12 Survival Suggestions for Today’s Independent Agent

To survive, think backwards. Consider what you shouldn’t do before contemplating what you should, as avoiding negative acts improves your agency’s health.

Don’t just promote from within. As important as it is to have a career path for your staff, don’t overlook the value of hiring from the outside. Fresh blood generates fresh ideas and energy, particularly in sales positions.

Don’t forego all small accounts.Seemingly tiny accounts may be allied to larger businesses. Some are divisions, subsidiaries, or even experimental operations, while others may be new businesses financed by venture capitalists.

Don’t be dismissive of new local rivals.The barriers of entry to the agency business are minimal. Direct company representation isn’t required to place business and new digital-only operations appeal to certain demographic groups.

Don’t make your lead carrier your brand.Your agency is more than a shop window for your primary insurance company. Build an identity that’s uniquely your own to entice and retain business. Furthermore, be cautious about delegating brand-building to outsiders or low-level employees. This integral element of marketing requires more than just your approval — it requires serious input from agency management.

Don’t complain about your carriers too often.Disintermediation is no longer just a big word; it’s likely discussed in every carrier’s boardroom. Company people are as human as you are, so if you don’t like them, odds are they won’t like you back. And it can be costly to your operation.

Don’t overlook the value of personal relationships. Many top producers favor actual relationships to digital touches. Human contact is how they sell and it’s their “secret” to retaining accounts in this digital age. Virtual contact is valuable as well. What kind and how much of it to employ depends on the individual buyers and sellers involved — not just what’s currently in fashion.

Don’t overlook the importance of a strong digital presence. Apps for smartphones and tablets offer agencies and their insureds an easy-to-use, specialized feature set. As such, they are desirable additions to your digital arsenal.

Don’t rely solely on digital interaction. Be respectful of how people want to do business. Some prefer everything to be online, others merely like email, and still others thrive on the classics: physical correspondence, phone calls, and face-to-face contact.

Don’t avoid hiring younger producers. People mainly want to do business with others their own age, so add agents to align with each insurance-buying generation. It adds longevity to your agency and to the industry.

Don’t abandon humor to your rivals. Humor and insurance were once non-sequiturs. It’s no longer the case with the largest personal lines companies employing it in their national advertising. Show your agency’s personality and display your sense of humor.

Don’t overwork yourself. Burnout is real. Take some time off from the all-encompassing world of insurance and recharge. It’s worth it.

Do something sales-positive every day. Do something sales-positive every day. Promote the value of doing business with your agency at least once a day (and random social media posts don’t count).