BEST PRACTICES FOR TIME MANAGEMENT

Ah, time management—a topic that resonates deeply in the whirlwind world of insurance. In an industry where every tick of the clock can shift the balance of client satisfaction and operational efficiency, mastering this skill isn’t just important; it’s essential. From juggling client needs and policy renewals to navigating the maze of regulatory requirements, insurance professionals are no strangers to a relentless pace. 

Time management in insurance isn’t just about staying on top of your to-do list; it’s about being able to maneuver through a seamless flow of activities that ensures every client interaction is handled with precision and every opportunity is seized. When you can do this with your time management skills, you are not only boosting your own efficiency but enhancing the overall client experience.

Effective time management is also crucial for achieving a balanced professional and personal life. Just as a well-coached team performs better on the field, a well-structured schedule can significantly improve job performance and personal well-being.

By setting clear priorities, leveraging technology, and implementing best practices, insurance professionals can navigate the industry’s demands without sacrificing family time or personal growth. The goal is to work smarter, not harder, ensuring that every minute is maximized for both professional success and personal fulfillment.

Here’s where technology comes in, and let me tell you, we’re not just talking about your run-of-the-mill productivity apps; we’re diving into your tech stack, utilizing the tools at your fingertips and exploring the realm of artificial intelligence (AI) and sophisticated software that’s changing the game.

Imagine AI tools that can automate routine tasks, optimize your schedule, and provide actionable insights with a few clicks. It’s like having a personal assistant who never sleeps, helping you cut through the chaos and focus on what really matters—building strong client relationships and closing those crucial deals.

But let’s be real: Effective time management isn’t a one-size-fits-all deal. It needs to be tailored to the specific demands of your role. Whether you’re an account manager balancing multiple clients, a producer on the hunt for new business, or an executive steering the ship, the strategies that work for one might not work for another.

So, buckle up as we explore how to navigate the time management maze with strategies designed for your unique position in the insurance world. With the right tools and techniques, you’ll transform your approach, making every minute count towards achieving your goals.

From juggling client needs and policy renewals to navigating the maze of regulatory  requirements, insurance professionals are no strangers to a relentless pace.

Account managers

Why did the CSR bring a ladder to work? Because they wanted to take their service to the next level! (Ba-dum ching!)

Account managers have roles that are dynamic, demanding, and often highly stressful. They handle inquiries, solve problems, quote both new business and renewals, maintain a positive customer experience, manage administrative tasks, and collaborate with colleagues. I’m exhausted just typing all of that! The ability to manage time efficiently is essential to balance these responsibilities and deliver exceptional service.

For account managers, time management is akin to walking a tightrope while juggling flaming torches. You’re handling multiple client accounts, processing policy renewals, and managing service requests—all while staying on top of industry regulations. Effective time management in this role is about prioritizing tasks and clients to ensure that every minute contributes to client satisfaction and retention.

Over the last five to 10 years, technology has played a much larger role in this than ever before. Yes, it was beginning to shift long before 2020, but the COVID shutdown fast-forwarded this technology boom in our industry.

Here’s where technology steps up as your sidekick. Agency management systems are more than just digital file cabinets. They help you get a handle on your time and turn that chaos into something a bit more manageable.

First off, let’s talk about streamlining workflows. Management system platforms are like having a supercharged control center for all your client data, policy details, and communication history. Instead of hopping between different apps and hunting down information, everything you need is right there in one spot.

Imagine having instant access to a client’s entire history, past interactions, and policy details without the usual digging. This kind of centralized setup cuts down on time spent on admin tasks and reduces the chances of errors from juggling multiple systems.

But wait, there’s more! Let’s talk about automation—arguably one of the biggest game-changers for time management. Agency management system tools can handle all those repetitive tasks that eat up your day, like sending renewal reminders or following up on pending items.

For instance, your system can automatically shoot out renewal notices and set up reminders, so you don’t have to. This means you can focus on what really matters: building stronger client relationships and tackling tricky issues that require a personal touch.

The emergence of AI and generative AI in our space is another exciting development. Effective communication is key, and AI tools are becoming increasingly valuable as they become more trustworthy. AI can craft emails and messages that hit just the right note—friendly yet professional. With AI, you can analyze client data to tailor communication, making each interaction feel personal and relevant.

Agencies all over the country are using AI to automatically sort, tag, and manage documents, making retrieval a breeze. This leaves you more time to focus on what matters—building those relationships. According to a McKinsey report, automation can increase productivity by 20% to 25% in administrative tasks. That’s huge when it comes to efficiency and time management.

Many management system platforms have AI tools integrated with their already powerful capabilities. They often come with built-in tools for messaging and email integration, which keep everything and everyone in sync.

If a customer service rep is sorting out a policy change, they can easily chat with the account manager or other team members directly within the system. This seamless communication helps avoid delays and keeps the whole team on the same page, making your job a lot easier.

Let’s not forget the power of reporting and analytics. Agency management system platforms generate detailed reports on everything from client interactions to team productivity. These insights are gold when it comes to managing your time better.

By digging into these reports, you can spot trends, measure how you’re doing, and figure out where things might be slipping. For instance, if you notice that certain types of client requests are slowing you down, you can tweak your processes to fix the issue before it becomes a bigger problem.

In the past, I’d always hear people say that the agency management system is used by the service team and customer relationship management (CRM) systems are used by the sales team. However, more and more, that’s not the case. CRM systems for account managers can be game-changing. Imagine having a tool that not only tracks client interactions but also automates follow-up reminders and policy updates.

With CRMs, CSRs can track all client interactions, ensuring follow-ups are timely and relevant. Automated reminders and templates make communication smoother and more efficient. CRMs also allow service teams to share notes, updates, and client history.

 This collaborative approach ensures that no detail is overlooked and that clients receive top-notch service every time. There are so many ways CRM and agency management systems aid in the time management of account managers.

But technology alone isn’t the whole story. Process and procedure play a critical role. Establishing clear communication protocols and scheduling regular check-ins can streamline interactions with clients and team members.

This not only prevents misunderstandings but also ensures that every team member is on the same page. Implementing structured procedures for handling client requests and policy updates ensures nothing falls through the cracks and boosts overall efficiency.

Producers

Just as a well-prepared service team ensures client satisfaction and retention, an efficient sales team drives growth and new business. Both teams play critical roles in the success of “Insurance Town,” but their time management strategies need to be tailored to their unique goals and daily tasks.

For producers, the name of the game is balancing the hunt for new business with managing existing accounts. Time management here is about zeroing in on high-impact sales activities while efficiently handling administrative tasks. The right strategies can turn a whirlwind of activity into a streamlined, productive process.

Time management is the secret sauce that elevates a good salesperson to a great one, especially in the fast-paced insurance industry. It’s all about prioritizing tasks that make a real impact on your sales goals.

Focus on high-impact activities like prospecting, client meetings, and follow-ups. Using various tools can help you manage your day better and keep your finger on the pulse. Producers manage not only tasks but also sales goals and expectations.

Setting specific, measurable goals is another key ingredient. Break down those big, intimidating goals into bite-sized tasks to keep your momentum going. Time blocking is a game-changer; allocate specific slots for different activities to reduce the constant task-switching that can drain your energy.

Identify the key activities that drive your sales success, such as prospecting, client meetings, follow-ups, and administrative tasks. Prioritize these based on their impact on your goals. For example, prospecting might take precedence since filling your pipeline is crucial.

Allocate specific times of the day for different tasks. For instance, block out the first hour of your day for prospecting when your energy is high, and reserve afternoons for follow-ups and meetings. This ensures you tackle high-priority tasks when you’re at your best.

Utilize tools like CRM systems to schedule tasks and set reminders. Automation tools can handle routine follow-ups, allowing you to focus on more strategic activities. Apps like Google Calendar or Microsoft Outlook can help you visualize your time blocks and stay on track.

The hardest thing for many producers is distraction. We all know this—most producers are high-energy, active people, which can lead to a lot of “squirrel” moments. During each time block, minimize distractions to stay focused. Turn off notifications, close unnecessary tabs, and let colleagues know you’re in a focused work period. Consider using white noise machines to maintain concentration.

Consistency is key. Stick to your time blocks as much as possible. Treat them like non-negotiable meetings. Over time, this discipline will become a habit, leading to better time management and higher productivity.

Just as we discussed earlier with account managers, AI is transforming insurance sales, offering a variety of tools and techniques to enhance efficiency, customer experience, and overall sales performance.

Here are some best practices for leveraging AI in insurance sales. Many agencies use lead-scoring models for producers, deploying AI to score and prioritize leads based on their likelihood to convert. Machine learning models can assess various factors such as past interactions, demographics, and online behavior. They also automate follow-up tasks and reminders for leads, ensuring timely and consistent communication.

One of my favorite AI use cases comes from the amount of data we have in our agency. For years, we had this data with no quick or efficient way to analyze it. Well, now we have AI. Producers use AI to analyze vast amounts of market data, competitor activities, and industry trends to inform their sales strategies.

By incorporating these best practices and utilizing the latest technologies, insurance sales teams can boost productivity, improve customer experiences, and drive better sales outcomes.

Agency owners and managers

For agency owners and managers, mastering time management is crucial for balancing client needs, team management, and business growth. Here’s where effective time management can really make a difference in your success.

Use tools like calendars or task management apps to organize client interactions and team projects weeks in advance. Whether you’re running a small team or a large agency, managing time effectively involves maximizing efficiency and accountability.

Agency management systems and CRMs are central to effective time management. These tools help track activities, sales, and workflows. Use them to assign tasks, set reminders, and automate workflows like policy renewals and client follow-ups. Real-time dashboards and reporting help you monitor task status, evaluate productivity, and identify areas for improvement.

Implementing clear workflows and processes is essential for managing your agency’s time. Regular performance reviews, automated workflows, and continuous support and development opportunities keep your team on track. Recognize and reward achievements to boost morale and maintain a motivated team.

With the right tools and techniques, you’ll streamline your operations and drive your agency’s growth.

Conclusion

Mastering time management isn’t just for the higher-ups—it’s crucial for everyone in the agency, from service staff to producers and managers. Think of it like preparing a perfect meal: You need a solid recipe, the right ingredients, and precise timing.

For service staff, it’s about keeping the kitchen running smoothly—organize tasks like ingredients and handle customer requests efficiently. Producers are the head chefs creating the main course—break down projects and set deadlines like timers. Managers are the executive chefs overseeing the whole kitchen—lead by example, set clear goals, and use your tools wisely.

Effective time management is the secret ingredient to success. Cook up a plan, stick to it, and watch your productivity soar to five-star levels!

The author

Heath Shearon is a second-generation insurance professional, creator of the Insurance Town podcast, and sales coach. He built a successful agency before transitioning to the carrier side. Working with hundreds of insurance agencies throughout his career as a marketing representative and consultant, he has a natural ability to network and build relationships. He has parlayed that into a career in consulting with agencies all over the country in the areas of sales strategies, niche marketing, relationship building, cross-selling, customer retention, mergers and acquisitions, developing culture, and brand-building—among other things. Heath is a strong believer of the accountability factor in coaching and enjoys working with agencies both large and small. Over the past two years, he has spent time working on his own brand, Insurance Town, and working with agencies to help them develop their own branding and culture for their businesses. Through accountability and consulting, he has helped agencies grow and achieve their goals, oftentimes exceeding them.