Things for Insurance agents to consider this year….or any year

1. If you work as part of a larger agency; Are you builiding your business or someone elses?
2. What is really a “fair” split on commissions?
3. Why am I more focused on buying leads instead of cultivating referrals?
4. What is the household and PIF growth I am looking for this year?
5. Would you settle for only one option anywhere else in your life?  Than why are you only working with one company?
6. What is the last marketing book I read?
7. Am I regularly reading about marketing concepts or insurance marketing concepts?
8. Are you a part of someone else’s perpetuation plan or do you have your own?
9. How are you dealing with the changing consumer?
10.  The agent/broker has lots of control they are not using.  What about you?
11. Do you still believe in rate increases?  Are they really “a necessary evil”  or part of the business….
12.Are you taking advice and listening to people who have done things before or just people who write/talk about it?
13. If you are paying for some sort of label/qualfication is it really valid?  Was it earned?
14. Why are you not averaging at least half if not one referral from every household you work with?
15. Issuing an insurance policy(ies) is not enough.  What else are you doing for your customer?
Will you be surfing the wave of change that has started or being washed away by it?

Are you for sale?

So it is apparent to most everyone that Mergers and Acquisitions are on the rise in the insurance world.  Soon enough they will have a MASSIVE impact on my piece of it; the independent broker channel.  I’m sure in some pockets it has already started.  Fact is the industry and the American public will be better off with less independent agencies.  Many existing brokers have not ” kept up with the times..” so to speak which reduces the overall customer experience, gives the insurance companies to much power(which most are not using wisely) , reduces the ease to entry into the business and creates where we are today; Non insurance people entering to take over.

Dont be perfect, just get better

Dear Big National Insurance company who I want to bring more business to;

We have had a nice relationship so far and I think we both like each other.  I’m confused though, some days it seems like you just don’t want my business.  Now I understand you won’t want everyone but I am still left disappointed.  See we know each other pretty well, I have a nice understanding of who you want insured but somewhere in there somethings not working.

It’s not you, it’s me?

Let’s be friends

So most of us have friends.  They come in all shapes and sizes.  You are closer with some more than others.  Some you hang out with more often.  Some are “on-line” friends or “work” friends but they all get the label friends.  They all on some level have a place in your world.

At the same turn, each of them needs or wants something from you.  Some need/want more than others.  At various times one or more of them may need a lot from you.  Over time some friends sort of increase in value(feelings) while others get less.  But they are  all still your friends.

Dear Insurance agent losing business to me;

I hope this finds you doing well.  It’s been a bit and I know things can be tough for some of us.  Safe to say it could be more challenging now than when you started in the business.   Honestly, if there was an insurance police this would be something they would want to know about, but since there is not I’ll just write this note to you.

Dear State Farm,

One thing that seems to continually bother me is when the wealthiest people and companies choose not to really do the world some good.  When they choose profits over people.  When they are genuinely in a position to change an industry for the better which will increase their profits and genuinely help the American public and they choose not to.  Baffled by it.

Why write today?

  • Because every time I receive another letter from you I wonder why another tree branch had to die.
  • Because I wonder why a huge company allows their product to be so diluted by advertising.

Not ready yet?

So in a previous post I dove into some things I thought were not so good about the shopping sites I tried to use.   Most of those comments were positioned from the consumer angle.  Yes, a little slanted since I have been helping people with insurance for eleven years but still from the consumer angle.  Well how about from the agent side

1. Its proven time and time again that the more policies a person/household has with an agent/company the more likely they are to stay.  That being said, quoting one line of business will not cut it.

Let’s go shopping

So it is time to take my own advice again.  With renewals for auto and home insurance pending I decided to do some shopping.  I’ve definitely written about what to do when your rate goes up but this time I did things  a little different.

START; Unfortunately my home is basically unmovable, two claims in less than five years.  So I look at what the rate will be without a multi-policy discount.  But wait, it gets a little worse.  I had a stretch in 2012 and early 2013 with three tickets.  Not good.  But, on a plus side, my wife’s two claims are now over five years old so they fall off.

Why I took your customer?

Several times a month a new person hires me and I am shocked.  See I know I am “good” and I know how to do a lot of things.  But there is a recurring theme, there is really no reason why this opportunity should exist.  There is no reason why this person should have called.  But then again there are quite a few.

The one that set me over is something like this, husband and wife with the same agent for 20+ years.  Husband and wife fit perfectly into dozens of companies; married, great credit, college degrees, home owners, clean records.  He is also a business owner and the paths fairly regularly cross with the agent who should appreciate his business.  Sounds familiar?