INDEPENDENT INSURANCE BROKERS CHOOSE TO BE INDEPENDENT
Their concept is since the insurance company is rarely paying any of their expenses, then the insurance or brokerage companies should not control them. Very important is the fact that independent insurance brokers are free to choice whom they license with and who is no longer providing the service or products they expected. The insurance company fails to realize how important these larger producers are to them.
WHAT INDEPENDENT INSURANCE BROKERS EXPECT
1, To be able to expand their product line with new variations of familiar products
2. To be compensated at high commission rates, without too many layers above them
3. To sell the products that THEY want to sell, not just the ones most profitable to the insurance companies
4. To have instant service and problem handling done not by them, but the insurance carrier
VALUE OF AN INDEPENDENT INSURANCE BROKER
1. As a group they average 7.3 years experience. This is 4 years beyond the 90% turnover stage.
2. In the next 18 months they will probably drop their contract with 2 insurance companies.
3, In the next 18 months they will probably sign new contracts with 2 or 3 different insurance companies.
4. Independent insurance brokers are likely to be sell more life and financial products than health insurance
5. They earn more than semi-independent brokers, who are still an agent for an insurance company yet broker cases to outside insurance carriers
6. More leads from possibly interested brokers turn into contracts and then production than any other style of agent.
INSURANCE COMPANIES & INDEPENDENT MARKETING ORGANIZATIONS ARE OFF TRACK.
1.First they need to eliminate any broker that has not produced business within the last 12 months.
2. They have to identify the independent insurance brokers. Only a very experience agent mailing list compiler has the credentials to assist them.
3. They need to email their current producing brokers a newsletter once a month
4. A small unannounced reward should be sent to producing brokers occasionally. Like a free $20.00 gas certificate.
5. Do not offer incentives to new brokers to sign up that are not also given to your producers.
6. You need to spend sure that 75% of your recruiting budget only targets independent insurance brokers
7. Losing a producing broker due to poor service or competition will likely cost at least $3,000 in profits..
MILLIONS OF $$$ ARE WASTED EACH YEAR by insurance companies chasing down the wrong prospective brokers.
Well published author, Don Yerke likes to concentrate on what you don't know or what no one else dares to print. Tell it like it is. The website address is http://www.agentsinsurancemarketing.com Check out right now the abundance of 100 captivating and stimulating articles.
