Virtual Agency Solutions (part of the Independent Insurance Agents of Wisconsin, Big "I" State Association) was created in 2017 to help improve insurance agency operations and help agency owners create a culture of Errors & Omissions awareness. Agency risk management is a passion and Virtual Agency Solutions is here to work with your agency. We understand it is not a one-size-fits-all process and your agency is unique. We are here to help your agency with your operations or technology needs and will work with you to find the solutions you need.
This review of insurance agency operations includes a thorough report, recommendations for change and resources for updating agency workflows and mitigating E&O exposures.
Agency websites are used as evidence to argue the merit of an E&O claim. An E&O Website Review provides an independent evaluation of your agency's website in a quick and easy process.
Whether you're looking to update workflows or find new ways to invest in technology, an independent partner is the first step to help you make quick business decisions.
Have a question regarding your agency technology goals? Reach out to Virtual Agency Solutions and collaborate with our team today.
Meet Our Team
With experience in agency risk management, Evan Leitch has assisted insurance agencies with their operations, workflows and tech-stack. Graduating from the University of Wisconsin - Madison with a BBA in Risk Management & Insurance as well as Marketing. He lives in Madison, WI and enjoys watching the Wisconsin Badgers and Green Bay Packers - On Wisconsin!
Mallory Cornell, MBA
Swiss Re Approved Auditor
Director of Agency Risk Management
Mallory is the Vice President and Director of Risk Management and oversees the exclusive agency risk management and insurance programs for the Wisconsin Association. Mallory is passionate about risk management and the value it can bring to an organization, large or small. Prior to joining the Big "I", she worked for seven years within the global risk management and compliance teams at Kimberly-Clark Corporation.
CEO of the Independent Insurance Agents of Wisconsin
Matt Banaszynski is the Chief Executive Officer of the Independent Insurance Agents of Wisconsin as well as CoFounder and Treasurer of Catalyit. Matt joined the IIAW in 2010. Matt currently serves as a Strategic Advisor to Insurtech company, DAIS/Internet of Insurance.
Jeffrey A. Thiel, CPCU, WCS
Director of Agency Success
After a 41 year career in Wisconsin as an independent agent focusing mostly on commercial lines production (last 12 years at R & R Insurance Services), Jeff accepted the opportunity to bring his experiences as an agent and as a 30+ year volunteer and leader within IIAW. His goal is to enhance relationships throughout the association and ensure our agency and company partners are receiving the most value from their membership.
Why Agency Risk Management
The risk management process consists of identifying, assessing, evaluating/prioritizing and monitoring risks within a business, person, establishment or organization. While risk management can be understood as manipulating the probability and expected outcome of unfortunate events and their adverse consequences, Virtual Agency Solutions also finds ways to maximize the potential of the different opportunities that stand in-front of your insurance agency.
Through the right processes and modifications to operations, you can reduce the likelihood of finding yourself on the wrong side of a lawsuit and even discover new operational efficiencies that end up saving your agency a tremendous amount of money. By taking advantage of the opportunities you face, you create an internal culture of risk management awareness with efficient and sound agency procedures that keep your employees happy and writing new business.
As an insurance agent, you take your clients through the risk management process whether you realize it or not. The way you are addressing and evaluating the clients exposures and risks is through insurance. Some agencies take it a step further and offer loss control services to large clients. These are just two examples of risk management. While you may be the expert on selling individuals and organizations an insurance policy to address their risks, we are the professionals that help agencies address their own risk through different risk management techniques including education, audits, operational reviews and more.
While risk management services do sometimes have a price tag, the overall cost of managing risks is significantly less than the consequences of unmanaged exposures. When done correctly, risk management increases the value of a business due to having high-quality operations and a reduced-risk of having negative financial consequences even if you have an insurance policy. The most significant risk facing agents is the potential for an E&O lawsuit due to a preventable action from an employee.
Remember, risk management is a process. It's not a one-and-done action.