The 6 Leading Causes Of Failure For Insurance Agents In 2020

The 6 Leading Causes Of Failure For Insurance Agents In 2020

As we approach the new year, it becomes more and more apparent that literally every industry is seeing new advancements that reach beyond the norm, and stretch the status quo.

Some industries are seeing technological advancements that are changing every facet of how they do business, while others are getting back to the basics and working toward a more personal customer experience.

Figuring out what works as we move forward is a game of anyone’s guess, but it’s easy to see what hasn’t worked in the past and what to avoid so you can give yourself the best possible chance at success.

If you can dodge the most common pitfalls that cause insurance agents to fail, your chances of success increase ten fold!

Here, we’ll take a look at the 6 leading causes of failure for insurance agents, and how you can make sure you’re not making any of these common and costly mistakes.

1. The Failure To Take Action

This applies to any industry, not just insurance agents. If you’re not willing to put in the work and do the things you need to do to succeed, failure will be the first thing you encounter.

The first rule to ensure you take any endeavor to it’s highest potential, is to take action and get things done! Plain and simple.

Too many people think they can take ten minutes to set something up and it will turn into a cash printing machine, but it just doesn’t work that way…

There are plenty of things that can be automated or done by a virtual assistant but as an insurance agent you still have a responsibility to serve your clients and being willing to do whatever it takes is an absolute must for success in any industry!

Rule: Never fail to take action when necessary!

2. Failure To Follow The Trends

Obviously taking action is huge, but you also want to make sure you’re putting your best foot forward and heading in the right direction.

Often times, the savvy insurance agent will use what they think to be a tried and true method, but tried and true ten years ago just won’t work at this day in age.

In the wake if emerging technology, even the best tactics of the past are becoming less and less effective, and making sure to ride the wave of new trends as they come and go with a sink or swim mentality can be the difference between thriving and dying.

Staying ahead of the trends with Lava Automation’s unique tools and stellar virtual assistants will put you ahead of your competitors and keep you and your insurance agency on the forefront of the industry.

Rule: Always pay attention to what’s working today, and work to use trends to your advantage.

3. Failure To Take Advantage Of Your Network

Often times, our peers can open us up to a immense world of new opportunity, but so many insurance agents fail to take full advantage of their network.

It becomes much easier to stay ahead of the trends when you utilize the people in your network, even if they’re in a completely different industry. Simple principals that work are usually universal to any business and can easily be tailored to fit your insurance agency’s needs.

Building and utilizing your network can lead to many more new opportunities and advantages other than just new clients as long as you have your eyes and your mind open to new possibilities.

Rule: Always take advantage of the opportunities you have with the people around you.

4. Failure To Seek Proper Training

This isn’t just an issue with new insurance agents, it’s also the downfall of many seasoned vets who end up hung out to dry because they failed to learn the new systems that are working.

Some things may seem easy, and with the proper training and the right help they are, but even the easy stuff requires the right training so you can avoid the simple yet costly mistakes made by countless other insurance agents.

Learning to do things right, whether you’re just starting, or you’re well established and just riding the wave of new trends, is incredibly important to build a solid fountain for success.

Obviously you want to look for high quality products and services, but high quality training like that offered at Lava Automation will give you a much needed edge when it comes to getting the most out of your business, and Lava Automation also offers some of the best trained virtual assistants available today!

Rule: Always get the proper training so you’re not guessing what to do.

5. Failure To Use Effective Marketing

For some reason, people don’t seem to like the idea of “salesmen” or “marketers” and they don’t like to think of what they do as selling or marketing.

This has lead countless insurance agents down the road to failure because they weren’t willing to use effective marketing to get the word out to their potential customers. Marketing and selling are necessary and fundamental for any business, regardless of other circumstances, and if you truly believe your products and services will help someone, you should be doing everything in your power to sell it to them!

You should absolutely be working to maximize your reach and accommodate as many clients as possible, which means taking advantage of all the modern day marketing tools at your disposal, and working to streamline your processes to maximize your output.

Lava Automation’s tools and virtual assistants can be a big help when it comes to effectively marketing your insurance agency and getting the most out of your business.

Rule: Never fear marketing! Fear never reaching the people who need your help.

6. Failure To Learn From Your Mistakes

Last but definitely not least, is one of the most obvious mistakes, but it’s surprisingly more common than you may think!

It’s incredibly easy to try things that might not work, and you should be experimenting to find what works best for you and your insurance agency, but if something isn’t working you have to figure out what’s wrong and correct the problem as quickly as possible.

You should always be on the lookout for what you can improve and constantly strive to do better. There’s no problem with making mistakes, but you’ll definitely have problems if you fail to learn from those mistakes.

Rule: Never make the same mistake twice!

Come take a look at lavaautomation.com to see how we can help you avoid these common pitfalls, and learn how our automation tools and virtual assistants can revolutionize your business just like they have for countless other insurance agents around the country.

Find your personal solution today!

Leave a Reply

Close Menu