Super Agent

4 Strategies Agencies Must Embrace to Create Exceptional Insurance Producers

One of the unfortunate aspects of our industry is that far too frequently agencies hold on to under-peforming Producers for too long.
Equally as unfortunate is that few agencies have a process or plan to improve producer performance. I’m not sure why this is the case, the cost in lost opportunity, time and resources is significant.

There are a number strategies that agencies can incorporate into their producer on-boarding process that can enhance producer performance and reduce the costs associated with Producer under-performance

Strategy #1 Define Expectations

Often, agencies focus on the revenue expectations only. We believe that revenues will be met, if other more fundamental expectations are insisted upon. They include,
adherence to a sales/agency culture and working with only the types of clients the agency has the capability to service consistently and effectively.  In addition, agencies must hold Producers accountable to a effectively implementing the agency’s adopted sales process (if there is one). While these are fundamental expectations, unless they are communicated and measured, Producers performance is likely to wain.

Strategy #2 Demand Performance

Here again, revenue is the outcome achieved when producers have successfully performed their role. Some performance activities that we believe are non-negotiable are the development and execution of a Producer business plans, alignment with internal and external stakeholders goals and objectives and continuous self-improvement through on-going education and professional growth activities.

Strategy #3 Measure Performance

If revenue is a lagging indicator of success, what key performance activities are Producers required to perform in order to reach their financial goals and objectives. How many phone calls, first appointments, messaging campaigns, and networking opportunities need to occur in order to meet revenue goals. How are agencies validating Producer capabilities? Skills validation must include not only a revenue component, but a Producer’s ability to advance the sales process.

Strategy #4 Intervene

For heavens sake….Intervene! Is there an agency plan in place to coach up under-performing producers or are they left to wither on the vine? Is there a strategy to liberate Producers that just can’t produce regardless of the resources thrown at them?
Like all important initiatives, creating exceptional producers requires planning, goal setting and implementation!

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