THE FIVE PILLARS OF YOUNG AGENT SUCCESS

Building your foundation for long-term success

By Mitch Gibson

Just as in the building of a house, when the structure requires a solid base for it to last, establishing a strong foundation is imperative for long-term success as a trusted independent insurance agent.

As a guest on an episode of my podcast, The MVP (Most Valuable Producer) Podcast, Glovebox’s Co-founder Andy Mathisen perfectly said, “Your own journey will help you establish your own grounds and creating your own pillars will set you up well for the longevity of your career. And it’s because everyone’s got a different market, everyone’s got a different style of agency, the way they operate. If you bring in a little bit of everyone’s expertise, build your own concepts and make it into your own secret sauce, I think you’re really establishing your own pillars.”

In 2018, when I started working at HRM Insurance Services in New Palestine, Indiana, I was told by my boss to give this career three to four years before deciding if being an insurance agent was the right long-term choice. At the time, it didn’t make sense to me why it would take so long before I knew if I liked being an agent or not. I decided to trust the process and after the fourth year, it all started making sense.

What do you think was happening in the background during what seemed to be the longest three years of my life? Without even knowing it, I was building my foundation and establishing my own pillars for success—and so can you.

Brett Young, CEO of Erb & Young, a P-C agency based in Orlando, Florida, who joined Mathisen on the December 2022 podcast episode, said “If you can show up the right way for a long enough period of time with a good attitude, you beat the majority of people, because people just have a hard time with consistency and showing up.”

It is simple: Do you want to win? Then you need to embrace the fact that the game of insurance is won by those who play the long game.

Embarking on a career as a young insurance agent or as a new agent to the industry can be an exhilarating journey filled with endless opportunities and potential for growth. However, it is crucial to recognize the significance of laying a strong foundation within the first three years of your career.

Despite the challenges and

uncertainties you may face, it’s important to

realize that the initial years are when you are building

the groundwork for your future achievements.

There are five pillars that have been crucial to the success I’ve had so far, early on in my journey as a producer.

1. Your processes. These are important for your long-term success in your career. You need to make sure you are clearly defining your processes, from prospecting to claims management; doing so ensures consistency and minimizes errors. Tapping into available resources and continuously educating yourself allows you to stay informed about industry best practices and market conditions. Handling business with professionalism and efficiency, including prompt client response and clear communication, is essential for delivering exceptional service.
   Automation plays a significant role in increasing efficiency with my processes at our agency. By mastering your processes, you will be able to continually improve and adapt, setting yourself up for long-term success in your career.
2. Your growth/education. Simply obtaining a license is not enough education to win the long game in this industry; in fact, it is just the beginning. Continuous learning is crucial, especially in areas such as the industry as a whole, your state’s regulations, compliance, and staying up to date with changes.
   Understanding carrier products, services, and appetites is essential for effectively advising clients. Being aware of innovation, emerging technologies, and digital tools will allow you as the agent to stay competitive in a rapidly evolving industry. Additionally, staying informed about agency guidelines and market conditions will give you the ability to make informed decisions and provide tailored solutions to your clients.
   You must educate yourself on the evolving technology that is changing daily. If you aren’t adapting to technology in this industry, you will not win the long game. If you aren’t an agency owner and there is a specific piece of technology that you think would be beneficial to your process, I would highly suggest putting together a plan to present to the principal, owner, or your boss, outlining and explaining how this technology is going to generate revenue for the agency.
   Take continuing education classes seriously. I know they can be long and boring, but that just tells me that maybe you selected the wrong CE course. You can never know enough in this industry.
   Goal setting also has a huge role in this pillar. By setting both short-term and long-term goals, you can establish a clear vision of what you want to achieve. Regularly analyzing your activities and progress ensures that you stay aligned with your goals; make any necessary adjustments along the way. With a well-defined plan in place, you can be confident in your ability to strive toward your objectives and ultimately realize your ambitions in the insurance industry.
3. Your branding and marketing. Your brand is more than just a logo with your brand colors and wording. Without a strong focus on branding, it becomes challenging for you to drive new business growth and sustain a quality book of business long term. Lead generation is a critical component, and your relationships play a significant role in this aspect. Cultivating relationships with centers of influence such as referral partners, mortgage brokers, and real estate brokers/agents can generate valuable leads. When I started building relationships with these centers of influence, my business took off!
   To effectively target your market, build your brand around their specific needs and pain points. Get creative in showcasing your brand through avenues like starting a local podcast, writing blogs, or hosting a cocktail hour at a mortgage office. By addressing the pain points of your target audience and providing value-added services, you can differentiate yourself and elevate your brand above the other competition in your niche.
   For example, if you are going to be writing personal lines, first shift your focus to finding the pain points that mortgage brokers and real estate brokers face during the home-buying process. Next, create a strategic brand and marketing plan that will target mortgage and real estate brokers within a 50-mile radius who are experiencing those discovered pain points and figure out how you can help mitigate those pain points for them. If the mortgage broker hates waiting for evidence of insurance and/or an initial quote, create a process that allows you to get a quote back in less than three hours. The quicker you get a quote, policy, invoice or evidence of insurance, the more loans that mortgage broker can put on the books.
   Presenting yourself professionally, building relationships, and providing value-added services are key aspects of effective branding. Remember, adding value to your clients’ lives is what sets you apart and ensures that you will thrive in the insurance industry.
4. This holds tremendous power in shaping your journey as an insurance agent. I firmly believe that the people I surround myself with have a profound impact on my growth and success. To become the best, understand the importance of learning from the best. This realization prompted me to reach out to Bradley Flowers, founder of Mobile, Alabama-based Portal Insurance, for advice on marketing in 2020. Little did I expect that he would respond, but his willingness to help changed everything for me. In just a 15-minute conversation, my perspective shifted, and I discovered the true wonders of our industry. That single conversation with Bradley opened doors I never anticipated. A few months later, I had the incredible opportunity to be a guest on The Agency Intelligence Podcast hosted by Jason Cass, co-founder of Agency Intelligence. This experience, which stemmed from seeking guidance, transformed my professional and personal life. Not only did I gain a mentor in Jason, but I also found a lifelong friend who continues to hold me accountable. This journey taught me a valuable lesson—stepping out of my comfort zone and simply asking for help yielded remarkable results. It’s important to recognize that starting a career doesn’t mean having all the answers from day one. Even seasoned agency owners face uncertainties, but that’s what makes the path so thrilling and rewarding.
   To foster growth, I encourage everyone to find an accountable partner outside their office—someone who will push them to reach their fullest potential as insurance professionals. This individual will not only support and guide you but also provide honest feedback, even if it’s not always what you want to hear. This commitment to growth is where true transformation lies.
5. Your community. It’s not only a backdrop but a fertile ground to start the early stages of building the foundation of your career as an agent. It serves as a platform for building relationships, earning trust, expanding professional networks, and staying in tune with the local market dynamics. As an independent insurance agent, I recognize the importance of community involvement and its impact on my role as a trusted advisor and valuable contributor to the communities I serve.
   I firmly believe that if you fail to give back to your community, you are in the wrong profession. Every single day this job gives you opportunities to make meaningful differences in your community, and it is up to you to seize them. Actively seek out chances to volunteer, knowing that your contributions can have a lasting impact on the lives of those around you. By engaging with and serving the community, you not only fulfill a sense of responsibility but also create a strong foundation for your career and loved ones.
   By embracing this pillar of our profession, you position yourself as more than just an insurance agent. You become a beacon of trust, a source of knowledge, and a catalyst for positive change within the community. It is through these connections and genuine contributions that you can truly make a difference and leave a legacy in the lives of those you serve. Giving back is more than a financial contribution.

In conclusion, as a young independent insurance agent, you want to emphasize the significance of establishing a strong foundation in the early years of your career. Despite the challenges and uncertainties you may face, it’s important to realize that the initial years are when you are building the groundwork for your future achievements.

By focusing on these pillars, you will establish a solid foundation and position yourself for long-term success in the insurance industry. Embrace the challenges, trust the process, and remain committed to your growth. Your journey has just begun, and with dedication and perseverance, you have the potential to become a respected and influential figure in the field. Embrace the opportunities that come your way, learn from your experiences, and make the most of every moment as you embark on this exciting career path.

Remember: Playing the long game is the key to winning in this industry. It requires consistency, perseverance, and a positive attitude to differentiate yourself from others. Always remember that you can make a difference.

The author

Mitch Gibson is a risk advisor at HRM Insurance Services in New Palestine, Indiana. He hosts The MVP Podcast, part of the Agency Intelligence Podcast Network.