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The Role of the Independent Agent Throughout the Customer Life Cycle

Insurance customers have natural life cycles. For instance, someone who gets car insurance at 16 might need rental insurance at 20, then perhaps homeowner’s insurance in their late 20s, after which they’ll start thinking about life insurance. The best insurance agents find ways to match insurance products to the insured’s changing needs over time. This is key to customer satisfaction and for keeping long-term customers. As the customer experience experts at Ameyo explain, “Satisfied customers can become your strength. Not only will they ...

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  • How an Independent Insurance Agent Knows When to Grow

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    As an independent insurance agent, being small and personable is your strength. And what a strength it is. A 2017 survey by the Independent Insurance Agents and Brokers of America found that the majority of P&C premiums (35.5 percent of personal and 83 percent of commercial) were secured by independent agents. In fact, many experts preach that you should always use an independent agent over a captive agent. As Syncfusion’s Robert Lynch points out, an independent agent will help you get the best price and provide the best service. Like ...

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  • 6 Crucial Time Management Tips for New Independent Insurance Agents

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    The life of an independent insurance agent can be hectic, especially when you’re just getting started out. As the the College Grad team points out, in addition to spending time with clients during normal business hours, many agents spend their evenings doing paperwork and preparing presentations. It can an all-encompassing profession. And as you probably know, there’s a big difference between being busy and being legitimately productive. To build and sustain momentum, you must take an organized and methodical approach to completing tasks. Here’s how you can prioritize your time, dedicate it ...

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  • How to Reach New Customers When Your Marketing Budget is Tight

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    Most independent agents have small offices with fewer than 10 employees. Budgets are usually stretched, and there’s not always a lot of money available for marketing. In fact, Katie Lundin at AW360 cites a lack of budget as one of the top five marketing challenges for small businesses in general. But of course you need to bring in new leads to grow your business and solidify your position in your market.   So, what can a savvy agent do with limited financial resources? It turns out there’s a lot. Here’s a mix of both digital and offline t ...

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  • The Online Features Customers Expect From Their Agent’s Website

    As an independent agent, your website is an invaluable asset that contributes heavily to the success of your business. Case in point: The New Horizons Insurance Marketing team found that a staggering 97 percent of consumers research a product or service online before making a purchase, and 91 percent take the next step in the buying process based on their online experiences. That’s why you want to make sure you’re covering all of the bases and giving your customers exactly what they’re looking for. After landing on your site, key information ...

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  • How to Sell Business Insurance to Your P&C Customers

    Long-term agent-customer relationships are the lifeblood of successful insurance sales. Having established relationships with customers means there’s built-in trust and a sense of comfort they have with you. In turn, this can create cross-selling opportunities. Patrick Hull even writes in Forbes that your chances of selling to an existing customer is 60 to 70 percent. But that number drops dramatically to just 5 to 20 percent for a new prospect. That’s why it’s easier to pitch additional coverage to existing customers than ...

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