In The Advantages of Strategic Advisory Boards For Agency Owners insurance agencies expert witness Andres Barile, MBA, CPCU, writes:
As the owner of an insurance agency, there is no legal requirement to have a board of directors. But in these interesting times, the owner of an insurance agency should look at forming a strategic advisory board.
A strategic advisory board is a group of carefully selected insurance experience advisors that assists the agent owner in making important decisions. Unlike a traditional board of directors, a strategic advisory board is comprised of members who have knowledge and expertise in specific areas of the insurance industry. The goal of the strategic advisory board is to reduce the amount of anxiety equated with confronting unexpected situations, and to provide solid, trustworthy business advice to ensure successful and profitable agency planning and execution. By adding substantial value, their cost does not become a burden for the agent owner.
Read more: insuranceexpertnetwork.com.