24 Ways to Grow Your Agency in 2024
Ready to kick it into gear in 2024? Here are 24 ways you can beat the hard market and grow your agency right from the start in the new year. Let’s dive in!
Review 2023’s Performance
It’s tough to make progress when you don’t know where you’re starting. These next few weeks, run your reports, review your data, and see what went well in 2023 and where you can improve.
Set Realistic Goals
Once you’ve reviewed your 2023 data, it’s time to set some realistic growth goals for 2024. I recommend starting with goals for your agency’s gross income (AGI) and policies in force (PIF).
Enroll in Smart Start™ Commercial Lines
If you’re frustrated with the hardening P&C market, it’s time to start writing commercial. Dip your toes into commercial lines with Smart Start™. We’ll help you learn how to identify good commercial risks and quote and bind coverage.
Write Two Smart Start™ Commercial Policies per Month
Once you’re enrolled in Smart Start™ Commercial, commit to writing at least two policies per month through the program.
That will add at least 24 commercial policies to your book of business in 2024.
Add One Express Markets™ Appointment per Quarter
The Express Markets™ carriers often have solutions for business you can’t write with standard carriers, and you earn 100 percent commission. Add at least one new Express Markets™ carrier at your agency per quarter in 2024.
Write One Policy per Month with Your Express Markets™ Carriers
Once you’ve added an Express Market™ carrier, start quoting through them until you write at least one policy per month with them.
Write One Life Policy per Month
Want to offer life insurance, but not sure where to start? Smart Choice® Life makes it easy to cross-sell life at your agency. Aim to write at least one new Life policy per month.
Enroll in Smart Start™ Personal Lines
2024 isn’t the time to give up on P&C. Enroll in Smart Start™ Personal lines for easy access to the nation’s top personal lines carriers without a direct appointment.
Write One Smart Start™ Personal Policy per Month
Once you’re enrolled, make a goal to write at least one policy per month through Smart Start™ Personal.
Earn Residual Income
Did you know you can earn up to $2,600 for every referral you send to your Smart Choice® state director? Get in touch with your director to learn about this easy way to earn residual income for your agency.
Invest in Leads at a Discount with EverQuote
Leads can get expensive, so take advantage of your Smart Choice® discount with EverQuote.
Access EZLynx® through Smart Choice® and Save
If you’re not using EZLynx® to quote business, use your Smart Choice® agent discount and save on your monthly subscription.
Renew Your E&O with a Discount
Save on your E&O policy with Smart Choice® by writing your own E&O policy with one of our Express Market carriers and receive 100% of the commissions.
Look for and Sponsor a Booth at Local Associations
Did you know that almost all professionals belong to and attend annual association meetings?
Chiropractors, Dentists, Property Managers, Restaurant Owners. Consider sponsoring a booth and getting involved in one to secure referrals and meet new professionals like yourself.
Network with a Local Health Insurance Agent
If you’re not interested in writing health or building a relationship with a local health insurance agent, you can pass business to and take advantage of any referrals they offer you in return.
Make Time for Training
If you’re not learning, you’re losing out.
Carve out time to invest in training for you and your team. This can include CE, attending your Smart Choice® business sessions, or enrolling in a sales development program.
Don’t Pay More than $30 for CE
Don’t pay more than $30 a year for CE with a CE Authority subscription through Smart Choice®.
Add a CSR
Spend more time on growing your agency by adding a Licensed CSR to help you service your current book of business and crossline sell.
Start a Referral Program
If you don’t ask your current clients for referrals, implement a referral program at your agency in 2024. Offer gift cards or promotional items in exchange for new referrals.
Join Your Local Chamber
If you’re looking to grow your commercial business this year, you need to be where your potential clients are, and that’s the local chamber.
Join a Networking Group
A networking group can help you uncover new personal, commercial, and life business.
Develop an Internet Lead Source
Look for and subscribe to at least one new Internet lead source to develop leads from the Internet.
Use a Formal Sales System to Crossline Sell and Follow up
Adopt a formal sales system like Client Profile to find out what is important to your prospects about their insurance program. Ask questions about what their current agent offers them on issues like Service, Auto, Property, Life, and Business. Done properly you will eliminate the price objection and sell more policies per Household.
Acquire an Agency (with Our Help)
Growing your agency through acquisition is easy and affordable with our help. Smart Choice® offers buy/sell support as well as discount financing through our financing partners.
2024 is full of opportunity. Get in touch with your state director to take full advantage of your Smart Choice® membership this year.