Meeting The Expectations Of Today's Agent

Attention should be paid not only to corporate branding, but also to branding at the agency and individual level. Lets face it, todays agent is so much more than an account representativehe or she is a one-person business/professional office with a unique identity.

Marketing programs capable of putting agents in front of as many qualified prospects as possible–on a favorable and ongoing basis–are essential to success in todays marketplace. Such programs should encompass a variety of selling strategies, from face-to-face to seminar selling, and they should extend to both the qualified and non-qualified marketplaces. Naturally, it goes without saying that they should also generate both leads and referrals.

Next on an agents list of expectations should be compensationof course, in terms of commissions and renewals–but also in terms of bonuses, incentives, co-ops, expense reimbursement, benefits (which may or may not include life and health coverage), pension programs, and 401(k) plans.

In short, the company should offer a total benefits and compensation package based on performance and include such areas as placement and persistency. Agents should expect their total compensation package to be competitive, consistent, equitable and fair.

Another important–some might say vital–area that agents need to consider is the level of support services the company offers. What kind of administrative support is available? What kind of training? Does it offerand track–continuing education credits? Is its technology current? What happens when you call the home office? Are you sent into a maze of voicemail and messages, or does a real person pick up and offer their assistance?

While these questions may seem far removed from the prospecting, marketing and sales process, they really arent. In fact, seasoned agents will tell you that quick, responsive Home Office support, be it help with illustrations or simple recognition for a job well done, is critical to success.

Along those same lines, what kind of support does the company offer at the agency level? Being part of a companys field office can make a lot of sense, both economically and in terms of keeping abreast of programs in the industry, the economy, and the home office. A solid, supportive agency offers agents the best of both worldsbeing in business for themselves, but not by themselves.

Another important question agents need to answer before signing on with a company is what kind of contracts it offers? With everything agents are asked to be these days, it shouldnt be a stretch to think that a company should be able to accommodate any one of the various methods agents have of organizing their business. In other words, the contract an agent signs should be based on his situation, not the companys. Look for a company that offers vested contracts, both corporate and individual, including full-time, part-time, or a combination of both.

Finally, look at the company itself. Does it know what it wants to be when it grows up? Many companies re-invent themselves year after year to accommodate the latest market trends, only to find themselves adrift when the winds of the marketplace change.

Look for a company with vision and directionone that not only knows where it is and who it serves, but where it is going. Then ask yourself: Is it agent oriented and committed to helping its associates meet their needs and objectives? Is it a good listener and communicator? Is it financially strong and well positioned to meet the needs of the markets in which it is operating? What about diversity? Does it offer life insurance, a full service broker/dealer, trust services, money management, a strong pension and retirement planning area, as well as highly trained advanced sales professionals? Is it progressive and aggressive, yet conservative when it comes to managing its clients assets? And equally important, is it licensed to do business in mostif not allof the 50 states? If not, why not?

Over the coming years, agents will be asked to bring ever more skills, licenses, and designations to the table. At the very least, they should expect the sameif not more

from the companies with which they do business.

is second vice president of agency development at National Life Insurance Company, from their regional office in Orlando, Fla. He may be reached via e-mail at [email protected].

Reproduced from National Underwriter Life & Health/Financial Services Edition, January 7, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

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