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A healthy book of business is not discovered - it is developed. It is also characteristic of a healthy agency. Successful agents have been able to avoid the feeding frenzy created by the soft market and the financial hardship that accompanies it by investing their time and energy into the client organizations that created their success.
They save their clients money through sound risk management practices rather than shifting markets and they have established a service reputation that is beyond reproach. New business opportunities flow to these agents through a referral network and they are discriminating when selecting which opportunities to pursue. They tend to avoid the bidding process, as do their clients, choosing instead to build steadfast relationships that extend beyond insurance.
As the market hardened, these agencies continued to thrive as the integrity of their risk management and loss control programs greatly enhanced risk evaluation, book profitability, and carrier relationships. They are proactive, efficient, creative, and energetic. These agencies are financially sound, expertly managed, and culturally nourishing for clients, carriers, and employees.
This is not the agency of the future; this is the agency of today and the agency that you and your peers should emulate. See it, and see to it.
For more information on this topic, please consult the website (www.goPolestar.com) and or the recently published book “Hard Market Selling – Thriving in the New Insurance Era” available through the website and at Amazon.com or Bordersbooks.com.
Scott M. Primiano is the president and founder of Polestar Performance Programs, Inc. (www.goPolestar.com), a premier consulting and sales management company in the insurance industry. Primiano is the author of “Hard Market Selling--Thriving in the New Insurance Era.”
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