Education and what we plan to do with it!

We had another great year of speakers at the Annual Tennessee Association of Mutual Insurance Companies education seminar.  Now the next step:  implementing what we have learned. With our company, one of the biggest things we came away with was strengthening our board. We are very fortunate to have a very progressive board who are focused on the future of our company and who will do what it takes to keep our company viable in the future. However, we have to continually evaluate ourselves as individuals and as a board. Ask: What do I bring to the Board/Company? What are my personal strengths/weaknesses and how does that affect our company? What is our company’s strength/weaknesses? What can I do to help our company grow? What steps can I take to make sure I am making the best decisions for the company? Are we as a board making sure we are making the best decisions for strength and growth of our company?

We as multi-generational companies, often get stuck in the idea that “it has always been done this way, why change it” mentality. Our company is not afraid to step outside this mentality and explore different avenues to open our company to growth and future success. Seven of our nine directors have their NAMIC (National Association of Mutual Insurance Companies) Farm Mutual Director Certifications (FMDC), meaning they have attended and continue to attend education seminars focused on directors and their roles in our companies/organizations. Our manager has gotten the Professional Farm Mutual Manager Designation through NAMIC and our assistant manager is currently taking the required courses to get this designation as well. This means is that we have strong leaders who are constantly looking for ways to improve our company and do what is best for the future.

Educating, setting high standards and challenging ourselves are the key elements used to guarantee the success and growth of our company. 

Our Views on Continuing Education

Why We Continue to Educate Everyone in Our Organization

With any business, education is a key element in keeping your company informed. It helps revitalize your employees, directors and executives to get them thinking outside of the everyday operations, taking a step back to look at the big picture for the company as a whole. Are we on the right track? Are we following the current action plan for the company? Are we where we want to be? Are we using every source of information possible?

There are a lot of educational opportunities that can help answer those questions. Over the next several days our company is attending the Tennessee Association of Mutual Insurance Companies' annual education seminar. Not only will most of our staff be there, but most of our directors as well. It is important to educate EVERY person in your organization. You cannot expect an organization/company to grow if only one person is being educated. Most of the time the person attending the CE classes is not the final decision maker in the organization/company.

It is not about just attending the seminar, but about taking what the speakers say, using their thoughts, ideas and advice and making them work for your company. The speakers at these conferences are experienced industry professionals who want to see our 100+ year old companies continue to thrive and grow. With the fast changing technology and society we have all the resources available. We can still stand by the core values our companies were founded on, but use new ideas to get our companies where they need to be.

I am very excited to see what the next couple of days bring, what I can learn from the presenters and what new ideas I can bring to my company.

Barbie Lambert
Manager

Actual Cash Value vs Replacement Cost

What is Replacement Cost?

Replacement cost is the cost to replace the property at the same location with property of similar quality and material. 

Ex: 30 year shingles ripped off by a windstorm are replaced with 30 year shingles in the same or similar color. 

What is Actual Cash Value?

Actual cash value is replacement cost - depreciation

Ex: Your roof is damaged and it will cost $2,000 to fix the damage to your 15 year old roof. You will get $2,000-Depreciation= less than $2,000.

Why Purchase a Replacement Cost Policy?

It offers more protection when a loss occurs.

Why Purchase an Actual Cash Value Policy?
It still offers protection, but generally at a lower price.

Job Opportunity: Join Our Team!

We are looking for a Customer Service Insurance Agent to join our team. It is a full-time position with benefits in Mountain City, TN. 

Responsibilities Include: 

• Writing policies 
• Answering the phone
• Interacting with customers in the office
• Handling payments

Qualifications: 

• Computer literate 
• Money handling experience
• Customer service experience
• College degree preferred but not required
• Prior insurance experience a plus

We will help with agent licensing if necessary

Please send resumes to barbielambert@easttnmutualins.com, fax to (423) 815-9013 or drop them by our office on Tuesdays and Thursdays at 383 South Shady St. Mountain City, TN 37683