AUSTIN, Texas, January 22, 2020 – ePayPolicy is proud to announce its latest state insurance association endorsement. Independent Insurance Agents of West Virginia (IIAWV) recently named ePayPolicy as the recommended payment processing provider for its member agencies.
IIAWV CEO Traci Nelson explained: “Our mission is to provide members with the tools they need to serve their clients and build their business. Technology is a huge driver of operational success. With ePayPolicy, our members get industry-specific payment technology that serves a dual purpose of increasing agency efficiency and increasing client satisfaction. That’s the kind of win-win we strive to deliver to IAWV members.”
ePayPolicy Co-Founder Todd Sorrel commented: “Digital payment is more than today’s reality, it’s today’s standard. Policyholders are consumers, and they’re used to paying by credit card or ACH. ePayPolicy enables IIAWV members to offer digital payment in lieu of check, thus speeding up policy binding and receivables. The platform also integrates with most agency management systems (AMS) and includes the fiduciary and other accounting and reporting capabilities specific to our industry.”
IIAWV is the 29 state association of independent insurance agents to endorse ePayPolicy.
Concluded Sorrell: “We’re always excited to partner with fellow technology evangelists. IIAWV recognized long ago that technology is the future of our industry. In fact, in 1999 (the association’s 100-year anniversary), their published history stated: ‘Even as we are in the midst of enormous operational and cultural change, we have come to view such dramatic change as commonplace and take it for granted. When we stop to think about the degree of change that engulfs and propels us, it is just short of unbelievable.’ They also recognized that ‘computerized operations have evolved from a novelty to a necessity.’ Two decades later, InsurTech continues to drive our industry forward. We’re delighted to extend ePayPolicy’s solutions to IIAWV members and to their clients.”
About IIAWV
With roots dating back to 1899, the Independent Insurance Agents of West Virginia (IIAWV) is the state’s oldest and largest insurance trade organization. IIAWV is an affiliate of the Independent Insurance Agents and Brokers of America, Inc. (IIABA), the largest property and casualty insurance producers organization in the world.
IIAWV is a strong and committed advocate for more effective representation of independent insurance agents and consumers with both the state and federal legislatures. The association offers its members a variety of products, educational programs and services to increase their effectiveness and give them a professional edge in today’s competitive business environment.
Learn more at https://www.iiawv.org/default.aspx
About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs, and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide.
To find out more visit https://epaypolicy.com
ePayPolicy Poised for Growth with Serent Capital Investment
AUSTIN, Texas, January 8, 2020 – Electronic payment processing company ePayPolicy has received a significant investment from Serent Capital, a San Francisco- and Austin-based private equity firm focused on investing in high-growth technology and services businesses. ePayPolicy, an industry leader in electronic payment solutions for the independent insurance industry, will leverage the Serent funding for continued product enhancements, integration with the most widely used agency management systems (AMS), and accelerated growth.
Since its founding in 2014, ePayPolicy has been a proactive proponent of technology adoption by the insurance industry (“insurtech”). Specifically, the company has been on a mission to replace paper checks by enabling policyholders to pay electronically via credit card or ACH. Today ePayPolicy processes over $2 billion in payments annually, serving 2,300 independent agents, brokers, MGAs, and premium finance companies in the Excess & Surplus (“E&S”) insurance market. Some 28 Big “I” (Independent Insurance Agents and Brokers of America) state associations endorse ePayPolicy as their digital payment processor of choice for their members.
“This investment from Serent is a game-changer in our ability to strengthen our brand presence across the industry, integrate with even more agency management systems and take our platform to the next level in user (agency) and end-user (policyholder) experience,” said Todd Sorrel, Co-Founder of ePayPolicy.
Leonis Partners advised ePayPolicy on capital raising strategy.
Kevin Frick, Partner at Serent Capital, explained the firm’s decision by saying, “We knew immediately ePayPolicy would be a great fit for Serent. Their stellar reputation and innovative, industry-specific technology stood out. Their client satisfaction scores are exceptional and their references prove the most important point – they deliver.”
“We’re incredibly excited to partner with Co-Founders Todd Sorrel and Milan Malkani to expand ePayPolicy’s market reach and continue to drive exceptional value for their clients and the insurance industry as a whole,” concluded Frick.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive.
For more information on Serent Capital, visit www.serentcapital.com
About Leonis Partners
Leonis Partners serves as a full-service advisor to entrepreneur-led technology businesses. Calling on decades of experience from some of the largest leading global financial institutions, Leonis crafts highly calibrated solutions to achieve their clients’ needs as they pertain to M&A, capital raising, fairness & valuation opinions, and other special situations. Leonis Partners’ experience and track record in these core areas provide clients with superior results. The firm is headquartered in New York.
For more information visit http://leonispartners.com/
About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs, and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit cards or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide.
To find out more visit https://epaypolicy.com
###
Jumping on the Agency Re-branding Bandwagon?
When Should You Rebrand Your Agency?
Social networking giant, Facebook, unveiled a new logo on Monday that is meant to distinguish the parent company, Facebook, from the companies they own, Facebook, Instagram, WhatsApp and more. The new logo is a GIF that shows the word “Facebook” displaying in different colors to represent the different brands. The new logo will begin to roll out in the coming weeks within Facebook products and marketing materials.
So when it comes to branding what can your agency take away from Facebook’s new redesign? See it as a new opportunity to possibly freshen up your own branding and image in the industry. Re-branding helps your business stay current and relevant and offers opportunities to clarify your values and messaging in the marketplace. It’s important that your organization adapts to the changing trends and stays ahead of the curve so that your brand and mission continues to align with your existing demographic and prospective clients.
When reviewing your logo something as simple as rounding out your corners can help differentiate you from your competitors by conveying a sense of modernism and technology. Remember updating your logo isn’t going to change your agency that writes $100,000 in premium to a million in premium, but it’s a start in the right direction.
If you’re interested in learning more or ready to start re-branding, there are A TON of resources available that can fit almost any budget. Here’s a few check out:
For those who are unsure of where to start and in need of guidance, I recommend reaching out to consulting services like Agency Performance Partners.
For those who have a vision of what they would like to do but just need a little help bringing it to life, a service like Upwork or Fiverr will help you find your ideal designer.
To learn about the why’s behind Facebook’s new logo and the design you can read more here.
IIAB Arizona Favors ePayPolicy Payment Processing
AUSTIN, Texas, September 27, 2019 – ePayPolicy has recently contracted with Independent Insurance Agents and Brokers of Arizona (IIABAZ) to offer digital payment processing to the association’s 350+ members at a special members-only rate. The partnership offers Arizona’s independent P&C agents and brokers the ability to accept credit card and ACH payments online instead of a paper check.
ePayPolicy co-founder Todd Sorrel commented: “We are on a mission to make paper checks obsolete in the insurance industry. Consumers today expect the convenience of digital payment options. ePayPolicy developed our platform to satisfy that demand, while also managing the unique compliance and reporting needs of independent insurance agents/brokers. As our industry becomes ever more InsurTech-driven, we’re happy to offer IIABAZ members a powerful yet simple-to-use solution that’s designed just for them.”
Said IIABAZ Executive Vice President, Terri Edwards, CIC, CISR: “Our members know we’re serious when we say, ‘We understand what matters most to you and we have the tools to help — that’s our job.’ We evaluate products and vendors to make sure they’re able to fulfill our commitment to helping our members be successful. We chose ePayPolicy because it’s the only payment processing platform built specifically for independent agents and brokers. These guys really know payment processing. More importantly, they know our industry.”
Concluded Sorrell: “We’re excited to formalize our relationship with IIABAZ and bring modern, convenient digital payment to association members and their clients. Like IIABAZ, ePayPolicy is all in for helping today’s independent agents to build, grow and thrive.”
About Independent Insurance Agents and Brokers of Arizona
The Independent Insurance Agents and Brokers of Arizona (IIABAZ) was founded in 1932 and incorporated in 1936 and for all those years has worked to support the independent insurance agents and brokers, providing products and services unparalleled in the industry.
Joining IIABAZ means having available the resources of local, regional, state, and national organizations fully devoted to the success of insurance professionals. Members of the IIABAZ are among the more than 300,000 agents and agency employees across the country. IIABAZ serves from the one man shop in rural Arizona, to the national brokerage firm in the metro areas. The association’s mission is the same: SERVICE.
For more information visit https://www.iiabaz.com
About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide.
To find out more visit https://epaypolicy.com
Big I NJ Names ePayPolicy Partner for Payment Processing
AUSTIN, Texas, August 22, 2019 – Big I New Jersey has selected ePayPolicy as their preferred provider of digital payment processing for the membership. The partnership will enable Big I New Jersey members to accept credit card and ACH payments online, speed up receivables and bind policies faster.
New Jersey is the 28th state association of the Big I to endorse the company, broadening its exposure to some 432 member offices and 4,000 potential individual users throughout New Jersey.
ePayPolicy Co-Founder Todd Sorrel commented: “ePayPolicy was built by insurance experts. We work exclusively in this vertical. As InsurTech evangelicals, we’re determined to help independent agents everywhere compete in an increasingly digital world. This is a singular opportunity to show New Jersey’s independent agents how digital payment processing can transform their client nurturing, streamline their operations, and build their business.”
Big I New Jersey President/CEO Sheri Acconzo said: “Our members know they need to embrace technology to stay relevant. And they look to Big I New Jersey for provider recommendations. We chose ePayPolicy as our payment processor because their insurance-specific digital payment processing platform has rapidly become the best in class. But ePayPolicy goes beyond technology. They also offer ideas and opportunities to brand your agency and build your client relationships.”
Concluded Sorrell: “It’s an honor to be chosen as a Big I NJ technology partner. Their endorsement enables us to penetrate a major state within the national Big I. It’s a major boost in our credibility with forward-thinking Trusted Choice independent insurance agents.”
About Big I New Jersey
Big I New Jersey is a community of insurance professionals who come together to build a successful future for their agencies and work to improve the independent agency system. For 126 years the association has been advocating for the state’s Trusted Choice independent insurance agents.
The association’s staff is comprised of a group of experienced professionals dedicated to the insurance industry. Big I New Jersey believes insurance matters, and no one understands that better than a Trusted Choice independent insurance agent. Members represent the best and brightest insurance professionals in the state.
It is Big I New Jersey’s mission to help all of its members be successful. The association accomplishes that by providing unparalleled education, advocacy, marketing, and resources to support each and every one of their business interests.
Learn more at: https://www.biginj.org/
About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs, and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit cards or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide.
To find out more visit https://epaypolicy.com
The company’s annual InsurTech Agency Award recognizes independent insurance agencies/brokerages for leveraging technology to enhance their sales, marketing, and customer service. Details and call for entry are at https://www.insurtechaward.com/
###
ePayPolicy Integrates with Vertafore’s AMS360
AUSTIN, TX – July 23, 2019 – ePayPolicy, a Vertafore Orange Partner, today announced it is adding payment processing capabilities to Vertafore’s AMS360 agency management system and extending its integrations into five Vertafore management systems.
ePayPolicy supports independent insurance agency efficiency and superior customer experiences by enabling agencies to accept payment via credit card or ACH instead of check.
“It makes paying for insurance like paying for most any other purchase in today’s digital environment — instant and easy,” explained Milan Malkani, ePayPolicy co-founder.
AMS360 is Vertafore’s foundational agency management system, designed to help independent agencies to streamline workflows , improve renewals and retention , and drive new business, resulting in improved employee productivity and a superior customer experience.
“ePayPolicy has proven to be an indispensable solution partner. Its team is as avidly customer-centric in its thinking and product delivery as we are at Vertafore,” said Doug Mohr, VP of Industry Relations & Partnerships, Vertafore. “The 6,000+ agency users of our best-in-class AMS360 system now have best-in-class payment processing capabilities. This partnership is truly customer service at its technology-driven best.”
ePayPolicy shows the exact balances due. Once payments are made, activities and suspenses are created automatically within AMS360. Users will also benefit from easy on-boarding, quick setup, clean accounting and a fast, one-to-two-day go-live timeline.
“Our valued relationship with Vertafore just got deeper and stronger,” added Malkani. “Integration with such a powerhouse system as AMS360 exponentially increases our exposure within the independent agency market. More important, it offers thousands more independent agents and brokers the ability to modernize the way they accept insurance payments.”
About Vertafore
For over 50 years, Vertafore, the leader in modern insurance technology, has built and supported superior InsurTech solutions to connect every point of the distribution channel. Vertafore agency management, ratings, regulation, compliance, and connectivity products streamline workflows, improve efficiency and drive productivity for more North American insurance professionals than any other provider—including more than 20,000 agencies, over 1,000 carriers and 23 state governments. Through a continual focus on operational excellence, development of innovative solutions, and alignment with key industry partners, Vertafore is leading the way for customers of all sizes by delivering results that make a difference.
For more information about Vertafore visit https://www.vertafore.com
To learn specifically about AMS360 visit https://www.vertafore.com/products/ams360
About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide. To find out more visit https://epaypolicy.com
The company’s annual InsurTech Agency Award recognizes independent insurance agencies/brokerages for leveraging technology to enhance their sales, marketing, and customer service. Details and call for entry are at https://www.insurtechaward.com/
Media Contact:
Seth Nagle, Director of Marketing, ePayPolicy | 512-643-9015 | Seth@epay3.com
Alexea Candreva, SSPR | 719-475-0370 | vertafore@sspr.com
Let's Connect at The 2019 WSIA Marketplace Event!
Simplify your accounting, easily send funds, and receive your payments faster all with ePayPolicy. Created by insurance experts for the insurance industry ePayPolicy provides the simplest solution for MGAs, premium finance companies, brokers and agents to collect and send ACH and credit card funds across the industry.
We reserved a table within The Club and will hold meetings Monday through Wednesday during the Annual Marketplace. Book a time now on our caladnar to schedule a time during the event! We look forward to seeing you there.
About ePayPolicy
ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide. To find out more visit https://epaypolicy.com
About WSIA Marketplace
The 2019 WSIA Annual Marketplace event is in two months! The event will be held in San Diego, CA at the Manchester Grand Hyatt and the Marriott Marquis in San Diego Marina and is the premier event for the wholesale, specialty and surplus lines industry
Gary Vee Does Insurance
We recently ventured to the Big Apple for an incredible podcast session at Vayner Media world headquarters with the one and only Gary Vaynerchuk (Gary Vee). Bradley Flowers and Scott Howell, aka The Insurance Guys, led the interview, and Andy Priesman of Cover Desk and Todd Sorrel of ePayPolicy added some commentary around the impact of InsurTech across the industry.
With the focus around personal branding, innovation, and strategy, this 40-minute podcast is a must for all the independent agents out there. Here are just some of our takeaways from the in-depth discussion.
The insurance agent of the future (not to mention every day, right now) should be high tech and high touch. That combination is a win/win strategy.
What do we mean by high touch? High touch means engaging in human to human interaction that builds trust. Since you’re selling a product that protects people, it’s important to genuinely like people. (Of course you do, but if you have anyone in your agency who doesn’t like people, perhaps this is not the field for them.)
You should give without strings/expectations. Gary Vee pointed out the difference between authentic selflessness vs. selfish selflessness. Selfish selflessness is verboten in Gary’s world, and ought to be in yours.
A practical application of high touch is to follow up after binding a policy. Not with any agenda – just to check in. Mention something personal you remember about your customer: ask about a pet, a hobby, a family member. Show you’re not just there to make the sale and move on.
I think of branding as residing in both realms. It is the linchpin between high touch and high tech. And it is essential. Note that branding is a key theme in my post about seeking inspiration outside of the industry. When you are marketing something you’re not in control of, you are not in control. While this part of the discussion centered mainly on captive agents, it’s still a truism of all branding. If you don’t control your brand, it will be controlled for you.
Now here’s something I suspect many of you have either never considered –or have spent hours worrying about. Or, you may already be doing it. If so, that’s awesome. Per branding maestro Gary Vee, one way everyone should be putting themselves out there is by creating content. For those who are not comfortable doing a vlog, do a podcast, or write articles for LinkedIn. This is not optional. If you’re not differentiating your brand through content, you’re becoming irrelevant.
Inevitably, the conversation turned to high tech and its profound influence on our industry. Gary Vee pointed out that Amazon is entering the insurance market in a big way. They’ve hired more insurance actuaries than any other company. Should you be afraid? Gary says no. He said Amazon entering the industry should not be scary — unless you’re not willing to put in the work.
What else? Imagine customers asking Alexa or Siri for an insurance agent. Will Alexa or Siri pick you?
Next, the subject of buying insurance online came up. Just like we at ePayPolicy advocate that customers should be able to pay for insurance however it’s most convenient for them, Gary Vee says we should let consumers buy insurance online if they want to. It’s all about being customer centric.
Finally, the topic turned to outsourcing. Gary’s all in favor of outsourcing functions that are not your core competencies. This goes for administrative functions like payroll and virtual support (nod to here to Cover Desk). It goes for payment processing. It could also involve seeking outside expertise and tech channels to build your brand through social media. If these are not core competencies that you possess within your agency, by all means seek out experts to help you build and manage your brand.
In summary: Insurtech is exploding. We’re witnessing a true revolution. These tools are there to make your life easier and your office more efficient. But never forget you’re selling to people. When you put your customers’ needs first, when you seek to delight them and spread love instead of fear, everyone wins.
These are the highlights that jumped out at us. Be sure to tune in to the podcast for the full interview. I’m sure you’ll enjoy the spirited discussion and valuable business insights.
Announcing The 2019 InsurTech Agency Award
FOR IMMEDIATE RELEASE
The 2019 InsurTech Agency Award Now Open for Entries
industry-wide competion recognizes insurange agency achievement in technology adoption
Austin, TX – June 13, 2019 – ePayPolicy is now accepting applications for The 2019 InsurTech Agency Award competition. The award, now in its second year, recognizes independent insurance agencies/brokerages for leveraging technology to enhance their sales, marketing, operations and customer service functions.
All aspects of the award are designed to foster agency business improvement and spur widespread tech adoption throughout the insurance industry.
“The goal of any agency is to create a seamless experience in which your clients enjoy every interaction,“ said Todd Sorrel, ePayPolicy co-founder. “We created the InsurTech Award to celebrate those firms — big and small — who are out there leading the charge to tech-enabled customer engagement and business growth.”
The InsurTech Agency Award acknowledges both achievement and effort in technology adoption. Applicants are scored on their use of technology in four categories:
1. Client & Prospect Engagement
2. Day-to-Day Operations
3. Technology Vision
4. Technology Investment
The scores in each area are combined into the applicant’s Insurance Technology Adoption (ITA) score. ITA is a subjective measure of an agency’s competitive standing in the insurtech space. All applicants will receive their ITA score, along with evaluator feedback and suggestions on opportunities to improve.
The grand prize winner is the agency with the highest ITA score. In 2019 the grand prize winner will receive:
– $1,000 cash
– $1,000 towards insurtech services
– 1 Year of consulting services
– 1 free year of ePayPolicy payment processing services
“With so many simple yet powerful insurtech options out there today — from AI chat bots to social media management to internal communications platforms and digital payment processing — we’re excited to see what agencies are using,” said Sorrel. “We’re expecting some creative new applications from our 2018 participants and demonstrated momentum overall since last year’s award.”
ePayPolicy encourages everyone to apply. “At minimum, you’ll receive valuable feedback via your ITA score. And — you just could be our 2019 grand prize winner,” concluded Sorrel.
For more information on the 2019 InsurTech Award, including online application, visit: https://www.insurtechaward.com/
About ePayPolicy
ePayPolicy is the simplest way to collect insurance payments. Designed for independent agents, brokers, premium finance companies, MGAs and their clients, ePayPolicy’s innovative electronic payment processing portal enables clients to accept credit card or ACH payments without messy merchant accounts or hidden fees. It sets up quickly and integrates seamlessly with leading agency management systems. ePayPolicy helps thousands of agencies across the country improve the customer experience, speed up their receivables and bind policies faster. The Austin,Texas-based company does more than provide a product; they’ve created a community of like-minded insurance professionals eager to innovate. ePayPolicy is endorsed by independent insurance associations nationwide.
Media Contact:
Name: Seth Nagle
Phone #512 643 9015
Email: Seth@epay3.com
A Business Guide to Surviving Any Natural Disaster
2017 was a catastrophic year full of devastating storms. Harvey, Irma, Maria, Jose. The list of last year’s now-infamous hurricanes unfortunately goes on.
And as the rain and wind in 2018 continue to hammer down (many are still suffering setbacks of Hurricane Florence), it’s more important than ever to educate and prepare for inclement weather.
As a business owner, it can seem like spending time preparing for something out of your control is a waste of time. Or trivial. Especially in comparison to bringing in leads, serving customers, and improving general business.
But having a plan of action for natural disasters could be the difference between an organization sinking or swimming. Without a doubt, it is something any good business leader should have but hope to never use. Here are a few tips to help protect you from even the rainiest of days.
1. Be Proactive
This is so important. Don’t wait until the eye of the storm is over your business to start reacting. Take charge. Make a preparation checklist. Check the weather reports regularly, especially during peak hurricane season. Purchase any gear or groceries you need BEFORE stores start to run out of everything and mobs of people begin fighting over bread, water, and generators.
2. Protect the Property
This one is a given. It’s in your best interest to do everything within your power to reduce property damage (and thus hopefully reduce repair costs). This can include sandbagging areas that have a high flood risk or installing shutters or plywood to windows and doors. You may also want to consider removing surrounding tree branches that could potentially fall on your building.
3. Protect the Gear
Inclement weather hardly ever equals good news for hardware. Whether you’re preparing for a flood, hurricane, tornado, or an earthquake, one thing remains constant: protect your gear.
Electronics are valuable, fragile, and expensive to replace. Take precautions as early as possible to avoid having to buy your whole staff brand new desktops. Move gadgets to an elevated area if you’re expecting floodwaters. Put them in the safest room in your office (one with no windows is ideal). Make sure to shut down computers and unplug machines, cables, and power surges.
Certain tech like external hard drives often hold lots of valuable and irreplaceable information and data. Which brings us to our next, very important, tip.
3. Back Up Data
Boy, is this a big one. Even if you are lucky enough to suffer no property damage, there is always a huge risk of losing important company data, customer insights, contact information, contracts, etc. And while it is challenging to recover from physical damage, losing crucial business documentation could be the end of your organization.
The easiest and most secure way to backup electronic data is by saving files to an external hard drive and then keep that hard drive with you. Do not leave it at the office. Wherever you go, the hard drive goes, too.
4. Digitize Everything
Insurance is an old-school business. The industry is changing as insurtech continues to explode, but there will always be a few folks who still don’t do everything electronically. For the most part, this isn’t a problem. But where inclement weather is concerned it can be a huge issue.
If you have valuable paper documents, scan them ASAP and then save those files to the hard drive mentioned in tip #3. It’s still wise to place the physical documents in a Ziploc bag and store them in a dry area while you ride out the storm. But if they get swept away with the rain/wind/whatever, it’s not the end of the world…as long as you have a digital copy on your hard drive, of course.
—
Companies are constantly at risk. They are at risk of losing money, stagnant business, fierce competition, and on and on the list goes. Sometimes risk is outside of our control, but being proactive and preparing for the worst of Mother Nature is totally and completely within our power. There are no excuses.
According to an August 2017 article by the Associated Press, Hurricane Harvey damaged nearly 700 business in Texas alone. Each natural disaster means every business in the storm’s path is on the chopping block. So it’s up to you as your business’ leader to heed our advice and weather each storm before they arrive at your office door.