Top-level insurance agents have an obsession for solving their clients’ problems. Couple this with a strong discipline on your part, and that strong discipline should create positive habits. Oh, and wait for it, there are 12 more deals in the pipeline. This month we’ve been discussing selling insurance. 1. Today we’re going to discuss some of the secrets to success to keep in mind whether you’re starting your sales career or just looking to grow. I front-door cold-called businesses for two years to get my agency off the ground, and that is how I succeeded—by taking on the hard tasks with gusto and knowing that one day I wouldn't have to hustle quite so hard anymore. Stay focused on your clients. Bruce Whitfield sits down with a man who has spent a lifetime selling insurance in the United Kingdom. Schedule 2 hours, twice a week, for commercial marketing. So he grins and waits. "Networked is the best choice for an agent looking to succeed in the insurance … This is my story of how I was called into insurance… By clicking "Get Started", I consent by electronic signature to being contacted by EverQuote, including by automatic telephone dialing and/or an artificial or prerecorded voice (including SMS and MMS - charges may apply), regarding EverQuote for Agents, even if my phone number is listed on a Do Not Call Registry. The latter may be fast and exciting and the former slow and sleepy; however, the fact remains that consumers and businesses need insurance, and its not nearly as simple as most people think. They possess other innate, transferable qualities that make them quick learners and successful leaders. “They are more expensive but they are worth it.” He’s sold 32 policies from live-transfer lead calls in eight months. Get on the same level as them and they will appreciate it. Dennis is currently the Marketing Manager for EverQuote's Agency business. The Secrets to Success for Insurance Agents. I'm a total introvert. 9 Things I Wish I'd Known As A Young Insurance Agent. The successful insurance agents are the ones who are disciplined enough to take action even when they don’t want to. After five years, though, I took a deep breath and decided to go independent. In order to be successful, insurance agents need to have several personality traits that allow one to thrive in … Learn the industry and the current positions of competitors, and then leverage that information in your favor. Make sure your sales process will result in more bound policies. Resources Big 'I' Member Services IIABA Membership Agency Nation. Agent Success Stories Live Insurance Shopper Feed . They pay attention to the present moment and present tasks. After a phone call, he was granted an interview three hours away from home, but he took advantage and drove down even though he had zero sales experience on his resume. Call them 2 months ahead of time to start the quoting business. No one’s working as hard as you are when you run an agency,” he says, explaining that he’s selling more than ever with SmartFinancial’s help and only one part-time assistant (not counting his dad). He’s happy, having just closed a deal on a church with an adjoining school and nursery. Early on, the idea of networking made my palms sweat, but I joined the local chapter of the National Association of Health Underwriters (NAHU) anyway because I thought I could learn something from my fellow agents You will be able to best communicate to them the coverage highlights because you are speaking as a "real" person, not like a lawyer talking over their heads. 4. After Duree began working with SmartFinancial in July 2018, he’s been doing so well that he’s sticking with commercial lines. Nine out of 10 new agents won’t last past their first year because they fail to do one or the other (invest time or money). Effective insurance agents keep their clients top of mind. Duree and SmartFinancial have been partners ever since. Danielle Kunkle, Founder, Boomer Benefits. Jim has been an insurance agent for over 30 years. The life insurance agent always has a positive attitude and can understand his client’s needs. I wanted to be more of use to people.” Straith remembered his flirtation with health and life insurance, but over the course of four years, his license had lapsed. I realize that this headline might not be sexy, but building an insurance agency is the opposite of working for a dot-com company. Sometimes you just have to go with your gut feeling on things as a business owner. 3. Early on, the idea of networking made my palms sweat, but I joined the local chapter of the National Association of Health Underwriters (NAHU) anyway because I thought I could learn something from my fellow agents. 8. 3. Dig into the minds of some of the most successful insurance professionals to learn their priceless secrets. 5. John Holloway, Co-founder and Agent at No Exam. 5. Your INA support person will assist in providing all the sales material and illustrations you need to make the sale. If you’re a successful agent we’d love to hear your story. Currently, Duree only markets his commercial insurance but continues to sell all lines. You are your own boss and have multiple distractions hitting you every day from every direction. Taking better care of those first 100 people probably would have grown my agency faster. Switching from Captive to Independent Insurance Agent: A Success Story . He started out as a Farmers agent working with his father in Kansas City, Mo. Don't hire someone to use SmartFinancial to get leads for you. Within a few weeks of becoming a member, I volunteered to join the board, and six years later I became the chapter president and then went on to sit on the state board for two years as the magazine editor. INA is dedicated to your success!” Jill S., WI “As an independent agent, you typically exchange company support and camaraderie for the freedom that comes with not being a captive agent. 6. Jason Duree is the son of a lifelong health and life insurance agent who now works for him selling group health insurance policies to businesses. But I eventually became bored and restless. Do people recommend you because you got them the lowest cost product? Always put your client’s needs first. What are the key features of that business? For the next four years I was a successful day trader. It does. Why wouldn’t he be happy with a $90,000 policy and a $9,000 commission? Learn the secrets from some of the most successful insurance professionals. They’re on-call and ready to go when their products and services are needed most. This one move—joining NAHU—resulted in literally hundreds of referrals to my agency over the last 13 years, all because I swallowed my fear and put myself out there. Owning an agency is a slow path to wealth—and that’s how it should be. I also understand that my agreement to be contacted is not a condition of purchasing any goods or services, and that I may call (844) 707-8800 to speak with someone about EverQuote for Agents. Our representatives are standing by to help you succeed. hbspt.cta._relativeUrls=true;hbspt.cta.load(2287971, '4a7f7090-c283-4353-aa7d-d189936556ce', {}); Topics: He was thrilled with the position, but it wasn’t easy starting out. — William James. Put yourself in their shoes. He used to have other producers working for him, but he quickly learned that they weren’t making him much money. Read one agent's move from captive agency into a $5M independent agency with the market access and clout of a $200M agency. When was the last time you checked your email? From the moment your agency opens for business, you’ll be inundated with hundreds of things to do, people to meet, and tasks to check off your list. People absolutely buy insurance coverage online and by phone just like they buy everything else these days. Your job is to be the insurance expert and keep them out of trouble and stay in business while making money. Be patient, stay dedicated, and play the long game. Volunteer in the community, take part in community programs, and just give back in general. No, sales does not … Instead of giving up, he hit the summer streets in a t-shirt and shorts and began knocking on doors, giving free auto and home insurance quotes. Understand the world of sales before you open your doors. I was very confident, but I found out quickly there was a learning curve and plenty to master. It was a Farmers ad that sold Jason on the opportunity to make a lot of money in 2012. 2. In order to be a successful insurance agent over the long haul, you have to accept your role as a salesperson and you need to be good at selling. Doing it yourself will drastically improve your ROI. There are songs about it, movies about it, and today, even a blog post about it. While many insurance agents waste money on expensive bus bench advertisements, post card mailing campaigns, door knocking, and cold calling, successful insurance agents buy insurance … He then broke records at Farmers for selling auto, home, and renters insurance. 2. Be prepared to devote time – beyond the long days and late nights – to finding your way and bettering yourself professionally. Call me crazy. 7 Secrets behind every successful insurance agent. I spent a couple years running appointments like that before I came to the conclusion that this could absolutely be done over the phone, even in the senior market, which is my specialty. John emphasized the importance for an insurance producer to maintain balance in their life. How To Close 16% Of Insurance Leads (Tips From Agent Mark Jameson), Best Practices For Hiring In The Insurance Industry (Plus A Free Insurance Job Description Template), Building a new agency? If you know a young insurance salesperson please pass this article along to them. 15. This strategy led to a ton of referrals from prospects and other agents alike. I could never have imagined what a critical step this was for my agency. When asked what the secret to his success is, Duree says he just looks at the numbers closely. ; Use powerful stories and sales ideas to instantly close a lot of sales. 16. Support Sign in to Account Help Topics New Features Customer Support. There were several “good old boys” in the industry who told me it would never fly, but today we sell policies in 47 states by phone every day. “Everyone had cell phones I realized,” he said. Get proven, practical steps you can implement today in, Insurance Agency Automation: Top 7 Best Practices, Forget Insurance Sales Pitch Examples—Try These Tactics Instead, 5 Best Insurance Sales Closing Techniques [DATA], Learn How One Product Helped This Captive Agent Save His Business By Increasing Monthly Sales 4X, The Insurance Quote Email Template Used by a Lifetime President's Club Member [+ Free Email Templates], Join EverQuote for BIND2020 – the First Virtual Conference for Insurance Agents, The Best Interview Questions To Ask When Hiring Insurance Producers [+ Free 30 Interview Questions Download]. Find your own voice and your own process. Myth #1: Only Candidates with an Insurance Background are Successful The truth is, most of our agents don’t have a background in insurance sales. Don’t underestimate the power of networking. You need to put in either time or money. “I realized my father’s life insurance afforded me to open an e-trading account. Think outside the box early and often. I met some of my very best industry friends through this organization, and I can't say enough about how networking with fellow insurance peers will reduce your learning curve. Anyone can buy insurance online. When talking to the customer, explain the policies to them the way you yourself interpret information. Nobody grows up dreaming of becoming an insurance agent. Successful agents know that selling insurance is more than just a job – it’s a lifestyle. Related: How to find your voice as an insurance agent. It's absolutely vital. Look the part. Many senior life insurance agents advised that to be successful, the agents need to have the mind-set that they are business owners. “They just close on their own time,” he explains. This allowed me to build great relationships with other agents, and customers also appreciated my honesty—while my solution wasn't the best fit for them, I at least provided them a solution to get the best rate possible. You have to understand what you're selling and the benefits, and how to read people's needs. My best advice to younger agents is to use your creativity to create the customer experience you believe will change the world. Shared Vs. 4. Taking an inbound lead and turning it into a bound policy is an art. “People thought I was crazy,” he says. I accidentally became the guy for many younger people in the area looking to save money on their P&C needs. To help young insurance salespeople be successful and encourage hiring agents to consider young and inexperienced applicants, pop over to this site to find an agency who is a role model for others. Call your commercial leads, and learn when they renew. While there aren’t a lot of requirements that need to be met before taking the test and getting licensed as an insurance agent in your state, being a successful insurance agent can be a different story. Introducing EverQuote’s first virtual conference, BIND2020! Scott W. Johnson, Marindependent Insurance Services LLCFollow Scott on LinkedIn. I had built a nice business – and was earning a good living – as a captive insurance agent. I think of it this way: Do people recommend you because you got them the lowest cost product? I wish I would have started thinking outside the box earlier in my career. “Start with your Brand. 1. New insurance agents understandably feel overwhelmed as they begin navigating the complex world of insurance, sales, customer service and even agency management. Joining the Sales World. Then, create yourself a monthly file of businesses that renew in each month (x-dates). “I love the live transfers,” he says. Eventually, I changed my model to an entirely digital platform and began selling policies on the internet. Danielle Kunkle, Founder, BoomerBenefits.com. Focus on the key coverage of that specific business type because everything else is just fluff, and the customer knows it. There are a lot of resources to help you learn how to make a six figure residual income selling insurance, but none of those will do anything if you’re mind isn’t open to change or advice from others. They take the time to learn about the people sitting across the table—needs, wants, desires, problems, and goals. Without a strong internal drive, your chances of success will be marginal at best. You have to be patient, stay dedicated, and play the long game—nothing happens overnight. Here are some essential tips for success as an insurance broker or insurance agent: Focus On Good Salesmanship. Featured, Or do people recommend you because you go above and beyond for them? Exclusive Auto Insurance Leads For Agents: What’s the difference. They do not allow distractions to become excuses for low productivity. I came into insurance as a second-generation agent, and my father had a lot of success. Chris Paradiso from Paradiso Insurance is a successful insurance agency owner. When selling commercial insurance and dealing with business owners, explain to them that you are part of "their" team. Luke Kinton, Director of Marketing and Communications at True Blue Life Insurance. He even went on to get more certificates and sold health and life insurance, even though it’s unusual for an agent to sell all lines of insurance. If a life insurance agent can understand customers demand then he will be successful. A life insurance agent is a person who has great communication skills, products knowledge, and good customer’s services. 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