In the same way that colleagues help each other out in office environments, insurance partners too can help other insurance partners. While it might seem like every other insurance partner is your direct competition, that’s not the case at all.
Instead of treating other agents like your enemy, treat them as a support person. You may find that having a friend in your industry is more helpful than having competition. Here are four ways that insurance partners can support each other.
Whether you’re a start-up independent insurance agent, or you’re better established, you will soon realize that every day is the chance to learn something new. However, the best way in which to learn new things is by talking to others in your field. By connecting with other insurance partners, you’re not giving away all your trade secrets. In fact, you’re merely getting and giving advice of which can be a valuable experience.
Other insurance partners may have a better approach to securing leads, or they may know of a sure-fire way to gain leads from email marketing. Everyone has a method that works for them and sharing this with others is not going to be detrimental to your success. For everything you give, you are sure to receive it back ten-fold.
Building and maintaining connections with other insurance partners can not only lead to newfound friendships, but it can also help you to establish new leads. If you pat their back, they will pat yours.
Every insurance partner has their preferred niche or area of expertise and not every customer inquiry is going to be something you can help with.
However, there’s no harm in taking that customer’s information and referring them to another insurance agent. You may find that if they come across a customer they can’t help, they’ll send them your way as well.
The insurance industry is ever-changing, with new rules, regulations, and guidelines by which to abide coming in all the time. Often, these modifications to current guidelines can mean you have to further your studies or educate yourself on best approaches for various situations. If you struggle with studying or need help or information, there’s never any harm in talking to other insurance partners.
They may be in the same boat as you or can point you in the right direction of helpful information. The best part is, forming a relationship with another insurance agent or agency means you can always bounce ideas off each other for the betterment of the industry.
Unlike captive agents who answer to one insurance carrier, independent insurance agents can select products from various providers to suit their clients. However, it can be challenging to establish relationships with leading insurance providers to get the best deals.
If you first establish relationships with other insurance partners, you may be able to get names and contact information for people at high-end insurance carriers. If you’re lucky, they may even help you to set up appointments. Being able to tap into insurance companies for the best deals is crucial to your success as an insurance partner.
There’s no denying that insurance partners do, to a degree, compete with each other for their market share. However, building relationships with other insurance partners can more often than not be more beneficial than detrimental. Benefit from support, leads, connections, and you may even find you form a new friendship as a result.