THANK YOU!!

Steve and Rick-

I would like to thank you for the amazing opportunity you gave me working with SilverSide Insurance.  Both of you taught me so much, yet I feel like I still have so much to learn.  I enjoyed these past few months immensely.  I was able to learn so much about the insurance, annuity, and financial services field.  This internship also helped reaffirm what I wish to do for my career once I graduate! I enjoyed working with all of our agents and clients as well.  It was great to have a good laugh and talk business with them at the same time.

You two were extremely flexible with my schedule and took the time to work on projects for my class  blog which I appreciated so much as well! I learned so much about the business outside of SilverSide as well when we talked about your work experience.  Both of you have seen the ups and downs of the industry and have adapted to keep the business afloat.  This is an invaluable knowledge of information I took away from both of you on how to adapt to the ever changing business world.

I wish you both the best and will keep in touch!  I hope business continues to be great and SilverSide continues to acquire new agents and new business!

Best Regards,

Brady Madden

The Take-Away of SilverSide

These past few months, I have taken in so much knowledge, information, and training from my internship with SilverSide Insurance.  I never knew there were so many dynamics and variables in how the business development field operates.  I also gained a better understanding of how the the financial industry and stock market work.  It is amazing how interchangeable each area of business is and how they interact with each other.

The most important things I have learned are better communication skills and how to apply them both over the phone and in person and how to better multi-task and adapt to having multiple projects going on at once.  This internship also reaffirmed my desire to work in the business development field.  I am sad my internship has come to an end, but I look forward to what the future holds, especially when I begin to apply for full time positions.

In terms of my first post and what I expected to take away, I think I met all of my expectations of what I wanted to take away from this.  It has sharpened my business, leadership, and communication skills and has prepared me for a full time career when I graduate in May.

Organizational Strengths

What are the strengths of your organization? If you were in charge of a similar organization, are there any things you would do differently?

In terms of strengths of this organization, I believe the communication skills and people skills my supervisors and co-workers have make a huge difference.  The entire scope of this business is communicating with agents, clients, and vendors.  This involves a lot of face to face meetings as well as conversations over the phone.  I think flexibility and the ability to manage multiple products at once goes a long way to ensuring the success of the organization.  

If I was in charge of a similar organization, the one thing I would change is less phone calls and more face to face meetings with all these clients.  While a phone meeting is convenient, it is often difficult in my opinion to convey the same message and understand the necessary take away and action items for it.  I also feel like communicating with people directly is more effective than trying to convey the message over the phone.  I also think this is much more valuable with clients as it shows them you are taking the time to personally meet with them and help ensure their success!

P.S- I tried several times to change the font size to normal, however, it keeps defaulting to smallest so I apologize for the small text.

Career Services Write Up

Last week, I was able to attend a leadership development seminar for campus leaders.  I learned so many great tools during this workshop and most importantly for me, how to delegate out tasks better. I sometimes get overwhelmed with the amount of things to do and end up doing them myself thinking it will take longer to instruct and guide someone else on how to do it. I learned that taking the time to teach and mentor early on will help employees learn and adapt to doing the task on their own and it will flow much better down the line.  I also learned how important praising employees for their good work and being constructive when helping them fix something they did wrong.  The ratio is 4 praises to every 1 constructive criticism or feedback on an issue.  From the workshops I have attended, I learned there are so many components of being a leader or manager than just the title or responsibility itself.  I definitely think people should continually attend these seminars on learning how to be a better leader and to continually improve their skills.

Free Write- What's with the weather?

Why has it been so cold here lately? First and foremost let me say that I do not have a problem with cold weather.  I have lived in many different places were the average temp in the winter is in the 20's-30's.  Yet, for some reason, 40-50 degrees here feels exactly like those lower and much colder temps. It is like a cold that chills your entire inside down here.  I have felt colder this week than when I am up in the mountains snowboarding.  It does not help either that I do not buy warm clothes anymore thinking that living in Phoenix one would not need them. I must admit that this cooler weather does make hiking a much more pleasurable activity when it is not 90-110 degrees out! Hope everyone else is keeping warm and ready for some time off next week.

Free Write - Costco

So this is going to be my very random free write.  I was just in Costco on Monday and was shocked by how busy it was.  I arrived right as the store opened and there was already a line at the gas station and car wash.  I followed a wave of people into the store and within minutes, all of the aisles were packed full of people.  An hour later after wander around the store looking at all the new items with no exit in site (sound familiar..almost like a Vegas casino) I make my way to the front of the store to get in line.  There were so many people in line with full carts.  I felt bad for the guy behind me who was buying one item.  After nearly 15 minutes of waiting in line, I finally was able to check out. After I left the store I realized I needed gas as well. Another 15 minutes later and I was done at the gas station.  When it was all said and done, I had spent 2 hours at Costco that morning. Amazing that 2 hours was gone just like that! Yet, I will fall right back into the same trap next week..

Public Service or Urban Governance?

I would say my internship demonstrates more of a public service than an urban governance.  While it deals more with the private sector, ultimately what we are doing is promoting and informing people about investment opportunities to better their retirement and future through annuities and life insurance. The public service is teaching people to be wise with their money and invest it instead of spending it.  In doing so, we can help improve the economy and the financial well being of these people. This internship has been interesting in the sense that it has been a mix of both public and private sector practices.

Free Write- Starbucks Cup

So I cannot say I am fully informed on this issue, thus I cannot actively debate it.  However from what I do know, I think this whole issue over the red Starbucks cups has definitely got out of hand.  I think there are better things to be concerned and debate about than a cup a coffee company uses during their winter season.  I think people are also overlooking the fact that it is associated with the Product RED charity and that the proceeds go to AIDS research.  I would also say they are not specific to a certain holiday as they are just solid red.  This is my take from the outside looking in.  Like I said, I do not care enough about this issue or think it is relevant enough to warrant the time investment.

Free Write-Snowboarding

As much as I hate the snow and cold weather, I cannot wait until Arizona Snowbowl opens next Friday! I am an avid snowboarder and have been since I was 6 years old. When I am up on the mountain, it is nice to be disconnected from my phone, email, etc.  It is very peaceful and calm up there on a clear day and the perfect way to relax, unwind, and have some fun.  I am also headed up to Salt Lake City the second weekend of December so hopefully the will have some fresh powder and good conditions up there.

Free Write-Semester Almost Over

I cannot believe how fast this semester has gone by.  It seems like just yesterday we started school this semester.  I am very much looking forward to winter break and getting away for a bit.  I know this is exactly what everyone says, but looking back on my time here at ASU, I cannot believe how fast these 4 years have gone by.  As much as I am looking forward to being done with my undergraduate experience, I am also going to miss all the good times I had here.  I know for sure I will be moving away next semester after I graduate, so I am going to enjoy the time left here in Arizona.  Hope everyone else is enjoying wrapping up the semester!

Leadership

Leadership plays a huge role in my internship as I have to take the initiative with agents to contract them, inform them about the products, assist them with trainings, and working to make sure everyone understands the product and the premiums. Outside of my internship, I have to demonstrate leadership everyday with the organizations I run at ASU.  Leadership and learning leadership skills area huge part of my life.  

My supervisor always answers any and every question I have, mentors me on how to be more personable with the agents, allows me to take my own initiatives and try out new practices, and offers me flexibility in my schedule.  It is a truly rewarding experience working here!

Free Write- Graduation and Grad School

Between the last batch and this one, I finally finished up my application for graduation.  It is surreal that I am almost done with school, undergrad at least.  Back during freshmen year, I dreaded school.  I felt like it was going to never end and I would be stuck here for a long time.  Looking back on that now, I cannot believe how truly fast it went by.  I know a lot of people say that, and now I fully understand what they mean by it.  I have enjoyed my time immensely here at ASU, but I am definitely ready for a new chapter in life.  Now I have to make the decision regarding where I will be attending grad school, although a little time off is definitely necessary before I jump into that!

Supervisor Interview- Steve Insalaco- General Manager

I had the opportunity to sit down with my supervisor, Steve Insalaco, this week and ask him a few questions regarding his role with Silverside Insurance.

Steve's main job responsibilities as General Manager include:
  -Oversee all daily operations
  -Recruiting agents and training them
  -Communicating with insurance carriers
  -All hiring and training for Silverside
  -Coordinating all departments within Silverside

Career Choice:

Steve had always worked in advertising and marketing.  Steve worked in and out of many different insurance fields.  He did not want to be a personal insurance agent and have to meet with clients at their home. Felt he worked better by being knowledgeable about the products and marketing them to the agents.

He served as a health agent for a while and due to a bad experience, knew it was time to make the switch.

Training and Education:

Some things that are necessary are life and health insurance licenses, sales training (including specialized training), and management classes are necessary as well.  While you do not need a degree for sales, having a degree allows for a better understanding of the field, best practices, and allows for promotion.

Field Advice:

-Have the desire to know multiple products
-Be able to communicate effectively
-Listening skills and knowing how to formulate answers

New Trends:

A new trend in the insurance field is many agents are getting out of the health insurance industry due to Obamacare.  It is much more difficult to draw up new business with all the changes in the healthcare system.

Career Services- Post Undergrad/Pre-Graduate Program Seminar

For my career services assignment, I attended an online video conference with a graduate programs advisor at both NAU and USCD.  I am exploring some options for a graduate program right now because I believe having a masters degree will be highly beneficial in terms of advancement in the business/business development field.  I definitely want to pursue a MBA with an emphasis in either Marketing or Finance.

In terms of when, I am debating starting after I finish my undergrad degree or waiting a year or two and getting some work experience in first.  A lot of MBA programs desire a few years of work experience before pursuing a MBA.  I contemplated law school for a while as well, but ultimately feel as though business is the best fit for me.  I have been fortunate with my undergrad that it has been a mix of public policy and business.  It has opened a lot of opportunities to check out both private and public industries and make the decision on what I wanted to do after I graduate.

-Brady

Free Write- Oct 8th- End of the Week

Good Evening All,

Well even though this has been a short week for me, it was extremely busy playing catch up from last week and preparing to be gone for fall break.  While I had intended to blog last night, my fraternity brother was taking out the trash at his apartment and managed to cut his leg on a sharp piece of glass that was sticking out of the bag.  Needless to say and two hours later at the walk in clinic, he was all stitched up and good to go.  This just goes to show how unexpected things in life usually are and they come at the last minute.  I am looking forward to the long weekend and getting away from work and school for a bit!

Hope you all have some fun plans for the weekend and got caught up on everything you needed to do!

-Brady

Free Write- October 8th- Stress Management

Happy Almost Weekend-

As much as I enjoy my internship and working, I have also learned it is also important to invest time in self care and make time for fun with friends and family.  I am leaving early tomorrow for a weekend in California with my roommates, who need a break from work and school as well.  As the Executive Director for the Well Devil Coalition at ASU, I encourage students to use some of our wellness resources such as Devil X classes, massages, healthy eating tips, and exercise, whether it is walking, running, lifting weights, or yoga.  This helps manage stress and deal with all the chaos in your life.  I also think this is a good weekend for people to catch up on sleep ( I know I will be catching up on this come Monday.)

I hope all of you enjoy your fall break and come back well rested!

Free Write-September 21st- Life Insurance

Life Insurance:

Following my last post, I briefly discussed some information regarding annuities, what they are, and how they work.  My focus of this post is to briefly discuss the same topics but with life insurance.

A life insurance policy insures that at the time of death of the policy holder's beneficiaries are paid out form the funds that were invested in the policy.  There is also two different types of life insurance: term life and permanent life.

Permanent Life is a policy that can last an entire lifetime while gaining cash value and not being subject to a market value assessment (MVA)- aka taxes.  <----Yes this is legal.  This is something you would want to discuss with your financial planner or insurance agent for more information.

Term Life can be applied for a "term" such as 10, 15, or 20 years.  This still carries the same affordable protection, but allows for more flexibility with accessing/withdrawing the funds.  This plan relies heavily on activities of daily living (ADL's) to determine eligibility.

There usually is no premium limit on life insurance.  Smaller companies will require home office approval on anything over $750,000, but most cases are approved.

As this is a complicated subject with an array of policies and options! Throughout this course, I will break down the different options in more detail!


Have a great day!

-Brady

Free Write Sept. 21st- Annuities

Why do people purchase annuities?  What is the benefit?

Annuities are financial products for individuals seeking secure and guaranteed retirement income. 

Annuities usually have penalties on withdrawing money from them, so its recommended people more stable in their careers and finances purchase them.  On most annuities, the principal is guaranteed, so you do not have to worry about losing your initial investment.  Annuities pay out a cash sum based on the given cash flow schedule associated with that annuity. In the case one needs to withdraw money from the annuity, they are subject to the surrender schedule (a chart based on the percentage penalty one must pay if withdrawing the funds early) and the schedule usually goes about 10 years before the penalty fee is 0. 

Most carriers will allow policies as low as $2000 and up to $200,000.  If one is looking to invest a larger sum of money than this, they usually would invest in a life insurance policy which I will discuss in my next post! Have a great day everyone!

-Brady

A Day In The Life

Business Development Intern: A day in the life of a busy student

A typical day for me is coming into work around 8 or 10 (depending on the day) and usually starts with sharing stories of the weekend and the fun we got into outside of work hours.  It is a casual, yet professional environment which makes it comfortable working with everyone.  

After we get this first hour down, then we start going through emails and phone calls we may have missed while we were out of the office or in meetings.  A lot of this internship requires communication with co-workers, agents, and the carrier companies we work with.  During this time, we usually research some new products and make sure we are up to date and as knowledgable as we can be with the current products we are selling.

We have been working on email marketing campaigns to bring in some new agents as well.  This involves us calling and following up with their email responses to go over the products we offer and how they can use them to write new business and work with their existing clients. We are also in the middle of a huge product update so we have been studying up and rolling out the updates and presentations to our current agents.  

We stay very busy throughout the entire day and the 5 hour shift seems to fly by.  There are a lot of moving parts to some of the stuff we do, so it pays off being able to multi-task and stay on point. Some people may find this boring, but I am loving this internship and glad I found it! 

-Brady

SilverSide Insurance Marketing

Where I am working and what I will be doing

Hope everyone is enjoying their weekend!

I wanted to introduce the company I am interning for, SilverSide Insurance Marketing.  SilverSide works to contract carriers for life insurance and annuities.  We then market these products to agents and financial advisors who sell the product for them to use in their client services.

As a Business Development Intern, I will be working directly with the agents and the carriers.  On the carrier end, I will be marketing their product to our agents and keeping them informed with the latest trainings and requirements to keep them eligible to sell the product.  On the agent end, I will be assisting them with questions regarding the product, emailing and communicating with them about open cases, and assisting with finding the products that are the right fit for their clients.

I look forward to all the new skills I will learn from this internship and hopefully will make a career out of it.

-Brady

Introduction

Hello,

My name is Brady Madden and I am a senior studying Public Service and Public Policy (Business) at Arizona State University.  This semester I will be working for SilverSide Insurance Marketing as a Business Development Intern.  I have been very active in the ASU community most notable serving as the Executive Director of MU After Dark my junior year and as the Executive Director of the Well Devil Coalition this year.  I love being busy and active, but I am looking forward to graduating in May.  I plan to pursue a career in the Business Development or Human Resource field.  I look forward to the experience of my internship and interacting with my peers through PAF 484!


My 3 Goals are:

1.  Have a better understanding of maintaining clients and best practices in the private sector.
2.  Understand concepts of business development and retention.
3.  Interact and build better communication skills through networking with clients and agents.



Brady Madden 9/14/15