IMMS CONSULTANTS

FIRM

Agency Consulting Group, Inc.

507 North Kings Highway
Cherry Hill, NJ 08034
Toll Free: (800) 779-2430
Phone: (856) 779-2430
Fax: (856) 667-6224
E-Mail: [email protected]
Web site: www.agencyconsulting.com

PRINCIPAL(S)

E. Al Diamond

SYNOPSIS

 

Agency Consulting Group, Inc. is a small but extensive consulting firm serving the insurance agency industry throughout the U.S. and Canada. Its staff includes an attorney, an Enrolled Agent (licensed to practice before the IRS) and Systems Specialists (fully accredited in networking and PC-based solutions for insurance agencies) as well as analysts and insurance and agency specialists.

 

WE ARE "CHANGE AGENTS" FOR THE INSURANCE AGENCY INDUSTRY - DEDICATED TO MAKING AGENCIES GROW AND EARN GREATER PROFITS. IF GROWTH AND PROFIT ARE YOUR GOALS, AGENCY CONSULTING GROUP IS THE RIGHT SOLUTION FOR YOU

SERVICES/AREAS OF EXPERTISE

BIOGRAPHY OF PRINCIPAL(S)

Mr. Diamond has been deeply involved in all facets of insurance agency and company operations including merger, acquisition and divestiture, perpetuation and strategic planning, organizational development, compensation and salary administration programs, administrative and financial operations and marketing and automation planning, ESOP, and perpetuation issues. Mr. Diamond also helps agencies create and develop direct marketing programs to enhance agency production. Mr. Diamond is a recognized EXPERT WITNESS on insurance agency values and common practices and procedures. He has qualified as an Expert Witness in both federal and state courts.

Mr. Diamond is the immediate past president of the American Association of Insurance Management Consultants (AAIMCO) and belongs to the American Arbitration Association. He was a charter member of the Quality Insurance Congress. He is on the Insurance Industry Advisory Counsel for NuServe, a cutting edge Internet technology company. Mr. Diamond acts as independent moderator for disputes arising from insurance agency operations, and as a facilitator for mergers, acquisitions, divestitures and internal perpetuation plans.

He is a qualified instructor for the Best Practices of Insurance Agencies programs of the Independent Insurance Agents of America. He has been named Business Skills Department Head for the Independent Insurance Agents of America's Virtual University. Mr. Diamond is an identified Expert on business management issues for the AllExperts Website. Mr. Diamond has been named Key Consultant for Financial/Accounting for Insurance Marketing and Management Services, a nationwide services business providing on-line services to insurance agencies. Mr. Diamond has created a Masters Program in insurance agency management (MAM) certifying agency managers and professionally managed insurance agencies (ACE � Agency Certified in Excellence). Mr. Diamond has been named an advisor on the nuServe Insurance Industry Panel.

Mr. Diamond writes a national newsletter for insurance agency principals and insurance industry executives, THE PIPELINE, distributed to agents, associations, and carriers throughout the U.S. He has spoken to hundreds of agency groups over the past 23 years that he has spent as a consultant.

Mr. Diamond's practice includes annual valuation and analyses of insurance agencies throughout the United States. Mr. Diamond and Agency Consulting Group, Inc. are one of the few consulting firms operating nationwide for agency valuation and consulting services from its Cherry Hill, NJ location. Since 1985 Agency Consulting Group has collected financial data and published the averages of common revenue and expense categories for independent insurance agencies in various size groups. These averages have been published in the Pipeline and in various other trade publications annually and appears on-line at the organization's website, www.agencyconsulting.com.

History:

 

Mr. Diamond has spent over 30 years in the insurance industry working for both stock (agency represented) and direct writing insurance companies, agencies and as an independent businessman. He has been Operations Manager for a major insurance company and Chief Operating Officer of three insurance agencies. He has been President of Agency Consulting Group, Inc., a national consulting firm for insurance agencies since 1985.

 

Professional History:

 

1985 � Current   President, Agency Consulting Group, Inc. � responsive to independent agents throughout the United States for a variety of services including Agency Valuation, Mergers, Acquisitions and Divestiture, Strategic Planning, Operational Development, Agency Automation, and Compensation Programs

 

11/00 � Current   Chief Operating Officer � 7 Division Tidewater Virginia P&C & L&H insurance agency � consulting assignment

 

 

9/01 � 1/03     Chief Operating Officer � Commercial Property/Casualty agency in central New Jersey � Consulting Assignment

 

 

9/01 � 1/03     Chief Operating Officer � Commercial Property/Casualty agency in central New Jersey � Consulting Assignment

 

1996 � 1998   Chief Operating Officer � South Jersey independent insurance agency �consulting assignment

 

1996 � 1997   Chief Operating Officer � Savings Bank Agency -- consulting assignment

 

1980 � 1985     Manager, Agency Consulting Department, CIGNA; developed and managed the agency consulting department for major insurance company.

 

1976 � 1979     Operations Manager � Colonial Penn Insurance Company; Opened Property/Casualty Division for major direct writing insurance company

 

1969 � 1976     Aetna Life & Casualty; various positions in underwriting, marketing, and agency management

 

Publications:   

  Mr. Diamond is currently authoring two books to be published by the Independent Insurance Agents and Brokers of America (IIABA), INCENTIVE COMPENSATION PROGRAMS FOR INSURANCE AGENCIES and DE-MYSTIFYING AGENCY VALUATION, MERGER, ACQUISITION AND DIVESTITURE

  

Mr. Diamond has authored a monthly national newsletter for the insurance agency industry, "The Pipeline" since 1987. His articles on agency management, compensation, planning, perpetuation, valuation and the industry's future have been published in the National Underwriter and in national and state publications of the Professional Insurance Agents of America and the Independent Insurance Agents of America.

REFERENCES

John Treiber Agency, Inc.
377 Oak Street Mitchell Field
Garden City, NY 11530-0601
(516) 745-0800
Scott Treiber

Parker Remsen Sullivan

317 Cleveland Avenue

Highland Park, NJ 08904

(732) 247-6100

Sean Kelly; Tripp Salisbury

Milennium Group

276 Duffy Ave

Hicksville, NY 11801

(516) 931-0600
Jim McKinnon

Commonwealth Insurance Group

PO Box 12128

Newport News, VA 23612

757-253-5604
Linda Walker - President

Clarion Insurance

1711 New York Ave

Huntington, NY 11746
(800) 848-2534
Dan Schoenfeld � President

 

FEE SCHEDULE

  • ON-SITE CONSULTING SERVICES
  • Al Diamond: $2,500
  • Senior consultants: $2,000
  • Automation Consultant: $1,500
  • Telephone consultations: $250 per hour
  • Back-office efforts by ACG analysts: $100 per hour
  •  
  • Expenses are billed on all on-site consulting service as a separate charge

*    EXPERT WITNESS � (call for charges for expert witness and litigation support services) 800-779-2430

  • AGENCY VALUATION
  • Initial: $3,500-$7,500 (call for specific pricing 800-779-2430)
  • Annual updates: $1,500-$2,500
  • SEARCH AND SCREEN (for Merger/Acquisition)
  • $3,500-$5,500
  • Newsletter (The PIPELINE) � Subscription on �line FREE (call 800-779-2430)