Independent Agents, Regional Carriers, Innovation and Excellence

Insurance organizations that are local or regional are a part of the largest segment of employers in the American economy. Why should they exist and succeed in a world where bigger is associated with better?

Their success is based on their ability to provide service that excels through responsiveness, collaboration and innovation that larger organizations are slower or unable to deliver. Consider:

Responsiveness

Local or regional insurance operations are able to (or should) deliver a more personal customer experience. It is easier for those organizations to provide customers with access to associates with the authority and values that are focused solely on satisfying the customer.

Collaboration

It is easier to achieve “Trusted Adviser” status. The clients’ experience should be more personal, access to services more direct and the commitment to provide excellent service more apparent than in larger organizations.

Innovation

Local and regional companies should lead the industry with innovative products and services. Regional and local companies should act, not react. They should dominate their market in the areas that they choose to focus on.

Some observations from experience:

Associates

Associates should always be training for and moving up to positions that have more value to clients and generate greater revenue. In flat organizations, personal growth can only be achieved if skills are developed that produce more value to the organization. As associates develop and are freed from tasks that detract from revenue growth, the value gained should be a better customer experience.

With growth in skills and responsibilities, associates’ value should be recognized through compensation and increased accountability.

Revenue-Generating Associates

While most if not all functions should be linked to revenue or profit generation, those who directly generate revenue need to be supported by qualified, dedicated associates so that they can fully focus on the customer or prospective customer. Their focus should be on serving the customer and drawing new clients to the organization.

Minimalism

Focus on what you do best and let go of tasks or services that can be better performed elsewhere at less cost.

Upsize and outsource. Work that can be done by others more efficiently and at less cost should be pushed down or out of the organization.

Technology does not necessarily improve the customer’s experience. Clients want personal contact; they want to be valued. Clients want to know what you can do for them, not what they can do for themselves.

Time is the most precious resource of the organization and client. Remove every impediment that takes away from customer acquisition, retention and service.

Organizations can always grow, improve and change to the benefit of clients, associates and stakeholders. A disciplined approach to continuous improvement and market focus will allow any organization, regardless of size, to thrive and lead their marketplace.