by Syndicated Insurance Resources | Oct 16, 2017
You want to be successful in your insurance business. Some agents dive in feet first and cross their fingers as they wish for success. Other brokers make a plan and follow it. With either approach, most of us check the box: project/business launch completed. And we quickly move onto the next thing… Right?! We tend to “set it and forget it,” like a Ron Popeil commercial.
While there may be a handful of people this approach works for, the rest of us typically aren’t as fortunate.
If we want to be successful, we need to continually learn and seek ways to improve our insurance business.
Sure, we all know outlandish brokers and agents who run through life jumping from one shiny object thing to the next. While they appear to be successful, they actually leave a wake of chaos and destruction in their path. (The aftermath of a hurricane comes to mind.)
Shiny-object brokers may experience momentary success, but it isn’t sustainable over the long term.
So how can you beat the odds and establish a foundation to propel your insurance business forward systematically?
From a marketing perspective, we recommend creating a strategic plan that you follow like a roadmap. But let’s say you already have a plan. How do you ensure forward momentum and keep up with the accelerated pace of today?
Here are a few guidelines to consider following:
- Continually Learn. Keep reading, searching and listening. With today’s information highway, the options for learning are limitless. From webinars to podcasts to social media platforms – all you have to do is plug in, absorb, digest and apply what you discover.
- Share What You Learn. Keep posting and sharing relevant nuggets and insights with your customers and prospects. In doing so, you’ll position yourself as a thought leader that is plugged in and paving the way for success.
- Find Ways to Connect. Contrary to popular belief, it isn’t all about you. It is, however, about connecting with others to see how you can help. (As a Rotarian, we call is Service Above Self.) If you seek ways to help others, you’ll learn volumes about what works and what doesn’t work. By contributing to the lives of others, you feed your soul.
- Genuinely Listen. One of the best ways to continually learn is by really plugging in and listening to what others have to say. Intentionally dig beyond the surface and find out what others are passionate about, what keeps them up at night, and how they are achieving their business and life goals.
- Practice Makes Perfect. Anyone who masters a sport, skill or talent continually practices. They stretch and grow by finding new techniques, approaches, and strategies. No matter what you’re trying to achieve, consistently push to find ways to practice and improve.
- Study Others. Whether it is a new marketing technique or a creative tactic you’ve never tried, there is always something to learn. Find best practices and up your game. Study the masters and learn from the experts.
If you want to be successful, you cannot be stagnant. You have to learn new methods, test them and find the ones that work for you. What methods do you use to continually learn?
One way to learn about new markets and unique product offerings is by using our FREE dashboard. When you sign up, you can access more than 150 markets and 40+ unique product offerings, as well as HR Consulting Services to set you apart from your competitors. The tools are free. The commissions are higher. You have everything to gain. Sign Up Today!
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by Syndicated Insurance Resources | Aug 10, 2017
Brokers and agents save time and money by joining Syndicated Insurance Resources…for free. Why? Because we provide you with one point of contact to access multiple programs and carriers. You also get higher-than-average commissions.
Our partnership with Appulate streamlines your ACORD submission process to help you rapidly get competitive pricing and makes you stand out to your employer clients. As a member of Syndicated, you have free access to this easy-to-use tool.
Join us on Aug. 16 or Aug. 31 at 2 p.m. ET for an informative webinar to help you learn how to use Appulate to:
- Reduce form redundancy
- Track submissions
- Upload ACORD data to populate quoting portals (MGA, Brokers & Carriers)
by Syndicated Insurance Resources | Aug 8, 2017
“The squeaky wheel gets the grease.” “Shine your light so bright, and no one will need a telescope to see you.”
“Be the one to stand out in the crowd.” “You’ll never influence others by being like everyone else.”
You’ve heard these sayings. You know they are true. The bottom line is that those who work hard to set themselves apart stand out. But what if you could do that easily with just the click of a button?
Let me ask you… does your agency look like everyone else? Can your customers get the same insurance products from others? What makes you different? How do you stand out in a crowd?
In today’s competitive world there are many ways to differentiate your business. But how do you pick the ways that are right for you?
Syndicated Insurance Resources serves insurance brokers and agents across the nation. We make it easy for you to access more than 150 markets and 40 unique offerings for FREE. No strings attached – just free, automated quotes with higher than normal commissions.
And just recently, we kicked it up a notch by bringing you one more thing to help you stand out in a crowd. You can now offer your clients HR Consulting Services. Our HR Consulting dashboard can help you be more than a broker by offering more benefits to your clients than wannabe competitors.
You can learn more about these HR Consulting Services on our website.
Want to tap into this? Email us at [email protected] today to get the conversation started.
by Syndicated Insurance Resources | Jul 14, 2017
Everyone is eagerly waiting to learn about next steps for health care coverage in our nation. Repealing and replacing the Affordable Care Act (ACA) is a top priority for the new administration. As you can imagine, there are many moving parts to this process. This is similar to watching a tennis match as the ball get strategically lobbed back and forth over the net. Meanwhile, the spectators (aka the American people) are forced to watch from the sidelines.
To date, the House passed the American Health Care Act (ACHA) in May. In turn, the Senate released a bill called the Better Care Reconciliation Act (BCRA) that is currently out for review. If the Senate passes the BCRA then both the ACHA and BCRA could go to a joint committee for reconciliation. Alternatively, the House could decide to vote on the BCRA.
Thursday (7.13.17), Senate Finance Committee Chairman Orrin Hatch (R-Utah) made the following comments on the Senate floor: Today, the Majority Leader unveiled a revised discussion draft for legislation to repeal and replace Obamacare. Let me say at the outset that this bill isn’t perfect. There are some things in the bill that, given my preferences, I would do very differently.
But, one thing I’ve learned in my 40 years in the Senate is that, people who demand purity and perfection when it comes to legislation usually end up disappointed and rarely accomplish anything productive. That’s particularly true when we’re talking about complex policy matters.
The next vote on this legislation will presumably be whether to let the Senate proceed to the bill. Regardless of your position on this particular draft, if you support the larger effort to repeal and replace Obamacare, you should, at the very least, want to have a debate on this bill.
Under the rules, we’ll have an open amendment process. Members will get a chance to make their preferences known and to have the Senate vote on them. Taking that opportunity is the very least we can do.
Keep in mind, Mr. President, virtually every Republican in this body has supported the effort to repeal and replace Obamacare more or less since the day it was signed into law. We’ve all made promises to our constituents along those lines. This legislation, while far from perfect, would fulfill the vast majority of those promises.
If we pass up this opportunity, we’re looking at further collapse of health insurance markets, which means dramatically higher premiums and even fewer healthcare options for our constituents. And, make no mistake, Mr. President, while some are talking about a bipartisan solution to prop up markets in the event this bill fails, there is no magic elixir or silver bullet that will make that an easy proposition.
I have to think that, at the end of the day, if we fail to take action to fulfill the promises we’ve all made, we’ll have to answer to the American people for the missed opportunity and the chaos that will almost certainly follow. I hope all of my colleagues will keep that in mind.
No matter what the outcome, everyone is impacted by the proposed changes. From the individual mandate to the employer mandate, your friends, family, and customers need you to be informed about the changes so you can help them navigate the insurance waters.
Stick with us for more relevant updates and insights. While you’re here, sign up for your FREE Syndicated Insurance Resources account that helps you access more than 190 markets and unique offerings.
by Syndicated Insurance Resources | May 13, 2017
Prospecting for new clients is hard. According to industry studies by prospecting is the number one challenge faced by agents every year.
Creating and following a marketing plan that helps you target your prospective customers is sure to work. But what can you do when you don’t have the time or know-how to write or implement a marketing plan
Here are five quick tips that you may want to work into your offerings and/or daily routine.
Build a Referral Program: Be bold and ask your existing clients for referrals. Give them incentives for doing so. Consider giving a discount on your services or offering gift cards from Starbucks or Amazon for every referral that turns into a client. However you define the parameters, ensure your customers know how to participate and reap rewards.
Tap Into Your Network: Use tools like LinkedIn to connect with people you already know. See who they know that may be a prospective client for you. Be sure everyone in your network knows what you do and sees you as a trusted advisor. Once you’ve established rapport with your network relationships, ask them for introductions.
Create Appreciation Events: Everyone likes a free meal or drink. Hold Happy Hour events or dinners that you invite existing clients to as “thank you.” Ask them to bring a friend to the event with them. To ensure they bring prospects with them, make a contest to see which client can bring the most friends.
Send Handwritten Notes: Everything is digital these days. Stand out from the crowd by sending handwritten notes to leads that have gone cold. Reconnect with a brief note that you send to three-five people at least once a week. Wait 3-5 days and then call each person you sent a note to as a follow-up.
Participate in Local Organizations: Get involved and be seen. From your local Rotary Club chapter to the prominent non-profit organization in your community, if you’re actively involved you will become known and build relationships that lead to key introductions.
No matter how you approach it, prospecting for clients takes time and effort. Carve out time every day to methodically work on your prospecting plan. Over you time you will definitely reap the rewards.
by Syndicated Insurance Resources | Feb 22, 2017
Vince Lomardi had a way with words and though he was a genius at strategy, he always took the time to work on the basics. To start out every season, he would gather the players around for the first preseason meeting. There, he would give his famous “This is a Football” speech.
With a football in hand, he walked to the front of the room, held out the pigskin in front of him, and said, “Gentlemen, this is a football.” He did this to remind his players the importance of simple and basic truths about the sport he loved.
As commissions seem to erode and clients seem more interested in finding the cheapest than the best, successful brokers must get back to the basics and be mindful of the fundamentals.
What is the primary goal of an insurance broker? It seems like a simple enough question but surprisingly most brokers can’t find the right words to even explain what they are trying to accomplish. For many brokers, the mission has changed with the circumstances. The broker has been blown off course and is no longer sailing in the right direction.
Is it the goal of the insurance broker to always find the cheapest solution? Isn’t it more important to make certain that products offered to meet the needs of the client? While many clients will say that always take the least expensive solution, their actions don’t always support their words. In theory, a broker could always find the least expensive solution and still never gain new clients.
As brokers, our football, our objective is to gain new clients. Gaining new clients is what pays the bills and supports our families. Commissions follow a commitment to acting in the best interest of the client’s long-term future. If we don’t want to become another price driven commodity we must get back to the basics and remind ourselves of the real mission.
Here are few actions items, a playbook for success:
1) Offer more than just an insurance policy. Consider offering employers safety and loss control recommendations or human resource assistance.
2) Position your agency as a source of information. Don’t just push products. Demonstrate your expertise and understanding of the available options.
3) Create proposals that are geared toward quality vs price. Avoid the temptation to just cut to the chase and throw out a number.
