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The Future of Insurance Agencies: Remote vs In-Office Work
Weekly Trivia 🤔 Question:
Did you know that home insurers are getting picky about where they offer coverage?
Today In 5 Minutes Or Less (TLDR):
Dear Insurance Agent,
With the landscape of our industry rapidly evolving, the debate between remote work and in-office setups has never been more pertinent. As we stride into 2024 and beyond, how can we adapt to ensure our agencies remain profitable and efficient? Let's dive into some insights and actionable strategies to help you navigate this new era with confidence.
The Case for In-Office Agents
Working in an office has long been the standard. Here's why it still holds value:
Energizing Team Environment
: The vibrancy and excitement of a high-performing team in an office setting are unparalleled. Celebrating wins together, with bells ringing and high-fives all around, boosts morale and fosters a sense of camaraderie.
Controlled Atmosphere
: Having direct control over the office environment allows for the creation of a cohesive and energizing workspace, where everyone feeds off each other’s energy.
The Remote Advantage
However, with the push towards remote work following 2020, we've seen that remote setups can also be highly effective:
Nationwide Talent Pool
: With remote work, you’re not limited to local hires. Expand your search nationally and find top talent who can help your agency grow.
Increased Autonomy
: Employees value autonomy. Allowing them to work from home can lead to greater job satisfaction and even willingness to accept lower pay for the flexibility remote work provides.
Best Practices for Remote Work Success
To make remote work work for your agency, consider these strategies:
Clear Daily Expectations:
Establish and communicate clear daily activities and goals.
Use tools like activity trackers judiciously to ensure productivity without micromanaging.
Data-Driven Performance:
Utilize metrics to track performance: incoming calls, outbound efforts, quotes, and sales targets.
Set these expectations from the beginning and have new hires commit to them.
Regular Communication:
Use platforms like Zoom and Slack to maintain regular contact, celebrate achievements, and keep the team spirit alive even from afar.
Flexible Home Base Options:
Maintain a physical office as an optional space for those who need extra support or thrive in an in-person environment.
Adapting to a Hybrid Model
A hybrid model might provide the best of both worlds:
Test and Adapt
: Start by testing remote work with clear expectations and measurable outcomes.
Flexibility and Accountability
: Allow agents to choose their work environment but ensure they understand their responsibilities and the metrics by which their performance will be measured.
Attract Top Talent
: Market the option of remote work to attract high-caliber agents who value flexibility.
Final Thoughts
Transitioning to remote or hybrid models isn't just about keeping up with trends; it's about future-proofing your agency. By setting clear expectations, using data to drive decisions, and maintaining strong communication, you can build a consistent and profitable agency—no matter where your team is working from.
Taking the time to thoughtfully implement these strategies will help you stay ahead in the evolving landscape of insurance.
Craig Pretzinger and Jason Feltman
The Insurance Dudes! 🚀
If you can be clear on the expectation of daily activity and you monitor just the daily activity, then you don't have to be so worried about what somebody's doing remote. Then you know that every single day, if they do this amount of activity, your agency is going to have success.
Jason Feltman
The Power of Personal Investment: Why Doing Nothing Costs You Everything
If you’re not investing in yourself, you're essentially investing in nothing. Every second of the day, your most significant asset is and always will be, yourself. Jason's point in our last chat sheds light on an often-overlooked aspect of personal and professional growth. We tend to think of investment purely in financial terms, but the reality is, time and effort are investments, too. And if you waste your time, you're actually making an active investment in stagnation.
Jason’s insight hits home: "If you're not doing anything, you're investing in not doing anything. We all know what not doing anything gets you." It's so simple yet profoundly impactful. This concept is about making conscious choices every single day. You have a limited number of hours, and every decision will either take you closer to or further away from your goals.
Consider the daily activities that fill your schedule. Are they pushing you forward or keeping you in place? For instance, scrolling through social media might feel like a harmless time-filler, but over time, those minutes add up. That's an investment in idleness. On the flip side, dedicating time to read industry journals, engaging in meaningful network conversations, or upskilling through courses---these are the actions that yield substantial returns. You’re cultivating knowledge, expanding your network, and staying competitive.
“You may as well invest in something that is proven to work,” Kash added, emphasizing the importance of intention. We've all seen it; successful individuals often follow certain patterns—dedication, continuous learning, and strategic risk-taking. These aren’t mythical traits but proven habits anyone can adopt. The beauty is, these approaches are replicable. Many have done it, and so can you.
You possess the freedom to choose where your time goes. This autonomy is powerful but can also be paralyzing if you allow it to be. The secret lies in taking that first step, making those deliberate choices that align with your aspirations. There's no magic formula to success, but there are methods and pathways that have demonstrably worked for countless others. The real challenge is to take accountability for your choices and actions.
Nobody can make you invest in yourself—it has to come from within. Yet, it's that very personal accountability that can become the bedrock of your success. You hold the reins. It's reassuring to remember that not only is the power to choose in your hands, but the outcomes of those choices can also steer your life in a direction of growth and fulfillment.
So next time you catch yourself idling, think of Jason’s pointed reminder: every second counts. Make those seconds work for you. Invest in yourself wisely and watch the dividends pay off in ways you’ve only imagined.
"To double your net worth, double your self-worth. Because you will never exceed the height of your self-image."
Around The Web 🌎
Instagram 📸
If you can master being your own boss by holding yourself accountable, you’ve already made it.
The YouTube 🎥
In today’s day and age, you need to be working on your online presence. Content is key in keeping you relevant.
This Week On The Podcast 🎧
We'll explore how tracking business origins and leveraging consistent, authentic content on platforms like Instagram, TikTok, and YouTube can amplify your presence and drive high-quality leads. Nicholas shares his success stories and lessons learned at his agency, emphasizing the importance of early investment and creating relatable content beyond insurance. |
Answer To The Weekly Trivia Question:
Recently, Foremost Insurance decided to stop writing new homeowners policies in Minnesota, Georgia, and parts of Colorado. And here's a shocker: from 2020 to 2023, the average homeowner's premium jumped by a whopping 33% to $2,530! But depending on where you live, it could be as high as $5,000 or as low as $800.
We put together a free book and checklist to grow your insurance agency 👉 Here
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