5 Habits of Highly Effective Insurance Brokers

Do you use electronic signatures (eSignatures) for insurance?

Do you have the right contacts?

Are you on the right way to be the best insurance broker in the business?

As with any other profession, there are habits and best practices an insurance broker has to acquire in order to be on the top. I developed mine while working in the Canadian insurance industry for over 7 years, and I’d like to share them with you.

We all know that highly effective brokers use certain tactics to inspire confidence in their prospective clients to convince them on their choice. Which of them do you need to make a habit? Let us see!

1. Get yourself a good backup system

Whether it be the company you work for, your assistants or mentors, make sure that you have solid help to fall back on in challenging situations.

If you’re pressed for time, your eSigning service and means of communications should be ready for you. When what you need most is advice, your mentors should be there, and in cases where the key to getting a good deal is contacts and acquaintances then you should know where to go to get it.

2. Stay organized

Albert Einstein once said, “If a cluttered desk is a sign of a cluttered mind, of what, then, is an empty desk a sign?”

To me a cluttered desk means an organized mind. While this may be true only for a few people, what is most important is that you get a system working for you.

Take your Post-It’s out, get some cheerfully colored highlighters, use bookmarks, red threads and pins, whatever works. Make sure you feel comfortable navigating this system and you’re set. What worked for me was getting all unnecessary items out of the way. I got my office paperless, automated my assistants and did most money transactions online. The time-saving was considerable and infinitely helpful.  

3. Stay up-to-date

If you want to crush the competition, the key is to know it well. Go to trade organizations, keep up with the latest news, know what you’re doing inside and out. Attending industry events will not only give you valuable insights, but also make you friends in the right places, and that is also highly beneficial for business.

Don’t forget to keep notes on what standard practices everyone around you is following. While some of them may end up not being right for you, you can learn from them. If electronic signatures for insurance or TeamViewer is a popular choice, then there might be a reason for this. Conducting meetings over Skype is saving your competitor money? Try it out!

4. Cross-sell

One of the best qualities an insurance agent should have is the ability to cross sell products to customers. Remember that just about everyone needs more than one policy; combining homeowner’s or renter’s insurance with car or life insurance. Getting clients to buy additional products or services is key to maximizing profits and offering your customers a good deal.

Don’t skip on offering a bundle of products instead of just one policy. If they agree on a deal like this then good for you, if they don’t, then you’ve just done some publicity for another of your products.

5. Follow-up

Follow-up.

Your clients will notice, potential buyers and colleagues will appreciate it.

According to Follow Up Success, even though, 80% of sales are made on the fifth to twelfth contact, nearly 48% of sales people never follow up with a prospect.

Don’t hesitate on the follow-up. Send your customer or potential a personalized thank you note. Even if you didn’t land the deal at first, keep the interests of your prospective client at heart and drop them a line in case you can fix something up for them, it can become a successful arrangement in the future. Establishing good relationships with clients and colleagues alike can become a good foundation for growing your business.

Looking to take your business paperless? Sign-up now and get free access to Signority’s Business Plan.

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