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InsurBanc's Robert Pettinicchi Discusses the Best Practices When Planning for Succession
Robert Pettinicchi was recently interviewed in an article for Property Casualty 360. The article discusses how to get prepared for the future and start formulating a plan for succession. Whether you are moving on from your insurance agency, going into retirement, or going into another business, a strong succession plan is key to setting up your agency for success after you have left or getting a fair price if you choose to sell.
Click here to read the full article
InsurBanc's David Tralka Discusses How to Manage Your Liquidity
In David Tralka’s article in Rough Notes, he discusses the best way to use your liquidity to benefit your agency. Extra cash can be put to good use by investing in your agency, creating even more value and generating future returns when you decide to sell. He also looks at when it’s best to use the funds you have on hand versus seeking financing. Agency perpetuation and mergers and acquisitions are perhaps the greatest reasons why an agency might decide to borrow.
How should you manage your agency’s liquidity? Click here to read the full article.
InsurBanc's Robert Pettinicchi Discusses the Benefits of Creating Internal Revenue for Your Agency
Robert Pettinicchi recently wrote an article for Independent Agent. In the article, he discusses misconceptions about perpetuation and the benefits of investing in your own agency. Owners can realize greater value over time by retaining and investing in their own firm. What does it take to create internal revenue?
Click here to read the full article.
InsurBanc's David Tralka Discusses Whether it is Better to Build or Buy
In David Tralka’s article for Insurance Journal, he discusses organic vs. inorganic growth and which option is better for growing your agency. With interest rates rising again, agency owners need to take a look at all of their options, whether that is investing in producers and technology or acquiring a new book of business or agency. Both investing in your agency, and building your agency organically offer many rewards, but what plan makes sense for your agency in this rising interest rate environment? Click here to read the full article.
InsurBanc's David Tralka Shares What Agency Owners Would Say to Their Younger Selves
In David Tralka's podcast for On Point with Peter van Aartrijk, he speaks about the agency owners he has met with, who are close to retirement, and what they would say to their younger selves if they could go back in time. Owners often look back with ideas of how they could have run their agency differently or what improvements they could have made. Some owners wished they had brought in more new talent or had prepared their perpetuation sooner. Hear what David has learned from these agency owners. Click here to listen to the full podcast.
InsurBanc's David Tralka Shares Wisdom from Agency Owners
In David Tralka’s latest article for National Underwriter/Property-Casualty Magazine, he discusses five key lessons on agency ownership and perpetuation. He shares the wisdom he’s heard from agency owners over the course of his career. These lessons can help current and prospective agency owners plan for the future of their agency. Click here to read the full article.
InsurBanc's Robert Pettinicchi Discusses Whether or Not Selling is the Right Path for Your Agency
Robert Pettinicchi was recently interviewed for an article in Insurance Business America. In the article, he discusses what happens when agency owners come to a crossroads in their career. Should they sell their agency? He discusses the many options available to agency owners and why it might be beneficial to not sell right away. Click here to read the full article.
InsurBanc's Robert Pettinicchi Discusses Attracting Millennials to the Insurance Industry
Robert Pettinicchi was recently interviewed for an article in Insurance Business America. In the article, he discusses the lack of Millennials in the insurance industry, the benefits that a career in insurance has, and the need for the industry to promote just how good a field it is. For young people with an entrepreneurial drive, working at an agency can open doors for business ownership later on. Click here to read the full article.
InsurBanc's Robert Pettinicchi Discusses The Best Places to Seek Agency Financing
In Robert Pettinicchi’s article for Insurance Journal, he discusses where to seek financing for loans to facilitate an agency acquisition or perpetuation. Lenders that specialize in agency financing understand the value you have created in your book of business and can be flexible, making a loan to your agency with your book of business as acceptable security. These lenders will help you compete with bigger players by providing capital for acquisitions and assisting you by keeping your options for growth and value building wide open. Click here to read the full article.
InsurBanc's Bob Pettinicchi Discusses How to Obtain Financing to Expand Your Agency
In Bob Pettinicchi’s article for Insurance Business America magazine, he discusses how important it is for agency owners to invest in the future in order to be successful in today’s market. Agency owners should be considering acquisitions and investing in technology or people if they truly want to expand. Technology can help agencies streamline their internal process, increasing efficiency, and cutting expenditures. In order to do this, agencies must find a bank to finance these projects. The best way to secure financing is to look for a bank that understands agencies finances and needs. Click here to read the full article.
InsurBanc's David Tralka Discusses Rising Interest Rates in IA Magazine
In David Tralka’s latest article for IA magazine, he discusses the reality of the rising interest rates and how agencies can best handle this new environment. As rates rise, the cost of capital increases. So, if your agency can lock in a fixed rate loan soon it could save you a lot of money in the future. In the end, planning is everything and while you may not be able to time things perfectly, now is the time to start moving forward with any ventures you may have coming up. Click here to learn more.
InsurBanc Attends 2017 Big Event
InsurBanc will be attending the 2017 Big Event from October 27th-28th in Boston, Massachussetts. Come check out our booth #111 and hear Robert Pettinicchi, our Chief Lending Officer, speak at 2:30pm on Friday, October 27th. Make sure you register to attend his session on Agency Perpetuation. This session will help agency owners and principals with the key components of financial planning and preparing for perpetuation or acquisition. Our goal is to give agency owners a better understanding of the value of their agency and will learn of options to enhance the value of their business. Click here to learn more.
InsurBanc's Scott Freiday Speaks at Leadership & Development Conference in Manhattan, KS
The leadership and development conference is the top networking event for leaders in the Kansas insurance industry. Scott Freiday's session will be on Thursday, October 5th at 12pm. In this session he will discuss the key considerations in agency acquisition and perpetuation. He will also discuss the financial aspects and economic case for perpetuation. Agency owners will be demystified of accessing capital for growth. Owners will leave with a better understanding of the value of their agency. Click Here to learn more.
InsurBanc Shares 3 Keys To Effective Cash Management For Your Insurance Agency
InsurBanc’s Vice President and Business Development Officer, Patricia Smith recently contributed an article to Property Casualty 360. In this article, “3 Keys to Effective Cash Management for Your Insurance Agency,” Pattie discusses the life cycles a successful agency experiences over time and how effectively managing cash flow impacts those cycles. For independent insurance agencies and brokerage firms, cash management is unique — calling for a focused, strong cash management system provided by the agency’s banking institution. Click here to read the full article.
InsurBanc Shares Insight on Growing your Agency through Banking Technology
InsurBanc’s Vice President and Business Development Officer, Patricia Smith recently contributed an article to Property Casualty 360. In this article, “Using Banking Technology to Manage the Insurance Agency Journey,” Pattie explores the life cycles a successful agency experiences over time and how effectively managing cash flow impacts those cycles. It is essential that agency owners understand that good cash management solutions will increase an agency’s value and allow for growth to the next stage. Which stage is your agency in? Click here to read the full article.
InsurBanc Discusses the Current State of the Industry
InsurBanc’s Chief Lending Officer, Robert Pettinicchi recently contributed an article to Insurance Journal where he shared four industry observations and four action items every insurance agency principal should take. How has the merger and acquisition environment changed and what impact will rising interest rates have on valuations? Read the article as Bob describes his insight on the industry and the best steps agency owners should take today. Click here to read more.
InsurBanc Partners With IIABA's Best Practices
As a Best Practices research sponsor, InsurBanc is excited to share the Best Practices for Agency Operations 2017 webinar series hosted by IIABA and Regan Consulting. In this 7-part series of 15 minute webinars, Best Practices research will give agencies and the industry key benchmarks and operational information for growth, profitability, productivity and financial stability. Registration and session descriptions are available for this free webinar series by clicking here.
What's Ahead for Agency M&A Activity?
InsurBanc’s President and CEO, David Tralka recently sat down with Insurance Journal to discuss the future of the M&A market. In recent years, the number of announced transactions has been record setting. What does this mean for 2017? Listen to this podcast as Dave shares his insight on future trends for M&A activity in 2017 and the factors that will impact the market. For those agency owners looking to sell, Dave offers advice on ways to leverage your agency and positively impact your agency’s value. Click here to listen to the full interview.
Buyer Beware: Agencies Warned About Growing Too Fast
InsurBanc's Executive Vice President and Chief Lending Officer, Robert Pettinicchi was recently interviewed by Insurance Business America where he shared his thoughts on agency growth. The goal of any agency owner is to build a successful agency. But are you growing effectively? In this interview, Robert shares how agency principals should think when growing a successful agency verses the mistakes often made. If you are interested in reading more, click here.
InsurBanc Shares Insight on Cash Management
InsurBanc has recently published another article with Property Casualty 360. The article, 3 Keys to Effective Cash Management for your Insurance Agency, authored by InsurBanc’s Vice President and Business Development Officer, Patricia Smith, provides insight into the importance of a comprehensive and unique cash management plan for independent insurance agencies. Patricia expands on some of the essential tools needed for an effective cash management plan. Interested in learning more? Click here to read the full article.
What’s Next for Your Agency Perpetuation Plan
With every day that passes, you are getting closer to retirement. Have you given thought to what will happen to your agency? InsurBanc’s Vice President and Commercial Loan Officer, Keith Mangini recently shared some insight in Insurance Journal’s article, What’s Next for Your Agency Perpetuation Plan. It’s essential to realize that a well-crafted perpetuation plan can not only impact your retirement, but also your agency’s value. In this article, Keith explains the necessary steps agency principals should take now in order to maximize the agency’s value for the future. Read the full article by clicking here.
InsurBanc Discusses the Impact of Technology
In a recent article published by Rough Notes magazine, InsurBanc’s Chief Lending Officer, Robert Pettinicchi discusses the impact technology has on the value of an independent agency. Bob explains how agencies that utilize technology and train those to use that technology effectively will create a more valuable agency. When agencies invest in technology they become more profitable, which consequently increases their value. Click here to learn more about the effects of technology investment.
InsurBanc Discusses Key Components of Agency Acquisitions and Perpetuations
David Tralka was recently interviewed by Agencies Online discussing agency acquisitions and perpetuations. In case you missed it, you still have the opportunity to learn valuable information. In this webinar, InsurBanc’s President and CEO, David Tralka, shares insight into the current M&A market. Dave discusses the key considerations of financially planning and preparing for succession, tools to maximize agency value and ways to access capital for growth. Check out the webinar here. If you are interested in learning more, contact InsurBanc at 1-866-467-2262.
3 Questions Agents Ask Their Lenders
InsurBanc’s Chief Lending Officer, Robert Pettinicchi recently discussed his opinions on interest rates and agency valuations in Property Casualty 360’s article, “3 Questions Agents Ask Their Lenders.” In this article, Robert shares what he expects of interest rates in 2016, the current state of agency valuations, and the factors to consider when valuing your agency. To read more, Click here.
Strategies for Growing Your Agency
InsurBanc’s President and CEO, David Tralka was recently interviewed for Property Casualty 360’s article, “5 Key Strategies for Growing Your Agency.” In this article, Dave discusses how planning for perpetuation can be thought of as a growth strategy. An internal perpetuation plan can engage key employees to start thinking like owners and think about the future of the agency. Click here to read the article and learn how your agency can stand out from the competition through perpetuation.
Moving on Up: Perpetuation for Young Agents
Recently, the Independent Insurance Agents & Brokers of America released a webinar, “Moving on Up: Perpetuation for Young Agents,” hosted by InsurBanc’s President & CEO, David Tralka. In this webinar, Dave discusses the process of perpetuation from a young agent’s perspective. He describes how to start thinking like a buyer by learning how to access capital and understanding agency valuation. As a young agent, this webinar will teach you how to become part of the succession plan. Click here to listen.
Perpetuating vs. Selling
Farmington, CT (May, 2015) In Insurance Journal’s recent article, InsurBanc’s Chief Lending Officer Robert Pettinicchi discusses why agency owners should consider perpetuating their agency instead of selling as they move towards retirement. With valuations increasing, you may be considering selling your agency. However, with selling you no longer can benefit from any future cash flows from your agency. Economically, perpetuation can often make more sense. Click here to learn more.
ProgramBusiness.com’s newest article
Farmington, CT (October, 2014) ProgramBusiness.com’s newest article discusses the spike of agency acquisitions in 2014 and the important components of an internal perpetuation with industry experts from InsurBanc and Reagan Consulting. Click here to read.
InsurBanc Helps Fast-Track Agency’s Perpetuation Plan After Principal’s Passing
Farmington, CT (February, 2013) For an insurance agency, executing an internal perpetuation plan can be tricky enough. But when unfortunate circumstances force the plan to be completed on an accelerated timeline, the challenges mount. Find out how one agency was well prepared with a perpetuation plan and the right financing partner.
Extreme Makeover: What Makes an Agency Attractive to Buyers?
Farmington, CT (October, 2011) Some agency and brokerage owners who would like to be courted have not made their operations particularly attractive to buyers – What’s lost on a lot of agencies is that every business decision you make, it has to be made with the idea: Does this build value or destroy value?
Agency Perpetuation from the Lender’s Perspective
Farmington, CT (September, 2011) For insurance agency owners, a well-conceived and properly executed perpetuation plan is a great mechanism for harvesting the value generated through their dedication and commitment to building their business.
Value Building Key in Agency Financing, Perpetuation, M&As
Farmington, CT (September 2010) An insurance agency must build value over time and if at some point the owner is going to look to harvest that value, he needs to nurture the business and run the operation in a manner that creates value. This value-building philosophy is the glue that holds the entire perpetuation plan or M&A together.