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7 New Year’s Resolutions to make you a better Insurance Broker
By Eddie Vukovic – Digital Communications Manager – The Institute
It’s a new year –and with a new year, comes New Year’s resolutions. Most of us make plans to be healthier, drink less or read more but what about on a professional level? How many of us make professional New Year’s resolutions?
As you reflect on your results for 2014, using the beginning of a new year is a great excuse to make some professional resolutions.
Here are 7 New Year’s Resolutions you can use to make yourself a better broker:
1 Practice Your Sales Conversations
As experienced brokers you probably don’t think it is necessary to practice your sales conversations in front of the mirror or in a role-playing situation, right? Well, not according to John F Carroll – CEO of Insurance Splash.
He says that unless you’ve closed 100% of your sales, a great way to improve your technique is to go over the conversations where you didn’t get the sale and try different talk-paths that could have led to a successful sale. While you won’t get that sale back, the next time that objection, attitude, or conversation comes back around you’ll be equipped (and practiced) to handle it.
2 Use Social Media
This doesn’t mean posting more selfies on Instagram or making sports related status updates on Facebook. The world of social media can be a noisy one and sometimes it’s actually better if you post less but generate more engagement with your clients and potential clients.
Be creative, conversational and at times, controversial. Ask questions of people and find out what it is they need from a broker and be there to answer their questions. Remember, the social media environment is a replication of the real environment. Good feedback can go a long, long way.
3 Interact With Every Customer
There’s a saying that the best client is the one we never hear from… until the cancellation notice shows up. Try to call all of your clients, not just the ones that can be problematic. Come up with a process that involves reaching out to each of them throughout the entire year. Tie it to policy renewals, birthdays, or policy anniversary dates. Sure, it can be time consuming and requires additional effort but it also keeps them more informed and shows the value that only you can provide them.
4 Stop Delaying the Call-back
How often do you find you’ve reached the end of the day and have two or three calls to return? While it’s always easier deal with it in the next day, it may actually be better for your broker /client relationship to commit to answering those queries the same day – it’ll save you the frustration of doing it in the morning and will go a long way to keeping your clients feel valued.
5 Attend More Networking Events
Online social networking is big, a look at the LinkedIn membership numbers can quantify that, but it will never replace offline social networking in the insurance world.
While attending an event can eat into your day or night life, an industry breakfast or lunch, is a great way to rub shoulders with other people in the industry.
Volunteering for a charity or participating in other community events are also ways you can network with other local business owners and community members.
6 Talk Less, Listen More
As a broker you’re in the business of selling— and many sales gurus swear that by listening, rather than talking, means you’ll almost always have the opportunity to sell more, or provide better customer service because you’re focused on what the client truly needs rather than just trying to sell your product.
7 Get Some Online Reviews
What do you do when you’re looking to buy a major appliance? Do you believe everything the salesperson is telling you or do you put your faith in peer reviews from sites like productreview.com.? Most people put more stock in a peer review than an industry professional, so take advantage of it.
There are myriad business /service review sites around and websites like Google and Yelp are also getting much better at spotting fake ones—so you’re going to have to get real customers to write them for you. If you provide a valuable service, most people will be happy to provide for you.
HAPPY NEW YEAR 2015!
From all of us at ILScorp, we wish you a happy, healthy and prosperous 2015! Thank you for your support over the past year, and we look forward to working with you in 2015.
The ILScorp offices will be closed today and will re-open on Friday, Jan. 2 at 8 a.m. PST.
Happy New Year!
We Wish You And Yours A Peaceful Holiday Season
To our Customers, Business Associates, and Friends: All of us at ILScorp wish you peace and happiness this Holiday Season.
Our thoughts turn gratefully to those who have made our progress possible, and in the spirit we say, simply but sincerely… Thank YOU and may your New Year be pleasant and prosperous!
The ILScorp offices will close at Noon (PST) on Wednesday, Dec. 24 and will re-open on Monday, Dec. 29 at 8 a.m. PST.
We hope that you can enjoy the holidays with loved ones, wherever you are celebrating!
Happy Holidays!
Read moreIt’s Party Time!
Does professional financial planning really make a difference?
Source: Financial Planning Standards Council – www.fpsc.ca
Research shows that Canadians with financial plans feel they are saving more, living well, and experiencing higher levels of overall contentment in their lives. The Value of Financial Planning, a three-year longitudinal study which included close to 15,000 Canadians, was commissioned by FPSC® and the Financial Planning Foundation.
The study revealed that, regardless of net worth, Canadians who engage in comprehensive financial planning report significantly higher levels of financial and emotional well-being than those who do no planning or only limited planning. Those with comprehensive plans felt more on track with their financial goals and retirement plans, felt they had improved their ability to save in the past five years, felt more confident that they could deal with financial challenges in life and felt better able to indulge in their discretionary spending goals.
How does financial planning work?
Financial planning is a process that sets you on a course toward achievement of your life goals through the proper management of your financial affairs. Financial planning is more than budgeting and cutting back. The right financial plan balances what you need and want today with the personal goals you have for the future.
What is comprehensive financial planning?
A comprehensive (or integrated) financial plan looks at the big picture to consider all relevant aspects of your life, including budgeting, investing, tax, retirement, estate planning and debt or risk management. A professional financial planner will take into account various aspects of your financial situation, identifying and analyzing the interrelationships across sometimes conflicting objectives to help you meet your goals.
What letters should I look for behind my planners name?
The CFP® mark stands for Certified Financial Planner® professional, long recognized as the gold standard in financial planning in Canada. The CFP designation ensures excellence in financial planning through extensive education, a rigorous standardized national examination process, comprehensive continuing education requirements and accountability to FPSC for a code of ethics, practice standards and the rules and regulations of a professional body.
Why is it important to deal with a CFP professional?
With a focus on all aspects of your finances, a financial planner impacts your financial well-being and your ability to meet life goals, today and in the future. Yet in most Canadian provinces, there is no legislated standard in place for those who offer financial planning services. With the exception of Quebec, people who call themselves financial planners are not required to obtain any credentials whatsoever.
The CFP designation provides assurance that the design of your financial future rests with an appropriately qualified professionals who will put clients’ interests ahead of their own.
How can I be sure my financial planner is a CFP professional?
Look for the distinctive CFP certification marks after a financial planner’s name. An individual may only use CFP, the words Certified Financial Planner or 
in Canada with the authorization of Financial Planning Standards Council.
