As an independent insurance agent, one of the greatest resources at your disposal is the Independent Insurance Agents of Texas, or IIAT. The Independent Insurance Agents of Texas is the largest state association of insurance professionals in the United States.
An Independent Insurance Agents of Texas membership will allow you access to industry resources, save you money through special discounted offerings, provide continuing education and related material as well as exclusive members-only benefits, and offer memberships and representation of your interests at the state and national level.
Below are the five major reasons why joining the Independent Insurance Agents of Texas as an independent insurance agent can put you a step ahead of the competition.
1. Independent Insurance Agents of Texas Allows You Access to Industry Resources
Insurance agents with a membership to IIAT are allowed premium access to industry resources. An IIAT membership includes newsletters and other publications that allow you to stay abreast of news and current industry trends. Provided publications include “Texas Agent,” IIAT Education Alert, and the “Insurance Journal of Texas/South Central,” which provide information on new laws as well as industry regulations and developments. Members also receive free industry update webinars to help keep them informed of the latest in insurance news and advancements.
2. Independent Insurance Agents of Texas Membership Saves You Money
Becoming a member of IIAT will save you money in your career as an independent insurance agent by providing free or discounted resources that allow you a competitive edge. Membership includes access to E&O insurance and IIAT Advantage insurance markets that include workers’ compensation, personal umbrella, and other markets. You will also enjoy discounted registration fees to important industry events such as the IIAT annual conference that will not only help you to network with industry insiders, but also allow you to keep current on trends and developments within the insurance field.
3. Agent Members of Independent Insurance Agents of Texas Receive Educational Materials
IIAT membership provides agents with educational materials to help you obtain the newest insurance knowledge, helping to further your career as well as provide the best products for your insurance customers. Membership includes agent training and continuing education classes at reduced rates. IIAT agents also receive access to the Agents & Brokers Education Network, which offers both continuing education and online training.
4. Independent Insurance Agents of Texas Provides Memberships and Representation of Your Interests
Industry memberships and representation of your interests in the insurance field at the state and national level are important aspects of having your own independent insurance agency. IIAT membership provides professional representation of your interests before important legislative branches of government such as the U.S. Congress, the Texas Legislature, and the Texas Department of Insurance. You will also receive membership to the Independent Insurance Agents & Brokers of America, which provides an online informational database and a monthly magazine subscription to all members.
5. Membership Provides Access to Exclusive Independent Insurance Agents of Texas Benefits
Independent insurance agents with IIAT memberships enjoy exclusive access to members-only benefits. Agents will receive access to IIAT’s online technical reference library service, InfoCentral. Membership also includes access to IIAT’s members-only website which provides informative industry content as well as free publications such as “Best Practices.” Members can get prompt answers to their insurance-related questions and management issues with toll-free access to the IIAT staff. Additionally, members can enjoy the use of the Trusted Choice Consumer Agent Portal, an online search tool consumers can use to find independent agents. As a member you will also be able to access IIAT’s Job Board at the member rate. Finally, agents receive access to the Trust Choice national branding campaign for use at their independent insurance agency.
Independent Insurance Agents of Texas Membership Benefits Your Independent Agent Career
Whether you are considering an IIAT membership because of the access to industry resources, money-saving offers, continuing education and related materials, members-only benefits or because IIAT provides additional memberships to industry associations and representation of your interests at the state and national level, becoming a member of the Independent Insurance Agents of Texas will greatly benefit your career as an independent agent.
A career as an independent insurance agent is extremely rewarding. One of the reasons that becoming an independent insurance agent is such an attractive prospect to so many people is that there are numerous benefits to this choice of career. The financial and personal benefits that you will enjoy as an independent insurance agent include:
- Great pay
- Flexible hours
- Job security
- Invest in your own business
- Financial freedom
As an independent insurance agent, you will enjoy a competitive salary, flexible hours and job security, all while building your own independent insurance agency and achieving the financial freedom of which you have always dreamed.
Earn Great Pay as an Independent Insurance Agent
One of the most attractive benefits associated with becoming an independent insurance agent is that agents enjoy a competitive annual salary with additional earning potential in the form of bonuses and commission. With a median salary of $48,200 in 2015, an insurance agent’s annual earnings are extremely competitive. Receiving ongoing commissions and bonuses can further elevate your earning potential by thousands of dollars annually. Because your ability to earn money is under your own direction, you can earn as much or as little as you desire, based on your own financial goals. This freedom affords you almost limitless earning potential and financial success.
Work When You Want, as Much as You Want
Flexible hours make a career as an independent insurance agent incredibly attractive to those who want a rewarding profession without having to sacrifice time with their families and other pursuits. Agents can work around their own schedules allowing them to both balance work and home life. Also, flexible scheduling allows the agent to be available when clients are, such as during the evenings or on weekends, thus increasing the number of sales and profits you can achieve. The freedom of flexible hours allows agents to work on their own terms, at their own pace, according to their own schedules.
Agents Enjoy Unparalleled Job Security
Another desirable benefit of a career as an insurance agent is that it affords you unparalleled job security. Since insurance agents sell a product that every person needs and, in some instances, are required by law to have, your policies will always have a ready client base who actively need and want your products. A recent report from the U.S. Bureau of Labor Statistics projects the need for insurance agents to increase at a rate of 22% over the next decade—an 8% higher projected job growth rate than the national average. As an independent insurance agent, your career will stand the test of time and your profitability and success will be safeguarded against outside factors that may cripple other industries, such as recessions or other economic upheavals.
Independent Insurance Agents Invest in Their Own Businesses
When you become an independent insurance agent, you are investing in your own business instead of working to make other people wealthy. Here are 3 benefits you can expect from going independent:
- Every policy you sell and every new client you obtain is another step towards building a lasting and successful business.
- By applying your time, dedication and expertise, you are planting the seeds that will allow your independent insurance agency to flourish.
- The growth of your insurance agency is directed and maintained by your own dedication to success.
Take Charge of Your Financial Freedom
Becoming an independent insurance agent provides you with the opportunity to achieve financial freedom. By setting your own hours and selecting your own clients, your earnings are limited only by the time and financial goals you set for yourself. Because every dollar you earn is an investment in your own business, an independent agent takes significant steps toward financial freedom every day. Further, by becoming a licensed insurance agent, you are opening doors to other lucrative careers in the insurance industry that will allow you to continue achieving long-lasting financial success.
Independent Insurance Agent: A Rewarding Career With Lasting Benefits
By choosing a career as an independent insurance agent you are selecting a rewarding career with lasting benefits. Agents enjoy great pay, work flexible hours, and have unequaled job security while investing in their own business and taking steps towards achieving financial freedom.
You’ve seen the advertisements online and on TV. You’ve heard the claims.
It only takes a few minutes of your time to save hundreds of dollars on insurance premiums.
Is there any truth to this claim? In many cases, it’s shown that the insurance from these businesses often leads to customers receiving a drop in premium costs. This claim has been backed up by several testimonials and real numbers.
Results like these are attractive to consumers. Why refuse a good deal?
With every pitch, there’s a catch; a drop in premium is a drop in coverage.
You pay less for your premiums because there’s less coverage to protect you. Over the long haul, it becomes increasingly dangerous to stand by a plan without adequate coverage. Finding the right coverage takes research, and not all of us have the time to critically compare policies.
When clients work with an independent insurance agent in Texas, they have a new opportunity to explore all of their insurance options—not just the ones from the commercial.
Prioritizing your needs over bringing value to one company is what clients love most about working with independent insurance agents.
While a customer may save 15 percent on their insurance in 15 minutes, learn why many Americans still prefer to work with independent agents over a sole insurer.
How Independent Insurance Agents Differ From the Pack
Investopedia defines independent agents as professionals that sell insurance policies provided by multiple insurance companies. The agent receives commissions for those policies that they sell, but they are not an actual employee of the insurer.
This allows them more leeway when negotiating policy terms and finding custom solutions for their clients. Their priority is matching you with the best company for your needs, not vice versa.
Captive agents, on the other hand, are those that work for a single insurance company. They only show policies and options from that particular insurer and do not branch out.
5 Reasons Clients Prefer To Work with Independent Insurance Agents
If you’re an independent agent, you are your client’s best friend when it comes to securing insurance. You’ll work closely with your customers and always have their best interests in mind.
Here are five solid reasons why clients prefer to work with an independent agent over a captive agent:
- More Choices: We live in an age where consumers want to see all of their options before they buy. The same goes for insurance. Independent agents represent numerous insurance companies, which means clients have more choices regarding what insurance company holds their policy. Independent insurance agents can help their clients find better value for the dollar, and they do the shopping around – while the customer enjoys the savings.
- Local Knowledge: Captive agents are often working in one state while selling insurance for another. They have no knowledge about the community. As a resident, a customer wants an agent that knows the risks for the area and can protect their assets. For example, a local agent is more likely to know about flood-prone areas here in Texas – even if that area was not designated as a flood zone nationally.
- Customers Prefer to One-Stop Shop: When working with an independent insurance agency, customers take advantage of one-stop shopping. They can get policies for all of their investments, including recreational vehicles, automobiles, retirement, home, renter’s policies, and more.
- Consultants for a Lifetime: The internet has made life rather impersonal, but many customers still crave that personal touch. They prefer to use independent agents because they know that they have someone constantly reviewing their policies and looking out for them. They have a representative ready to assist them any time circumstances change, whether it is renting a new place, buying a home or even starting a business.
- Saving Money While Receiving Proper Coverage – Insurance companies attempt to reel in customers by promising lower rates, but with those lower rates comes less coverage. Customers enjoy working with independent agents because they can still receive lower rates without sacrificing the quality of coverage.
Becoming the Best Licensed Insurance Agent Possible – It Does Take Work
Not all independent agents are created the same. Each has their own list of insurers that they can access and many come from different learning backgrounds. Depending on their training and network, some agents find more success than others in their field.
If you want to make a difference and help clients with their insurance needs – all while growing a successful business – you need to become a licensed independent insurance agent and advisor. You can do this with Eagle.
As a reputable agency, the satisfaction of our clients is the cornerstone of our success. Get started on your new career path by making a quick call to Eagle Independent Insurance Agency today at 214-462-3344.
Artificial intelligence. Depending on whom you ask, it signifies either the fall of humans as Earth’s dominant species or a utopia in which people devote their time to meaningful pursuits, letting computers handle the mundane tasks of everyday life.
If you are an independent agent who read this article in Forbes, you may belong to that first group.
The truth, like so many things in life, falls somewhere in between those two extremes. Yes, tremendous advances in artificial intelligence, commonly called AI, already replaced many work components previously performed by people. However, certain tasks belong strictly to the realm of humans.
The goal of any independent insurance agency should be discovering how to leverage the advantages of AI with the strengths and unique capabilities of its licensed insurance agents.
Putting Artificial Intelligence to Work for You
Ever since Roman scholar Ulpianis developed the first actuarial table around 222 A.D., insurance agents have relied on data to determine risk.
Today, the complexity of data continues to grow and analyzing it often presents a challenge for agents. This is especially true when you add in the instant results most people now expect. Banks and other financial entities promise customers they’ll receive a credit decision in 60 seconds. Your customers typically expect similar response times.
AI offers a solution to the data analysis dilemma. You give your customers what they want – speedy, accurate data-driven decisions – while creating more time to focus on the aspects of your job that a computer cannot duplicate.
Move Your Focus to Your Strengths
People may feel comfortable relying on computers for numbers, but when it comes to asking questions and actually purchasing a policy, the human touch is key.
Think back to the days before you became a licensed Texas insurance agent. What did you want and need from an insurance agent? What bugged you?
If you’re like most people, you wanted information. You did not want to feel like the agent was trying to upsell you with scare tactics. Instead, you liked plain English explanations of what a policy covered and why it would benefit you.
Become the agent you wished you’d had as a customer.
The average person doesn’t have a deep, meaningful grasp of the industry. The role you should embrace in the AI era is that of educator and guide. This serves two functions:
- Fulfilling your customers’ desire for a deeper understanding of how your products meet their needs.
- Increasing upsell and cross-sell opportunities, driving both revenue and brand loyalty.
This is how you build and develop relationships with your customers. As their insurance needs change – families grow, houses and cars get bigger or more expensive – they rely on you to ensure their coverage is adequate.
Over time, through your education and guidance, not to mention good, old-fashioned customer care, you prove your value as their insurance provider. As their needs evolve, they rely on you to fulfill them. No AI system can match that.
Artificial intelligence is a real presence in the industry, but you don’t have to view it as a threat to your independent insurance agency. Take advantage of it, and focus on the human element. You and your customers get the best of both worlds.
Even though some jobs are becoming more automated, selling insurance as an independent agent is here to stay. Contact Eagle Insured Advisors to find out more about becoming a Licensed Client Advisor.
Building up a book of business is a key part of accomplishing personal goals as an independent insurance agent. The challenge is determining the right tools to reach out and connect with a potential client. By identifying the tools that help with personal goals, individuals can focus on the specific tools while limiting the use of alternate solutions.
1. Social Media
Roughly 46 percent of individuals using the Internet look at social media when making decisions about purchases. By integrating and using social media accounts as part of brand recognition and building up a book of business, an independent agent encourages individuals to consider his or her services.
- Create a social media account and keep it up-to-date with the latest industry news
- Connect with current clients and allow their friends, family or online contacts to find out more about insurance agent services
- Allow clients to comment about personal services on the social media pages
By creating content, an agent obtains the trust of potential clients and encourages them to reach out when they need a new insurance policy.
2. A Website
Building a website is an online tool to help generate interest in insurance and the services an agent offers. Every business needs a website to connect with potential clients. It is not necessarily difficult to set up a website due to the large number of different free tools available for the purpose, but an agent must set up a blog or a website to keep up with client preferences and goals.
Focus on creating content for the website rather than setting up the details. Work with a simple online tool to create the actual website to limit the complexities and develop a user-friendly online presence.
3. E-Mails or Newsletters
Newsletters are a strategy that uses online or physical tools to reach a target audience. Although it is primarily focused on current or existing clients, an agent can send out a newsletter through the mail to local residents or use an e-mail system on a website to send out the newsletter to any interested party who requests the information over the website.
Focus on providing relevant information about the insurance industry, things to watch for in a policy or similar stories in the newsletter to encourage potential clients to consider an agent’s services. Limit advertisements in the newsletter, since it focuses on providing information.
4. Direct Contact with Potential Clients
Direct contact with individuals means taking measures to talk to a client or potential client in person. Reach out during local events by setting up a booth or talk to others during a party. Get involved with the community and meet individuals directly. By talking to the person, an agent gets a feel for their goals, interests, and passions. The active knowledge about the individual allows an agent to connect with the person on an individual level.
Setting up a book of business requires a combination of physical and online tools. By using online tools, an agent builds up a sense of trust. The physical tools reach out to a larger audience or a targeted local area. By combining both strategies, an agent builds up a book of business for long-term goals and success.
Contact Eagle Insured Advisors to find out more about becoming an independent insurance agent.
The insurance industry consistently changes and alters to keep up with the needs of different groups and individuals. By understanding the changes and expectations that may occur, as well as the individuals selling insurance policies, a professional clarifies his or her goals and starts taking appropriate steps to accomplish specific tasks.
Trends in the Insurance Industry
The insurance industry is a growing area of finance due to the growing awareness of potential risks individuals face when obtaining property or investing personal funds. By understanding the trends in the industry, a professional has the tools to assist individuals with their goals for the future.
Certain types of insurance policies are expected to grow due to economic factors. As the economy improves and more individuals start investing in the growth of the country or the economy, property insurance and similar types of policies are likely to increase as well. Insurance depends on the needs of the population. During an economic crisis or times of limited growth in the economy, property policies or similar coverage options tend to decrease due to concerns about the economic factors.
As the economy improves, agents will see an increase in the number of individuals purchasing new property and obtaining new insurance policies. Insurance policies are a type of risk management, so a policy is only required when individuals actively purchase property or have specific concerns to address.
What to Expect in the Future
The future of the insurance industry is positive. The industry is growing at a rate of roughly 9 percent per year, which is faster than average for the finance industry or career opportunities in general. Due to the high level of growth within insurance, individuals can expect more agents to consider a career in insurance and more policy options based on specific concerns or needs.
A key challenge with insurance is re-insurance. Since insurance providers are consistently changing their strategies and offering new discounts, deals or options, clients are more likely to look at new policy options when their current policy expires. An agent must be aware of their client’s goals and interests to
- Assist with their needs
- Prepare in advance to help clients find a new policy
- Improve their experience
- Limit the complications of legal jargon
Insurance providers and agents must also be aware of the changing dynamic in relation to technological advances and goals. More individuals use technology to find an insurance policy or agent, which means a professional must have a presence online to keep up with client demands.
Who is Selling Insurance
The current trends and future expectations of the insurance industry closely relate to independent agents working for clients and their goals. The Bureau of Labor Statistics reports that career opportunities are growing; however, the types of policies individuals need consistently change and alter based on a variety of factors.
A larger number of agents are young professionals who plan to build a career. Agents may also be older individuals with experience in financial careers or related careers, so clients can work with a variety of different agents.
Due to an aging population, a large focus of the insurance industry is growth in the health and life insurance areas. Furthermore, individuals will need auto or home insurance as a larger portion of the young population starts purchasing properties or getting involved in investments.
The insurance industry is consistently changing and the outlook for the future is mostly positive; however, certain challenges are arising due to increased online activity and changing economic factors. By understanding the needs of clients and working on their specific goals, an agent has the tools to manage their risks with appropriate policies or coverage plans.
For more information on becoming an independent insurance agent, contact Eagle Insured Advisors to have a better work-life balance and begin your new career.
Building a new career as an independent insurance agent provides the opportunity to accomplish personal goals without giving up on work-life balance. A key challenge associated with career management is determining when to take a step back and consider other options.
Focusing on Personal Goals
Young insurance agents benefit from the independence associated with a career as an agent. Since a young agent sets personal goals for success and growth within the industry, each person has the opportunity to focus on accomplishing each step of the goal without answering to other parties.
The level of focus on a personal level allows Millennials to build their career at their own pace and reach any level of financial success they hope to achieve. They have the flexibility to create and develop a personalized plan of action when building a book of business.
Taking Advantage of Online Tools
Millennials have an advantage when it comes to building a career as an independent insurance agent because they have experience with online tools and systems. The level of experience on social media, websites, and blogs allow young professionals to reach out to clients in different locations and areas without talking directly to the individual.
Even though they do not actively solicit business through online sources, agents can use social media or similar tools to keep their current client’s up-to-date with new information about the industry and policies available. Agents also encourage others to reach out for assistance when they need insurance in a local area. The insurance industry is growing at a steady pace, so young agents have opportunities to help others find the coverage and insurance policies they need for their assets and goals.
Developing a Personalized Schedule
The key factor that makes a career as an independent agent particularly appealing to young professionals is the personalization of a work schedule. Professionals set their own goals and work schedule, which allows the individual to have a reasonable work-life balance.
Millennials and young insurance agents enjoy the flexibility of their work schedule. They set their own hours and use different tools to build up a career and business. By setting a schedule that works around a personal situation, individuals have the chance to focus on income goals, build relationships with their clients or help others with their concerns.
Young insurance agents set their own hours, which provides a healthy work-life balance. They only work at convenient or appropriate times for their specific situation.
3 Ways to Make the Most of the Time at Work
- Management- Building a career as an independent agent at a young age means individuals take advantage of the time they spend on building a book of business. Instead of wasting time due to boredom or a lack of interest, an independent agent makes the most of his or her time actively seeking clients by focusing on each challenge and task at a specific time.
- Focus- The level of focus in a career increases while building a career as an independent agent at a young age due to the flexibility of the career path. Individuals determine when they want to work and then they focus on accomplishing specific tasks or reaching specific goals during the time they set aside for the work. By focusing only on the career goals, a person maximizes his or her potential and starts accomplishing the steps required to build a book of business.
- Balance- A career in insurance provides opportunities for young professionals in the finance industry. As an independent agent, young individuals have a better work-life balance and the chance to reach for financial success. They face unique situations that allow them to enjoy the career path, even when challenges arise. The process of building a book of business and improving a career path takes time but ultimately provides greater flexibility and freedom when focusing on success or long-term plans for the future.
Contact Eagle Insured Advisors if you are considering a career as an independent insurance agent.
Working as an independent agent provides an opportunity to accomplish personal career goals, including the opportunity to hire other agents. The challenge of hiring a new agent is finding the right professionals for your goals and plans. Recruiting a new agent provides benefits for your career goals and it helps you reach out to more potential customers.
Enthusiasm plays a key role in the hiring process because it shows interest in the insurance industry. When you decide to recruit an agent for Eagle Insured Advisors, it improves your opportunities and growth. The individual helps you accomplish your career goals and you work together as a team. An enthusiastic attitude allows you to ensure the individual has an interest in reaching out to potential clients.
2. Specific Skills or Experience
Although experience in the insurance industry is not a necessity when you hire an agent, having certain skills related to sales and insurance helps improve his or her ability to adjust to a new career path. Ideally, you want to hire an individual with experience working in insurance or a related field. Individuals with the ability to put their skills, education or experience into action help them accomplish specific goals for a business.
Hiring an agent with limited experience does not necessarily mean he or she will not bring skills to the work environment. If an individual has limited experience, then evaluate his or her skills. Discuss the application of specific skills, such as the application of using social media or other online tools to connect with potential clients. Experience does not always directly relate to the process of assisting your clients or potential clients.
Confidence is a key consideration when hiring a new agent. A confident individual takes the time to listen to the needs of a client and then works out the best option for their goals.
During an interview or a conversation, you can determine if a potential agent has the confidence to reach out to new clients. A lack of confidence impacts the ability to assist clients because the individual will not stand up and offer better choices based on the client’s goals and situation.
4. Communication Skills
An independent insurance agent must
- communicate effectively to accomplish any goal
- produces results.
The challenge in producing results when working in the insurance industry is communication and the ability to talk to potential clients.
Even though some clients may prefer to use tools like social media to find an insurance agent or to obtain assistance with their insurance goals, individuals may also want to talk to an agent directly or over the phone. Effective communication skills mean the individual has the ability to explain a potential policy clearly and precisely in any situation. Ideally, you want to work with an individual who uses concise language, listens to the client and has the ability to break down complex ideas for easier understanding when clients have concerns about a specific policy.
5. Ambition or a Desire for Growth
Ambition is an individual’s interest in growth in a career. An individual without ambition will only handle the minimum amount of tasks. Ambitious individuals recognize the importance of actively seeking out new clients or working to accomplish a specific goal. The individual should have the drive to work toward a goal without prompting.
Ideally, you want to hire an individual with a desire to grow and improve as a professional. Since a Licensed Client Advisor through Eagle Insured Advisors is an independent agent, he or she needs the ambition to keep striving for improvements.
Business Insider points out that individuals face challenges with
- time constraints
- busy schedules
Hiring a new agent requires a creative thought process to handle any challenges that arise or to manage his or her time in an effective manner. You want to work with an individual who has the ability to creatively manage problems without wasting time or discouraging potential clients from considering a service.
The process of hiring a new agent allows you to improve your skills and build up a solid business. Since you work directly with the individuals you recruit, you want to take the time to hire the right individuals by evaluating their skills, experience, and ambition.
Owning an insurance company requires careful planning and preparation. As a business owner, you face specific challenges throughout the process of setting up and establishing your company. By recognizing the challenges and problems you may face, you have the tools to start preparing a plan of action to address the situation.
Building a Book of Business
An insurance company requires a solid book of business for long-term success and growth. The book of business is the foundation of any successful insurance company, so individuals must focus on developing a solid book of business.
The challenge of establishing your insurance company is the branding and company recognition. A potential client wants to know what your insurance company offers and what to expect from you as a professional. Individuals have specific goals in mind when purchasing a new policy and their independent agent plays a key role in finding the right policy. At Eagle Insured Advisors, an independent agent has a brand to build on and improve recognition among potential clients. It provides the tools you need to build up a strong foundation by helping you connect with potential clients.
Resource management is a key part of a successful business. Depending on your goals as an insurance agent and company owner, you may discover the challenge of managing your profits and losses for an appropriate level of balance.
Resource management refers to the use of funds to accomplish your goals.
A key factor involved in the insurance business is the possibility of:
- limiting your costs
- developing a reasonable profit margin
By working with multiple clients and focusing on helping the individuals, you reduce the risk of complications when related to resource management.
As a general rule, any business owner should develop a plan of action for budgeting. Even if you intend to stay in a localized area for your book of business, you may need funds for transportation and advertising. Set up a budget to prepare for the costs of owning a business. Even though Eagle Insured Advisors has an established brand, you still need to actively work with your potential clients to help them accomplish their personal goals. It may mean you need to travel to the client, which does require some funding.
Manage the resources by setting up a limitation on your business-related spending. For example, set aside a reasonable amount for travel-related costs or other expenses associated with building your book of business.
Business owners avoid taking breaks from work and often work long hours. You may overlook the possibility of over-working when you first start building your book of business. Although the excitement of taking on a new challenge may help you ignore the signs of feeling tired or worn out, you should always prepare for the possibility by taking regular breaks.
- Set up a schedule for your work.
- Do not stray from your stated schedule, even if you feel that you can handle more tasks.
By preparing for fatigue, you prevent excessive exhaustion and actually work more effectively during your work hours. Plan for fatigue by setting up clear breaks in your schedule and arranging reasonable hours. Give yourself time for regular meals, sleep and basic care.
Although you may expect a certain amount of competition, Forbes suggests that the level of competition is consistently growing and increasing. Independent agents at Eagle Insured Advisors must prepare for competition by using multiple tools and strategies to keep up with client preferences and demands. For example, set up a social media page to help connect to your clients. Give them several ways to get in touch when they need assistance, even if it is an exchange of messages on a social media website.
Owning an insurance company does not necessarily mean you have the ability to step back and enjoy the profits of a company. Certain challenges and problems still arise, including the possibility of losing clients over time. By taking measures to keep up with your competition, setting a clear schedule and working on consistently building up your book of business, you gain success as a company owner.
Working as an independent agent through Eagle Insured Advisors offers the flexibility to focus on personal career goals. Independent agents have the freedom and flexibility of an entrepreneur, but they also have the challenges associated with an independent career path. Reaching your target market, or target audience, is a key part of your success. By identifying your market and then focusing on developing effective connections, you improve your book of business and develop a successful strategy for your career.
Start Broad and Work to a Smaller Group
The first step of identifying your target market is focusing on the services you offer. As an independent insurance agent, you assist with the search for appropriate coverage for cars, homes and other assets or concerns.
From a broad perspective, your target market is any individual looking for insurance coverage in your area. Unfortunately, that target market is too large to connect to the individuals or groups you want to reach. Instead, use that broad category as a foundation and then break it down into different groups. For example, you may focus on families with more than one vehicle or families with teen drivers. Alternatively, focus on single men or women looking for budget-friendly auto coverage.
Depending on the target market, the method of connecting to the individuals will differ. Break down your target market by getting as specific as possible about the situations your clients will face when seeking insurance coverage.
Identify Your Value
Reaching your target market requires clear ideas about your value to the client. Clarify the tools, services or unique aspects of your strategy that make you ideal for your target market. For example, if you have a growing family and you plan to work with families, then your perspective as a family-oriented individual sets you apart. It provides common ground and brings value to your advice because you have similarities to your target audience. The value comes from your perspective and your common interests.
When you do not have a common factor helping you connect to your target market, your value may stem from your specific skills, your experiences in the insurance industry or even your experience in other industries. Identify the specific details that make you the right professional to assist your target market with their goals.
Make Use of Social Media
After identifying your target market and the value you bring to the individuals, focus on connecting to the target market through social media sources. Social media provides an outlet to share your experience, skills, and services. It also allows your current clients and your target audience to keep up with your business.
Social media is a marketing strategy that focuses on word-of-mouth. It is a modern method of sharing information and recommending a professional to others in a similar situation.
- Set up social media accounts as an independent insurance agent
- Keep the accounts up-to-date
- Use the account to share content or information about the industry
- Answer questions from clients or potential clients related to the industry
Attend Events and Talk to Individuals
While social media offers an online marketing solution, it is still necessary to network and market through direct contact with individuals in your target market. A simple way to reach out is through local events and activities. Set up a booth during summer events or attend an event with several individuals in your target market.
Spend time talking about various topics. Do not only focus on your business; instead, get to know the individuals at the event. Ask about their interests, hobbies or families. Get to know your client base as individuals through normal conversation. Talking is a powerful way to connect with others, especially when you want to help individuals or families with their specific goals.
Identifying your target audience is a simple process of clarifying your preferences and your local community. It also clarifies your specific skills and unique qualities. After you identify the right target market for your career goals, you can then focus on connecting through Internet sources and face-to-face interactions.
Working as an independent insurance agent can help you broaden your career goals. Talk to a representative at Eagle Insured Advisors on how you can start your new career now.