Someone asks you what you do for a living. You answer:
(a) I sell insurance. OR
(b) I advise business owners on managing risk and protecting their assets.
True, your agency does “sell” insurance, but behind every policy recommendation is your valuable knowledge and experience. Your clients rely on you for insurance advice because they know they need insurance, and insurance is not their core competency. This is why you need an independent insurance agency consultant.
Any responsible independent agent is constantly looking for ways to improve and grow their agency. It’s a given that you’re going to need specialized knowledge to guide you. Since such expertise is not likely to be found within the agency, you need a consultant. Your accountant and attorney are excellent examples of this because they are trusted business advisors (a.k.a. consultants).
How Else do Independent Insurance Agencies Use Outside Business Consultants?
Consultants can offer you advice in any number of areas including:
— Strategic planning
— Staff motivation
— Executive coaching/life coaching
Just to name a few!
When you’re seeking expertise in a particular area, it pays to contract the best you can find. The main benefits of using a top-notch insurance agency consultant include:
1. You don’t know what you don’t know, but consultants do. They offer an objective, insightful view of where you are now, logical next steps, and how to measure improvement.
2. Consultants are specialists in their field, bringing you a depth of knowledge as well as the latest trends and tools your agency can use for specific areas of improvement.
3. They can draw from what’s worked for clients similar to your agency, but they can also draw from clients outside of your industry.
In short, business consultants make your business better.
Experience with Insurance Consultants
We say this from the vantage point of being part of the insurance industry’s ecosphere. ePayPolicy’s niche is IndieTech. As such, we get to rub elbows with and learn from experts across the spectrum of industry vendors and consultants.
One of our all-time favorite coaches/consultants is Mike Stromsoe at unstoppableprofitproducer.com. Mike’s goal is to help independent insurance agencies become (wait for it …) “unstoppable.”
Things we love about Mike Stromsoe:
1. He’s been there/done that when it comes to insurance and is still doing it. Mike joined his father’s agency in 1986 and then started his own agency from scratch. It grew from $0 to $1M in revenue in just nine years. He still runs this agency, along with two other businesses.
2. Mike is the real deal. He delivers results based on practical, proven methods developed over decades in business. For example, Mike’s most recent book The Unstoppable Profit Producer offers “a proven 3-step blueprint to grow your business and live your life on your terms.”
3. Mike states that “millionaire agents and entrepreneurs think and act differently than others.” Do you think and act like a millionaire entrepreneur yet
4. Mike Stromsoe has graciously offered his services for the 2020 InsurTech Award, presented by ePayPolicy.
That’s right.The 2020 InsurTech Award grand prize winner will get cash, products and services valued at $7,500, including a full year of consulting with Mike Stromsoe. From niche marketing to client nurturing and goal setting, Mike can help you tackle any business challenge you’re facing, or any goal you’re looking to reach.
Want to Score Some Quality Time with Mike Stromsoe?
Start by going to the 2020 InsurTech Award website and applying for free—it only takes 15 minutes! Regardless of your score or if you win the Grand prize, every agency applicant will get a customized Insurance Technology Adoption (ITA) Score, with valuable tips to help you become more competitive.
Read up on the award’s purpose and judging criteria. When you’re ready, apply here.
P.S You may also want to check out “Money Follows Trust,” a Mike Stromsoe podcast featuring our own Todd Sorrel.