Why Insurance Agents Should Have a Dedicated Web Site

The ever expansive attributes of the web have made it more or less mandatory for serious business professionals to host their own sites. People often tend to search on the net first to look for insurance related information. If they cannot find your site, they would invariably end up looking for information from a competing agency. Also in many cases customers decide to directly contact the agent only if they are happy with what they have just read on the site. Hence it is crucial for all agents to have their own web site so that all potential customers can be properly routed to them.

They are more professional

Even if the agent works from a condo, a good looking site will lend you an air of credibility that can do wonders for business. People often have a tendency to assume that a good looking and well informed site correlates to a big and professional insurance firm. Having your own insurance site has another added benefit as well. You can have your e-mail id extensions with your url ID rather than using regular service providers like Gmail or Yahoo. These small details go a long way towards building your credibility as a reliable insurance agent.

Increasing relevance of buying insurance online

It is way easier for users to buy insurance policies online compared to having to run up and down various agencies. There are several insurance sites on the net that cater to specific geographically marked states and cities which makes it highly convenient for users to get quotes and other information. They can then compare this with what is being offered by other competing agencies and make informed decisions based to that effect.

Your competitor has a site

All insurance companies have realized the need and the scope behind hosting a well developed site on the internet. The more you delay, the better the chances of your competitors towards acquiring a sizeable share of prospective clients.

Market expansion

A website allows the agent to expand their opportunities and reach out to a wider audience. Put in some effort to develop key word rich content and market the site online using SEM techniques. This will help you rise up the ranks in search engine queries and will bring a considerable amount traffic to your site. You can have all the necessary contact information posted on the site so that the client can get in touch if they are interested.

Web sites that are quote featured enjoy greater flexibility and are more popular with users. It's easier to make comparisons with other schemes and the visitor does not have to download multiple documents which can become tedious and annoying to sit and sift through.

It's Insurance Renewal Season - Make Sure You Help Your Clients Get Prepared

Fall is here! That means it's time to consider all of your clients whose business insurance policies are coming up for renewal at the end of the year. It's important to reach out now and help your clients not only renew their policies, but ensure that they have the right coverage, taking into account any changes that have occurred to their business over the past year.

Rule #1: Don't take any renewals for granted

Just because you sold a policy to a business client, there's no assurance they'll automatically renew. More than ever, businesses are looking for quality and service - and this time of year, your clients are being pitched by other agents promising better quality and service than you can provide. (You know this is true, because you're probably making the same pitch to other agents' clients right now.)

The good news? You have the advantage with your clients because they already know you and trusted you enough to purchase a policy. Being proactive now will help you maintain (or expand) your business with existing clients, as well as assure them that you are looking after their changing insurance needs.

And remember: No matter how much effort it takes to reach out to your existing clients, it's always easier (and cheaper) to keep a client than to find a new one!

Rule #2: Help your business clients analyze their coverage needs

Prepare a year-end checklist to help you and your clients review any changes to their businesses and how those changes affect their insurance needs. Changes to discuss with your clients include:

    Revenue: If a client has experienced revenue growth in the last year, offer your congratulations - but remind him or her that the company's level of insurance may need to be revised to protect their revenue stream.

    Equipment and inventory: Yearly variations in the amount of equipment a business owns and uses - as well as the amount of inventory it maintains - are crucial in determining the proper level of business insurance coverage. Increases generally require more coverage to fully protect a company's assets, while decreases can allow a business to reduce coverage and redirect cash flow to other business needs.

    Employees and payroll: Changes in payroll have a significant effect not only on business and general liability coverage, but workers' compensation coverage as well.

    Government regulations: Make it a point to stay informed about regulations that affect your clients and their insurance needs.

Always keep in mind that, when appropriate, helping clients save money on insurance is a great way to build trust over the "long haul" - which can lead to many more renewals.

Rule #3: Help your clients understand new trends in business coverage

Are there areas of risk that, due to changing technology and other factors, your clients need to consider? For example, "data breaches" where confidential information is compromised are a threat to just about any company, large or small. This could happen if a laptop is stolen or confidential papers aren't properly shredded. Data breach coverage is one emerging area of business insurance that many of your clients should be considering.

Getting the Right Level Of Critical Illness Cover For You

Fall is here! That means it's time to consider all of your clients whose business insurance policies are coming up for renewal at the end of the year. It's important to reach out now and help your clients not only renew their policies, but ensure that they have the right coverage, taking into account any changes that have occurred to their business over the past year.

Rule #1: Don't take any renewals for granted

Just because you sold a policy to a business client, there's no assurance they'll automatically renew. More than ever, businesses are looking for quality and service - and this time of year, your clients are being pitched by other agents promising better quality and service than you can provide. (You know this is true, because you're probably making the same pitch to other agents' clients right now.)

The good news? You have the advantage with your clients because they already know you and trusted you enough to purchase a policy. Being proactive now will help you maintain (or expand) your business with existing clients, as well as assure them that you are looking after their changing insurance needs.

And remember: No matter how much effort it takes to reach out to your existing clients, it's always easier (and cheaper) to keep a client than to find a new one!

Rule #2: Help your business clients analyze their coverage needs

Prepare a year-end checklist to help you and your clients review any changes to their businesses and how those changes affect their insurance needs. Changes to discuss with your clients include:

    Revenue: If a client has experienced revenue growth in the last year, offer your congratulations - but remind him or her that the company's level of insurance may need to be revised to protect their revenue stream.

    Equipment and inventory: Yearly variations in the amount of equipment a business owns and uses - as well as the amount of inventory it maintains - are crucial in determining the proper level of business insurance coverage. Increases generally require more coverage to fully protect a company's assets, while decreases can allow a business to reduce coverage and redirect cash flow to other business needs.

    Employees and payroll: Changes in payroll have a significant effect not only on business and general liability coverage, but workers' compensation coverage as well.

    Government regulations: Make it a point to stay informed about regulations that affect your clients and their insurance needs.

Always keep in mind that, when appropriate, helping clients save money on insurance is a great way to build trust over the "long haul" - which can lead to many more renewals.

Rule #3: Help your clients understand new trends in business coverage

Are there areas of risk that, due to changing technology and other factors, your clients need to consider? For example, "data breaches" where confidential information is compromised are a threat to just about any company, large or small. This could happen if a laptop is stolen or confidential papers aren't properly shredded. Data breach coverage is one emerging area of business insurance that many of your clients should be considering.




Taking up critical illness cover provides you with piece of mind. If the worst should happen, and you are diagnosed with one of the recognised serious illnesses, then your policy can pay out a monetary sum to cover both the initial expenses relating to your treatment as well as the ongoing costs incurred during your recovery.

However many people grossly underestimate the amount of critical illness cover they really need. Though you may consider that if you were ill you would only require your policy to cover any loss of income you incur, consider all the other activities that you carry out which someone may need to do on your behalf.

If you are a parent, then it may be the case that you will no longer be able to care for your children or take such an active part in their lives. If you want to ensure that your kids have as much stability and continuity as possible when you are ill, then you may need to find additional funds to cover childcare, transportation and even residential care should you need to spend some time away from the home for treatment.

For those that live alone or do not want to put the onus of nursing on a loved one, critical illness cover may also need to help with the financial cost of housekeeping, basic laundry and even personal care when you are unable to support yourself.

Once you have recovered from your illness, it may be necessary to change your lifestyle to ensure a continued and healthy future. If this means reducing your hours at work, transferring jobs or completely changing your career, the financial implications can be immense but the right critical illness cover can help.

An individual is five times more likely to rely on critical illness cover than the standard life cover taken up with the average mortgage. And though taking the first step in acquiring critical illness protection is a great way to start, ensuring that your cover is going to be sufficient when your situation changes is essential for your ongoing peace of mind and the security of your family.

Conversely there also a number of people who hold critical illness cover above the level that is strictly required. Individuals who have been oversold this type of protection will pay out higher premiums than they really need to, increasing their monthly costs unnecessarily.

Critical illness cover is a relatively cheap type of insurance and getting the cover right is essential to ensure you have everything you need if the worst should happen without surplus monthly costs that could affect your situation today.

To make sure you have the cover appropriate to you and are not either under or over insured, talk to an independent insurance broker about your needs and personal situation. They will be able to provide experienced and professional advice to ensure that you have the protection to keep prepared no matter what hurdles life may throw your way.

How a Commercial Insurance Broker Can Help You

Insurance brokers have become increasingly more important today compared to many years back. Given the heavy loads of competition in the California insurance market, customers should be kept well-informed so that they won't be led astray into getting frivolous deals. Most especially in the aspect of commercial insurance, entrepreneurs are usually better off with brokers beside them.

What is a Commercial Insurance?

Commercial insurance is just an insurance to protect businesses in the state. It is considered as one of the most vital investments for business operators. Depending on the specific type of commercial insurance, this security protects various aspects of the business. It can provide financial security in times of theft, liability, property damage, work-related employee or customer injury and even during times of business interruption. Those who have not secured insurance for their business are at risk of sudden financial depression. It has also been observed that uninsured businesses place the personal assets of the owner at risk.

Before setting out for an insurance hunt, make sure that you are already equipped with ample knowledge of what you really need. For example, you may be better with one specific type of commercial insurance, rather than having all forms of commercial insurance in one package. If you don't have company vehicles for operating your business, you can do away with auto insurance and just go for property insurance instead. But you still need to know everything about these specific insurances because nobody is certain when your business might expand. Together with this growth is an expected change in insurance needs.

Looking For an Insurance Broker

Finding the right commercial insurance in California involves tapping the services of a trusted insurance broker who, as much as possible, is specializing in business insurance. It is important that you interview more than two brokers and check who among them makes you more at ease when it comes to dealing things. It is expected that he discusses the different options that surround commercial insurances.

As there are various classes of business insurance, your broker can guide you through the entire process. Using his expertise, he can easily recommend the most suitable plan for your immediate needs. A good place to start looking for brokers is the Internet. If not, search for them via networking organizations for local businesses. Your friends in the industry or business advisers may also refer you to seasoned brokers in the state.

Insurance brokers are in place to make it easier for business owners to get the right insurance. However, even with their ability, it may be difficult for some to get one most probably because of their company background. For example, if the business has already suffered some degree of loss in the past then it may be considered a high-risk entity. This means most insurers will back out from making any deals with you. Another reason for the increased difficulty in procuring commercial insurance is the owner's history of making frequent claims, which easily makes him a liability. In addition, new businesses will surely have a harder time getting insured because of not having a proven history of business sustainability and strength compared to more established businesses. Still, business owners have higher chances of sealing the best deals with a broker nearby.

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.

Planning for Uncertainty

The traditional business plan includes short-term and long-term goals and projections. But, how do you plan when you can't guess what will happen? Some things are shifting faster than you can keep up with, while other things can drastically change based on politics. Part of the reason for our current economic challenges is due to short-term thinking. Traditional business planning is becoming obsolete.

However, if a business abandons long-term planning it has no direction and will be totally reactive and not proactive. The focus on short-term trends will cause a business to chase after opportunities, instead of creating them.

So, what is a business to do in these uncertain times? The key is to develop a plan that has both a flexible foundation and scalable systems.

Consider the typical insurance agency. It would have various lines of business; personal lines, commercial lines, group benefits, etc. Some agencies might have several niches like construction, retail, D&O, etc. These business segments are the foundation of the business.

The business segments can be considered as something closer to long-term goals. It is easier to predict that health insurance is currently uncertain, while personal lines seems stable at this point. The key to long-term planning is to accept that one or more segments might not perform in the future. The agency needs to plan for flexibility between departments.

Regarding insurance agencies', if health insurance sales drop off significantly, how can those resources be redirected to other lines? Or, what options are available to decrease overhead? It is important for a business to add or delete segments of business as trends change. In most cases, these trends would take about five years, plus or minus a couple of years.

Create a Scalable Plan
Once these segments are identified and trends established, the next steps is to create a scalable system. A plan needs to be established to grow or shrink each segment of business based on current trends. Let's assume the contractor's niche is shrinking. What can be done to increase sales in the other niches? Scalability means to plan for increasing or shrinking a segment of business based on demand.

A scalable business is able to increased revenues while the ratio of cost to revenue is less to deliver than current ratio. In other words, the cost of growing is far outweighed by the resulting profits. A scalable business is one that can take on new clients without increasing workload.

Businesses will always have operating costs, but scalable businesses try to keep low their variable costs -- or the costs incurred with each customer they gain. A business that follows a scalable model will not have its cost per customer increase, even if it gains 100 customers overnight.

Insurance Sales and Business Building Ideas

Four Insurance Business Building Keys

1) Retain Current Customers

It takes five times as much time, money, effort and energy to get a new customer as it does to retain a current one. Current customers are your foundation and the first step to building a business is keeping that foundation firmly in place. You keep that foundation in place by regularly communicating with customers, delivering top-notch customer service, and overall making sure your customers are extremely happy with you and the service you are providing. You should be asking, and otherwise surveying customers, on a regular basis as to what they like and what they think you can improve upon. When you do speak with customers, let them know you appreciate their business. Never take customers for granted or let your service slip.

Do what you can to build a personal connection with customers. Send thank-you notes, cards on special occasions, and find other ways to add that special touch and let customers know you care. We know that people do business with people they know, like, and trust, and in fact, studies show that 97% of people list that as the number one reason for doing business with a particular company. It's simple, before a friend leaves you for a better price or perceived better service, they will at least pick up the phone and call you.

Note: I realize there may be some customers you don't want to retain and that's fine, just make sure to remain professional and above-board. You don't want to tarnish your image or give anyone any unnecessary ammunition against you.

2) Review Coverage

Not only is reviewing coverage on an annual basis the right thing to do for your customer, it can also provide the opportunity to increase coverage and add other items thus adding premium dollars. Of course you only suggest increasing coverage if it is necessary, never in an attempt to simply increase premium and make more money at the expense of your customer. In addition to opportunities for more business, reviewing coverage helps ensure that both the customer and you are covered in the case of a claim, as most complaints come from inadequate coverage and a lack of communication.

3) Inquire

Studies show that the average policy holder has 6-7 policies while each agency has only 1.5 of those policies. During your annual review and other conversations with the customer, you want to inquire about other policies the customer might have that you can get.

For over 20 years I had my auto policies with one agent, my home-owners with another, and several other policies in other locations. This was due to several reasons, but it is clear that I am more the rule than the exception. Not once in that twenty-year time frame was I asked by any of my agents about other policies I had elsewhere. Not once. If they were trying to get rid of me, I would understand however, due to the fact that I have never had a claim, pay my above-average premiums in full with the first invoice, and am otherwise a good customer, I can only assume that they are missing the boat. If someone has a home-owners policy, there is a very good chance they at least have an auto policy or two. It's as simple as saying something along the lines of, "By the way, if we bundle your auto and home-owners I may be able to save you some money. Can I simply give you a quote if for no other reason than to keep the other guy honest?" With one or two simple questions during each review, it's entirely possible to double your business.

4) Pursue New Business

This one is pretty self explanatory and should go without saying. In addition to adding new customers to your current base, you will occasionally have to replace customers that die, ones you decide to let go, or ones that leave for some other reason.