Bent on Growth? 5 Clever Ways to Scale Your Agency.

If you own or manage...

An insurance company of any size, you are undoubtedly looking for the means to catalyze growth. You can fast-track the scaling of your insurance organization by keying in on specific drivers of growth that live outside of your normal marketing plans. While some of these strategies may seem a little off-the-beaten-path for an insurance agent, they're tried and true in the startup world.

Let's take a look at some agile strategies that can help grow your insurance agency in unexpected ways.


 

Experiment

 

 

 

 

 

A big part of a successful business plan is the introduction of a healthy amount of experimentation. As leaders, we must be willing to take the path less traveled. Remaining open to new ideas and seeing all encounters as opportunities to expand your business make for a great start. Agile companies tend to try two, three, even four different tactics before going "all-in" on one plan. It might seem crazy, but your budget and ROI will thank you later. 

 


Use Selective Hiring Practices for your Agency

 

 

 

 

 

 

 

Stay on the lookout for insurance industry aficionados who can do what your team currently can't. If your personnel excels at sales, search for someone with extensive technical and underwriting skills. Don't over-focus on previous titles or attractive business cards in your quest to grow the agency. Zero in on what candidates can bring to the table and how such skills/experience complements that of your existing in-house personnel. If you feel comfortable, request referrals from clients, past managers, and look at their online presence. At the end of the day, the hire must prove their value, consistently. By vetting their personal and professional skills, you will make your life a whole lot easier down the road. The wrong hire can hurt your business, but the right hire can catapult you into a new stratosphere. 

 


Specialize and Incentivize 

 

 

 

 

 

 

 

 

 

 

 

The insurance industry is inherently competitive. If your agency doesn't offer something unique, you will have an uphill battle when it comes to growth. Target specific tactics to multiline policyholders that your competitors have overlooked or haven't perfected. If you see something going wrong in the local market, correct it with service. Such targeted efforts have the potential to reap enormous rewards, especially for your agency's reputation and referral programs. 

 

 

Attend Industry Events

 

 

 

 

 

Look at everyone you meet as a potential partner, client or even a prospective employee. Collect enough people, and you will assemble the network necessary to scale your insurance agency rapidly. Participating in insurance industry events will help you gain tremendous insight into competition and consumer behavior that your lens just can't magnify. These meet-and-greets offer valuable networking opportunities, informative seminars, the chance to learn new skills and take note of the latest trends. 

 

Regularly Upgrade Your Tech Tools

 

 

 

 

 

Implementing new technology and updating your existing tools sounds risky and expensive. It's undoubtedly a pain-point for any business owner. If your competition is evolving successfully, and you are ignoring trends, you will fall behind. Have everything from software upgrades to digital security enhancements, marketing, and advertising solutions reviewed at regularly scheduled intervals. As an example, tapping into the power of the cloud will significantly enhance both your and your clients' experience. All sorts of manual processes will automate with digital solutions, and cloud-based software can keep your yearly upgrade costs down. Changes like these will free your team for enhanced customer support, sales efforts, data management, and retention work. 


That wraps our discussion on uniquely scaling your insurance organization. As always, if you would like to learn more about the topic - contact the author. 

If you want to learn more about adding quality clients to your funnel, check out

EverQuote Pro.

 

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About the Author

EverQuote Customer Success

The EverQuote Customer Success Bot is here to educate and help agents grow their businesses!

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