Where do you receive the best insurance broker services? Being independent, you have an opportunity to talk with many an insurance marketing professional. Find out if insurance broker services are better when you speak to the professional or a brokerage staff member.
Recently I saw an ad by a large insurance marketing firm that I considered to be bragging and misleading. I could imagine a prospective independent insurance broker interpreting the possible meanings in this advertisement. This would include how the broker would be treated if an agreement was rendered to write business. For this article, I am going to cover the repeatedly overlooked area of proper broker service.
TALK TO THE EXPERT
Many independent insurance brokers are well-established experts in their specialized insurance area of expertise and knowledge. Their expertise is what instills confidence for their clients to buy from them. This insurance expert seller personally does not have a staff of 20 agents that could easily take his or her place and consistently make the sale. Prospects and clients ALWAYS want to speak to the best insurance professional. That means the insurance expert who uncovers their emotional needs and provides the product that shows them how their needs will be satisfied. There is one and only one insurance expert needed. You cannot produce a programmed clone to be as effective as you.
WHERE IS THE INSURANCE MARKETING PROFESSIONAL?
I dare you to do this self administered beneficial test. Call one of these super-sized insurance marketing or brokerage firms and ask to talk to the head of the company. There is less than a one out of twenty chance you will get through. If you should, you will be abruptly shifted to a “qualified impostor” to answer your questions. The true insurance marketing professional and members of his or her top echelon are engaged in projects far too important to talk to a prospective broker like you. Their duties very often include checking daily economic patterns that could affect their profits. Or the pro could be off to see the wizard. By this, I mean meeting with a prospective insurance company’s wizard of product introduction. The purpose being to see about bringing aboard this new insurance company if it will increase profit margins.
I give this term to members of a large company’s brokerage staff of advisors. If the marketing firm has a support staff of say 70 or more members, 25 to 30 of them are on the brokerage staff roster. These players handle the position of explaining all the benefits of using their products. In addition, they might not handle your insurance broker services. This is all too frequently one of the duties of the remaining back office support staff. These brokerage players are of minor league status in comparison to the insurance marketing professional pitchers at competing firms.
EVERY PICTURE TELLS A STORY
The advertisement, as a sign of strength, prints a picture of every member of the brokerage staff. It might at a quick glance fool some brokers into thinking this is a picture of the marketing company’s power and potency. My non-microscopic examination quickly projects a feeling of staff inexperience and weakness. Why? Almost every member of the brokerage staff looks to be under age thirty. If you were one of very few $100,000+ net income brokers at that ag. ask yourself this. Would give up your uprising and promising career to join them as a lower paid brokerage staff member? Hit the nail on the head. Not many large brokerage advisory members have more expertise than you, the prospective broker does. So can they provide really answer your answers and provide the insurance broker services you expect?
I say possible disadvantage only because there might be a few rare existing jumbo marketing firms primed like a well-oiled machine producing action and results. With the others, chances are numerous brokerage staff members will not be there in 5 years, but you will still be around. If you contracted with the firm to sell say annuities, term life, and major medical, you might deal with a different person for each product. Do you see how you could arrive at the feeling of being treated like a number? Consider that as being a broker you might be earning the firm thousands in overrides from your yearly production. Flipping the coin, what unique communication, information, lead assistance, or value is being returned back to you?
There are superior and sub-par insurance marketing, brokerage, and recruiting operations of all different sizes. A brokers choice is rarely limited into being forced where to contract brokerage business. As a result, most choose doing business with those companies and firms that respect and fulfill insurance broker services like expected.