging the order, arguing it would drive bars and restaurants out of business. A Sawyer County judge blocked it on Oct. 14, only to have a Barron County judge reinstate it five days later. That sparked an appeal from The Mix-Up bar in Amery and Pro-Life Wisconsin, which argues that the capacity restrictions limit its fundraising gatherings. Learn more about Gov. Evers' restrictions here. 

A Changed Landscape: EPLI in the Age of COVID-19 and Social Movements

Headlines regarding social movements and COVID-19 are dominating the headlines in the business environment. According to the Independent Agent Magazine, "As states introduce legislation and rules protecting potential victims, the employment practices liability market is feeling the impact. "We have a lot of states that are enacting separate laws to govern the employee-employer relationship," says Joe Kelly, senior vice president, employment & ERISA liability national practice leader, Sompo International Insurance. "Add to this the ramifications of COVID-19, and we have the perfect storm for the EPLI market."

How will this impact the future? According to the Independent Agent Magazine, "Carries are not looking to take on a lot of extra employer risk right now; some are not even offering terms...For independent agents, making an early start on acquiring the coverage your client is looking for is key." Read more about how COVID-19 and social movements are impacting the EPLI market here. 

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. We hope that everyone has a great rest of their week!