How to Build a Successful Insurance Business

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Starting an insurance business is hard work, and building a successful insurance business is an ongoing battle. Any good service company starts with existing customers, but in order to create a successful insurance business you need to be able to reach out to new customers as well. It also helps to have a diversified product offering and to represent more than just one company.

Making Your Insurance Business Successful

  • Create a mailer to send out each month to your existing customer base that offers some sort of incentive for your existing customers to refer new customers to you. Gifts such as restaurant gift certificates or theater tickets work well. Only give an incentive if the referred prospect becomes a paying customer.

  • Become involved in local community events and begin networking with people from the area by introducing yourself and your company whenever you can. Always carry business cards wherever you go.

  • Offer free informational seminars to local businesses and private individuals to answer insurance-related questions and offer advice. Also offer to do presentations to local businesses at no charge to help introduce your service to companies and their employees. Be sure to leave plenty of contact literature behind in case people want to call with follow-up questions.

  • Begin networking with local businesses that complement your insurance business. Ask local car dealerships to mention you and your company to people who have just purchased a car and might need insurance. Begin networking with local business owners to introduce your line of commercial insurance and employee health insurance.

  • Contact your existing customer base with new ideas and products that will help to enhance the insurance they already have. People are constantly trying to save money for the future and make sure that their personal finances are in line. By staying in touch with your customers, you give them the feeling that you are the person who has the answers for a secure financial future.

Tips & Warnings

  • Always be ready to discuss your business with anyone at any time. Building a successful insurance agency is a seven-day-a-week job. Let your enthusiasm show to everyone you talk to.

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