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

A 118 Year-Old Insurance Company in Today's Insurance Market

Some of the oldest companies in the United States are Mutual Insurance Companies. Our company, East Tennessee Mutual Insurance, has stood the test of time and is still here 118 years after its inception on September 19, 1896. To say that it is a challenge to keep our small company relevant in today's market is an understatement. These challenges are exciting and we have made and are making changes to keep our company viable. We are using technology to mainstream our internal operations. This has enabled us to serve our current policyholders and given us more opportunities to reach the new generation if tech savvy policyholders. Our company was founded with the vision to serve an underserved group of people (farmers at the time) while maintaining honesty and integrity. While we have expanded out policy offerings (homes, doublewides, mobile homes, rental homes and farms) and our coverage area, we still stay true to that vision.

We have always offered our policyholders a "personal touch" and 'peace of mind", now we can do that more efficiently. We are in an exciting time where technology is offering us new and inventive ways to stay connected to our policyholders, but we still believe that when you contact us, there should be someone ready to talk to you personally. We have technology, but we do not alienate those that do not use or want to use technology.

At East Tennessee Mutual Insurance: "As a policyholder you are more than a customer, you are a member of our company and we work for you."

Check out the wonderful blog of one of our policyholders!

S&K Farm: Brrrr It's Cold!!!:

Have you ever wondered how cattle stay warm in frigid temperatures? Well, here's your chance to learn how! The secret involves three thi...

A Cake Recipe to Help You While Away This Cold Day Inside

Today is very chilly. I hope anyone who has to go outside is bundled up. However, if you have no intention of leaving the house today, I have a yellow cake recipe for you. I found it on a forum in cheftalk.com and it is the best yellow cake I have ever tasted or made. Hopefully you will enjoy your time baking and enjoy your time eating even more.

Basic Yellow Cake:

2-1/4C all-purpose flour (do not sift the flour)
1-1/2 C granulated sugar
3-1/2t baking powder
1t salt
1-1/4C milk
vegetable oil
1 stick butter (not margarine), softened
1T vanilla extract
3 large eggs

Preheat oven to 350

Cut baking paper to fit the bottom of (3) 9x1-1/2inch round pans. Grease with butter, place the baking paper in the pans and butter the paper.

In a large mixing bowl combine the flour, sugar, baking powder and salt, mixing well.

Measure the 1-1/4 C of milk in a 2C measuring cup...then add enough vegetable oil to bring the liquid up to 1-1/3C.

Add the milk/vegetable oil mixture, butter and vanilla to the flour mixture and beat with an electric mixer on medium to medium-high speed for 2 minutes, scraping sides of the bowl as needed.

Add the eggs and continue beating an additional 2 minutes. Pour batter into prepared pans.

Bake at 350 for 20 to 25 minutes or until a wooden toothpick inserted near the center of the cake comes out clean, or until the cake springs back when lightly touched at the center.

Cool cakes on wire racks for 15 minutes; remove from pans and cool completely.

Frost as desired

My favorite frosting on this cake is cooked chocolate frosting.

Cooked Chocolate Frosting

Mix together and cook over medium heat stirring constantly until thick and bubbly:
1-1/2C granulated sugar
1/4C + 2T cornstarch packed
7T cocoa
1T butter
3/4t salt
1-1/2C boiling water

Remove from heat and stir in:
6T butter
1T vanilla extract

Stir until the butter is melted; cool to frosting consistency and frost cake.

http://www.cheftalk.com/t/45372/finally-that-perfect-homemade-yellow-cake