Scott Simmonds - Insurance Newsletter

Helping Insurance Experts Build Great Businesses
www.ICMentor.com

October, 2007

Agents and Agencies

I hear from a fair number of insurance producers. They are either considering a job change to consulting or they like insurance sales but are unhappy with their current agency situation. I'm not saying all agents are in these categories. Just the ones who call me.

This note focuses on the later – agents miserable with their current situation.

The common theme among unhappy agents is that their agency is terrible at marketing. I also hear complaints about the advertising, the quality of insurance companies represented, and the agency’s support staff.

One agent actually complained about the quality of calendars their agency gave out. I told him it wasn’t the most important problem he had.

Here is my general advice to those who want to stay in the agency business:

--Realize that your success depends more on you than on your agency.

--Stop wishing things were different. Stop wishing that the agency owner would run more newspaper or yellow page ads. Stop complaining that someone else gets all the call-in leads or the referrals. Change agencies or buck up and get on with maximizing your current opportunity.

--If you do decide to change agencies, the odds are about 90/10 that you will end up in an agency that has the same faults as the one you’re in now.

--Objectively, most insurance agencies offer tremendous opportunities. Even poorly run agencies offer a great chance for producers to provide exceptional service and make a great living. It’s up to the individual to maximize the opportunity.

--Marketing your services and abilities is, ultimately, up to you. Realize that you are in the marketing business – marketing you. Now get on with it!

--Build your own brand. Build your name and your reputation in the community and industries you work in. Make yourself the go-to person for amazing insurance value – coverage, price, and service.

--Establish your own service standards. Let clients and prospects know how you manage your business. Return phone calls in 90 minutes. Be incredibly responsive. Show extreme dedication to the value you provide.

--Networking and building a network are different animals. A network comes from building relationships where you are seen as valuable and a person of interest. Become remarkable – worthy of remark.

--Build your credentials. Prove to yourself, your agency, your clients, and your prospects that you are an insurance superstar. Get your CPCU. Take classes, read magazines, books, and websites that expand what you know about the policies and exposures you manage. Read the writings of the great idea people – Seth Godin, Peter Drucker, and Alan Weiss.

--Build a team to help you. If your agency doesn’t provide a coach or mentor, get your own. Work with another producer in your agency to bounce ideas off of. Use a non-competing agent you respect. Perhaps there is someone you met at a seminar or educational session with whom you can work. Another option is to hire a coach or mentor.

This industry offers almost limitless opportunities for agents and consultants. Success depends on smart-work, education, intelligence, dedication, and high self esteem.

Referral Network - I'm building an online listing of insurance consultants. This may grow into a referral network and directory. I need to know who is out there! If you're interested in being a part of a directory, please complete the form. There is no cost or fee.

Consultant Mentor Program - Designed to help you build your business faster, with less hassle, and fewer false starts. Grow your current practice or gain the edge in your startup. The object is for you to make your business the best it can be - faster and more profitably. Visit my informational page at Consultant Mentor Program. Check out my Insurance Consultant's Handbook too.

Insurance Agent Mentor Program - Is your insurance career as successful as it can be? Is your book of business growing as fast as you would like? Is your retention as strong as others in your agency? I'm glad to talk about how we might be able to work together to build your book of business. Visit my informational page at Insurance Agent Mentor Program.

Please Forward This Newsletter To Other Insurance People

Scott Simmonds, CPCU, ARM
Insurance Consulting
Phone 207-284-0085
Fax 802-992-4027
Scott@ScottSimmonds.com
www.ScottSimmonds.com

Insurance Consultant Services Website: www.ICMentor.com

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Comments regarding insurance policies or products in this newsletter do not constitute an endorsement. I accept no fees of any kind from any company mentioned in this newsletter.