Driving Success with Innovation in the Insurance Industry

Driving Success with Innovation in the Insurance Industry

Consumers have a lot of options when it comes to signing up for insurance coverage. That’s why it’s so important as an independent broker to use proven growth strategies that drive success. Now that you’re no longer a captive agent, you can be as creative as you want with your business. Grow bigger, faster, more efficiently with these innovative marketing strategies.

Establish Relationships with Insurance Providers

Consumers are going to choose you over a large chain for two reasons: your winning personality and expert customer service, and your ability to navigate the insurance marketplace. Familiarize yourself with the products from some of the biggest dogs in town. You’ll need to know the ins and outs of these policies to match consumers with a policy that gives them what they want. Consumers just don’t have the time, or knowledge, to go through the details of every plan. That’s why they’re coming to you in the first place. Leverage your knowledge of the marketplace to design an innovative strategy that meets the needs of your customers.

Get Press with a Public Relations Strategy

Everyone needs to do public relations these days. No matter how small your business might be, you can always start reaching out to local media outlets with updates from your business and news about the insurance industry as a whole. You can talk about the latest trends in the industry or mention new products and services from some insurance providers. If you participate in an event nearby, hire a new employee, or give back to the community, don’t forget to send out a press release.

When doing public relations, focus on telling the story of your business. Human beings are wired to perceive the world through storytelling. Think about why you decided to start your own business. Being transparent and authentic will help you bring in new customers and establish a relationship with the media and your peers.

Give Your Customers a Reason to Spread the Word

The needs of your customers should always be top of mind. But you can push the envelope one step further if you give your first customers a reason to spread the word. Insurance is a people business, and your reputation is more valuable than gold. Encourage your customers to recommend your business to friends and family. You can always give them a special perk to return the favor. You also might want to host an event in the community and ask your customers to attend. You might have to spend some money but connecting with other people in the community is the best way to get some new customers in the door.

Staying on top of everything can be overwhelming when you’re just starting out as an independent insurance broker. Get the latest news and information from Affordable American Insurance.