We closed out another year, and what a year it's been.
I'll start with the "not so good." The economy has taken a toll on everyone. I have sat with many clients and agents alike and listened intently to the stories of the lives that were in some way strained by the challenges our country faces. As all of us have witnessed these issues are not minor either - they are life changing. Record high unemployment, hiring freezes and home foreclosures continue to top the list of urgent topics that need fixing. I optimistically think 2010 will be a chance to start fresh for much of our country. I have some strong opinions on how to start cleaning up this mess, but I'll save that for the 2012 year end letter!
With all the problems our nation and other insurance and financial firms have faced, we actually had a record year in life insurance - proof positive that people regard security essential even when money may be tight. Our rollovers did decrease from years prior. For too many Americans, their saved earnings dropped during the past year. However, this was not due to a decrease of contributions or a lack of their individual fiscal responsibility. Rather, they bore the brunt of poor market conditions. Nonetheless, our existing clients, and new ones this year, benefited from Valley Financial's proactive approach in transitioning their savings to secure and profitable vehicles during the downturn. Despite the current conditions, our clients have still realized consistent growth in their savings.
We added a Property and Casualty division led by Greg Gamez, a new Vice President with our company. Greg benefits our company with the more than 12 years of insurance experience he brings. With Greg's help, we have ascertained numerous agreements with top companies such as Progressive, Hartford, MetLife and others. I encourage all of you to help your clients save even more of their money by submitting them for a quote. Although this is a new division, I haven't seen a quote we ran yet that didn't beat their current policy.
On the tech side, our technology platforms have had some minor tweaks making them more user friendly for the agent. We have successfully achieved including more trackable links, updating follow up sequences and lead notices improving client and lead call reminders, and a slight revision to the Rep Resource Center. Call reminders are brand new for 2010 and will help you stay on top of your leads and clients resulting in providing the top notch service we promise.
"ALL IS A GO!" moving forward in 2010 as we look to add more agents to the company. We implemented a hiring freeze in the latter part of 2009, as we wanted to focus on those agents that we had. With three Vice Presidents and a total staff pushing 30, I think it's time to get some more highly motivated agents. As more consumers look to save money on "out of pocket" expenses including auto and home insurance and seek a safer yet profitable alternative than the market for their savings, 2010 will prove it's a great time to be in our business.
One of my favorite business philosophers Jim Rohn, who happened to pass away in 2009, once said, "There are two ways to face the future. One way is with apprehension; the other is with anticipation." With great anticipation, I say, "bring it on!"
To Our Success in Twenty Ten,
Jeff Junior
President
Valley Financial Corporation