MAIA awards the Five Star Designation to an independent insurance agency that has demonstrated excellence in all five 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 consultative process results provide valuable information, insight into the organization, and guidelines for reaching its goals.
⭐Star 1. Customer Focus
⭐Star 2. Management/Leadership
⭐Star 3. Human Resources
⭐Star 4. Product & Process
⭐Star 5. Future Success Initiatives
Benefits of Being a Five Star Agency
How Does It Work?
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, 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 five Star agency staff 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 entirely administered by MAIA. (Programs MAIA offers on behalf of the National Alliance, The Institutes, IRMI, and 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. Still, 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.
The only way to earn the Five Star Agency Designation is to complete a rigorous fitness review of your agency. A full review requires at least three days and may take longer, depending on the agency size.
- A review team 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. 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 a time to present the detailed report to the entire agency (ownership, management, and staff). In this meeting, the agency’s strengths and areas for improvement will be discussed as they relate to each of the Five Star imperatives.
Agencies that reach the Five Star status are awarded the Five Star Agency Designation at the end of the report presentation. Based on the report, agencies that do not get the Five Star status are encouraged to develop improvement initiatives. The agency then can 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 maintain their designation.
Current List of Five-Star Agencies!
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 help your agency in the Five Star journey.