Complete Insurance System

[Klutch]

I am reading the book E-Myth by Michael Gerber; he talks about the reason most small businesses fail (something like 80%), but how most franchises succeed (~95%), the reason is franchises follow a strict system that dictates each part of the process.

Do you guys have a system you follow when contacting prospects, following up, closing the sale, checking on pending requirements, delivering the policy, asking for referrals, etc ?

 

[marindependent]

If you do not have a follow up system in place in the world of insurance you will fail.

 

[Klutch]

If you do not have a follow up system in place in the world of insurance you will fail.

What's your follow-up system?

 

[DHK]

 

[goillini52]

What's your follow-up system?

I use a recipe box with tabs for each month and each town. If they can't buy now for some reason, I put their card in the month I need to contact them...for instance if they have a MAPD plan, I put them in October's file.

I'm old-fashioned.

 

[DHK]

If it ain't broke...
One Card System

 

[thomasm]

I am reading the book E-Myth by Michael Gerber; he talks about the reason most small businesses fail (something like 80%), but how most franchises succeed (~95%), the reason is franchises follow a strict system that dictates each part of the process.

Do you guys have a system you follow when contacting prospects, following up, closing the sale, checking on pending requirements, delivering the policy, asking for referrals, etc ?

That book is more about setting up your agency to run as if you're not there.

I think that's the true definintion of owning a business.

You create a operations and procedures manual for every process and aspect of your business for your team.

Most on here will never scale thier business to the point will they can walk away, but I think, most can get to the point where they build a team around them, so they are free do focus only on the highest income producing activites, such as selling to qualifed propects!

Delegate everything else!

 

[Klutch]

That book is more about setting up your agency to run as if you're not there.

I think that's the true definintion of owning a business.

You create a operations and procedures manual for every process and aspect of your business for your team.

Most on here will never scale thier business to the point will they can walk away, but I think, most can get to the point where they build a team around them, so they are free do focus only on the highest income producing activites, such as selling to qualifed propects!

Delegate everything else!

Do you have such a system for your agency?

 

[walthamny]

I track each case opened on excel. If I meet a client and they mention they want a 529 plan next march, I will record the case open in October and it will remain open until close. I will also record how many possible referrals possible/or already given from the case. I found it easier to track this way as I had a problem with getting ton of referals and only calling few of them. Now I also like to track how many cases/leads I am opening every month. This is vital for my next 6 months cash inflow.

The most important thing is that the system has to work for you and your style and compliment your weaknesses. The one card system is useless if you dont make the phone calls, and my system is useless if you are not good at generating referals. You have to fine tune whatever system and see which one works for you.

I know agents who only track how many people say no to them when they are cold calling and they seem to be doing fine. If you really think about it, it is much easier to get no then yes on cold calling so their system tracking shows success all the time.

This forum is very useful to fine tune whichever system you end up using. There so many unique ideas.

 

[thomasm]

Do you have such a system for your agency?

Not yet, but working on it!

I'm still heavily involved in prospecting and lead generation activities, which is 90 percent of what I do all day.

The first step will be outsource all that or build a team that focuses 100% on that, so I can just focus on selling.

Once my renewals hit $1000 a week, that's where that money is going!