The 21st Century Agent
December 15th, 2008 by Jeb Foster
Note: this post’s headline refers to the time period known as the 21st century (lower case ‘C’), as in the century that came after the 20th.
A lot has changed in insurance sales, and that begs the question: What are the essential attributes of a successful agent in the 21st century?
Persistence
Persistence has always been a requirement in sales, but it may be more important than ever. Why? Because the general populace is busier and more distracted than ever. The added challenge is that persistence is now predicated on first getting permission—interruption tactics no longer work. (Read more on permission vs. interruption marketing.)
Proficiency with technology
The information revolution fundamentally and irrevocably changed the insurance industry:
Technology has greatly affected the insurance business, making it much more efficient and giving the agent the ability to take on more clients. Agents’ computers are now linked directly to insurance carriers via the Internet, making the tasks of obtaining price quotes and processing applications and service requests faster and easier. Computers also allow agents to be better informed about new products that the insurance carriers may be offering.
Those agents who are limber enough to adapt to an ever-changing technological environment will be greatly rewarded. In short, sales success these days is less about being a good schmoozer and more about being a good techie.
Ability to specialize in multiple areas
More and more, agents sell a panoply of insurance and financial products, from auto and homeowner’s policies to mutual funds and mortgage loans. This enlarged job description places a heavy cognitive load on today’s agent and requires a mind that can retain a great deal of information AND dispense it in a way that is clear to the layman. The agents that can do these things effectively will have greater success in cross-selling, which has become increasingly important.
Reasonable expectations
Let’s look at this attribute from the perspective of online leads. While the use of internet leads isn’t particularly new—InsureMe came online in 1995—many agents are only now getting on the bandwagon, often at the behest of the people at corporate, who realize that their agents must go where the people are going—online, to get free quotes.
Selling internet leads requires an additional layer or two of persistence mixed with a set of reasonable expectations. This is a balancing act. If you treat your online leads like expendable commodities, they’ll respond poorly and you’ll be left with a lousy closing ratio. On the flip side, if you make a point to convert every prospect into a sale, you’ll burn out and get discouraged in short order. Selling online leads is a numbers game that requires tenacity, technological savvy and a systems-based approach that also has human touch.
