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3 minute read
Insurance Innovation, the e123 podcast, highlights cutting-edge insurance industry innovators who have valuable experiences and insights to share. The Inter-company Marketing Group (ICMG) Annual Conference provides a unique networking opportunity for insurance leaders “to get deals done.” Executive Director, Larry Sigle, shared his thoughts with host Alan Edgin on the importance of in-person networking, innovation, and how to build a successful career in the industry.
Expanding Insurance Distribution
ICMG brings together decision-makers from insurance carriers and marketing organizations in the life and health sectors. C-level executives from IMOs and FMOs flock to ICMG specifically looking for products, while carriers scout insurance distribution opportunities.
Larry explains “these decision-makers are looking for something that can help set them apart.” They come to ICMG because “it's a great place to sit down, talk to people, learn about other products, and find new products. It's like taking a dozen business trips and rolling it into one.”
In-Person Connections Matter
The ICMG Annual Conference started 40 years ago with six individuals from insurance companies who sat down at a table to find ways of cross-selling each other's products. The continued focus on senior-level networking and “getting deals done” has enabled ICMG to grow significantly. This year, they celebrated their 40th anniversary with over 600 attendees at their largest conference yet.
In today’s world of video conference calls, Larry and ICMG still understand the value and impact of face-to-face connections in creating carrier and agency growth. Larry recounts how his own five-minute conversation at ICMG with a fellow attendee in an elevator led to his largest client within a year.
And Larry says, “I hear that same story a lot. An attendee meets somebody at the conference and within a year or two, they put something together that’s a very big boost for both companies.”
ICMG curates the right people for quality conversations and meetings, motivating decision-makers to come to ICMG to make deals. Attendees can accomplish more in a few days together at ICMG than they would in six to nine months traveling across the country to see prospects. Partnerships that create downline optimization and fuel agency growth are easy when the right people are at the table.
Innovation in Every Sector of Insurance
Just as carriers, IMOs, and FMOs need to innovate to meet customer expectations, so does ICMG. Larry prides himself on listening to attendees and continually adding new features that attendees want.
Unlike many conferences, attendees “don't really come to ICMG for a lot of education or sessions. They're coming to meet people and again, find ways of doing business together.” By focusing on how they can facilitate “getting deals done,” ICMG has introduced many innovations over the years, including:
- A 30-second elevator pitch introduction for every attendee about what they offer and what they are looking for
- Speed networking sessions
- Reconfiguring the exhibit hall into a networking hall with tables and chairs that facilitate small group and one-on-one meetings
- A smaller, one-day, mid-year event offering another opportunity to “get deals done”
- A member directory where members can easily search for the types of products and services they want
- A data-driven approach for conference attendee outreach to ensure the meeting has the right mix of carriers, marketing agencies, and other vendors.
Insights for New Agents
ICMG demonstrates the value of collaboration in the insurance industry. And while the meeting is geared towards senior leadership, Larry was happy to share his insights as an industry veteran to new agents.
“Number one, learn as much as you can. Always be honest and ethical. Don't be afraid to say no. Don't be afraid to say, my product doesn't fit what you have. With new agents, they're always looking to make that sale, and so they're tempted to say, oh, yeah, that'll work, but it really doesn't. If you have that ethical background and treat people right today, it will build the solid foundation that you need throughout your career.”
Effective Growth Management
To access the full podcast and learn more about expanding insurance distribution and agency growth,
ICMG can help you develop the relationships you need to grow, but you still need the right systems to manage that growth. If you need a platform to help with downline optimization, commission management, or agent retention, e123 can help. We love solving problems and are happy to chat. Schedule a free consultation here.
