How has coming from the financial world helped you run a successful insurance agency?
Tremendously, understanding numbers is a huge part of the business from a high level standpoint. And having a background in financial planning and accounting to a lesser degree has helped me run our agency.
What is the biggest change you have seen in the agency distribution channel?
I have seen more and more Aggregators being created to help maximize profits and put pressure on carriers to give agents more both financially and from a technological standpoint
How has increased social media activity impacted your business?
I believe it’s the new format of “headlines” in a newspaper and if you aren’t doing it on a regular basis, you are missing out. It can be hard to measure but having a simple presence on social media will generate you more business opportunities
It seems nowadays consumers research hundreds on insurance options online and still end up coming to an agency. How can insurance agencies better market themselves in such a competitive environment?
With short and sweet messages on how they can better help others with their initiatives. For example, you can’t just ask a realtor to send you over business. You need to ask them, how you can help grow their business. Whether you help increase their social media presence, do some co-marketing, etc.
If you weren’t an agency owner, what would you be doing?
Something entrepreneurial, I would find another business to own. Once you understand the numbers of any business, you can implement strategies to be successful.