15 Insurance Broker Hacks

Insurance Brokers have a lot to juggle, especially since independent agents have so much information to learn and endless potential to sell to almost anyone! To help manage, optimize, and excel your business, here are 15 Broker Hacks we think will help YOU take your business to the next level!

Calendar blocking

Though this may seem like a normal time-management recommendation, calendar blocking can be ESPECIALLY useful for insurance brokers who want to stay busy and stay productive. Calendar blocking can help you structure your week by planning appointments, cold-calling, networking events, table tops, and whatever else helps you stay on track.

Call clients an hour before the appointment

One thing that helps reduce cancellations and saves time is calling a client an hour before the appointment to let them know you are on your way, even if you haven't left and are 20 minutes away. This call not only ensures the lead remembers the appointment and is waiting for you, but also doesn't allow the for a last-minute cancellation issue.

Have a follow-up process

Whether you manually have a step-by-step plan for follow-up or an automated CRM retention system, make sure to have some sort of process when following-up with a client. This can take place after they don't answer your call, after the first appointment, or even after a sale. Always make sure to retain your customers AND prospects by having a process to follow.

Utilize unique marketing tactics

Marketing has been around for centuries, meaning that classic marketing tactics have been tried and tried again. It's important that as time goes on, we evolve our strategies and keep people interested in order to get prospects' attention! Whether using something as small as a magnetic business card or as big as a car wrap, you need to think outside of the box!

For more ideas, check out THIS VIDEO of 7 Unique Ways To Market Yourself

Stay up to date with your carrier portals

Many insurance carriers provide portals for their contracted agents, filled with a plethora of information and tools. Some portals even provide their own product-specific training and deliverable marketing products. It's important to stay up-to-date with these portals to get the most accurate and current information.

Form partnerships with doctors and pharmacists

Creating strategic partnerships is an essential tactic to having your business work for you, rather than the other way around. Some partnerships, like those with doctor's offices or pharmacies, are the perfect way to get prequalified referrals without even trying. PLUS, now you have a trustworthy doctor or pharmacist to send your clients to when they need help.

Use statistics to your advantage

One of the best ways to understand your consumer is by looking at research that has already been done! For example, did you know that a 80% of sales are made after the 5th contact? AND that most sales representatives give up after the 1st attempt to follow-up? These statistics are essential to keeping you motivated, knowing that it may not be you or something you are doing wrong, but rather the client simply hasn't been contacted enough!

Set aside a day JUST for training

Many insurance brokers tend to think that once they get their license, the learning part is over. However, this couldn't be further from the truth. Every single year, carriers reveal new plans, benefits, changes, and more! Not only that, but the world is forever changing, which also means the insurance industry itself is forever changing. It is so important to stay up to date with this information so that a client knows that they can trust you and that you have the most accurate information possible. Some agent portals offer their own training platforms, but your agency may offer sales training of their own! For example, you can check out this page below to learn about the Idea Insurance Agency training platform called Idea University!

Click Here To Learn More!

Use carrier marketing products

Another helpful tool inside your agent portals is marketing products made by the carriers themselves! These products can range from table top banners, to flyers, to even carrier-branded goodies for your clients and prospects. Also, if you don't want to have to spend the money on these marketing products, you can at least get FREE flyers that can be personalized and printed out from your own computer!

Make sure EVERYONE knows what you're doing

One of the biggest tips of selling is making sure EVERYONE around you knows what you're doing and how you can help. We know you may not want to try to sell to your friends and family, but, at the very least, they should be aware of what you are selling and how it can benefit others in case they interact with someone who needs it! Stay active on social media and with the people around you to ensure you are well-known among your peers.

Ask for referrals at the end of every email

To make sure you are always asking for referrals without even thinking about it, add to your email or text signature to clients letting them know to refer anyone who may need your help. This is a very passive and non-invasive way to ask for a referral while also not forgetting the crucial question.

Double-book your appointments

Though seemingly counterintuitive, it can be quite advantageous to double-book your appointments, ESPECIALLY in a time as busy as AEP. Though, you never want to see in a rush during an appointment with a client.

To make sure you utilize your time as best as possible in the right way, check out the following video called Why You Should DOUBLE-BOOK Your Appointments

Save time when checking your contracts

Yes... we're mentioning carrier portals again. Instead of calling your agency or the carrier's agent support, which can take hours, you can save time just by logging into your agent portal and searching for the information on your contracts. Although this is only available for some products, many carriers have all of this information ready and available for you just a click away!

Sign up for carrier newsletters

Did you know that carriers actually have newsletters that you can subscribe to in order to receive updated information on plans, resources, events, and more? Try signing up for these newsletters to stay up-to-date with specific carriers, even if it's just the ones you sell the most!

Keep reminders of your goals around you

Though cliche and cheesy, it's always good to keep your goals in mind at all times. Whether you are in the industry to make a certain amount of income, to provide for your family, to be able to afford a home, or something else, NEVER lose track of your goal! Keep a picture of your family on your desk or set daily reminders on your phone — whatever it takes to keep your head in the game!