If your insurance agency isn’t running as it should, it likely comes down to one of three things. You have a problem with people, processes, or policies. Diagnosing and addressing the problem can help you turn things around for your insurance agency. Let’s take a closer look at each of the three P’s, so you can improve your agency.

People

Insurance agency issues often come down to problems with personnel. You might have recruited and hired insurance agents who don’t fit into your company culture. When one employee doesn’t fit, the company can lose its identity.  This can cause other agents to miss performance goals month after month.

On the other hand, you might have hired the best agents for your company, but you didn’t properly train them. You will need to provide the necessary training for them to reach their full potential. Training should be ongoing, so your employees can also perform at optimal levels.

It’s also possible that your agents are assigned to the wrong roles. You need to make sure each agent has the right job, so you can optimize strengths and minimize weaknesses. Assess your staff and their roles and determine if you need to make changes.

Make sure you are open and honest about what you are doing when you make these changes. Your agents could become fearful of losing their jobs if you suddenly make personnel changes or switch roles. Having an open line of communication will help you calm their fears as you look for ways to improve your agency. With open communication, it will become a group effort, and your agents will become invested in making your agency more productive and profitable.

Processes

What if you have amazing employees who do their jobs well, but your insurance agency is still treading water? If so, it’s time to consider your insurance agency’s processes. You should have processes for referrals, new customers, sales, cross-selling, handling claims, and more. You need to define the processes for each aspect of your business clearly. Outline the expectations and continuously review each process to ensure you are up-to-date with the best practices.

You also need to pay special attention to your processes when someone makes a mistake. That is a cue that you need to review your processes to see if it was human error or an issue with your system. Often, mistakes are signs that something is wrong with the process and not the staff member. You can change the process to avoid future mistakes. This also shows your staff that you trust them, and when they make mistakes, you will look for ways to make processes easier to follow.

You can also get help with processes by utilizing the right insurance agency management system. The software will handle various processes for you, minimizing the work required of insurance agents. It’s also much easier to follow all the processes correctly when you use the software.

Policies

Finally, you need to analyze your internal policies to see if they are holding your agency back. First, consider how flexible your agency is. Insurance agents tend to thrive when they have some flexibility in their jobs. This could include the ability to work from home from time to time and the option to take off early on Fridays. While you don’t want to become so flexible that you lose productivity, some flexibility will help your agents and agency. Consider different ways you can make your agency more flexible. Don’t be afraid to ask your agents what they would like before adjusting the policy. Their input could help you create policies that allow agents to thrive.

Second, ask yourself if you are providing your agents with the tools they need to do their job effectively. Just as with processes, you will find that having the right insurance agency management system will help with this. The right software allows agents to attract and nurture leads while also managing their current client list. It can even help them identify cross-selling opportunities, which can lead to larger commissions.

Finally, you need to evaluate your policy to keep agents up-to-date on industry knowledge. They need to stay on top of new coverage options and policy changes so they can better serve their customers. Far too many insurance agencies expect them to do this on their own. However, adding it to your list of internal policies will allow you to ensure that everyone receives the necessary information. Your agents will then be better equipped to serve their clients.

Get Help With the Three P’s

You will find the insurance agency management software from Jenesis Software can help you address many of the problems you come across in your business. From drumming up business and managing clients to helping you optimize your internal policies and processes, the right software will benefit you in numerous ways. Request a free demo to find out how Jenesis Software can help your agency.

Nothing affects insurance agencies quite like the summer slowdown. The fun of summer can cause insurance agents to get off track, leading to lower earnings across the board. Fortunately, you can avoid the slowdown this summer by following some tips. These tips will keep your agency on track and could lead to your best summer yet.

Cross-sell Recreational Products

You can increase your sales during the summer by creating campaigns around recreational products. Look through your existing book of business to find clients who need insurance policies for recreational items such as boats and RVs. Your insurance agency management system will help you identify cross-selling opportunities for recreational products. Then, you can reach out to the clients to make the sale.

You can also create another campaign to reach new customers who need insurance for these items. Remember, many people keep recreational items parked all year, and summer is the first time they take them out. You can find lots of customers who are ready to buy insurance today, so they can have a fun summer. Your insurance agency management system can help you gather and nurture leads for your campaign.

Reassess Schedules

Schedules shift a bit during the summer months. Both agents and clients have more going on during the summer, such as caring for kids. Keep this in mind when creating schedules and booking appointments. For instance, if your clients and agents have growing needs in the afternoons, book appointments in the mornings. By adjusting your schedule and becoming more flexible, you will help your agents stay productive in the summer months.

Schedule Client Reviews

Summertime is the ideal time for client reviews. Have your agents begin scheduling reviews now, so they can check in on clients during the summer. If possible, plan the customer reviews to coincide with a special day, such as the Fourth of July. While you won’t want agents to call clients on a holiday, they can call right before. They can use the time to wish them a happy holiday and then discuss their current policies. This will help them improve customer satisfaction, and they might be able to cross-sell some additional offerings.

Host Free Workshops

You can increase the value you provide to your customers by hosting free workshops with other professionals. Invite financial professionals and others to share the stage with you. Then, you can use your time to explain the importance of insurance while the other speakers talk about their fields. Along with educating your current client base, you can do some prospecting as well. The other professionals will invite their clients, and you might get them to sign up with your agency.

Energize Agents With Outdoor Time

The nice weather can make it hard to work inside all day. That can make the summer slump even worse. Mix things up by having some meetings outside if possible. You can also encourage agents to take walks outside during breaks. The sunshine and warm weather will boost their moods, so they’ll be ready to come inside and get to work.

Keep Agents Comfortable

Your insurance agents might enjoy the summer heat while taking a walk outside, but they don’t want to be hot while inside the office. Keeping your office at the right temperature can boost productivity across the board. Set the thermostat at 68-76 degrees Fahrenheit. Temperatures in this range have been shown to improve productivity.

Be Strategic With Vacation Time

Some of your agents might want to take a vacation during the summer. Their kids are out of school, so it’s the perfect time to plan a getaway. However, you can expect the typical summer slump to get even worse if too many agents take vacations simultaneously. Be sure to stagger your vacations! By keeping your agency staffed, it will be much easier to grow your revenue during the summer. Plus, agents who take a vacation can enjoy a true break instead of having to juggle work obligations because your agency is short-staffed.

Limit Distractions

It’s easy to get distracted in the summer. People have more on their plates, so it’s harder for them to focus. You can improve focus dramatically by limiting distractions in your office. Distractions come in multiple flavors, from text messages and emails to unorganized work environments. Spend the day clearing away the distractions so your agents can focus on the tasks at hand.

All Work and No Play…

While it’s important to stay on track and to not lose sight of your goals, that doesn’t mean that you can’t have some fun in the process! Don’t forget to take advantage of the beautiful weather and do something nice for your team and your community. Consider hosting a community barbecue at your office to let your customers, and the community at large, know that you care for them! It’s a great way to connect with your customers and meet some new people, too.

If you follow these tips, your insurance agency can avoid the summer slowdown.

You might not be able to add more time to the day, but you can make better use out of the time you have. With the right time management strategies, you can get more done during the workday and feel less stressed in the process. Read over our top time management tips for insurance agents; then incorporate these strategies into your agency.

Clean Your Desk

If you have a messy desk, you won’t be able to locate what you need in a timely manner. That can drain your productivity, and you also risk losing checks and other vital items. Messy desks are also a security risk since you might leave customer information out where everyone can see it. Keep your desk clean, organized, and free of paper so you can quickly locate items as needed.

Stop Spending too Much Time on Problem Accounts

Each insurance agency has problem accounts, such as accountholders who fail to make payments on time or come in to pay policies. Agents waste a lot of time serving these clients. They have to track down past-due payments or spend 15 minutes or longer handling in-person payments. These accounts are a drain on time and resources, and they typically don’t yield high commissions. The time and resources could be better spent on high-tier clients.

Agents can free up resources by spending less time serving problem clients. One way to do this is to require that customers pay online. You can use a tool like InstaCheck from Jenesis Software to accept checks without seeing clients in person. This simple change saves lots of time that agents can use on their high-tier clients.

Always Have a Plan

You can also save time by planning out your daily, weekly, and monthly tasks. Start with a monthly plan that includes your big projects. Then, create a weekly plan each Sunday to address additional goals and needs for the week. Finally, write a small daily plan each evening. This can include smaller items that you need to cross off your to-do list. Make sure your plans flow and don’t overlap.

Stop Multitasking

Multitasking might make you feel like you’re getting more done, but it actually kills productivity. By spreading your focus across different tasks, you will work slower, and you’re more likely to make mistakes. You’ll also feel stressed out and not nearly as creative when you do this. Instead of multitasking, focus on a specific task. Finish it and move onto the next one. This is another area where planning can help: It enables you to be able to work down your list and complete one task at a time.

Start with the Most Important Task Each Day

It’s normal to feel a bit anxious about your most important task of the day. If you put it off, that anxiety will creep into all of your work, making it hard to get things done. Avoid this problem by tackling the most important tasks first thing each morning, even before you check your email! Then, when you finish that task, you can check your email and handle other duties. It will be much easier to focus and fly through your to-do list once you get the pressing task out of the way.

Knock Out Tasks that Can Be Done in Two Minutes or Less

Once you finish the most important task, see which items you can complete in two minutes or less. These tasks are often pushed back, making it easy to fall behind. When you tackle them head-on, you can clear your to-do list quickly. That sense of accomplishment can make you even more productive.

Get Rid of Distractions

It’s impossible to be productive when you’re surrounded by distractions. Every time you’re distracted, you have to refocus on the task at hand, which can cause even the simplest of tasks to take twice as long. Text messages, social media, excessive noise, and internet use are all common distractions. Get rid of them so you can put all of your attention into work.

Make Use of Technology

Technology can help you boost your productivity quickly. An insurance agency management system like JenesisNow can help you streamline collecting leads and managing customers. You can even automate some of your daily tasks so you can focus your energies elsewhere.

Embrace First Call Resolution

You likely waste a lot of time calling customers back. You’ll save tons of time by embracing “first-call resolution.” Complete transactions during the first call so you don’t have to play phone tag over the coming weeks and months. When you complete everything with that first call, you can move onto the next customer with ease.

Time Management for Insurance Agents – The Key to Growing an Agency

Insurance agencies that use the correct time management strategies improve productivity and sales. If you want to grow your insurance agency, start by incorporating these time management tips. Stress will go down, and sales will go up, and your agents will get much more done.