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Newly Licensed Property/Casualty Agent Networking Tips

As a newly licensed property/casualty agent, you may be faced with an uphill battle: How do you compete with more seasoned agents who seem to thrive on sales competition? Here are ten top tips you can use to gain more experience and contacts and build a solid book of business.

1. Don’t be afraid to ask for advice and seek mentorship

One thing about insurance agents, they’re usually more than eager to help newer agents succeed. The first thing you want to do is to scan the industry, whether it’s in your office or with your local Big I association, to build contacts who can help you when you’re stuck. As increased business goes into surplus lines markets, wholesale underwriters can also be a tremendous help. Keep notes of which underwriters you’ve asked for help, because you don’t want to wear out your welcome, but you want to recall which underwriters specialize in which areas. For example, if you’re going to specialize in cannabis, you’ll want to know which wholesalers will steer you toward the solid coverage. Another key tip is to work with your carrier’s marketing reps to determine what they’re writing. For example, they may have a solid tow truck program or a niche for insurance for high-value homes. With a little push from your marketing reps, you can better understand the carrier’s appetite and where you might market. Mentorship is all around you, especially if you remember to say, “Thank you.” A handwritten note of appreciation is rare in today’s world. Be the standout who thanks people who take time to help you.

2. Read sales books and trade journals

One of the ways I stood out early in my career is by spending a great deal of my spare time reading insurance trade journals. Additionally, if I wanted to specialize with contractors, for example, I subscribed to feeds or free trade magazines in that sector. If you know the pain points that keep your potential prospects up at night, you’re better able to communicate with them and ensure they get the coverage they need. Sales books written by industry insiders can also help, as can following some key industry thought leaders on Twitter and LinkedIn.

3. Join and participate in a few key associations

Again, if you want to work with contractors, join a contracting association as an associate member. Your local Chamber of Commerce is also an excellent choice. Two of my favorite agents belong to our local Chamber, and we’ve bought insurance for years from one of those members. Here’s the secret, though. You can’t just join, you must participate! That means, yes, regularly attending those breakfast meetings and after-hours ribbon cuttings. “Where will I get the time?” you may think. You must make the time to participate, because having your company’s name on the Chamber website will not bring you much, if any, business. Consider joining one of the committees, where you will begin to reap the benefits of networking. It takes time for people to build trust with you. And humor works. When you introduce yourself, some humor gets your point across far faster than a dry recitation of “I’m a great insurance agent, try me!”

4. Take advantage of the quiet hours

Time management in our industry is a prime concern. Those early morning hours where the phone is silent, and you may feel more comfortable keeping your Outlook closed can reap big time-management benefits. According to several experts, it takes us over 20 minutes to refocus after an interruption. Because in insurance our “God is in the details,” we must focus to ensure the facts are correct. One missed detail – a wrong business name, a property left off a property schedule, an error made when rating – can mean a big problem for your agency and your insured.

5. Ask your boss to help you chart a career path

Especially if you work for a large agency or a carrier, you should take time to set career goals with your boss. This can include joining a professional organization, obtaining that next designation such as the Associate in Risk Management, or considering where you want to go next in your career. Without that clear path, it’s easy to become discouraged, allowing you to feel stuck in your career or even consider giving up. There is an old expression that may come in handy: “Don’t quit before the miracle.” With perseverance, you can become a top producer in your agency and in your desired niche.

6. Join committees that challenge you

The best way to become known in your organization or in a membership group is to work on committees, projects, or task forces. Whether you are updating your agency management system or working on streamlining underwriting practices, when you work on interdepartmental or outside organizations’ team, you gain visibility and learn more about your company or that other organization. If you’re not aware of these committees, ask your boss to consider putting you on an interdepartmental committee. You’ll make new friends and new contacts. Or the next time you attend a networking meeting, talk to leaders to see where you can serve.

7. Don’t ignore cold calling

Who likes to cold call? No one. However, many of today’s top agents began their careers by building cold-call expertise. You do not need a long sales pitch. Simply ask your contact if they are completely satisfied with their current agent, and if not, ask them for their expiration date or when you can talk with them further. Practice active listening and respect the other party’s time. There are many great articles on cold calling on the web, so read and learn from cold-calling experts. As a newer producer, you may have to rely on cold calls while you build your network and your expertise.

8. Record your sales calls (where it is legal) and review them with your boss

When I began negotiating claims, my boss suggested I record my calls and afterwards, we would review them. My bosses would provide helpful input that I would use in my next negotiation. The same holds true in sales calls. Your supervisors and mentors have been doing what you are learning for years and can provide their expertise.

9. Ask for referrals and always ask how people heard about you

Handing out business cards, networking at business meetings, all are effective ways to obtain leads. However, the best leads are “warm” leads, meaning someone who trusts you refers others to you. And don’t forget to thank those warm referral partners, because if you do not acknowledge them, they are likely to stop referring you. A $10 gift card or a hand-written thank you is a great place to start.

10. Understand the critical importance of the “sales funnel”

If you understand and develop an effective sales funnel, you will be ahead of most of your sales peers.

The first stage of the sales funnel is awareness. You make people aware of you through social media, blog posts, joining networking groups, or cold calling. Next, you build interest. For example, if you want to specialize in selling to bar and tavern owners, you will want to display the knowledge you have about that industry. This may be as simple as writing a post about assault and battery coverage or boosting your posts that can target tavern owners in your locale. As you build awareness and interest, you warm up your prospects when you can assure them that you understand the problems they face.

Next comes action. The buyer may choose between you and a family friend who is an agent, for example. However, even if you do not write their business this year, you can utilize drip advertising with occasional emails and blog posts, or other news articles, which keep you top of mind with your potential clients. Finally, and it may take a year or two, your prospects make the decision to buy from you.

As Jim Hart of Client Rush Marketing tells us, "In insurance marketing, you mostly have two groups of prospects. Friends from church/school/ neighbors or total strangers looking for a quote. The purpose of a marketing funnel is to move cold prospects from strangers into people that know, like and even trust you. By engaging them with helpful information, answering their questions and concerns as they consider making a change with their insurance, you can become a trusted resource. This can be done via content on your website or social media or even email as you get adept at gathering email addresses.

"Properly executed marketing will enable you to spend less time talking to strangers."

New Agents Face Many Challenges

While we may take a job with an agency that promises training, in this hard market, your agency’s principals are focused on production, retaining business, dealing with claim issues, and moving business to retain it. You may well be left to fend for yourself much more than you had hoped.

However, by reaching outside your agency to others who have walked that same path as a new producer, and following these ten tips, you can build a solid book of business.

Publication Date: April 26, 2024

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