Customer Loyalty: A Strategic Advantage in the World of Insurance
What can make your agency unique or different? Why should an individual or family do business with your agency instead of another one within a 20-minute driving radius? Are your products and services wildly different from your local or internet competitors?
Increase Your Business Through Partnerships
You know insurance is a people-centric business. You prepare your insureds with the proper tools and reduce stressors for them. Part of your reward is the satisfaction from helping people and making that human connection.
Is Good Customer Service Alien to Your Clients?
Knowing and communicating the lifetime value of a typical customer to the staff can provide them a framework for maintaining customer relationships, rather than looking at them from a transactional basis.
Build Your Agency
When we work with professional, independent insurance professionals who want to build their agencies, we meet partners and owners who want to grow their agencies in specific ways. One practice-development tactic that can be successful is to build a niche. This is a good way to grow your book of business when you do it in the right way.
Agencies Should Look at Employee Engagement
Some frightening possibilities follow: According to research, it is estimated that American businesses may only be operating at one-third of their capacity because of the lack of a true connection with their employees.
We were aware that any time people operate multiple locations or divisions, they are subject to a potential culture clash. But in preparing to help a build a team within a multinational client, we realized this can apply to much smaller organizations, even those operating locations across the street from each other.
Manage Yourself While You Lead Others
Today's best managers and agency owners are leaders focused on bringing out the best thinking and commitment of all employees in order to develop and sustain the most effective work processes and the highest quality products and services.
I am hesitant to refer to passion as a management tool because I don't want to advocate manipulation in its most negative form. Instead, I want you to approach this as a form of booster rocket that you can adapt and use to get to where you want to go faster.
We Don't Read Minds
I'll address one shortcoming in this article: not publicizing a list of corporate goals and objectives in priority order. Without a public list like this, people at every level of the organization are forced to guess at the most important criteria for making decisions.
How would we be operating our enterprise if we were going through a turnaround right now? That led me to think about achieving transformation by thinking differently- without going through the massive pain and suffering a turnaround typically involves.
The Self-Diluded Leadership Trap
It doesn't matter whether you look at elected officials like Sanford, Blagojevich, Clinton, or Nixon or famous individuals such as Falwell, King, Jackson, Skilling, or Madoff, the underlying behavior is identical. What led to their public dressing down was their apparent belief that the rules of conduct that apply to other people somehow don't apply to them.
Own Your Customers
For example, when I ask executives, "What is your unique differentiation in the marketplace?" or "What does your organization really excel at?" they often reply, "It has to be our customer service." Almost no one will admit to being lousy in customer service, anymore than they will talk about living in an average town with average kids.
Capitalizing on the Change Curve
Imagine there was a relatively simple tool that could help you understand and predict how members of your team and organization would likely perform over a period of time. You may already know it as the universal change curve or the forming, storming, norming, and performing curve, a variation on the work of B.W. Tuckman that originally appeared in 1965.
It's Never Too Late to Learn
Charles Darwin said, "It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one most adaptable to change." If ever in the past fifty years a business owner must learn to adapt to change, it is today!
Change Now or Die Later
Should you add a VP of CHANGE to your staff? Nutsy you say. Well let's take a closer look. Ten years ago would you have considered a comptroller, HR Officer, IT Director, etc? Leaders must do the right things so managers can do things right that will have positive impact on positive results.
Transitioning From an Entrepreneurship to a Professionally Managed Firm - Part 4
In this installment, we discuss the tactical transitions that must be successfully executed.
Transitioning From an Entrepreneurship to a Professionally Managed Firm - Part 3
In this issue, we will identify and help you better understand the four major stages that an agency/organization must pass through on its way to greatness as well as the typical characteristics of those stages.
Transitioning from an Entrepreneurship to a Professionally Managed Firm - Part 2
In this issue we will identify and help you better understand the six key organizational development tasks.
Transitioning From an Entrepreneurship to a Professionally Managed Firm
Starting with the most basic premise, entrepreneurs can face either the initial challenges surrounding creating a new venture from scratch, or building up a recent acquisition.
New Products - Do They Expand Your Book or Dilute it?
How do we make sure that adding products brings positive results, short and long term?
Build and Strengthen Your Agency-Carrier Relationships
What is reasonable for agencies and companies to expect from each other? What advice or requests do insurance industry executives and former industry executives have for the agency owners today?
Perpetuation Plan, Retirement Plan, Exit Strategy
While significant improvement over the last decade in the number of agencies that have realized
hte necessity of having a perpetuation plan in place has been made, further improvement is still needed.