Do you have a niche that you are not leveraging to get new business?
If you are looking for a way to differentiate your agency, look at your book of business. It is likely you have experience in niche markets - whether it is the ten restaurant accounts you have or the eight accounting firms.
That means you already know what carriers are best for these businesses and their risk management issues. You can leverage that experience to get more similar accounts.
Most new business comes from taking away business from an incumbent. To overcome a generalist you have to “outniche” them. Show the prospect what the generalist has missed – because they are not the niche experts you are. Go beyond price, so the incumbent doesn’t just match what you offered. Use your expertise to make a case for how your risk management can help them avoid claims and subsequent premium increases.
A starting point for marketing is to create a sell sheet and a dedicated webpage about your niche. Use Facebook and LinkedIn to post an article such as “3 Ways This Niche (fill in the blank) Can Reduce Its Insurance Costs.” Send that article out via email to your niche prospects. Ask your current clients in your niche for testimonials.
Over time as you build your book in your niche, you will develop a reputation as a sought after go-to insurance expert.
ANE Featured in Insurance Business Magazine
ANE was featured in the Insurance Business Magazine article “Agencies band together to clear path through industry disruption.”
Why are agencies banding together? Because networks leverage strong relationships between agents and carriers to drive business and yield positive results across the board.
“Networks like ANE are dealing with agencies who want to remain independent, and want to continue to move forward, grow and perpetuate, whether with family or existing management groups. That’s what has fueled our rapid growth in the past few years,” says ANE CEO John Tiene.
Read the article
What do agents say? 2018 NU/PIA Independent Agent Study results
In 2017 the National Association of Professional Insurance Agents (PIA) conducted its inaugural Independent Agent Study — a research project designed to annually take the pulse of independent Property & Casualty insurance agents throughout the U.S.
Here are three of the insights from the study – and ANE’s response for its members
The exodus of talent on the agency side remains concerning. Forty-five percent of our independent-agent study respondents, most of them principals or owners, said they planned to retire in the next nine years.
ANE works with our members to develop new producers by providing training and ongoing support. We also help owners prepare for succession if that’s what they want.
Only about 1 in 4 (24%) of PIA members who responded said their insurance carrier relationships were improving; 19% said their relationships had declined.
ANE prides itself on providing members better access to more carriers. Our network’s buying power and our close working relationships with our carriers means when agencies need support to close a deal or solve a problem, they get it.
Despite 56% being armed with agency smartphones, only 41% of respondents said they can provide quotes to prospects while out in the field.
Our members access Vertafore at a discounted cost and with hands-on support enabling agencies to “go mobile” and much more.
If you are facing any of these issues, ANE is here to help.
The 2018 Independent Agent Study: Agents speak out on carrier relationships, challenges and their future plans
The National Association of Professional Insurance Agents (PIA) has released a study to take the pulse of independent Property & Casualty insurance agents throughout the U.S. The study provides insight into the demographics, books of business, challenges and carrier ratings.
Some key finding include to compare to your agency:
45% of respondents, most of them principals or owners, said they planned to retire in the next nine years. Is a talent gap a concern for your agency?
About 24% said their insurance carrier relationships were improving; 19% said their relationships had declined. Are you happy with your carrier relationships?
Although 56% have smartphones, only 41% said they can provide quotes to prospects while out in the field. Can your agents quote remotely?
More study results will be released soon. Check out the video for an overview of the results.
How to Hire Millennials – and Make Them Successful
In a recent issue of Independent Agent Magazine, ANE CEO John K. Tiene discussed how to win the talent battle agencies like yours are facing. ANE, Agency Network Exchange, helps independent agents grow and stay independent.
Most insurance agencies are staffed primarily by baby boomers. How is your agency going to manage when your experienced producers and personnel who keep your clients happy retire?
The answer is millennials.
You might think millennials are job hoppers. Many millennials think the insurance industry isn’t for them. Here are some insights to help bridge the divide - millennials:
- Value job enjoyment above compensation, followed by job security and flexibility
- Are the most connected generation in history
- Want to understand how their work impacts clients, their employers and the world in general
Unfortunately, 80 percent of them have limited knowledge and understanding of the employment opportunities available in insurance. But, once they join the industry, 90% say their insurance careers provide job satisfaction, financial stability, and most plan to remain in the industry.
That’s one reason why we work with GAMMA IOTA SIGMA - the national fraternity for insurance, risk management and actuary science students. ANE can connect member agencies with interested students and graduates for internships and jobs.
If you are facing the millennial hiring challenge, learn more in our article (download). Then give us a call. We can discuss hiring - and help you solve any other issues your agency may face.
2nd Annual SalesPro Producer Boot Camp
MarshBerry and ANE are teaming up again to offer the 2nd Annual SalesPro Producer Boot Camp to all ANE Member Agencies.
This intensive sales training workshop is designed to drive book of business growth through enhanced new business production. This session, created from top producer methods for building a sustainable and predictable book of business, is specifically geared towards Property & Casualty industry agents.
New and experienced producers looking to achieve a higher level of new business production are welcome to register and attend. Session topics will include:
- Defining success in terms of book size and years to reach milestones
- Breaking down new business goals into manageable activity metrics
- Using six levels of prospecting to open more doors
- Time management techniques
- Using LinkedIn and leveraging centers of influence for better referrals
- & much more!
All of our attendees will be going home with a comprehensive sales planner that encompasses all aspects of a proven successful selling system, as well as a Producer Benchmark Report which will help dissect your current book of business and set a roadmap to achieve yearly goals.
Dates/Times:
Day 1: Thursday, October 15, 2015
9:00am-5:00pm: Training (Breakfast & Lunch included)
6:00pm: Networking Dinner (included)
Day 2: Friday, October 16, 2015
9:00am-12:00pm: Training (Breakfast included)
12:00pm: Class Adjourns
Location:
Stockton SeaView Hotel & Golf Club, 401 S. New York Road, Galloway, NJ 08205
Phone: 609.652.1800
Cost:
$625.00 per attendee
Register today at https://anebootcamp2.eventbrite.com
For more inforation on this training, click here