Good morning my dear friend and colleague. If you were a fan of Game of Thrones, then you’ll remember this:

Winter is coming… 🥶🥶😜😜

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Now, let’s enjoy another day in the best industry in the world.

Let’s GOOO!

😱This week’s OMG moment

Arthur J. Gallagher announced its agreement to acquire AssuredPartners for $13.45 billion in cash, aiming to enhance its presence in the U.S. middle-market property/casualty and employee benefits sectors. The acquisition, which will bring AssuredPartners' 10,900 employees and approximately $2.9 billion in revenue into Gallagher’s network of around 400 offices across the U.S., U.K., and Ireland, is expected to bolster Gallagher’s capabilities in niche areas such as transportation, energy, healthcare, and government contracting. AssuredPartners, ranked fifth in Insurance Journal’s 2024 Top 100 Independent P/C Agencies, joins Gallagher as the deal marks the largest sale of a U.S. insurance broker to a strategic acquirer in industry history. The transaction, financed through a combination of long-term debt, borrowings, cash, and equity, is set to close in the first quarter of 2025 pending regulatory approvals, further positioning Gallagher alongside other major players like Marsh McLennan and Aon in expanding their middle-market reach.

🫱🏼‍🫲🏼For Insurance Agents

📰In the third quarter of 2024, commercial lines insurance rates rose by an average of 6.1%, according to WTW's Commercial Lines Insurance Pricing Survey (CLIPS), maintaining a trend of approximately 6% increases since the pandemic. The survey revealed that while sectors such as commercial auto and excess/umbrella liability continue to experience pricing pressures, commercial property rates are beginning to stabilize, indicating shifts in the insurance landscape as companies adapt to changing risks and economic conditions. Additionally, package commercial multi-peril and businessowners policies reached their highest levels in over a decade, and overall commercial property pricing showed signs of stabilization despite ongoing rate hikes in other areas. These findings highlight a market in transition, with the third quarter 2024 rates compared to the same period in 2023 reflecting the evolving dynamics within the commercial insurance sector.

👨‍👩‍👧‍👦Do you want your team to quote life insurance in seconds? Do you want your clients to quote life insurance in seconds? If this is the case, BackNine Insurance is your solution. BackNine is a FREE life insurance InsureTech that gives you direct access and appointments to multiple carriers in every State and Puerto Rico. Sign up with BackNine HERE and start enjoying the beauty of quoting and applying for life insurance in seconds. Oh, and remember to tell them that you are part of the Fun Family 😉.

🌟Motivation

📖The book "Think Like a Monk" by Jay Shetty inspires insurance professionals to embrace the timeless wisdom of monk philosophy to transform their personal and professional lives. Shetty encourages readers to cultivate mindfulness, resilience, and a purpose-driven mindset, essential for navigating the complexities and challenges of the insurance industry. By prioritizing inner peace and clarity, insurance experts can enhance their decision-making, build deeper client relationships, and foster a more compassionate and effective workplace. Shetty’s teachings empower professionals to overcome stress and negativity, focus on meaningful goals, and create a balanced life, ultimately leading to greater fulfillment and success. This transformative approach not only elevates individual well-being but also drives excellence and integrity within the insurance field, inspiring practitioners to thrive both personally and professionally. This has been one of our favorite books of all time, and I strongly encourage every insurance professional to give it a try.

⚙️Technology 

📦GloveBox acquired Better Agency CRM. Check out Nick Ayer’s (Co-Founder of Better Agency) video on what’s next for them. They will be hosting a “town hall” with more information. The link sign up is posted on the YouTube video.

🍎ChatGPT comes to Apple. OpenAI has announced the integration of ChatGPT into Apple Intelligence during Day 5 of its live stream event, enhancing Siri's capabilities on iPhone 15 and 16 Pro models. This seamless integration allows Siri to utilize ChatGPT for advanced writing, reasoning, and visual tasks, such as analyzing images in the new Visual Intelligence feature showcased in a Christmas sweater contest. Additionally, ChatGPT is now embedded within Apple’s systemwide Writing Tools, enabling users to generate content and images directly within Apple apps without needing an account, thanks to robust privacy protections that prevent data storage and IP tracking. This collaboration aims to revitalize Apple Intelligence by introducing exciting new use cases and strengthening Siri's competitiveness against other advanced voice assistants, potentially reigniting consumer interest and expanding the functionality of Apple's AI offerings.

🌎Around the World

🤔The global insurance sector is grappling with challenges such as regulatory costs, climate risks, and cyber threats, leading senior executives to emphasize the need for diverse skills and inclusive approaches to effectively address these issues. At a recent London conference, leaders like Jane Kielty of Aon PLC highlighted the financial burden of regulations on brokers and welcomed efforts to enhance competitiveness, while Fabrice Domange of Marsh France and Gabrielle Durisch of Allianz stressed the importance of innovative ideas and diversity of thought to manage emerging risks and attract skilled staff. Additionally, Penny Seach of Zurich Insurance Group advocated for encouraging experimentation and supporting diverse experiences within organizations. Overall, the panel underscored that fostering inclusiveness, promoting varied experiences, and embracing diversity are essential strategies for insurance companies to navigate the evolving landscape and achieve success. 

🤫Here’s one of my “FUN” Facts

I’m a HUGE soccer dad⚽😜 .

📰Non-Insurance Stuff

⌛Time magazine has named President-elect Donald Trump as its Person of the Year, celebrating his extraordinary political resurgence as only the second U.S. president to lose reelection and then reclaim the White House, following Grover Cleveland. Trump’s "72 Days of Fury" campaign overcame significant challenges, including a court conviction and assassination attempts, while garnering support from influential figures like Robert F. Kennedy Jr. and Elon Musk. During the announcement, Trump rang the New York Stock Exchange bell for the first time, accompanied by his family and Vice President-elect JD Vance. Time commended his ability to navigate a tumultuous election cycle and emphasized his plans to leverage his political capital to address national and international issues in his upcoming administration, underscoring his significant impact on the 2024 election and beyond.

🏢For Insurance Companies & MGAs

🤑Did you know that insurance companies and MGAs are making hundreds of thousands of dollars in additional revenues just by adding Commercial Cyber Liability and Personal ID Theft Programs to their portfolios? Awesome! Right?

Carrier’s and MGAs, think about this: you can add to your portfolio 1️⃣Policy + 1️⃣Premium + ❌No Underwriting + ❌No Filings (it’s already filed and approved) = ♾️Infinite Possibilities.

🔒Want to learn more about the Cyber Risk Purchasing Group (cyber liability policy) that could transform your commercial portfolio?

Fill out our quick form below and let’s work together to achieve more.

Today is the day for YOU to shine. We have room to add 9 new carriers and 7 new MGAs to our Cyber and ID Theft programs. Make 2025 your best year yet!

😂Insurance Meme of the Week

🤔Is this covered?

Do you have a funny insurance meme you would like to share? Send it over to us and we will gladly share it in our next newsletter. You will get the credit, of course 😉.

From the bottom of my heart, THANK YOU for being part of our Fun Family.

Please make sure you sure you forward and share our newsletter with all your insurance friends and colleagues so they can sign up below.

I appreciate you,