THE STAR DESIGNATIONStar 1. Customer Focus
Star 2. Management/Leadership
Star 3. Human Resources
Star 4. Product & Process
Star 5. Future Success Initiatives
MAIA awards the Five Star Designation to an independent insurance agency that has demonstrated excellence in all five of the associated imperatives, or “Stars.” Undertaking the Five Star process is indicative of an agency’s proactive approach to being among the best in the State, and their desire to establish a continuous improvement culture. The process involves a comprehensive and interactive review by MAIA’s consultant. The results of the consultative process provide valuable information and insight into the organization, and guidelines for reaching its goals.
BENEFITS OF BEING A FIVE STAR AGENCY
The distinction of becoming a Five Star Agency illustrates to your customers, company partners, employees, and community that your agency is committed to going above and beyond, providing superior knowledge, service, and value, and an optimal work environment. Upon earning the designation, your acknowledgments will include press releases, Five Star logos for advertising and recruiting, and bragging rights for three years.
All staff within a Five Star Agency are entitled to attend one MAIA E&O Loss Control Seminar annually for FREE. Additionally, you will get a 10% discount on any education program that is fully administered by MAIA. (Programs that MAIA offers on behalf of the National Alliance, The Institutes, IRMI, and/or CPIA programs cannot be discounted.)
Additionally, and perhaps most valuable, a Five Star Agency has access to consultative assistance from MAIA to develop its continuous-improvement initiatives, and accountability for meeting milestones on any areas of improvement noted in the review.
Any Five Star Agency will tell you that earning the designation feels GOOD, but the real reason to get involved in the program is to learn from it, and to receive objective, practical insights into the changes necessary to make your agency GREAT…and to ensure that it stays great.
Operating more effectively and profitably is the payoff.
HOW DOES IT WORK?
The only way to earn the Five Star Agency Designation is to complete a rigorous fitness review of your agency. A full review requires a minimum of three days, and may take longer, depending upon the size of the agency.
- A review team made up of MAIA associates will schedule appointments and conduct onsite, confidential interviews with each agency employee, starting with principals, moving to leadership, and then on to individual contributors.
- When interviews are complete, the review team will meet separately and discuss their findings relative to the Five Star imperatives and supporting criteria.
- The review team will create a detailed report to identify the agency’s strengths and areas for improvement. Additionally, following a strict numerical grading system, they will compare the results to the Five Star model to determine the agency’s Five Star Designation status.
- The review team will then schedule time to present the detailed report to the entire agency, (ownership, management, and staff, altogether). In this meeting, the agency’s strengths and areas for improvement will be discussed, as they relate to each of Five Star imperatives.
Agencies that reach the Five Star status are awarded the Five Star Agency Designation at the end of the report presentation. Agencies that do not reach the Five Star status are encouraged to develop improvement initiatives based on the report. The agency then has the option to complete a one-day follow-up review within one year of the original review date, to see if enough improvements have been made to reach the Five Star status.
Five Star Agencies must undergo a renewal review every three years to renew maintain their designation.
COST OF A FIVE STAR REVIEW
The cost of a review is $2,200 per day. A full review is a minimum of three (3) days; the actual number of days is dependent upon your agency size.
A follow-up review, if needed, is one (1) day.
A renewal review is two (2) days.
Note: Most insurance companies recognize the value of the Five Star Agency Designation, and many have supported their agency partners in taking the first steps in the Five Star program. Contact your carriers to see if they will support your agency in the Five Star journey.
Get Started Today
Begin your Five Star journey by speaking with MAIA’s Agency Performance Consultant, Erin Schaaf, at firstname.lastname@example.org or 774-573-3173!
NOT QUITE READY TO COMMIT TO THE FULL REVIEW?
Consider our Preliminary Five Star Review