Approaches to consider to introduce a new
engagement model and strengthen agency culture
This year, independent agencies have a great opportunity to be involved
and continue to enhance their community engagement and impact.
By Bill Ross
With 2024 well in the rear-view mirror, it is a natural time for reflection and for planning the year ahead. The insurance industry—and particularly the local independent agent—have a unique opportunity to highlight their values and commitment among their employees and local communities through aligning their business plans with active engagement plans. Strong plans emphasize involvement of employees, alignment with company values/culture and a variety of options to engage and support local community organizations.
Don’t forget, within the community are your potential business clients. By demonstrating your community-focused values, you are bettering your communities and your prospects.
Our industry has a long history of being there for individuals, families and businesses at a time of loss. The independent agent is a trusted member of the local community and is relied upon during a time of need. Yet we build our relationships often over years of working together, and most often long before a disaster or loss occurs. Charitable giving and volunteerism offer wonderful opportunities to enhance these relationships, while giving back to our neighbors and communities in need.
At the Insurance Industry Charitable Foundation (IICF), we celebrated our 30th anniversary in 2024 with a special campaign designed to raise funds in the fight against childhood hunger. We were proud to see so many individual insurance employees and organizations rally behind this important cause and aid our efforts as we raised over $200,000 during the year for children and families facing food insecurity.
As independent agents, striving to maintain and grow market share and deliver for your community is vitally important. Increasing visibility in the local community can achieve greater market expansion through aligning a unique and targeted community strategy with your business strategy.
A thoughtful approach to charitable giving, employee engagement and volunteerism can easily be aligned with targeted local areas and regions you plan for growth, and/or alignment with important industry partners. At the IICF, we see this alignment of local grants, employee volunteerism and leadership, in both the community and our industry, as the successful pillars of our industry foundation.
Strategies for engagement
Today’s workforce continues to evolve with work-from-home trends, further introduction of technological advancements, diversity of talent and the markets served; and certainly, more changes are on the horizon. Such changes have the potential to introduce a new engagement model and strengthen our agency culture.
Charitable giving should be a part of an agency’s overall business plan and should be integrated into the wider company culture. Consider the following approaches to philanthropy as you put together a plan for your agency:
Engage employees for their suggestions and recommendations concerning community support. Employees are members of the community and can provide insightful recommendations for new potential markets and local community needs. Actively engaging employees furthers your agency culture of “our people drive our success.”
Introducing flexible opportunities to give back. Staying ahead of new volunteering trends is critical. Equally important is integrating new trends into your agency culture. Virtual volunteering after the pandemic has become increasingly popular among remote workers. As a result, more opportunities are now available such as virtual food or clothing drives and letter-writing campaigns for our military service members and their families.
Each spring, IICF hosts a Step Up Challenge (stepup.iicf.org), a four-week exercise challenge that encourages industry members to walk or run to raise funds for vulnerable children. Virtual volunteering and individual/team competition community programs like Step Up offer an ideal way for remote workers to connect with other teammates and align company culture while feeling included in promoting social good.
Connect client and partner relationships to community and local giving. Independent agents, who thrive on building and maintaining personal connections and relationships, will benefit as we bridge our business relationships with our local community engagement plans. Charitable giving, volunteering and greater direct involvement with the community can introduce additional avenues to help agencies develop and deepen community and partner relationships while they continue building their books of business and increasing agency awareness.
The time we spend with business and community partners continues to reinforce our agency services, our values and position in the community. All engagements with business partners and community leaders have tremendous value and help to strengthen and grow new business opportunities.
Volunteering as an entire agency, or with a few volunteers representing your agency, demonstrates leadership, the quality of your employees and the core values of your agency. Serving on a community nonprofit board or committee further demonstrates the values and commitment of those working for and representing your agency.
Inviting a prospect to a volunteer project is another way to show firsthand your agency’s vision and dedication to its clients and the community. It can also help ensure that your agency’s core values align with your clients, and industry partners.
Leverage the marketing benefits of philanthropy. Getting involved in your local community can help establish your agency as a respected community and business leader. Carefully select local activities for your sponsorship and agency involvement. Sponsoring youth sports teams, for example, could significantly improve recognition within the community and demonstrate your values in action to potential new clients. Consider reaching out to local business organizations and key community leaders to better understand today’s community needs.
The IICF provides community resources and philanthropic programs that enable the entire industry, including independent agents, to make a meaningful local impact. Our mini-grants program, which is conducted in select IICF regions, is a perfect example. Agencies are invited to nominate a nonprofit that is focused on a cause important to them as an agency or to their employees. The approved grants show how a smaller grant award can have real impact to a typically smaller or recently launched local community nonprofit, and to those they serve.
Join with others to make a bigger impact. Expand your community knowledge and better understand local needs through business and community partnerships. Adding your agency’s name to an impressive list of community supporters positions your agency with other leading and active community leaders.
Consider recognizing outstanding employees with an IICF Global Membership, which provides individuals access to exclusive volunteering and networking opportunities alongside like-minded colleagues, and professional development resources through educational content such as an insight series hosted by senior insurance leaders. The program can help agents grow their network while expanding their skillset.
Reinforcing the culture of employee involvement and giving
Fostering a culture of giving in the workplace is common practice today. Independent agencies wanting to grow their business and increase their talent pipeline should consider the overall values and benefits of community involvement, and how they are making this engagement known. Today’s workforce expects to work for companies who achieve meaningful work, and they want to work for companies that value and actively better their communities.
Developing a culture of giving starts with defining your agency’s value system and communicating those values to partners, clients and employees. Consider these best practices:
- Listen to your employees and clients to better understand what is important in the community. Ask what nonprofits or causes resonate most with them and try to get involved with those causes, whether through a contribution or by volunteering.
- Celebrate the culture of giving. Our industry, and most businesses, now recognize that community involvement and charitable giving are expected by employees. Celebrate as an agency the total number of hours volunteered, the number of employees who volunteered or the number of causes supported each year.
- Reward staff members and offer greater opportunities to get involved. Consider programs such as matching staff donations to local nonprofits or offering volunteer days off so that team members feel encouraged to take time to support community causes. We have seen these programs boost morale and help team members feel valued and appreciated.
A picture is worth a thousand words
Agencies should also take the time to promote their charitable giving and volunteering. Post photos and share your involvement in the community on social media and tag the nonprofits your agency donated to or volunteered with to generate additional engagement. Add action photos of your volunteering efforts to your website and consider adding nonprofit partners to your website. These simple steps are cost effective and can help reach a younger audience and support your efforts to expand a stronger talent pipeline.
Overall charitable giving has a place in your business plan
Charitable giving and philanthropy are integral to the insurance industry culture. In fact, data from the Indiana University Lilly Family School of Philanthropy’s “2024-2025 Philanthropy Outlook” shows that we are expected to see a 3.9% increase in charitable giving overall, and we should expect similar strength in insurance industry giving.
This year, independent agencies have a great opportunity to be involved and continue to enhance their community engagement and impact. Start by reassessing your business plan to incorporate giving, volunteering and building strong community partnerships by working to integrate a culture of giving to the workplace to maximize value for your people, your business and the community.
The author
Bill Ross is chief executive officer of the Insurance Industry Charitable Foundation, responsible for the organization’s overall operation and strategic direction. He’s held that role since September 2004. Prior to joining IICF, he spent 31 years with the Walt Disney Company. He can be reached at bross@iicf.com.
