Build A Massive Insurance Agency, Back by Popular Demand - First In An Insightful Series!

Build a massive insurance agency is the "How To" question on the minds of all new and newer agents and brokers on the planet! I have covered some of the facets in previous articles, now let's discover more facets and obtain the knowledge that it takes to achieve your dream. I will take you through the steps that you must understand to build that massive insurance agency, and the trappings of this massive insurance agency - did I mention a massive income?

I built a massive insurance agency that produced a massive income over many years, the journey was fun but also had many challenges that had to be overcome. Understand that after the first year or so, you can't do it alone. It takes licensed agents on your team to win and win big! But here's one of the challenges you will face, your team member agents are going to expect and deserve a part of the "house commissions". You begin by choosing the best agents you can find, people with a positive and winning attitude and wanting to be part of your team! I want to be very clear on this because each and every one on your team represent you and what you stand for, so choose carefully because your future depends on it!

Here is one of my very successful facets that helped me build a massive insurance agency and a massive income. Purchase a erasable white board around 3 by 5 feet and hang it in the back of your office but in view of your team members. We had fun with this one, I offered a paid trip to Las Vegas Nevada - a great room and a generous amount of money for dinners and drinks - the works! Being a goals oriented guy I did not limit the contest to just one winner, any and all team members could go to Vegas on "the house". Think about it - if one team member qualified for the trip, it increases the gross income of the agency, they win and you win! I had one contest where I sent my entire team and their spouses to Lake Tahoe - it cost me a bundle and I began to wonder if I had finally lost my mind!

Well - after coughing up the money for the Lake Tahoe trip, the commissions started rolling in from my teams sales - and I realized I was a made a great move. I built a massive insurance agency and a massive income to go with it - and so can you!

Florida Adjuster License: Decoding the 5-20, 6-20, and Other FL Adjuster Licenses

For Florida residents interested in obtaining or learning more about the Florida adjuster license, it may be helpful to unpack and simplify the multitude of license categories and types that are available. This will help ensure the most efficient path to getting precisely what you want by the most direct means available.

At the broadest level, there are three general Florida adjuster license categories - the 6 series, the 5 series, and the 3 series.

The 6 Series - Company Adjuster Licenses

The 6 series refers to license types that are held by Company adjusters. What is a Company adjuster? The Florida Dept. of Financial Services defines a Company adjuster as "any person employed on an insurer's staff of adjusters or wholly owned subsidiary of the insurer". In other words, an employee of an insurance company - a "staff "adjuster as the position is sometimes called. And in order to qualify for this license type, you will obviously need to be employed by a company. The following 6 series types, which will be discussed at length below, are available - 6-20, 6-44, 6-21, 6-24.

The 5 Series - Independent Adjuster Licenses

The 5 series refers to license types that are held by Independent adjusters. Independent adjusters are adjusters who are "self-employed or associated with or employed by an independent adjusting firm or other independent adjuster". Note that an independent adjuster may be an employee, but as long as you are an employee of an adjusting firm rather than an insurance company directly, you are still considered to be an independent. Most adjusters interested in handling that particularly lucrative type of claims resulting from catastrophic events (e.g. Hurricane Wilma), would be seeking one of the 5 series licenses. Also noteworthy, unlike the 6 series, you do not need to be employed or contracted for work at the time you apply for the license. Like the 6 series, the following types are available - 5-20, 5-44, 5-21, 5-24 (detailed explanation of each below).

The 3 Series - Public Adjuster License

The 3 series refers to license types held by Public adjusters. Public adjusters are categorically different from either Company or Independent adjusters in that they represent the insured rather than the insurer. FLDFS defines a Public adjuster as follows:

...any person who for money, commission, or any thing of value, prepares, completes, or files an insurance claim form for an insured or third-party claimant or who for money, commission, or any other thing of value, acts or aids in any manner on behalf of an insured or third-party claimant in negotiating for or effecting settlement of a claim or claims for loss or damage covered by an insurance contract or who advertises for employment as an adjuster of such claims, and also includes any person who, for money, commission, or any other thing of value, solicits, investigates, or adjusts such claims on behalf of any such public adjuster. Public adjuster licensing and license compliance is handled differently than Company and Independent licensing and, notably, requires you to be bonded prior to licensure. At the time of this writing, you must complete a year long Apprenticeship (license type T31-20) and then pass the state exam to earn a full 3 series license.

As the 3 series of licenses are a different breed, we'll deal exclusively from here on with the 5 and 6 series adjuster licenses. Let's look at the types:

All-Lines: 6-20, 5-20

The 6-20 and 5-20 are both All-Lines licenses. All-Lines is exactly what it sounds like - each and every line of insurance. The 5-20 Independent and 6-20 Company All-Lines licenses qualifies you to handle the full range of claims for Auto, Property & Casualty, & Workers Compensation.

Property & Casualty: 6-44, 5-44

The -44s refer to the Property & Casualty adjuster license types. Property & Casualty would include residential and commercial property and liability claims but would exclude Auto, Health, and Workers Comp.

Auto: 6-21, 5-21

The -21s refer to Auto and specifically Motor Vehicle Physical Damage and Mechanical Breakdown. If you plan to focus exclusively on handling claims for damage done to vehicles due to accidents and weather events (e.g. hail), then this is your license.

Workers Comp: 6-24, 5-24

The -24s refer to Workers' Comp claims adjusting. Workers' Comp adjusters determine benefits to be awarded to employees injured in the workplace.

Which Florida License Should You Get and How?

First, determine the series. If you've just joined an insurance company as a salaried employee, then simply follow their lead for which 6 series license to apply for. If, however, you are looking to break into the independent side and either are or are not employed or contracted to work as such, look for something in the 5 series. There is no reason not to apply for your 5-20 adjuster license as its just as easy to obtain as the 5-44, 5-21, or 5-24. It gives you the greatest flexibility to find your claims niche without limitation.

If you first obtain a 5 series license and then obtain full-time employment status with an insurance company, you will be able to switch your license status to the 6 series through a relatively simple process that does not require further examination or coursework.

Bottom Line: Whichever of the 5 or 6 series licenses you choose to pursue, there are several Florida approved Designations (online or classroom) that allow you to immediately obtain licensure without further testing or coursework. Such Designations will typically represent the quickest and surest means to get the right Florida adjuster license for you.

Generating High Quality Insurance Leads in the Real World

New technologies make life easier and more exciting. When it comes to business, we are constantly searching for the latest and greatest to make sure that we stay ahead of our competition. Ironically, when we become consumed by this fear of falling behind, we forget about the most tried and true traditions that established our industry in the first place.

Now let's take a look at lead generation in the insurance industry.

Anyone who sells insurance knows that if you cannot high quality leads, then generating sales is going to be close to impossible. The internet has done wonders for us as insurance agents looking to generate new high quality leads; however we should not let ourselves get so distracted that we forget about generating leads out in the real world.

In order to generate an endless stream of high quality insurance leads and have buyers hunting you down (instead of the other way around) you need to combine technology with tradition.

So how do you go about doing this?

* First off, you want to make sure that you have a fully functioning website. Make sure it is designed and crafted by a professional who is an expert in SEO (Search Engine Optimization).

Keep your website clean, simple, and easy to navigate. If it takes too long for potential customers to find the information that they need then they will go to someone else's website and buy from them instead.

Also keep the imagery on your website light in order to prevent people from waiting when they try to open it.

Find a reliable lead generator online, sign up and follow through with the instructions.

* Secondly (this is the part that most of us forget), you want to go out into the real world and start making connections.

When I say connections, I mean REAL connections. Don't treat everybody you meet like a lead. Make friends and serve your community. Go to church and get to know the people in your neighborhood. Go to your kid's baseball games and get to know the rest of the parents. Join a local bowling team and socialize with all the other teams in the league. The possibilities are endless.

Make friends with these people and treat them well. Do favors for them without expecting anything in return. Listen to them talk and take a genuine interest in their lives. See what you can do to help.

Sooner or later everyone is going to ask what you do for a living and you can tell them. "I sell insurance, yeah, if you ever need anything just let me know and I will hook you up, we've got some amazing deals going on right now". Then you drop the subject and ask them a question about themselves in order to turn the focus back onto them. Wait until next time to give them your business card.

It won't be long until everyone your community knows exactly who to go to when they need insurance. These people will be your most loyal customers and they will generate the HIGHEST quality insurance leads for you when they recommend you to all their friends and family members.

You will not only make a lot more money, but you will also feel good knowing that you are a valuable member of your community.

Key Words That Can Excite A Financial Advisor's Prospect

I was at a BBQ and over a drink got into a conversation with two people about insurance and investment. The conversation raised the issue of where you go for financial advice, which developed into a rather interesting discussion. I encouraged the debate and treated it as a research opportunity.

Of note was learning about the importance of key words in motivating consumer behaviour - which I will explain. By way of background, the two I talked to have the profile of almost perfect clients. They both enjoy well-above average incomes and high levels of net personal wealth. They were aged 54 and 49 (I asked). The older one is a successful accountant while the other owns his own business and also sits on public and private boards.

Sorry to say, but both had somewhat cynical views about advisors in general, recounting stories of 'idiots' they had met. These were some of their comments. "I don't trust how they make their money. I have heard that they can make 150% on the premiums of some insurance products." "I hate the way they have to sell you something to make money. That must influence their advice." "I've got four life policies. Two of them are more than 25 years old. I should cash them in."

Clearly they were somewhat ignorant as to the way advisors work. Which means that neither of them have proper financial advisors in their lives. The real value from the conversation however was their reaction to some specific words. When I talked about how many advisers work, it was key words that made the biggest impact. Notable among these were:

"Audit." I suggested that a good adviser would be able to undertake an 'audit' of their financial lives, including their investment and insurance portfolios. This instantly got their attention. The word 'audit' has a powerful meaning to business people.

"Plan." They both felt that advisers had tried to sell them individual products, not any sort of financial plan that put everything into perspective.

"Fees for advice." They were both impressed with the idea of paying a fee for a financial plan, regardless of whether the recommendations were taken up. This seemed to overcome the issue of a plan that might favour an adviser's remuneration. Interestingly the accountant said "So, what would you pay? A couple of grand?"

"5-step process." This really hit home. I explained that a financial plan looks at the 5 key aspects of your financial life and how it was almost impossible to separate them. They asked what the 5 steps were but I told them to ask their advisor. As you can guess the accountant in particular loved the word "process." He had never thought of it as a process before, just a sort of 'sell-as-much-as-you-can' approach.

Watch the reactions of client when you talk to them. Are there some words that seem to have a considerably greater impact on them? There will be, it's just a matter of recognizing them.

Know The Kind of Life Insurance Agents You Deal With

A majority of people today use insurance agents to acquire insurance policies for their homes, vehicles and life. When trying to acquire life insurance, it is especially important to know the kind of agent you are dealing with. A good life insurance agent should be trustworthy, available in a moment's notice or whenever you need them, knowledgeable in all aspects of this field of insurance, and professional as well as ethical in every respect. A good agent will supply you with essential details without you having to ask for them. Even after interviewing the agent and you are still uncertain about certain issues, a good one goes out of their way to get you accurate answers and rest your doubts.

Before your interview with an agent, you should list down any questions that you wish to subject the agent to, so that you do not forget something vital. A competent agent will not just give you a quote and send you on your way. You should expect to be asked many questions about your lifestyle, family, health conditions and financial status. The acquired details are then used to determine your insurance needs, and thus used to get you the most suitable life insurance quotations.

You know you have a great insurance agent when you are under the impression that all their efforts are put towards meeting your needs. A good agent will keep searching until he finds you affordable premiums with good coverage. There are often multi-policy discounts available, which give you cheaper premiums if you choose more than one coverage type at the same time from the same insurance company. The agent will put extra effort in getting you these discount offers, as taking out a loan on the family farm in order to afford the policy is not an option for the majority.

When discussing your policy with your agent, make sure they are giving you the full run-down. This should include what your coverage exactly entails, how much your premiums will be, penalties, late fees and any processing costs that may be involved. Sometimes, people are shocked when they get their first bill in the mail and see how hefty it is. You do not want that person to be you; so make sure that you are well-informed.

Keep in mind that when an insurance agent quotes you a price for a coverage, they are quoting it based on your latest available personal details. If your situation changes, for example if you quit smoking or if you get a salary raise, be sure to notify your agent. Smoking and other unhealthy habits cause your premiums to rise and stopping their pursuit consequently lowers the premiums. On the other hand, increment of income can enable you to get a long-term life insurance coverage, such as whole life.

When your consultations with competent life insurance agents come to an end, you should be able to feel relieved in the knowledge that your family will have financial security upon your death. That is a feeling that everyone should have. If your agent provided you with excellent service, make sure to tell your friends and neighbors so they can also reap the same benefits as you. Good agents are sometimes hard to come by.

The Four Fundamentals of Starting an Insurance Agency

Striking out on your own as an independent insurance agent can be a fulfilling, exciting and lucrative experience.

Insurance is a relationship business. There's satisfaction in protecting individuals, families and businesses from some of life's calamities. Insurance sales can also be lucrative. By recruiting associate agents, you build residual wealth while offering income opportunities to others. And the freedom and flexibility as are unparalleled.

As with any commission-based business, you must get your agency off the ground quickly. Following are four fundamental steps that will give your insurance agency a strong start:

Obtain the Necessary Licenses (if new to the business)

Books, online courses and training professionals can help you prep for your state's insurance exam. Separate exams are required for life and health and for property and casualty. Uniform licensing standards and reciprocal licensing between states are becoming more common, allowing you to get licensed in more than one state fairly easily.

Part Ways Gracefully with Your Existing MGA or Captive Agency (if already in the business)

Determine whether your agreement included a non-compete clause. (An employment law attorney can advise you on whether it is actually binding. Many times, such clauses are not.) Find out whether you own, and can take with you, any portion of your book of business. If so, this becomes a good foundation for your own agency.

Set Up Your Own Agency Business

Decide on an official business structure (corporation or LLC) and file the appropriate paperwork with your state. Find an accountant to help you with commission breakouts and other bookkeeping aspects of your business.

Select the Right Master General Agency (MGA)

MGAs provide administrative, marketing and sales assistance to hundreds, sometimes thousands, of independent agents. A good MGA can help you grow your businesses faster. That's because they provide access to large, well-known insurance companies and top commission rates.

Be selective about who you partner with. A quality MGA should offer you:

Broad product portfolio, with multiple insurance lines to meet your clients' personal and commercial needs. Contingency bonuses, paid to the MGA by carriers for producing large volumes of business. Not all MGAs share these bonuses. Confirm the MGA's willingness to split contingency bonuses with you, or find someone else who will. "Same team" philosophy-The MGA should not allow agents within the same geographic area to compete against each other. Your fellow agents should feel like teammates. Carrier appointment paperwork-With some applications running 40 pages in length, your MGA should handle this cumbersome paperwork on your behalf. Marketing support/digital and traditional-Leading MGAs provide turnkey systems for both traditional marketing and digital marketing (e.g., e-marketing, social media, website development, SEO and pay-per-click campaigns). Business coaching-MGAs have a wealth of industry expertise, and they should be willing to share that with you. They can help you avoid start-up pitfalls and maximize your income. Fully integrated technology-The best MGAs have invested in agency management systems that make you more productive. Their system should include a comparative rater for quoting multiple carriers, e-mail marketing system, lead generator, online training and more.

With the level of automation and support available today, there's never been a better time to be an independent insurance agent.

About the Author: Pamela McCann is partner and chief operations officer of Alliance Insurance Group, an independent insurance agency based in Golden, CO. Her current responsibilities include streamlining Alliance's insurance agency management systems. She also spearheads Alliance's Master General Agency initiative, recruiting independent agents who are interested in starting an insurance agency. Throughout her 30-year career, McCann has held a variety of corporate financial roles, ranging from chief financial information officer to controller. In those roles, she was responsible for negotiating business insurance and employee benefits. She is a licensed producer in the state of Colorado.

How to Get Your Insurance License Online

In spite of the state of the economy one industry that still continues to flourish where others are drying is the insurance industry. With recent changes in government regulations and more people working in dangerous jobs than ever before there is a need for more licensed insurance agents across the country.

If you want to become an insurance agent you will need to get an insurance license but before you can get an insurance agent license you must enroll in an online insurance school.

State Requirements

The insurance licensing requirements vary from state to state so before enrolling in an online learning institution, make sure that you know what the specific regulations are for your state. You can research this by reviewing the state board of insurance website for your state.

Some states also require students to take additional classes or continuing education courses before they allow a student to sit for the exam so it's best to also find out what classes and courses that you need to pass before you take the insurance exam.

Tips for Finding the Right Online Insurance School

1. Find A State Approved - Make sure that the online insurance school is approved by your states board of insurance. This step is important because, you could find yourself having to take the same classes over with another learning institution if your school wasn't approved by your state.

2. Look For Feedback - Look for feedback online from other satisfied students. This is one of the best ways to find out if the online insurance school that you're considering can help you to quickly get your insurance license or not.

3. Search for a Money back guarantee - Not every online learning institution will offer a money back guarantee but there are online universities that stand by the quality of their training. You should choose an online insurance course that will offer you your money back or at least a portion of it back if you were to fail the insurance exam the first time that you take it.

4. Total Up The Cost - Make sure that you know how much it's going to cost to go to an online university or take an online course that will enable you to get your insurance license. In many cases you may be able to qualify for either Federal or State financial aid so there won't be any upfront cost for your education.

What Does It Take To Study Online?

Studying for your insurance exam online is a smart choice because, it will enable you to study at your own pace, avoid travel time in commuting back and forth to schools and best of all you will be able to study at your own pace until you thoroughly understand course material.

Before enrolling in an online learning institution make sure that you're able to devote the same amount of time per week to being in front of your computer that you would spend in the classroom. Even if you can only study late at night or early in the morning you should have that time blocked out in your schedule every day so you can spend it studying and moving towards your goal of getting an insurance license and being able to work as an insurance agent.

Everything You Need to Know About Life Insurance Agents

A life insurance policy provides the payment of the policy to the family on the death of the policyholder. The clients usually contact the insurance agents to know the insurance policy and even to buy the most appropriate one.

These specialists sell and serve the policy. Therefore, you can say that they represent the insurance company. A representative specializes in insurance policies and offers the best solutions to people. He has to perform many functions. He has to meet new people, get to know their present conditions and then give them information on the policy products, which suit them the most. His other functions include reminding of his clients to pay the premium and even inform them about any change in the interest rates. Insurance policies are legal and technical in nature. They can be very confusing for those who do not have specialized knowledge about it. Therefore, you have to consult these agents who can help you understand and go through the legal terms and conditions.

An insurance representative can be divided into two categories. This division is based on the companies they are working for. They are of two types - direct insurance policy agents and independent life insurance agents. Direct life insurance agent works with a single insurance company and sells its insurance policies only. He gets the commissions and fees for selling the insurance products to the policyholder.

Independent agents work with two or more companies at a time. He gets a commission from each paid premium. He gets a percentage of that premium. He gets a salary for serving the policy of his client. As they cover maximum companies, these agents offer assistance to their client to get the most beneficial policy.

The insurance representatives have to undergo an examination process to get recruited by the insurance company. It is essential for a person to clear his insurance exam and then, get a license from their state to serve as a policy agent. He cannot sell the policy without having a license.

A representative should be competent enough to perform all the functions of an insurance agency. A good life insurance agent has in-depth knowledge about the various insurance policies and can explain them to his clients. He should be able to answer all their queries and explain the technical jargons and legal aspects of the policy. He should not pressurize his clients to buy this product in any aspect. It is a duty of the insurance representative to maintain the report of the policies. If the policy is lost, it is his responsibility to advise the policyholder how to claim his insurance. Thus, a life insurance agent plays a pivotal role in the process of insurance policy. The sale of the policy and its maintenance - all important functions are performed by him.

Insurance Agency Marketing - A 7 Step Approach to Marketing Today's Insurance Agency

Marketing your insurance agency has changed so much in the past 10 years; it is difficult to know where to start. Most of the new clients that hire us, have URLs that are less than 5 years old. This shows how dramatically and quickly the industry has changed when marketing their agencies. Today, most consumers will utilize the internet to find your information through various directories, organic search results and even social media.

You may be wondering, "Where do I begin?" We've put together a short list of ways to increase your web presence and reclaim your position as a top insurance agency marketer.

Step 1: Update your website

If your website looks like it hasn't been updated since 1997, it's probably time to do so. There are many resources to easily build a website such as "WebSite Tonight" by GoDaddy or services such as Wix, which will get you a nice looking website using templates. But, be careful of websites that utilize too much flash as it will likely hamper your ability to get much traffic to your website, besides direct traffic.

Step 2: Invest in SEO

If you're unfamiliar with what SEO means (Search Engine Optimization) you probably should talk to someone about optimizing an existing website or building you a new one that is optimized from the start. SEO is all about getting organic search traffic to your website. For instance, if someone types in "Insurance Agency Seattle" you want to be the agent who Google shows first or at minimum on page one. If you're not on page one, you're missing out on almost 93% of all search traffic.

Step 3: Get Email Hosting

I can't tell you how many of our clients still use email addresses at email providers like Yahoo and Hotmail, such as: "taber@hotmail.com". Show your prospective clients that you're an established business by using domain registered email accounts. Most hosting companies will provide at least a handful of them for free with your website hosting, so take advantage. Customers are more likely to buy from an agency that shows professionalism on all fronts, including their email.

Step 4: Fix your local listings

The web is littered with directories. There are so many, it would be nearly impossible for you to go to each one and update the listings entirely. Furthermore, it would be a waste of time. Go to the big ones like Yelp, Yahoo, Google Plus Pages, etc. Complete the listings in the 20 most popular ones, ensuring that your (NAP) name, address and phone numbers are consistent on all of them. If you spell out Avenue in one, do not use AVE. in another. Many directory links are treated like SPAM now, so they aren't giving your websites any credibility.

Step 5: Be Social

Social media is the new trend. It can be time-consuming, but it allows you an opportunity to stay in touch with existing customers and also, attract new ones! Begin simply by setting up a Facebook page for your business and add content, news, links to other articles, etc., at least one time per week. Social Media isn't going anywhere soon, so don't let your agency get too far behind by not participating in this area where millions of Americans are having conversations!

Step 6: Install Analytics on your Website

Google offers a tremendous tool to track your website traffic called Google Analytics. This tool allows you to see what keywords people are using when they find your website. If you find that your website isn't getting much traffic, this tool can help you fine tune it so that you can capitalize on search traffic. Furthermore, Google has a keyword tool so you can search for terms before optimizing your website. If you hired someone for step 2, they should have taken care of this!

Step 7: Send out Electronic Agency Newsletters

The number 2 reason that customers leave their insurance agent is because they haven't heard from you! Stop attrition in its tracks by communicating with your clients about new products, new team members at your agency, local events, a local charity you're working or any other news. If you're not communicating with your existing customers, someone else is. Electronic newsletters cost about $.02 per email. Most agency management systems and some carriers can help you sort your collected email addresses. If you have a larger budget, around $1,000 per mailing, consider mailing a quarterly newsletter. A couple of email service providers to consider are: MailChimp and ConstantContact.

This should get you started on getting your agency marketing up to snuff!

The Benefits of of an Independent Insurance Agent

Today it seems like everyone wants immediate access to discount prices and merchandise. This is why sites like eBay and Craigslist are so popular. Due to this people are tempted to buy insurance the same way. I mean it is easy right? Just go to a web site, get a quote and boom! Your covered. Not so fast. It is much in your favor to seek out a local insurance agent who specializes in the industry to find you the lowest quote. Otherwise you are shooting yourself in the foot. Insurance is not the same as buying a new TV or video game console. I think it's time to set the record straight.

There are three absolute ways you can buy insurance:

1. Directly from an agent of any insurance company. 2. From the internet or over the telephone. 3. Through an independent insurance agent in your local community.

Let's break these down into detail shall we? Buying directly from an insurance company means that you are taking their word that they are the cheapest. Maybe they had a funny television commercial or internet ad and you thought they had a point, who knows.

Internet and phone agents might represent various companies, but they are not members of your community. They are going to sell you whatever is in THEIR best interest. NOT YOURS! Not to mention they might not be aware of specific state and local conditions and laws so they can't be held accountable if you get into trouble. That and how are you going to go back to them to fix anything?

A local independent insurance agent is an expert and your representative. They are licensed professionals who know and understand local conditions and laws. They can do the research and recommend the coverage that will keep you, and your family safe. It's in their best interest to keep you happy. Like I said they will shop around different companies to find the policies and prices that best fit your needs. When your situation changes or your life is taking an unexpected turn, they can help you change your insurance policies to reflect your new changes. Your agent knows and understands you. People have the tendency to shop around for prices and unknowingly sacrifice coverage. What's the point of saving a few dollars if you risk a loss that costs you thousands?

Your local insurance agent will also help you when you need to file a claim. They do what's best for you not what's best for the company. That will offer you a peace of mind at the end of the day knowing you have an agent that has your back.

Using Psychology to Help You Make an Insurance Sale

There are many techniques you can use to help you make a sale. But if you want to be a successful agent, knowing some things about human psychology will be a great way to increase your sales and even connect with people. Deciding to buy something is, in large part, psychological so if you know how to appeal to the psychological nature of someone, you have a better chance of making that sale. Here are three ways you can try to make that happen.

People Justify a Decision to Purchase Something with Facts - If you have ever gone to the car lot and fallen in love with an expensive ports car, you know what it' like to have an emotional connection with an expensive item. But emotions aren't enough to justify making a large purchase like that. That's why you immediately start reading the facts posted on the car's window - the gas mileage, how it retains its resale value, the low maintenance costs, etc. If you can justify the purchase based on the facts, you are more likely to buy the item you want. The same is true with insurance. If you can present the facts to a potential client in such a way that it shows how your product will benefit them, making the sale will come much easier and even more often. People are Basically Self-Centered - This isn't to say that people are selfish all the time, but being self-centered is very common. As a result, when you are in the process of selling your insurance products and services, it is important to put an emphasis on how they will benefit personally from the purchase. If you're selling life insurance, the buyer will have no direct benefit but you can emphasize the peace of mind they will feel by knowing their family is protected if something ever happens to them. Other insurance products - medical insurance, long-term care insurance and others - are more readily identifiable as having a personal benefit so those are often easier for making a sale. People are Typically Suspicious - With all of the scams and other ways to get ripped off, people are more protective of their money than ever. That's why this may be the most difficult psychological obstacle to overcome. But it's not impossible. The most important thing to remember is to back up all of your claims with as much evidence as possible. Customer testimonials is one way to do this, but showing survey results, scientific data and any other convincing evidence you can find will help you show your customers that you and your products are genuine to alleviate some of their worries.

Being an accomplished sales agent requires knowing some information about the human psyche and how people make their decisions. These three insights into the psychology of the thinking processes when making an important purchasing decision will help turn those potential customers into actual clients.

Steps to Make Sure Your PPI Insurance Claims Are Approved

Payment protection insurance (PPI) can be very beneficial to those who have it. When we get into a time where we need assistance payment protection insurance can give us that lifeline we need to still make our monthly mortgage payments on time. As with any type of insurance if you need help you need to follow a claim in order to activate the insurance. PPI insurance claims must be done correctly in order to be approved. If not, it can cause delays in the claim being approved and may actually result in the claim not being accepted at all. In either case it is not a good thing for a homeowner to go through because anyone with a sense of pride feels bad about not being able to pay their mortgage on time even if it is for just one month. Let's take a look at why people may file a claim and how you can go about avoiding some pitfalls to make sure your PPI insurance claims are approved in a timely fashion.

As we mentioned previously, if you are in some type of situation that is causing you to not be able to keep up with monthly mortgage payments for example, you can file a PPI claim. Some reasons we may fall behind on any loan payments may include loss of a job, death in the family, or a serious illness or injury that keeps you from working. The bottom line with all of these is they could cause you to stop working for a period of time during which time your income level will drop significantly thus impacting your ability to pay a certain loan back on time. Most PPI insurance claims if approved will provide relief from payments for approximately 12 months. That number of payments covered can differ based upon the severity of your circumstances and some other specific factors.

The biggest way to ensure you are covered adequately by your PPI insurance in the event of something similar happening to you is to take a good look over your PPI insurance policy. Take special note as to which situations you are covered under and to what extent you are covered. Some people will wait until their PPI insurance claims are rejected only to find out the reason they were rejected was because the insurance they had been paying for years did not cover them under certain predicaments. What do they say? Knowledge is power? Well that statement cannot ring more true than when dealing with your PPI insurance policy.

So as you can see, making sure you have a quality PPI insurer is just as important as having a quality auto, home, or life insurance agent. You essentially are partnering with them based on some semblance of trust. Stay away from any insurance agent that could even seem somewhat shady on any level. Finding that quality agent is the best way to make sure that when you file your PPI insurance claims they are approved and you get the money you need.

Insurance Companies and Quotes

At any moment an accident can happen. You can never really truly prepare yourself for a car accident, flood, or employee injury. You can, however, cover your bases by taking advantage of services offered by insurance companies. From your property to your family RV, there is a plan that can help you gain confidence and safety in your investment.

Not only is having auto insurance a law, but it is one of the smartest investments you can make for your vehicle. As confident and experienced as a driver as you may be, the next person is not always as pulled together. Sad is it is, there will always be drunk drivers and rain that sends cars hydroplaning into stop signs. Repairs can cost thousands of dollars and tens of thousands if it is a luxury car. When you have insurance, you are not responsible for paying for those damages. Even more important, if you hit and damage someone else's car in an accident, your insurance company will step in and pay for their damages as well. Having full coverage on your vehicle is a seriously sound investment, and it could save you thousands of dollars in the end.

One thing that is always an interesting topic with insurance companies is the matter of quotes and policies. How DO you know which plan is best for you? Why is your home insurance more than someone else's in your area? The truth is, there isn't really one modest answer. This is why insurance companies offer free quotes. There isn't one solid rate for any given person, quotes differ depending on things like the type of car you have or if your area has a reputation for floods or crime.

There are a number of different investments that can be covered. Your automobile, RV, motorcycle, boat, home, and business are all different things that are deserving of protection. Homeowner's and renter's insurance are two examples that can be exceptionally beneficial. Losing your home to a flood and not being covered would be traumatic as it is most people's largest investment. Or imagine having a tenant totally trash your once pristine home and leaving you with the damages. You don't have to stress about these unpredictable events when you have insurance.

If you are interested in getting a free quote, the easiest way to get information is by doing an online search for agencies in your area. There you should be able to fill out information for a free quote or find a number to call for direct assistance.

Four Ways to Acquire and Maximize Free Insurance Leads

To get guaranteed results for insurance leads, companies have the option buy lists off of marketing firms that offer lead generation services. However, this could cost insurance companies anywhere from $4 to $40 per lead, which is still a loss, in its technical sense. Although cheaper than having to pursue possible clients through in-house telemarketing and email marketing efforts, it would serve the company better if they spend less for more lead results. But of course, this type of expectation is something that can only be achieved with thorough training. If you want your agents to secure free insurance leads and maximize them for health or child life insurance sales purposes, here are some suggestions you should consider when preparing them.

1. Teach agents that punctuality is everything. As the saying goes, "the early bird catches the early worm." It's not enough that they talk to current clients and have them suggest leads; they have to confirm it immediately through home visits or phone calls. It would be more profitable on the agent's part if he or she can address people's needs right after they express it. That way, they can hold the window of opportunity open long enough to get the lead to buy or agree to a second meeting on child life insurance. Failing to follow up on a lead or doing so after an hour of introduction can cost sales. Timeliness will enable agents to secure more revenue and get leads to take things to the next level.

2. Equip them with evaluative questions and trigger phrases. Getting someone to sign on an insurance deal is akin to courtship - the agent has to ask the right questions and say the right things at the right time in order to get the right results. Usually, three open-ended questions regarding a person's lifestyle, occupation and spending habits is enough to give agents an idea of whether a lead is willing and has the capacity to buy a specific insurance plan. Trigger phrases, like "low monthly premiums" and "million dollar coverage" would help them get the lead interested and even committed to the prospect.

3. Encourage them to use technology. There are a lot of great ways agents can gather free insurance leads through the web, and they don't even have to spend or use the company's name. Educate them on how to create social profiles that would help them reach out to the kind of demographic they want to target and observe their network's reaction. Every day, this profile will generate results and the agents can qualify them according to their personal standards. If they notice someone who seems to be attracted to the notion of starting an insurance plan, they could just click on his or her profile page, get contact details such as phone numbers, email addresses and chat IDs, and contact him or her a minute after.

4. Educate them on how to empathize with consumer needs. Free insurance leads are often just strangers agents will meet through a mutual acquaintance. It will be difficult to convince them to instantly patronize a product or service without so much as establishing a personal connection. If agents know how to build rapport and exercise the proper sales etiquette, they are likely to walk away with a closed deal than if they approached the person in an objective manner.

War Stories From The Trenches That Financial Advisors Can Learn From

Here are two businesses whose lessons apply very well to financial services. These are from real businesses here in New Zealand that happened in the past twelve months.

A builder: This business had been static for some time, his advertising efforts being in all the normal media such as radio, press and directories. Wanting to grow the business, the builder analyzed the last 20 jobs and was stunned to find that ALL were from referrals! Until he had looked closely at them he just assumed that the advertising must have been generating the work.

So, he made up a list of potential and existing Centres of Influence, being architects, structural engineers, developers, the local authority staff, real estate agents and previous clients. He then arranged breakfast meetings with them in small groups. He called them (surprise, surprise) "Friday Breakfasts," so EVERY WEEK he invites two or three of them to meet informally with him and his staff over croissants and coffee.

Business has gone up 100% in just twelve months. His profit has risen as not only is he saving on advertising but he does not have to compete with as many when tendering. The staff love them as well and as an unexpected bonus, motivation and productivity have increased.

The lesson: What are the real drivers of your business - referrals, advertising, sponsorship or something else? If it's referrals, do you have a proactive plan for cultivating more of these? The builder in this case study has obviously found a low-cost and apparently very effective plan.

A consulting engineer: This engineer's clients are local government and large developers. Advertising to date was primarily in relevant industry journals. He undertook a small amount of informal research, which revealed that his clients did not know the range of services he offered. So, he created a simple monthly newsletter that went to his clients explaining the full range of services.

Issue #2 generated a phone call that lead directly to a $40,000 contract, while issue #7 generated a $120,000 contract! Both contracts were from existing clients who had not realized until then that he offered that particular service.

The lesson: Do your clients know what you do? There is a good chance they only know you for the single product you may have sold them in the past. What are you doing about this?

Nothing beats personal contact, be it by mail, email, phone or in person. The trick is the frequency. It must be very high and relevant to the recipient. I think this builder and engineer have shown some lessons here that are directly applicable to other professional service providers such as financial advisors.

Biggest Mistake of Overworked and Underpaid Insurance Agents

We all work hard in the financial-services industry to get the word out. If you are spending 60 or more hours to get in 20 meetings a week, then the focus needs to be on streamlining your energy.

Stop right now!

The single biggest thing you can do to make your life easier is STOP trying to persuade people to care about saving or planning. You are wasting your time whenever you have to beg, coerce, or convince someone to meet with you. If your services aren't currently a priority for a prospect then either dead file them or follow up with them later ( more on that).

Before I understood this, I tried to convince too many people how they should feel about their financial situation. I'm sure that I came off as desperate, because I invested the health of my practice in getting these people to work with me. People aren't going to buy on your timeframe, and if you try to convince them to do so, you lose credibility in their eyes.

Don't try to sell them after saying nice to meet you.

If you are introducing yourself to someone distinguish yourself by making it easy for them to know who you are. Getting a referral helps develop a comfort zone, but they still don't know you and the referral isn't always ideal. If you are calling someone whose time is very limited such as doctors, attorneys, and business owners oftentimes they won't be able to meet even if they want to. Instead of trying to overcome their objections, show them that your time is valuable and that you are looking to meet them when they are ready.

Send a FREE REPORT

Tell them you appreciate how busy they are and ask if they would like to receive your Free-Reports on the most-important-financial steps a doctor, attorney, or business owner can take. If they say no then you can ask if they want you to follow up in six months, otherwise on to the next person. If they say yes, you will now be able to give them emotional-marketing copy that will compel them to eventually call you. They will develop an appreciation for your expertise on the subject and look at you as being different from other financial agents.

Permission Marketing

If someone tells you that they are too busy to meet but they want to read your reports, you have been granted their permission. Through permission marketing you have a great opportunity to develop your brand and tailor your messages to be emotionally compelling. As long as you have their permission they will begin to expect your next correspondence and even look forward to it. You are offering them free information that other agents and planners either aren't willing to give or don't know how to keep up with.

Automate and Segment

If you had to write all your copy and personally send these reports then this strategy would be counterproductive. The great news is that you don't have to do this! You can automate and segment this process so that you have a tailored-follow up system that doesn't require any of your time. Aweber has created software that allows you to capture your clients e-mail and implement these automated e-mail campaigns. You can also segment your reports so that you can have multiple campaigns going at once. If you are sending copy to both doctors and attorneys it would be beneficial to customize your copy and start two different campaigns. And when you end up working with one of these prospects, you can them put them in your current-client campaign. The e-mails can be sent as news-reports and sent out based on the frequency or dates that you determine are best.

Game Changer

Your reports will compel your prospects to seek out more information from you. And when they do call, they will no longer perceive you as a salesman but as a consultant. Each time they read information with your name on it they become more familiar with who you are. If they are reminded on a regular basis of how you can help them, they will no longer fear that they are going to be sold something. You are the expert that identifies with their situation and has the ability to help them! Getting someone's permission with an automated system in place will create your brand as an expert and lead to great opportunities for future sales. It is also much more likely that they will refer you to their friends and family. Your automated system drives home the message of how you don't need them but they need you.