The number of independent insurance agencies has grown in the past years. How do you make sure yours stand out from the crowd?
3 Tips to Kick-Start Your Independent Insurance Agency
Starting an independent insurance agency, one that is successful, is not something that just happens overnight. Many things go into making that work. Before you dive head first, there are 3 essential tips or skills that can be of great use in building a successful independent insurance agency.
Knowledge is Key
The beauty of independent insurance agencies is that they offer a lot of different products by different insurance carriers. The tricky thing, however, is that there are going to be different coverages, pricing structures, and a lot of other information that you will need to manage. There are many different nuances to your process that you'll have to master, as you will want to make sure you present yourself to your clients with great understanding and confidence about the products you're offering.
By really mastering the differences between products, you will be able to offer your clients the best coverage for the best price, depending on their needs. Being knowledgeable will also enable you to suggest changing policies when your client's needs call for something else. This means that you'll be able to provide great service.
Since you'll be dealing with many different carriers, you'll want to make sure you build strong relationships with them. Good relationships lead to valuable contacts. If at some point a client comes back with product or company specific questions, you'll be able to get in touch with someone to help you address those questions in an efficient manner.
But keeping a good relationship with your carriers is just one part of the equation. You also need to cultivate strong relationships with your clients. Building trust is essential for clients to truly trust you and let you know the details about their insurance needs.
Keep an Open Communication Channel
Making yourself available is essential. Insurance is one of those things that generates many, many questions and you want to let your clients know, you will be there to answer them. It's part of earning and keeping their trust. Whether they're just starting to look at their first policies, or want to make updates to the ones they already have, it is fundamental that clients feel like they can talk to you, because communication is the building block to successful long-term relationships, and that's what independent insurance agencies are all about.