Your Biggest Hurdle?

[NewSummits]

Hi All,

I wanted to begin by saying what a wonderful community this is! I have just discovered this forum however have already spent quite a few hours reading through everyones insights. It's all quite awesome, and wish I would've discovered this all earlier.

A bit of back story. For the past three years I've worked at the wholesale level as a broker assistant. The three years flew by, I learned an immense amount, but have now come to the end of that road. As I have just graduated with my Masters in performance psychology I'm looking to pivot my position within the industry and hopefully begin working along side individuals to help maximize and empower their personal performance. In order to do this however I know I must first "shut up and listen" to what others are experiencing so that I can actually be of help.

That being said, I'm curious to know your insight, what are the largest hurdles to peak performance in the insurance industry?

Have a wonderful week and I hope to be a part of many conversations going forward,

- Trevor,

 

[DHK]

I was going to crucify your post... but I'm going to help you first.

Why don't you post your favorite insight that you've learned in your MBA program? Small or large - post your insight.

I don't care if you post about:

• Imposter Syndrome (Dr. Jack Singer, PhD wrote extensively on this)
• Pattern Interrupt for call reluctance (Dr. Kerry L. Johnson, PhD)
• Motive behind the calls for your call reluctance (Sid Walker)
  
• Disciplines to getting out of your own way (Sandy Schussel)

Or anything else.

If you want to start a conversation, throw something out there, and let us battle it out for you.

I am NOT going to tell you, with your "newly minted MBA" what MY performance issues are you little runt.

You are the one that needs to prove themselves here.

And get ready to be torn apart.

I eat MBA types for breakfast.

Language warning:

 

[NewSummits]

Hi DHK,

Many thanks for the response and my apologies for the slow message back. Too clear any confusion I have not received a MBA. I've received my Masters in Sport Psychology (Performance psychology). My business knowledge is certainly not on an MBA level and I am aware of this.

Regarding my schooling most of the work was done extensively in the realm of sport, not business. It is only due to myself working in the insurance industry the past few years that I had began to see an incredible amount of parallels between the two worlds. Of course my viewpoint is subjective, and this is why I was asking to hear others experiences, but one of the situations I saw was this...

- A massive lack of confidence in younger producers and agents. Whether it be in speaking on the phone, making UW decisions, or while engaging with carriers I observed a large lack of confidence in my peers. (All is the 25-28 range) While I've had discussions with a few, but not all, it seems Bandura's Self efficacy theory would be quite relevant and potentially useful to explore. Self efficacy, or our belief in our individual abilities can be impacted by four major ways.

1) Reflecting and Reviewing past successes and wins.
2) Vicarious experiences or witnessing others perform with confidence
3) Verbal persuasion, or the way we talk to ourself (Self-Talk)
4) Visual Persuasion, or engaging in visualization to imagine the experience first in our mind.

Knowing this, while working with a young agent or broker trainee we could work together to implement one or more of Bandura's suggestions and see how this changes things. If it doesn't maybe it's more effective to look at something such as motivation. A lack of this was observed slightly in my office at times.

In this situation, a sport psychology theory that would be relevant is Self-Determination theory by Deci and Ryan. In this case, the researchers discuss how three factors influence one's motivation...

1) Autonomy - How much freedom do we feel we have?
2) Competence - How well do I believe I know the necessary information?
3) Relatedness - How important is this to me, does it align with my values/what I want?

While obviously these three aspects are quite controlled by upper management, this might also be a great opportunity to build relationships and communication between newer employees and more experienced ones, ultimately helping to work through the stages of group growth. (Forming, Storming, Norming, Adjourning) The whole structure is based out of Cognitive Behavioral theory which ultimately says our Thoughts impact our emotions, which impact our actions and so on. So if we can begin to believe we are more confident, we will then feel more confident, which will ultimately leads to better performance.

This is just one example of something I had seen. I appreciate the feedback again and hope to keep chatting. Lastly, please feel free to lean in and tear me apart, I have ample Elmers and duct tape to patch myself back together.

Thanks

- Trevor

 

[Allen Trent]

I was going to crucify your post... but I'm going to help you first.

Why don't you post your favorite insight that you've learned in your MBA program? Small or large - post your insight.

I don't care if you post about:

• Imposter Syndrome (Dr. Jack Singer, PhD wrote extensively on this)
• Pattern Interrupt for call reluctance (Dr. Kerry L. Johnson, PhD)
• Motive behind the calls for your call reluctance (Sid Walker)
  
• Disciplines to getting out of your own way (Sandy Schussel)

Or anything else.

If you want to start a conversation, throw something out there, and let us battle it out for you.

I am NOT going to tell you, with your "newly minted MBA" what MY performance issues are you little runt.

You are the one that needs to prove themselves here.

And get ready to be torn apart.

I eat MBA types for breakfast.

Language warning:

yikes, did you watch the Presidential debates 24/7 on loop. LOL

 

[DHK]

Too many posts that say they're "doing research" and they want to "help us" without any field experience.

So tired of it.

Applicable experience packaged in a product with a quality message... is all that would attract my attention.

His post above? tl;dr.

 

[Markthebroker]

Too many posts that say they're "doing research" and they want to "help us" without any field experience.

So tired of it.

Applicable experience packaged in a product with a quality message... is all that would attract my attention.

His post above? tl;dr.

This may just be me, but this industry is so difficult and complicated to figure out, and succeed in, when someone wants to jump in and look at it and show us a solution to do it better, it's almost insulting.

 

[Allen Trent]

Too many posts that say they're "doing research" and they want to "help us" without any field experience.

So tired of it.

Applicable experience packaged in a product with a quality message... is all that would attract my attention.

His post above? tl;dr.

Yeah, I know. I just got lured in by his dreamy eyes, his positivity about the community, him not calling us names, talking over us. I guess after watching the debates, decorum, name calling I was going to fall head over heals for anyone not screaming non sense. Just glad I wasnt car or house shopping today or talking to a stock broker as I likely would have pledged all my assets to the sweet talking sales reps

 

[Allen Trent]

it seems Bandura's Self efficacy theory would be quite relevant and potentially useful to explore.

honestly, I think Ricky Bobby & his dad's insurance based theories are more pertinent today for young producers. These 5 quotes will help to be motivated to pursue being the best, being persistent, be confident, overcome fear & call reluctance, celebrating after work hard-play hard by breaking bread with your peers & mentors & mostly to thank your Lord for the blessings in Life:

"if you aint first your last"
"I am the best there is. Plain & Simple. When I wake up, I piss excellence"
"Chip, I am going to come after you like a spider monkey"
"You got to learn how to drive to your insurance appointments with the fear and there aint nothing more frightening than driving with a live Cougar"
"Help me Jesus. Help me Jewish God. Help me Allah. Help me Tom cruise with your witchcraft. Help me Oprah Winfrey"
"we go together like cocaine & waffles"

Amazing that a college bachelors or Masters will set you back $100k-$200k when you can own Talladega nights for $15 or $20 or get it for free in short clips on Youtube

 

[Travis Price]

honestly, I think Ricky Bobby & his dad's insurance based theories are more pertinent today for young producers. These 5 quotes will help to be motivated to pursue being the best, being persistent, be confident, overcome fear & call reluctance, celebrating after work hard-play hard by breaking bread with your peers & mentors & mostly to thank your Lord for the blessings in Life:

"if you aint first your last"
"I am the best there is. Plain & Simple. When I wake up, I piss excellence"
"Chip, I am going to come after you like a spider monkey"
"You got to learn how to drive to your insurance appointments with the fear and there aint nothing more frightening than driving with a live Cougar"
"Help me Jesus. Help me Jewish God. Help me Allah. Help me Tom cruise with your witchcraft. Help me Oprah Winfrey"
"we go together like cocaine & waffles"

Amazing that a college bachelors or Masters will set you back $100k-$200k when you can own Talladega nights for $15 or $20 or get it for free in short clips on Youtube

As someone with a college degree, the biggest thing you learn is to think critically and do objective research.

Other than that, it was good enough to get me a job in state/Federal government. However, as an insurance agent it's a complete waste of resources. You're better off with a library card, Kindle account, and save the money to market and do conferences that you find interesting.

Unless you're in a highly technical field...