New Study of Smart Choice Independent Insurance Agents Reveals Real World Methods Applied to Achieve Breakthrough Success
GREENSBORO, N.C.--(BUSINESS WIRE)--Jul 7, 2021--
A new study of independent agents reveals real-world methods applied to achieve breakthrough success. The whitepaper details surprising statistics on success measures including close ratios based on national interviews conducted with agents. Independent agents were surveyed and interviewed with the goal of understanding the hurdles they face, the partnerships they have engaged, and how these strategies have affected their businesses. The research explores the options they chose to overcome income and growth barriers while remaining independent.
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Whitepaper Cover image (Photo: Business Wire)
“The Independent Agency system is one of the most promising career paths in the risk and insurance field. For a motivated individual, the sky is the limit on earning potential,” said Dr. Brenda Wells CPCU, AAI, CRIS and Professor at East Carolina University’s Risk Management and Insurance program. “Yet, being independent doesn’t mean going it alone. There are partnership and network opportunities that can help agents break through barriers imposed on independents and get them the access they need to top-rated and specialty carriers that their customers are demanding.”
The agents that were included in the research have a partnership with Smart Choice Agents Network. The services and tools they have selected vary, but all utilize at least the basic network offerings to gain access to quality insurance markets, agency business tools, training, and support. They were asked about their experiences before and after they formed that partnership.
Close to 80% of the participants in the study were former captive agents and almost all of them transitioned directly from a dedicated agent role to an independent that is partnered with a network. There is a common understanding in the industry that the greatest challenge for unaffiliated independent agents is getting access to top-rated markets. Former captive agents are typically also seeking new methodologies for supporting their clients – one that often has greater flexibility.
“Like so many others, I worked in the captive agency world before going independent. When I opened my own agency, I did not want to go-it-alone,” said Michelle Lunsford of Michelle Lunsford Insurance. “Partnering with Smart Choice gave me access to all the markets that my clients needed plus I saw my former close ratio of 15-20% blossom into a close ratio of 75-80% now that I am with Smart Choice.”
To review the whitepaper, click HERE.
The Smart Choice® Agents Program is a wholly owned program of Worldwide Insurance Network, Inc. (WIN), headquartered in High Point, North Carolina. They currently serve 8,600 agency partners in 45 states. For more information, visit www.smartchoiceagents.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210707005012/en/
Katie Wilmoth, Smart Choice | 336.217.4650 x3042 |firstname.lastname@example.org
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA
INDUSTRY KEYWORD: TECHNOLOGY NETWORKS PROFESSIONAL SERVICES INSURANCE
SOURCE: Smart Choice Agents
Copyright Business Wire 2021.
PUB: 07/07/2021 11:30 AM/DISC: 07/07/2021 11:31 AM