Insurance

Starting your own independent insurance agency can feel both challenging and overwhelming — and it’s a leading reason many agents start in the captive world or as a producer in someone else’s agency. Many feel that the challenges of simply knowing how to start any business are daunting and simply don’t know where to begin.

The first half of 2020 has been interesting, to say the least. We are facing unprecedented times as we try to manage our work and personal lives from home – working remotely, participating in zoom meetings, juggling school schedules and workloads, while doing our best to continue the roles and responsibilities of our own jobs.

Most insurance agents can write auto and home policies in their sleep, and many understand commercial insurance like the back of their hands. But sometimes, clients throw us curve balls.

Selling in the insurance industry is not the same as sales in many other industries. Unlike most commodities being sold and advertised, insurance isn’t a choice in most cases, it’s a necessity.

In my recent article, “The Art of the Close,” I discussed how I coach insurance agents to close on value versus cost. I don’t leave my close until the end of my meeting with a prospect. The entire meeting is the close.

In insurance, as in any sales business, there comes a time when the presentation is over and it’s time to close. Or, to put it another way, time to get paid for your investment of time and hard work in looking for the best coverage options for your clients.

Successful insurance agencies recognize the value of a robust agency management system. There are several wonderful products on the market today that allow your entire team to stay on the same page as you sign on new clients and maintain your existing book of business.

Building an insurance agency is challenging, whether you’re a new insurance agent just starting out on your own or a seasoned agent adding a new line to your agency’s offerings.