Is Your Insurance Agency Broken?
Seth Godin, bestselling author and marketing guru, is the king of finding ‘broken’ things. If he says it’s broken, it’s broken, as he points out in this TEDTalk:
Let’s recap the 7 ways that Godin says things or ideas can be broken:
- Not my job - nobody feels it’s their job to fix the broken item or idea
- Selfish jerks - something is broken because the person who made it doesn’t care enough to have it work correctly
- Contradictions - something is broken because it just does not ‘fit’ the need
- I am not a fish - the broken item or idea was thought up by someone who wouldn’t ever actually use it
- I didn’t know - the creator really just didn’t know it would turn out that way
- Broken on purpose - the creator is trying to drum up buzz around something that is purposely broken
- Just broken - as he says, it’s just broken!
Most of the examples he uses in his video are comical, but it’s a great way to get yourself in the mindset of taking a deeper look at your agency. Is your insurance agency broken? Are there processes that you’re still utilizing that you know need to be changed or improved, and yet they’re still that way?
A good way to identify if something might be broken is to simply think about the things you do in your agency that truly frustrate you. You find yourself saying, “there has to be a better way to do this.” And there probably is, but many agencies fall into letting things remain ‘broken’ because they fear actually changing it will only make it worse. They feel ‘safer’ keeping all things the same.
However, these are the agencies that fall behind. When businesses fail to continually adopt new technology to improve their processes, they fall further and further behind their competitors.
Common areas insurance agencies find processes that are broken are within overall book-of-business management, sales (especially speed of follow-up), and client satisfaction.
Are you missing out on sales because you aren’t notified immediately of a new lead and thus don’t follow up quickly enough? Are you losing clients due to lack of communication? Are you spending days or weeks processing commissions? Are you at risk of losing data because you’re manually backing it up?
These struggles probably sound familiar, especially if you’re still using Excel spreadsheets or paper files. Don’t worry; you aren’t the only one. One-fourth of the insurance industry still is! But as we can see, these ways of managing your book-of-business are broken.
To learn more about why Excel spreadsheets aren’t the best choice for insurance agencies, check out our webinar:
[Webinar] 7 Reasons You Shouldn't Use Excel to Manage Your Book-of-Business
Over 25% of insurance agencies are still using Excel spreadsheets or paper files to manage their book-of-business. Learn 7 reasons agencies are making the switch to an agency management system.
Check it out
Image credit: Robert Katai