The First Steps to a Successful Independent Insurance Agency

Being a successful independent insurance agency can lead to higher commissions, increased close ratio, and other enticing benefits. But starting an independent agency and achieving those goals takes planning and preparation. You need to keep in mind some basics as you take steps to start your new business before you get to all the good stuff. AAI has created a successful strategy to help independent agents hit the ground running, but there are a few things you need to have taken care of before we start.

Name Your Agency

You need to give your agency an affirming presence. Give it a name that resonates with your vision and business goals. Naming your agency should provide clients some insight into what you do, but not be so specific that you can’t grow as an agency. Make sure to research your chosen name, so you can get the rights to that name, including the domain name for your website and the handles for your social media accounts. Ensure that no other company in your industry or your local area is already using your chosen agency name or something similar. Make it original, clear, and timeless.

Acquire a Physical Storefront or Office Space

To start an agency, you need a physical spot in your community and market your new business, and yourself to the neighborhood. Having a physical storefront or office space is a requirement for every agency. It will give your agency credibility and legitimacy and be a physical presence in the local community. Carriers will also require a physical space and a business address if you are going to represent them. 

Establish your brand