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Agents are continually looking for ways to grow and create a prosperous business – something that can be tough when the marketplace is in its current state, and money is tight due to economic inflation. So how can agents become, and remain successful, despite the challenges they’re faced with each year? By adhering to certain tried and true principles of success. 

While captive agents are beholden to a single carrier (and their rates), independents are uniquely positioned to help clients navigate the complex world of insurance and find the coverage they need at a price they can afford. Independent agents can beat the hard market by tapping into the excess and surplus (E&S) market.

But in the current market, it can be nearly impossible to become a successful independent agent. Joining an insurance agency network ensures that you have someone negotiating on your behalf for things like commission rates, bonus and incentive opportunities, markets access, and more. The right insurance agency network can make all the difference to a new or struggling agency.

You can’t manage what you can’t measure. My agents and team have heard me say it so many times that I could hear their eyerolls as they read that line.

Joining an insurance cluster group is a great way to gain access to appointments with carriers that would be off-limits if you were negotiating on your own. Cluster groups give independent agents power in numbers — a group of agents has more buying power than a single agent alone, leading to more profits.

While many agents join networks like ours simply for help accessing appointments, many agents approach our network seeking ways to diversify their business. In this particular insurance climate, having a diverse range of options to satisfy customers will be crucial to both retention and growth.

Can you think of a small business that doesn’t use email? What about a small business that doesn’t use the internet? While cybercrime has traditionally been considered more of a concern for larger organizations, that trend has shifted quickly.

Although we’ve been seeing indications of a hardening market for some time now, the state of the insurance industry shows no signs of shifting directions. Independent insurance agents will be feeling the squeeze when it comes to being able to provide coverage for clients. Here's how you can succeed despite the hard market.

Picking the right technology can be a daunting task for any independent agency. Whether you’re a one-person band or orchestrating offices across multiple states, your agency’s needs are unique—and you need solutions that fit your business.

Two years removed from the start of the pandemic and the global economy continues to face a wealth of uncertainty. Rising interest rates and continued inflationary pressure threaten nearly every sector. In the insurance business, challenges abound as agents navigate an ongoing hard market and shrinking capacity.

As an independent agent, you have the combined superpowers of ease, choice and advice. While your daily to-do list can make your super-powers feel mundane, a coverage consultation with you could be the most important conversation of someone’s life!

In 2013 Insurance Journal surveyed a number of independent insurance agents about their formal business plans. Just 15 percent of respondents said they had a formal plan for the growth of their agency.