Build a massive insurance agency by following my formula and you will not only build a massive insurance agency, but you will also build a massive income. In my last article we talked about selecting the right team; and the fun and profit of marketing goals oriented contests. It takes more than just getting licensed and starting an online or offline insurance agency, it also takes the right team members with a positive and winning attitude. So you have started building what may become a massive insurance agency, now what? There is more to the formula, so let’s get started and build that massive insurance agency and massive income!
The process of building a solid client base has begun, you have now mastered a very important part of the formula. I have known many agents and brokers that were good at building a client base, but after a few years, their incomes stalled! What in the world was happening? Why wasn’t the income keeping up with all those great sales that you and the team have worked so hard to build, the answer is difficult for many newer agents and brokers to understand.
It all goes back to the basic human condition of expectations, when we spend a significant amount of money on a service- we expect exactly that-service! You have worked very hard and written the new business applications and passed all of the underwriting requirements, just to see a chunk of it go out the “back door” on the first or second renewal! Here is where an agent or broker has to take a close look at the level of policy service being given to clients, and get back on track to building a massive insurance agency and massive income!
I have seen this problem so many times, it has always amazed me because the answer is simple-but not as easy as you may think to resolve. The agent or broker has to sit down and take a close look at the level of policyholder service being practiced. Policyholders have problems with the handling of a claim and feel their agent-broker has not jumped in to help, so they “jump ship” and go elsewhere at renewal time. The answer is to train yourself and team members to be there for the policyholder that has a complaint on a claim or some other matter. Tighten up on policyholder service, it will cost you a few sales-but will pay off big in the long run. Now you can build a massive insurance agency and massive income! Cheers!