Walk into any bookstore in America and you won’t have to look very long until you see a book that has something to do with the subject of winning. “Winners” from all walks of life are more than willing to share their secrets of success with the masses. Star athletes, business tycoons and politicians alike routinely top the best seller list. But what about the actual best sellers?
Crickets. That’s what you will hear if you walk into a bookstore and ask for something about the top producing insurance agents. Why is that? According to the Bureau of Labor Statistics, there are more than 400,000 insurance agents in the U.S.
I have been an independent insurance agent for the past 17 years. I have experienced the lowest of lows and the highest of highs in our business. I have also had the pleasure of working beside some of the most successful producers in the industry. There are many things that top producers know, but without exception they know their business, their customer and their role.
Know your Business
Who is paid more, a General Practitioner or a Specialist? You shouldn’t have to “phone a friend” to answer that. A specialist is always paid more. In any profession, those that know the most about it, are paid the most for that knowledge. Insurance is no different. Go to any agency in the U.S. and ask their top producing agent if they have a specialty. Invariably, they will. While they may have more than one niche, they will have specialized knowledge in very few areas. They learned a long time ago, that it’s better to be an inch wide and a mile deep than a mile wide and an inch deep.
Know Your Customer
I have heard it said that salesmen that know the names of their customer’s kids, rarely lack for business. I found that to be very true. How well do you know your customers? No, not how much premium they pay, how well do you know them as a person? Do you have a system for collecting vital information on your customers? Does your support staff keep their antennas up for information that may be important, or do they simply process paperwork? Here is a sobering thought: Your best customer is someone else’s best prospect. Ouch. You better get to know them, before someone else does.
Know Your Role
Producers are paid to do one thing: Bring in Business. That’s it? That’s it. I hate to break it to you producers, but, everything in an agency, other than producing, is done better by somebody else. Face the facts. If you find yourself doing service work on your accounts, then one of you isn’t necessary. Let your service team do what they were hired to do. I have never understood why some producers get in the way of their team. Please, do everyone a favor and get out of your office and go sell something. If you can’t or won’t do that, then find another job.
In our breakout session we will go further in depth on why winners win and the traits of top producers. I will hope you will join us.
Other breakout sessions include "Ride at Your Own Risk: Industry Implications of Uber" and "Top Efficiency Tools for Your Agency."
Register for this summer's Young Agents Conference in Asheville
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