Don’t overlook an insurance consultant to boost your agency’s revenue. Insurance agents, brokers and financial advisors need entrepreneurial skills to succeed. There are many ways to increase your revenue through diversification, and insurance consultants have the specific skills to help.

So, in this article, we examine:

  • What is Insurance Consulting?
  • Why should insurance agents/ brokers become an Insurance Consultant?
  • What are the benefits of paying for Insurance Consulting?
  • How our Insurance Consulting can help you achieve results.

What is Insurance Consulting?

For insurance agents, brokers and financial advisors who want to learn the skills to become equipped for success, an insurance consultant helps:

  • Analyze Risks: The consultant reviews the client firm’s complete facilities and operations. Then they identify and detect any specific exposures to any loss, catastrophic or minor. They determine which exposures need insurance coverage and make sure to include all entities in the program.
  • Loss Control: Insurance consultants help clients with their loss prevention processes and compliance with insurer loss-control recommendations.
  • Claims Review: Consultants regularly conduct reviews, every three to six months, of any client and insurer claims. Then they stay involved in the decision-making process to set reserves and make claim settlements.
  • Broker, Agent and Financial Advisor Selections: Insurance consultants determine the level of expertise of the client’s agent, broker, or financial advisor. And then, they conduct personal interviews to assist with due diligence.
  • Workers’ Compensation Packages: Consultants conduct experience modification analyses annually.
  • RFPs: They develop Request for Proposals and then review all the insurance bids. They compare the specifications on coverage and determine successful competitive pricing.
  • Insurance Carriers: Consultants can determine if insurance carriers will be admitted or non-admitted, and then review the ratings and their financial strength.

Why should insurance agents/ brokers look for Insurance Consulting training?

The need for insurance consulting increases every year, especially for small and midsized clients. The new risk exposures to cyber loss and other unrecognized perils create real threats to businesses.

Leading insurance agents, brokers, and financial advisors know great products are only a starting point. You need a great product lineup, but that’s not sufficient. Today, clients expect extraordinary customer experiences, and you must deliver to succeed.

We provide you with the expertise and the tools to determine what is critical for your clients. And we help you equip your team as they deliver those delightful client experiences. All the while, we simplify processes and eliminate costs. These efforts yield happier clients, engaged employees and higher profits.

What are the benefits of paying for Insurance Consulting?

A proven track record for increased efficiency and successful achievement requires a variety of customizable, unique solutions. Every insurance consultant must meet the ever-changing needs of their clients.

So, maybe your agency lacks a niche because your focus is general. More focus on one service may find more success. Sometimes a hidden marketing issue prevents an agency from gaining regular, ongoing exposure to get qualified leads.

Generally, we help with agency issues concerning staff development, team building, administration, workflow, account management, divestiture, and strategic planning. You develop a defined action plan to correct the issues undermining your success and get significant support along the way.

When you bring in a third party to examine and inspect your internal business workings, it may seem awkward or strange at first. Soon enough, you’ll capture your primary goal because you learn what you need to know, and nobody just tells you what you want to hear.

Identify if too much emphasis and focus are in one business area, causing severe imbalances that waste your time and money. Every insurance agent broker and financial advisor is different, so you develop a personalized action plan. Insurance Consulting and coaching implement the best methods for your specific unique situation.

How our Insurance Consulting firm can help you achieve results.

Our team of insurance consultants is a group of insurance industry leaders known for paving the way for agencies across the nation.  Highly innovative, these out-of-the-box thinkers prize collaborative systems to develop strategic, practical approaches.

During our current digital revolution, insurance agents, brokers and financial advisors must become more agile and customer centric. We help you develop and implement custom strategies to increase efficiency, profitability, digital capabilities, customer loyalty. All to gain a competitive advantage.

We offer a range of expertise to adapt to the changing market, so you boost your business in the short-term and position yourself for long-term success.

  • Business Strategy
  • Customer Strategy
  • Advanced Analytics
  • Organization
  • Operations
  • Technology
  • Compliance

You achieve exceptional results with increased productivity in each business area. We continually develop groundbreaking insurance consulting solutions. It is these exceptional insurance consulting solutions that have earned us our national reputation as a highly sought-after consultancy firm.

We work directly alongside you to tackle the toughest challenge. You finally have a real partner helping you and guiding you toward your goals.

You can achieve sustainable, ongoing, organic growth. Our approach checks every element of your client experience to deliver optimal interactions.

Starting with breakthrough research, we offer insights, so you can realize your full sales potential.

We don’t stop at helping you develop a successful strategy. Our team helps you execute every detail. So, we provide the tools, benchmarks, and diagnostics to transform your efficiency and profitability.

Summary

As an insurance agent, broker, or financial advisor, you are probably well-aware of the numerous responsibilities, obstacles and skillsets that come along with that task.

Challenges in your administration, accounting, employment, lead generation, risk assessment, and generally running your business feel insurmountable sometimes. You may even lay awake at nighttime knowing you work hard, but your business does not produce the profits it is capable of. Then that’s the time to call in a third party for insurance consulting to offer you some professional advice.

We have significant industry experience in insurance coaching and consulting, so we will happily provide you with a consultant to help you increase your success. So, call today for more information and a clear idea for the benefits of insurance consulting for your agency.