a team of empowered insurance agents

Insurance is a must-have product in the modern times we find ourselves in. It is risky to drive an uninsured car and live in an uninsured house. It is borderline irresponsible to run a business that is not insured. As an insurance agency owner, you must convince potential customers of these facts. You need to highlight the consequences of not having insurance and list the ways insurance products will save your customers money in the long run.

Without a strong and successful insurance sales team, you won’t be able to do this effectively. Many agencies have a tough time holding on to good sales agents for various reasons. If you struggle to retain your sales staff, the following tips will help you build and manage a successful team for many years.


Defining Your Team Structure

Once you have the recruiting part out of the way, you must define a sales team structure that aligns with your target market and business goals. This means deciding on the number of sales agents, depending on your salary budget. You should also state the responsibilities of each chosen team member. Assign sales rep duties, account manager tasks, and team leader roles.

To get this process right, you should look for candidates that fit your agency’s vision. All sales staff candidates must have strong sales experience and a successful track record. They must be able to communicate with people from all walks of life and have an unmatched knowledge of insurance products and the overall industry.

More importantly, they must have a passion for helping people, not just selling products to them. And they should be able to work individually and in a team. When you’ve assembled the right group of sales agents, onboard them as quickly as possible by training them in your products, processes, and software systems.


Set Goals and Targets

Your sales team’s salary structures must be enticing enough to get everyone motivated about reaching their targets. At this point, you want to introduce SMART goals, if you haven’t done so already:

  • Specific – Define the purpose of each goal
  • Measurable – Track the progress of all goals
  • Attainable – Set challenging but not impossible goals
  • Relevant – Ensure your goals align with the overall agency objectives.
  • Time-bound – Set achievable deadlines for all goals

These SMART goals will evolve as your agency and the insurance industry change. Review and adjust them over time or as needed to ensure they remain relevant.


Provide Necessary Training and Development

Because the insurance industry is constantly changing, you should also ensure that your team receives ongoing training and development opportunities. They must stay on top of industry trends and sales techniques to deliver their best work.

You can equip them with the knowledge and skills they need to succeed through formal training or mentorship programs, webinars and online courses, and one-on-one coaching.


Build a Positive Team Culture

If your sales agents become frustrated and unhappy with their working conditions and the demands they need to deal with, they will leave. The only way for your agency to succeed in a competitive industry is to retain top talent by creating a positive and supportive team culture. If you create a working environment where each employee feels valued and respected, you can empower your agents to work harder to reach their goals.

Open several communication channels and set up feedback and recognition meetings. Plan team-building activities and social events to give your agents a well-deserved break at least once a quarter. Be flexible in your work scheduling to allow for a better work-life balance. Consider allowing employees to work remotely if it doesn’t disrupt business operations or affect overall productivity.


Use All Available Technology At Your Agency’s Disposal

If you want a happy and thriving sales team, you must use all the technology available to you. If you don’t yet have a CRM system or insurance agency management system, now is the time to get one. You need to invest in sales automation tools and lead generation software to make it easier for your team to build customer relationships and continue to reach their targets. Moreover, you need analytics and reporting software to track sales performance and identify areas requiring improvement.


Always Celebrate Successes

Your sales agents want to feel like their efforts are appreciated. Recognize and celebrate their achievements to keep them motivated to exceed expectations. Some methods that work incredibly well are team and individual awards, public recognition, and financial incentives like bonuses and increases.

Adapt To Change And Your Agency Will Go From Strength to Strength

Chances are your competition is following some, if not all, of these strategies. Your agency must adapt its sales approach and process to remain competitive. This includes being open to trying new technology as it becomes available and jumping on trends when they arise.

By following these steps and getting ahead of challenges, you can create and manage a high-performance team that drives revenue and helps your agency retain clients.