Presented by David Corwin
In my position with working with many agents it dawns on me that many if not all insurance professionals want to arrive. Arrive defined is “to reach a place at the end of a journey or a stage in a journey.” I define it as complacency or becoming comfortable. Too comfortable is the zone that you need to stay clear of in my opinion. Here are some indicators to tell you where you are.
• Do you have a business plan? Crafting a meaningful business plan takes a lot of thought and time. Set out a strategy for your business and in particular, your marketing strategy. Set targets and objectives, including sales and financial goals so that you can monitor business performance.
• Are you actively looking for new prospects (referrals and warm market) or just replacing the business you wrote in the past? It really should be a 60/40 split. Sixty percent of your marketing efforts should be spent on referrals and warm marketing. Forty percent should be reviewing clients that you’ve written before, both fostering the relationship built, as well as looking for new business.
• Are you running enough appointments throughout every week to get the result you want? Yes, I know – the old numbers game. It only makes sense that if you have enough lines in the water the more fish you will catch. The more successful agents run between 10-15 appointments per week. If you’re running less than that…run more. It’s as simple as that.
• On your appointments do you implement a fact finder to obtain material facts that allow for cross-selling opportunities? If you don’t, well then, you’re probably an order taker, and if you don’t have what they want you’ll go back to your office without the business. Last I checked, an insurance license allows you to sell Life, Annuities, Health, Long Term Care and Disability insurance. If you don’t use a fact finder then you just have an insurance license.
• Are you furthering your education through industry leading programs like CLU, ChFC or CFP? Furthering your education allows you to become better informed to assist with the variety of unique problems that your clients may have with respect to their estate planning, wealth transfer, income replacement and risk management needs. It’s been reported that holders of these designations increase their sales by up to 51%.
This isn’t meant to pass judgment of any sorts, but to help you realize that you never want to arrive. If you do that means that you’ll never challenge yourself to learn new things and that’s when true growth will happen.