It is almost the end of another year, which means you and your sales agents are probably working towards closing out 2023 on a positive note. It is the best time to start planning for the year ahead, too. Before the festivities really ramp up, you should invest some...

The insurance industry has undergone several transformations over the past few years, and it’s not over yet. As digital technology and customer expectations evolve, more insurance agencies realize the need to invest in the right talent to stay competitive. In 2023,...

Running an insurance agency means building an undeniably strong book of business. The total of your underwritten insurance accounts is directly related to the success of your agency. And, at some point, you may want to consider integrating a new book of business. As...

The insurance industry is highly regulated, as it should be, and it plays a vital role in providing financial security to businesses and individuals. However, despite the regulations and laws, it is not uncommon for an insurance carrier to pull out of certain states...

The festive season distracts just about everyone. You will find it no different in your insurance agency. Your employees may become more stressed while struggling to focus on work-related tasks. However, all is not lost. With the following out-of-the-box approaches,...

The agency-carrier relationship is as important as the agency-customer relationship. They are mutually beneficial and must be improved and maintained to ensure your insurance agency's success. Aside from getting the technical aspects in order (licenses, contracts, and...

The ongoing evolution of the insurance industry means that the old way of doing things no longer works. Products have changed along with client preferences and expectations. You may also have noticed that your current customer base starkly contrasts with what it was...

Customer retention lies at the core of any successful agency. Think about it this way: if you had to continuously gain new customers and convince them to buy your insurance products, your bottom line would soon suffer. On the other hand, existing customers who renew...

After the unexpected obstacle that was the COVID-19 pandemic, there is another threat on the horizon in the insurance industry. The growing talent shortage makes it difficult for insurance agency owners to grow their brands. Even though the industry has fared...

The most identifiable challenge in the insurance industry is its continuous evolution. This makes it hard to stay ahead of the curve and keep customers and carriers happy. From managing client data to ensuring compliance, the demands on your agency will only keep...

It’s not always easy for insurance agencies to stay compliant with industry regulations. Not only is there a barrage of rules to follow, but insurance regulations seem to evolve continuously. However, you won’t be able to plead ignorance if you don't stick to the...

A seamless claims experience with your agency is no longer a “nice to have” but a necessity. Your clients expect efficiency from your business, especially when they need to file a claim. The best way to cater to a client’s expectations is to help your agents embrace a...

If you’re not effectively monitoring your sales team’s performance, it’s time to start doing so. The better your agents perform, the more successful your agency will become. As such, tracking and enhancing your agents’ progress is critical to the future of your...

The art of listening is essential to a healthy relationship between an insurance agent and a client. The agents must listen to a client’s concerns and queries, as the client listens to the information provided by the agent. The agent-client relationship forms the...

Have you thought about who might take over your insurance agency when you decide to retire? Or maybe you want to start another business venture but don’t want to close your agency. If you’re starting to think in this direction, it’s time to implement succession...

We’re past the halfway mark of 2023, and with the advent of AI and other incredible technologies, customer expectations in all industries continue to evolve rapidly. As an insurance agency, you may have noticed that your customers no longer want to engage with stacks...

Consultative, or needs-based, selling focuses on building positive customer relationships by providing a product that solves their problems. This sales approach relies on four simple principles based on psychology:  Ask questions Listen to the answers Provide a...

The insurance world can't work if agencies and brokers do not have a trusted and collaborative relationship with insurance carriers and underwriters. You may have encountered issues in your agency with carriers or underwriters due to a lack of communication or simply...

Let’s face it, selling insurance is not easy. An insurance policy is not a tangible, instantly gratifying product. For instance, it takes many years for a retirement annuity to pay out. Or a customer may pay for vehicle insurance and never (hopefully) need to claim....

As an insurance agency, you can only sell a product to someone when you know their insurance requirements. The same goes for your community. You can only serve the members of your community if you know what they need. If you’re not already doing it, you should start...

For insurance agency owners, the concept of insurance policies is easy to understand. They know their products like the back of their hands and can recommend insurance solutions without much effort. It’s not so easy for customers with insurance needs but no real...

Finding success with your insurance agency relies on more than just initial client interactions. While securing a customer’s interest is vital, the follow-up often makes all the difference. Keep reading to discover how something as simple as a follow-up call can help...

Trust matters in any relationship and is a deciding factor for clients when choosing an insurance provider. To build a lasting relationship with your clients, you must establish an unwavering foundation of trust in your insurance agency. Doing this will give you a...

Agents must master the art of persuasion if they want to reach and exceed their targets and excel in the insurance industry. Psychological selling isn’t about tricking customers into buying products they don’t need. It is about understanding the reason behind consumer...

The insurance industry will always need new and innovative ideas and processes to keep up with its competitors. Creating a culture of collaboration in your agency will allow your sales agents to drive creative brainstorming sessions and find solutions to ongoing...

Sales are essential to the success of your insurance agency. Whether you have a small startup or a well-established agency, having realistic sales goals helps your agents stay focused, motivated, and on track to meet their objectives. The following step-by-step...

Leadership forms the core of a successful business. Leaders are in charge of inspiring employees and maintaining morale. They solve problems and get results. Without effective leadership, a company would be directionless and without vision. Poor leadership leads to a...

Making more money with renewals depends on your customer relationships. If you build long-lasting relationships, you will discover that renewals are an invaluable source of income. This is why it’s imperative that you don’t miss renewals as they come up. One of the...

While some insurance agencies still accept cash payments, yours shouldn’t. Not only do cash payments pose a risk to your business, but you can lose money by continuing to receive cash. Here are some of the most important reasons your insurance agency should stop...

Job burnout is a real issue that has a huge impact on individuals and companies. In highly competitive environments like the insurance industry, it is particularly important for agency owners and managers to know the signs. Preventing burnout is key to maintaining a...

It makes sense for insurance agencies to embrace technology, as you can use it to enhance your productivity, customer satisfaction, and nearly every other aspect of your agency. But you must use digital tools carefully. You don’t want to lose that consultative,...

No one likes it when insurance rates increase. Your clients are worried about how the higher rates will fit into their budgets. Meanwhile, you are concerned that they will look for another insurance agency that offers lower rates. But with the right strategies, you...

With the rise of InsurTech (insurance technology) companies, many people have started to wonder if insurance agents will become obsolete. We don’t think this is a concern, as insurance agents have plenty to offer that you can’t get from direct carriers or InsurTech....

When hiring insurance agents for your agency, you will have to decide whether to set them up as employees or independent contractors. Whatever setup you choose will affect how you pay them, the tax forms to fill out, and the benefits and other resources you must...

Every insurance agency should have an employee handbook, which will clarify matters for both you and your employees. Take a closer look at some of the most important reasons to create a handbook for your insurance agency. It Outlines Responsibilities and Expectations...

Managing insurance agents is just one of many challenges you face when running an insurance agency, but it is crucial. After all, your insurance agents are responsible for selling your policies and are the people your clients most closely interact with. As such, you...

With the new year approaching, now is the time to make sure your insurance agency is organized and ready to handle what 2023 throws your way. With the right preparation, you can start the new year off right and set yourself up for success. You don’t have to follow all...

Renewals are a crucial part of running an insurance agency. After all, retaining an existing client is more cost-effective than attracting a new one. You likely already have some ideas of how to boost renewals, but there is always room for improvement. Keep the...