Advice To A Young Insurance Agent

An insurance agent contacted me last night asking for free advice.  He is losing business to another agent in town, and blames it on dishonest behavior by the other agent.

Here is my advice:

Free advice is worth what you pay…

From what you describe you don’t have a solid relationship with the buyer.  Price is an easy excuse – my bet is that there are other things going on.  Agents never lose business just because of price.  The buyer will tell you that is the reason – but there is always something else.  I buy thousands of insurance policies every year from agents – I move business often – price is never the sole reason. NEVER.

Others will be dishonest – move on.

Never bad-mouth a competitor to a client – you never look good doing so. It always comes off as petty.  Live to fight another day.

Consider preemptive action when working with a client – “Here is something that you should watch out for when other agents quote your insurance…”

Your professionalism is paramount.  Be more responsive.  Know more.  Read more.  Provide more service.  Make yourself so valuable that the client will never want to have a claim without you standing by his side.

Good luck.

Regards,
Scott

Scott Simmonds, CPCU, ARM
Insurance Assurance Consulting
Phone: 207-284-0085
www.ScottSimmonds.com