Insurance Journal's Academy of Insurance
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The most significant competition for an insurance agent is not another insurance agent, but the “status quo.”
The most significant competition for an insurance agent is not another insurance agent, but the “status quo.” About 87% to 92% of employers renew with their current agent year after year, because there is no compelling emotion or reason to make a change. Most agents struggle to effectively address the question, whether it is stated or not, “Why should I hire you, as opposed to anyone else?” This is the primary reason most employers stay with their current agent.
Agents are often their own worst enemy as they frequently engage in a sales process that actually creates barriers to getting hired. The world changed dramatically in the Fall of 2008 following the Great Recession, and many agents have been slow to adapt their sales processes to the align with these changes. Decision makers are more overwhelmed, stressed, and entrenched in the status quo. It is more difficult than ever to facilitate a change to you and your agency, and it is not going to get easier when the economy recovers.
Participants of this Webinar will learn: