4 Ways to Grow Your Insurance Agency

September 21, 2016
By: Voldico

Getting started is easier than you might think.

Do you want to expand your independent insurance agency? It’s easy to get overwhelmed by the options and the steps that each idea might take to be realized. But by starting small and setting realistic, tangible goals, results shouldn’t be far off.

We’ve done some research and put together a list of 5 things that you can do to grow your insurance agency in a number of different ways, that shouldn’t be too overwhelming or unrealistic, to begin with.

#1 - Start a blog. 

This is one that people tend to talk about a lot, but do little about. “Don’t people think insurance is boring?” you’re probably asking. The answer is two-part: (1) not if it’s written about concisely and (2) not if it provides valuable insight into the coverages that people need. 

Spend just a week writing down the questions that your customers ask about their policies and then identify the recurring questions. Write a blog post that’s only a few hundred words answering one of those questions. 

Do it again the next week, and the week after, and so on. Before long, you’ll have valuable resources for your current and prospective customers, and you’ll also show them that you know your stuff. 

#2 - Utilize social media. 

This one can be daunting because most people don’t know where to start. 

For an insurance agency, Facebook or Twitter are probably good options. Begin there, and try out different platforms when you feel comfortable doing so. Maybe identify a staff member who excels at technology to head up this new venture. 

But what are the benefits of using social media? The opportunities are almost endless: use them for customer reviews, hold a raffle every month to help grow your audience, post your new blog posts, post other helpful articles that you find, and so on. 

Social media sites will help customer retention and to spread the word about your business so that more customers can find you.

#3 - Attend insurance industry events. 

Even if it’s just one or two a year, the opportunity to learn and to network will open up possibilities that probably wouldn’t have been available to you or your agency otherwise. 

When possible, set aside some funds from the budget and get out from behind your desk.

#4 - Join a Market Service Provider. 

The time constraints of owning and operating an insurance agency can make growth consideration difficult, if not impossible. 

Market Services Providers, like Voldico, are set up to provide the benefits of a captive agency, like marketing and operational support, while allowing an agency to work as an independent with multiple carriers. 

In fact, carriers that were not an option before may be a possibility through a Market Service Provider.

A lot of these suggestions may seem like big steps for an agency, but they can be chipped away at over time. The important thing is to develop a plan and get started today.