Be a Student of Your Business: Know Your Industry and Competitors

Are you a student of the insurance business? Do you read everything you can put your hands on that is related to the insurance industry? Do you have an insatiable appetite for everything related to insurance and running your agency? Do you study what the successful agents do?

If you want to excel as an insurance agent or agency owner, you have to be on the lookout for ways to improve. You have to be hungry and search out ways to be different, to improve on what you’re doing and then, be dedicated to integrating them into your agency. It is much easier today than when I started in the business back in 1986! You have many more resources to find information.

If you want to be a student of the Insurance Business and stand out, then at a minimum you should be:

  • Finding out who your competition is.
  • Attending tradeshows and seminars. Or if you’re a captive agent, events your company puts on.
  • Networking with successful agents/agency owners.
  • Studying who your company is competitive with and target those clients.
  • Studying the policy types of your competitors so you can learn what makes your policy different. Pay attention to the limits and exceptions on Home, Auto, and PUP policies if you are a P&C agent, as well as language in Life/Health contracts if that is your business.
  • Researching on the internet.

In business, you’re either growing or you’re not. No one stays the same. You can get better at what you do or you can go backwards and/or stay the same as your average competitors.

The successful agents that grow their businesses are the ones that will do the things their competitors won’t do: Commit to excellence. This type of commitment will help motivate you to continue to learn to be a student of your business.

It all begins and ends with your attitude towards success. Do you want to be a high achiever and make the money you deserve to earn to support yourself and your family? If so, be a student of this wonderful profession you are in: Insurance.

If you’ve never seen or read this statement on Attitude by Charles Swindoll, I encourage you to print off a copy. I have a copy and keep it on my file cabinet next to my desk.


PS – Don’t forget, next week I’m hosting an exclusive interview with successful agent Ryan McClintock on Wednesday, January 29th at 10am PST. In this webinar, we’ll show you the behind the scenes look at how to use internet leads and Velocify’s leads-management system to save time while signing more policies and growing your agency. Click here to register now!

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