InsuranceNewsNet January 16, 2019
By Dan Pierson
In my career, I've
had the privilege of working with some of the most successful insurance
advisors in the country, helping them to find a place for large, hard-to-place
cases, resulting in millions of dollars in commissions.
I have served on
multiple insurance carrier advisory boards and participated in a global think
tank about the future of life insurance. The people I have worked with are all
smart, dedicated and hardworking insurance professionals. They are mostly Forum
400 advisors who work with clients whose net worth exceeds $100 million. They
are also great teachers.
I’ve learned some
lessons from watching top advisors do the things that make them so successful.
However, many other lessons have involved noticing what other insurance
advisors either didn't know how to do or were not willing to do.
1. Top insurance
advisors invest in their business.
The phrase "it
takes money to make money" is definitely true in the insurance business.
Virtually all successful insurance advisors invest heavily in their businesses,
whether that means hiring a coach, marketing their practice or investing in the
latest technology.
2. They invest in
their staff, and they delegate, too.
Successful
insurance advisors realize that everyone has a unique ability and a particular
talent that they excel in. A good insurance advisor's talent is being able to
connect with clients, understand their needs and gain their confidence so that
the client or prospect feels comfortable taking appropriate action.
Top advisors do not
focus on routine tasks like filling out paperwork, running quotes, handling
customer services calls or doing other administrative work. The best advisors
find, hire and train the right people to do these things. In this way, they
give themselves the time to do what they are good at and should be doing -
interacting with their clients.
3. They spend their
time wisely.
The insurance
advisors I have worked with realize that their time is as valuable as their
money. They make sure that they are working smart, not just doing busy work.
For example, you won't find these advisors spending time learning every detail
about an insurance product they are unlikely to ever sell.
4. They put their
clients at the center of their business universe.
Top insurance
advisors make their clients the focus of their business universe. This means
not only doing what is best for their clients (that's a given) but also
providing their clients with an expected and repeatable experience, putting
themselves in their clients' shoes and working tirelessly to provide the tools
and resources necessary to help their clients with their needs. For most
advisors, this means putting in place some type of technological platform as
well as specific, well-defined processes and procedures.
Do you employ these
four tenets? It's not too late to adopt them and make them an integral part of
your business life. I've seen many advisors change their entire practice,
exponentially increase their revenue, and improve their client relationships
simply by incorporating these four points. Does this sound like a plan you can
get behind? Why not make 2019 a new year for you?
Dan Pierson is founder and chief marketing officer of
LegacyShield Solutions. Dan may be contacted at dan.pierson@innfeedback.com.
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