Tips To Manage Your Portfolio As An Insurance Agent

One of the most complex tasks to be an insurance agent, when you have already created a customer base and master the art of prospecting, is the management of your contact portfolio.

Properly managing your client portfolio will help you grow it, generate more revenue, and keep your business stable. In this article, we will share some tips for the efficient administration of your portfolio of prospects.

  1. Identify certain traits in your prospects

It is important to take into account the age and stage of life of your prospects since, for example, a couple who just had a child will be more interested in acquiring insurance for their education than in acquiring auto insurance.

We advise you to observe the socioeconomic level of the client to know the type of product that may need / interest the client and that the one you recommend is within reach of his possibilities.

If you find a prospect who already has an agent but is not satisfied with it, it is a good opportunity, since half of the work is done. He is aware that he needs insurance, and it is only a matter of showing him that you are his best option.

Take into account the high seasons, and it is good to always keep in mind what are the months of the year in which people and companies are more likely to acquire or renew one (or more) insurance policies. For example, in April as the annual tax return, people are sensitive to the issue of a tax incentive for retirement insurance, or even medical expenses.

Another example is at the end of the year, as those who are employees receive the bonus, so it is an excellent strategy to position yourself before those dates to suggest a smart purchase.

You can suggest the purchase of other insurance from a customer who has previously purchased another product with you, and this is cross-selling.

  1. Be orderly when managing your contact base

For a new agent, it is advisable and easy to organize with excel, the trick is to do it the right way.

We advise you to classify your customers by branch:

  • Company damage
  • House damage
  • Medical/health expenses
  • Life insurances
  • Car Insurance
  1. Keep in touch with your customers to generate new opportunities

It is an excellent idea to set reminders one month before the expiration of the policy of each contact, and this will be useful to notify your customers in advance and help them prepare, this will help you to be more effective when receiving payment promptly.

A good idea to be present in the minds of your customers is to send them a congratulatory email on their birthday, especially in the case of medical expenses and life since these are usually the most profitable.

Remember that this business is to foster links with people, the benefit of being present is so that they do not see you as an “insurance salesman,” but as an advisor who is on the lookout even when your services are not required.

  1. Communicate news and news

Having a monthly newsletter is an excellent option for you to communicate about news and provide useful tips to your customers.

The most advisable thing is to have it divided by branch: auto insurance, medical expenses, life insurance, etc. This gives your business a degree of credibility and trust, as your customers will feel that you are the most prepared to answer them and solve their doubts.

We hope this article will be useful for a better administration of your client portfolio as an insurance agent to make the most of each contact and grow your business.

How to Pick a Great Insurance Agent

How to Pick a Great Insurance Agent

It’s important to choose the right insurance agent. After all, this is someone who you want to have a long term relationship with and who can provide expert advice. You wouldn’t buy a home or a car without doing research beforehand. The same goes for the insurance agent you have on your side. But what should you make your decision on? Here are the most important aspects of picking a great insurance agent you can trust:

Ask for Referrals

A great place to start with any service is to ask your inner circle for referrals. This could come from your immediate family, friends, or colleagues. When asking, try to learn what the like specifically about their insurance agent. Do they offer great customer service? Are they quick to respond to inquiries and issues? Do they seem like they understand the space? The great thing about referrals is that you’re getting the perspective of another customer just like you.

Determine if Location is a Priority

Being able to ask questions and get answers from your agent is paramount. It might be a priority for you to have local offices near you. This way, you can visit in person or have the option to use the phone if you prefer. You want to build a relationship with your agent so that they can predict your needs and suggest the right insurance package based on what you’ve told them in the past. Local insurance agents demonstrate their commitment to being involved with you are your community for the long run.

Go to Their Website

Websites are like a modern day business card. They contain all kinds of information you can use in your search for the best insurance agent for you. Read as much as you can about the company and the agents. Sections like their bio, history, and customer testimonials are gold. In addition, consider how easy their website is to navigate. Can you find information on price quotes, appointments, and contact details without any issues? These are signs you’re going to be in good hands.

Look at their Credentials

Insurance is one of the most important ways to protect what you care about most: your family, health, financial security, home, business, and more. A knowledgeable agent will make all the difference in the world. As a starting point, you can look at their licensing and credentials to make sure they have the proper training and expertise to provide guidance on the insurance coverage you select. Our agents not only have the right credentials, but they also continue to educate themselves to keep up with changes and trends.

Interview the Agent

Online information from websites and other sources can give you a great overview of the type of insurance company and agent you’re working with. However, talking to your potential insurance agent in person or over the phone is key. Interview them to screen for the right fit. Consider their personality, customer service, knowledge, and willingness to adapt to your specific situation.

Expertise and Trust are Essential

Verify that the agent you’re considering has the proper knowledge for your insurance needs. Share with them details about your lifestyle and preferences. Based on that, ask them to explain the policies and coverage packages that they offer. In addition, ask them for suggestions that you may not have thought of yourself. They should have the utmost integrity. You need to be able to trust them with helping you choose the best combination of insurance based on your needs.

Choosing your insurance agent is not something to jump into. You want an agent who is knowledgeable and trustworthy with a great reputation. Our agents pride themselves on connecting our customers with the right insurance policies now and for the long term. Contact us today and see how we can help you protect what matters most.