When you’re running an independent insurance agency, organization is key. Whether it’s workload, employee production or numbers, not being organized simply makes running your agency more difficult. This is especially true when it comes to the last point—numbers. There are countless agencies out there who lack either the tools, sophistication or drive to effectively manage and organize numbers. Whether it’s sales, renewals, account rounding, etc., if you don’t keep a record of these things, how will you improve? How will your agency grow?
If your agency doesn’t have a system or a process or simply would like to improve on your existing one, it’s not as difficult as you may think. While it’s certainly hard work, the benefits of number organization can be a game changer. What makes tracking numbers so beneficial is that you are able to see your agency’s growth, which we can agree is pretty important, right?
Numbers Don’t Lie Yes, numbers do not lie. At all. Someone at your agency should be in charge of tracking all sales, profits, and renewals in a database in the form of a spreadsheet. This should be kept in a place where you or the agency owner/manager can easily access them whenever they need to. In addition to providing information from a macro standpoint, tracking numbers also tell you which employee may be performing the best overall. Obviously, you’re probably going to want to know which agent or employee is performing up to the standards your agency sets. Tracking
Numbers = Tracking Goals When your agency sets goals, we’re sure that some of them have a number tied to it. Let’s say one of your goals is renewing a certain amount of accounts for the month of April—how are you tracking that? If you set a goal like this, will you know where you’re at in relation to the goal? See, numbers can also play a part in achieving the standards you want your agency to meet. Everything is relative. Remember: putting a system in place to track your agency’s numbers will benefit you from a macro and micro standpoint. You will know exactly where your agency stands and you will know where you are in relation to your goals and growth.
About the Author: Nathan Dagley is the Founder of Dagley Insurance & Financial Services, Inc., with offices in Texas and Colorado. He is responsible for the strategic direction of the company and brings leadership and vision to DIFS.