Developing Your Insurance Business

Developing Your Insurance Business

How do you build your insurance agency in a way that will be sustainable in the long term? Sensible business growth needs support, and organizations like the American Agents Alliance are here to help you in that growth.

As you expand your business or find new niches, here’s some of the support you can receive to help you grow your business.

Preferred Market Access 

As you build your book of business, working with an organization like the American Agents Alliance can help you in your development. Write through quality preferred appointments and earn direct appointments through this Preferred Market Access program (for CA agents only). Your CA insurance agency can earn appointments with twelve or more companies including:

  • AEGIS Specialty Insurance Services (Personal Lines)
  • Mercury Insurance (Personal Lines)
  • Progressive (Personal & Commercial Lines)
  • Stillwater Insurance Group (Personal Lines)
  • Travelers (Personal Lines & Commercial Lines)

It can be hard to grow an agency from the ground up: for CA agents this program gives you the opportunity to work with those you want to work with right from the beginning.

Live Calls and Lead Nurturing 

Finding new business is always a challenge, particularly at a time when you are intentionally trying to expand. This is where live calls and lead nurturing come into play.

There are layers to securing new insurance clients, and working with an organization to find new leads works on all of these levels: Answering and directing inbound calls so that new prospects go to your agency.

Automated lead nurturing programs ensure that your clients receive ongoing communication that works specifically for them. According to the  DemandGen report, “nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads.” However, that doesn’t mean that a human needs to do all of that work. Automating parts of your lead nurturing saves your time so that you can communicate with those who have questions that only you can answer.

Coaching and sales training helps your employees when they do talk with a client. This includes scripting, overcoming objections, and closing. According to the  CPSA , “the valuable information that you need to succeed in sales is not static; it’s constantly changing, adapting, and evolving with markets, technologies, and social nuances.” Staying up to date on your sales training means that you know how to communicate well with today’s insurance audiences.

Protect your agency and your clients with E&O insurance 

E&O Insurance 

As your insurance agency grows, so too do your potential risks. Errors and omissions are part of everyday life. However, when they impact your clients, those clients may choose to sue your insurance agency due to the impacts that your errors have had on their emotions and finances.

Thankfully, there are options to cover court costs and settlement costs. E&O insurance is specifically designed to assist insurance agencies that need to make sure that their business will survive this kind of legal concern. As your agency grows, invest in practices that protect you and your clients, but also invest in E&O insurance.

At the American Agents Alliance, we have your insurance agency covered. Whether you’re looking for discounted E&O insurance or preferred market access, we’re here to help you find what you need at an affordable price. Contact us today to learn more about the spectrum of our membership benefits.

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