How to Approach Building Referral Partnerships with Local Businesses

How to Approach Building Referral Partnerships with Local Businesses

Building relationships with other professionals is one of the fundamental steps to succeeding as an independent business owner, whether you’re opening an independent insurance agency or any other business. However, building referral partnerships begins with identifying the right types of professionals who will have access to your ideal clients. For the sake of this article, we’re going to focus on the types of professionals that can specifically benefit independent insurance agents and help grow a solid and profitable client list.  

Building referral partnerships

There is a lot of competition in the insurance industry and everyone is vying for the same group of potential prospects. Finding ways to connect, engage, and prove that you are credible and trustworthy is a tall order, especially when you’re just starting out and opening an agency. Building referral partnerships with local professionals can help you break through the noise and give you a competitive edge in your local market. Not only can referral partners connect you with new prospects, but they can vouch for your abilities and establish trust.

Ideal referral partners for independent insurance agents

an-illustration-of-different-types-of-people-connected-in-different-ways-this-works-great-for-social-networking-or-word-of-mouth-referral-marketing-co-1Like any business strategy, you need to have a plan of action. The first step is to identify the types of referral partners that will be valuable and have access to your ideal clients. Ideal referral partners for independent insurance agents include:

  • Mortgage brokers
  • Real estate agents
  • Financial planners

Once you’ve identified these partners, the second point of action is to meet these partners and start building relationships. 

Preparing for a referral meeting

There are a few ways to get in front of the right referral partners, and once you get that coveted introduction you need to come prepared. Every independent agent and entrepreneur, regardless of industry, needs to have a well-rehearsed elevator pitch ready. A quick synopsis of your background and value proposition. 

Present a clear strategy that lets them know that you share the same goals, the same clients, and you are dedicated and passionate about making the partnership profitable for both parties. 


Once you’ve presented your pitch, give the potential referral partner time to think about your proposition. Have a “leave-behind” ready with all the important information, including contact. Make it look professional with a clear brand identity and logo that stands out and makes you memorable. 

Affordable American Insurance (AAI) is a network for Independent insurance agents that provides a turnkey business model for building a successful insurance agency. AAI provides the tools, supportive community, top-of-the-line technology, and other resources to exceed your goals.

Join today and grow your agency bigger, faster, and more efficiently.