Moving from “isolationism” to cooperative consulting
The diverse array of challenges and opportunities faced by independent agencies, regardless of their size
or sector, has led to a heightened demand for knowledge sharing and insights from those who have navigated similar waters.
By Carolyn Smith, APR, TRA
Napoleon Hill’s timeless teachings on success and personal development have left an indelible mark on the minds of business leaders and celebrities alike. Acknowledged by influential figures such as Oprah Winfrey, Tony Robbins, Warren Buffett, Bob Proctor, and Brian Tracy, Hill’s principles from the early 20th century continue to inspire success-driven individuals across various industries.
At the heart of Hill’s philosophy is the concept of the Master Mind, a transformative idea emphasizing the collective strength and synergy generated when individuals collaborate harmoniously toward a common goal. In The Master-Key to Riches, Hill wrote, “Every mind needs friendly contact with other minds, for food of expansion and growth.”
According to Hill, the Master Mind involves the fusion of intellectual and creative energies, forming a collective intelligence greater than the sum of its parts in an environment that nurtures and supports growth. This collaboration requires a shared commitment to mutual success, with each member contributing unique perspectives, skills, and experiences to the group dynamic. Participants come together with open minds, setting aside personal egos and competition to create an atmosphere of collaboration and cooperation.
Relevance in today’s business landscape
In the contemporary world of the insurance and risk management industry, successful agency leaders adhere to a modernized version of Hill’s principles when they:
- Join peer-to-peer networks and build communities that act as a catalyst for innovation, problem-solving, and heightened creativity.
- Extend collaboration beyond their agencies, actively pursuing and fostering strategic partnerships.
- Engage in initiatives to broaden market reach, form alliances with carriers, and nurture relationships with clients to better navigate challenges and capitalize on emerging opportunities.
- Leverage personal and professional growth by tapping into the firsthand experiences of peers in non-competitive locations or markets who can provide valuable insights into the challenges and opportunities encountered.
The dynamics of professional networking have evolved, and organizations are increasingly recognizing the immense value derived from collaborative platforms that facilitate interactions among industry peers. The diverse array of challenges and opportunities faced by independent agencies, regardless of their size or sector, has led to a heightened demand for knowledge sharing and insights from those who have navigated similar waters.
As agency leaders continue to embrace the advantages of peer groups, the collective wisdom and experiences shared within these networks become invaluable assets for individual and organizational growth. The collaborative spirit fostered by these platforms cultivates an environment where professionals can learn from each other’s successes and challenges, gaining practical insights that may not be readily available through traditional channels.
Moreover, the anticipated acceleration in the adoption of peer groups is driven by a fundamental shift in the way professionals approach problem-solving and decision-making, along with an understanding that success is seldom achieved in isolation. The realization that there is inherent strength in collective intelligence, where diverse perspectives converge to address complex issues, propels individuals to seek out and actively participate in professional networks.
Their journeys are marked by intentional decision-making, purposeful steps toward achieving goals, and the cultivation of a supportive peer network that propels them forward.
How to begin
How can you tap into an effective peer network?
Start with your existing business circles of other trusted agency leaders, centers of influence, community leaders, and more—these wield considerable influence over the course of your life, both personally and professionally, and play a pivotal role in shaping your success and overall happiness. The strategic decision of surrounding yourself with trusted peers and colleagues holds significant weight, as it has the potential to impact the trajectory of your professional journey.
As the late Charlie Munger, former vice president of Berkshire Hathaway, said, “The highest form that civilization can reach is a seamless web of deserved trust—not much procedure, just totally reliable people correctly trusting one another.”
Traits that networks seek
- What do you need to do to create and connect with a trusted network?
- Build a visionary team. The strength of your team is a key determinant of success. Recognize that the insurance and risk management industry is as much about people as it is about policies. Invest in and build teams of skilled professionals and leverage cutting-edge technology to streamline processes, enhance customer experiences, and stay ahead of the competition.
Practice surrounding yourself with individuals who share your vision, values, and commitment to excellence. A visionary team fosters creativity, innovation, and a collective drive to achieve common goals. - Nurture relationships. Prioritize building trust, delivering exceptional service, and going the extra mile to meet client needs. Focus on strengthening underwriter relationships and understanding their risk appetites. A satisfied and loyal client base along with strong underwriter relationships not only contributes to business growth but also serves as a testament to your agency’s credibility.
- Establish strategic partnerships. Collaboration extends beyond the walls of the agency. It’s essential to actively pursue and foster strategic partnerships to excel in your roles.
“Adept leaders recognize that collaboration is not confined to the boundaries of their agency,” explains Lissette Delgado, director of operations at JVS Insurance Agency in Miami, Florida.
“Instead, I proactively pursue and nurture strategic partnerships, through collaborating with my colleagues, engaging in initiatives to broaden my market reach through marketing and social media campaigns, and forming alliances with new carriers, and fostering relationships with my clients.” - Embrace innovations from your peers. Given the industry’s technological advancements and current market, it is imperative to learn about and embrace innovation and be willing to explore new ways of doing business with your peers and colleagues. Whether it’s creating digital platforms for customers to access their plans more easily or leveraging drones and videos for risk assessment, innovation is a cornerstone of success.
- Mentor and network. Recognize the importance of continuous learning and growth and actively engage in mentorship programs to share knowledge and gain insights. Realize that establishing connections with individuals who share similar aspirations and drive can result in collaborative endeavors and advancements in your career.
While mentorship programs help you connect and learn from other agency leaders, networking within the industry enables you to stay informed about industry trends, regulatory changes, and emerging opportunities. Consequently, the careful selection of the right professional network is of paramount importance.
Dee Zampella, CEO of EAB Insurance Group in Green Brook, New Jersey, joined the Beyond Insurance Global Network (BIGN) six years ago to grow her agency and to share innovations with like-minded peers. She says, “The best part about the network is that I get a lot of ideas from other agents who have different ways of doing business. So, our Exchanges [conferences] are really a lot of best practices.”
- Participate in peer support groups, industry associations and events. When you actively participate in peer support groups, you can share experiences, exchange insights, seek advice, and learn from each other’s successes and challenges. This strategic move provides opportunities to connect with like-minded professionals, stay updated on industry trends, and establish valuable connections that can open doors to new partnerships and collaborations.
This realization has been evident for numerous professionals who have become members of the local associations, such as the Professional Insurance Agents (PIA) association.
“It isn’t just membership; it’s a lifeline,” says Dana Anaman, vice president of Membership and Affiliate Services at PIA National and managing executive director of PIA of Florida. “In this close-knit community, agents find more than camaraderie—they discover a powerhouse of ideas, an informal mentorship, and a network of agents who want the same thing—to grow and succeed. Together, they navigate challenges and celebrate successes, turning shared experiences into a source of strength and growth.”
Peer groups and industry associations also provide opportunities for professional development, whether through industry-specific courses, leadership programs, or executive education. This continuous learning mindset can keep you adaptable and well-informed in a rapidly changing industry.
Cultivate a supportive network: A propellant for success
The journey to success in the insurance and risk management industry is not without its challenges. The support of a strong network can make all the difference, providing you with guidance, encouragement, and a sense of community.
Ashley Correll, executive director of the BIGN, explains, “In our fast-paced world of fierce competition, staying ahead requires building strong relationships and meaningful connections. Additionally, being around people who share your values can reinforce your beliefs and principles, leading to a more fulfilling life and professional career.”
In the ever-evolving landscape of the insurance and risk management industry, success is not guaranteed, but it can be achieved through a combination of strategic focus, intentional decision-making, and collaborative efforts.
Agency leaders who rise to the top are those who set clear goals, adapt to market trends, and invest in talent and technology. They align themselves with individuals who share their vision, make intentional decisions that prioritize long-term success, and cultivate a network of support that propels them forward. They draw inspiration from peers within their networks, understanding that success is not a destination, but a journey marked by continuous learning, adaptability, and a commitment to excellence.
The author
Carolyn Smith is the director of Marketing and Innovation for Beyond Insurance and a performance coach for the Quest for Success and Reach Your Peak six-month coaching, mentoring, and performance-enhancement programs. Beyond Insurance is the premier coaching and training organization for insurance agents, brokers, and carriers who desire a consultative, diagnostic customer engagement process.
