Insurance Broker Blog

5 Tips for Success as a New Insurance Broker

Being a new insurance broker can be challenging but in many ways rewarding. If you're willing to put yourself out there and learn as much as you can by networking or through experience, you will truly become a successful insurance broker. To help you get started, here are 5 tips to follow through your insurance broker journey that will boost your way to success. 

1.  Market yourself online.

As of 2017, there were 3.4 billion internet users worldwide. People aren’t just using the internet to shop from Amazon. They are also purchasing benefits at the click of a button. So, take advantage of technology and use it to market yourself online. Here are a few ways:

  • Website – In today’s world, people expect to find your business online; so, it’s a good idea to get a website that contains detailed information about your business, services, and best ways to contact you. 
  • Social Media – Use social media to start a conversation with prospects by sharing benefits trends, workplace trends, industry news, wellness facts and more. Naturally, you want your readers to talk back to you via comments or likes. It’s not a conversation if you’re the only one talking.

Leveraging these tools will help you earn your prospects’ trust, position yourself as their reliable benefits advisor, convert them into customers who are so pleased with your services, that they are happy to recommend you.

2. Network – network  network.

Networking is considered one of the most important steps to becoming to successful broker. You have to constantly expand your exposure to people both in your industry and related ones. Look for local business networking groups, industry related organizations, and experienced peers to enhance your knowledge, client base, and referral base. Remember, you are a relationship builder, and networking allows you to expand and build these.

3. Know your products and industry.

We all know what it’s like speaking with someone who has no idea what they are talking about…or at least, not well enough to explain it. The heart of your role is being a benefits expert. To truly bring value to clients, you must know the ins and outs of the products that you are selling. For example, be able to explain the differences between a dental HMO and PPO plan. Also, keep your finger on the pulse of the industry so you can provide informed guidance to your clients. They are looking to you to help guide them in selecting benefits that best fit their companies and employees. And don’t worry about not knowing everything. Nobody does. You’ll gain more credibility and trust by admitting that you don’t and getting back to them quickly with accurate information.

4. Become a great communicator.

“Communication is the most important skill any leader can possess,” per billionaire entrepreneur Richard Branson. This quote is from an entrepreneur, like you, about leaders, just like you. Whether it’s a phone call, an email, a proposal or a presentation, effective communication is an art that you must hone to be successful. You could be the real deal but if you lack the ability to communicate with clients in a way that engages them and shows them that you truly have the solutions they need, this could hold you back. So, find resources that can help you tighten up your verbal and written communication skills. Doing either of these poorly can hurt your reputation.

5. Become a relationship builder.

When it’s said and done, people do business with people they like and trust. So, work hard to build extraordinary relationships with people. There are many ways to do this. For starters, learn how to build rapport and connect with people. Also, clients must know that you understand their needs. Ask the right questions and allow them to do most of the talking so you can find out what truly keeps them up at night. If they believe you are just after a sale, it’s over! What’s more, is that they need to trust you. Follow through when you make promises or commitments.    

Utilizing these five tips for success as a new insurance broker can help you develop the confidence, client base, and relationships that you need to make this new venture as exciting and rewarding as possible!

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