How to Increase Insurance Agent Productivity: 10 Ways to Increase Efficiency

by admin - March 18, 2024
Insurance agent sitting at laptop, graph bar rising into the sky illustrating productivity.

When you’re becoming an insurance agent, maximizing your productivity may seem like a difficult task — especially if this is your first stint in the world of sales. To better help new agents like yourself succeed in this industry, this guide will walk you through a 10-step framework designed to boost insurance agent productivity right out of the gate. Along the way, you’ll also learn about the science behind workplace productivity and how to apply that science to your own working life. 

Uncomplicating Insurance Agent Productivity 

The first question you need to answer is this: What exactly does it mean to be productive? At the end of the day, as an agent, you need to accomplish the following tasks: 

  • Achieving Sales Goals: What matters most to your agency? New policies sold? Renewals? Cross-sells and upsells? Understanding what key performance indicators (KPIs) matter the most is the best starting point. 
  • Client Satisfaction: Are your clients pleased with your services? One way to measure this somewhat subjective concept is through something called the Net Promoter Score or NPS. 
  • Financial Performance: Ultimately, your efforts need to boil down to one number: net operating income. Your agency likely has other ways of measuring performance, but the bottom line is all that matters at the end of the day. 

Along the way, you also need to continue to stay up to date on industry trends and your own professional development. 

To summarize, the first step in increasing your productivity and overall success as a new insurance agent is mapping out what productivity looks like in the first place. 

Plugging Into the Power of Technology 

For auto insurance agents, essential technologies streamline operations and enhance client service. 

Customer relationship management (CRM) systems track customer data and interactions, while comparative rater systems enable quick policy comparisons. There are some great mobile apps to choose from that offer on-the-go access to policy and client information. Many agencies also now employ telematics as a way to personalize rates based on driving behavior. 

Latest technological innovations include AI and chatbots. Once harnessed, these tools offer time saving measures that increase customer satisfaction. It’s no longer necessary to pick between a needy client and your child’s birthday party – you can do both.  

Don’t forget to take advantage of well-tested digital marketing tools to extend your online reach and compete on a level playing field with other agencies in your area.  

Familiarizing yourself with these technologies can help you increase your productivity as an insurance agent, while saving time and increasing your customers’ satisfaction.  

The Role of Customer Relationship Management Software 

CRM platforms help manage client data, interactions, and policies. They can streamline communication, automate follow-ups, and provide insights into customer behavior and preferences. If your agency doesn’t already have one, it should. 

The top CRMs for auto insurance agencies include Zoho, Salesforce, Insureio, Pipedrive, and HubSpot, among many others. These systems often also feature integrated email marketing modules. Some product partners offer a CRM program for their affiliated agents. Choosing to partner with a company like this can simplify the process for you. 

Reworking Your Workday Structure 

How can you redefine your workday to skyrocket productivity? Start by meticulously planning your day right from the outset, distinguishing between high-priority tasks and those that can wait. Why not let technology shoulder some of the load? With CRM systems to manage customer interactions and policy management systems for document handling, you’re freed up to focus on what truly matters — connecting with clients and closing sales. 

Ever considered dedicating specific times for prospecting and administrative tasks? This approach ensures that crucial sales activities aren’t sidelined by the day-to-day grind. And what about interruptions? Limiting them by setting specific times to check emails and messages can dramatically increase your focus. 

Remember, productivity isn’t just about working non-stop; scheduled breaks are essential to recharge and prevent burnout. As your day winds down, take a moment to review your accomplishments and plan for the next day, turning reflection into an opportunity for growth. Continuous learning plays a crucial role, too. Are you staying abreast of the latest technologies and industry trends to find new ways to boost efficiency and improve service? 

By smartly structuring your day, embracing the power of technology, and prioritizing tasks, you can boost your productivity as an auto insurance agent, making every minute count. 

Insurance agents sitting around a table with productivity written in the middle.

Pursuing Healthy Practices to Boost Productivity 

Taking care of your productivity means taking care of both your mind and body. A few of the best ways to accomplish this include the following approaches: 

  • Take Frequent Breaks: It might make sense to build regular breaks into your workday by giving yourself a 5-minute break every so often, whether that’s just to stretch your legs or get some water, especially for agents who regularly sit at a desk for an extended amount of time. 
  • Get Adequate Sleep: While some people can get by with less sleep, getting the right amount every night can play an important role in keeping you from burning out and staying productive. Consider incorporating a “devices off” point into your daily routine. 
  • Don’t Work More than 40 Hours per Week (If Possible): A Standford University study on working hours found that the amount of productivity a typical worker can output drops significantly after 50 hours in a given week. Beyond 55, you’re in the danger zone, where you start to see minimal to no productivity. 
  • Get Regular Aerobic Exercise: Even a 20-minute walk each day on your commute counts. Make sure that you’re hitting the treadmill or getting out and about multiple times a week to keep your heart and mind as healthy as possible. 
  • Take Vacations: Lastly, one of the perks of being an agent is that you get some degree of flexibility in your life, especially if you have your own agency. Don’t forget to take a few weeks off each year to keep your mind well-rested and relaxed for those stressful weeks when you need to meet your quota. 

Adopting the Two-Minute Rule for Quick Tasks 

The “Two Minute Rule” is a productivity principle popularized by David Allen in his book Getting Things Done. The rule is straightforward: if you encounter a task that can be completed in two minutes or less, do it immediately. The rationale behind this rule is that it often takes more time to review, postpone, or delegate a task than to simply finish it on the spot. 

Applying the Two Minute Rule helps clear small tasks from your to-do list, reduces clutter, and maintains momentum in your workday. It’s also another way to avoid burnout as an insurance agent. 

Intentional Meetings: A Tool for Time Management 

If you’ve ever worked for a major corporation, you know how many meetings you can have that end up with the same conclusion in your mind: “This could have been an email!” To avoid this problem, consider applying the “intentional meetings” approach. 

Every meeting you schedule should have a clear purpose, agenda, and takeaways. The outcome should be clear from the get-go, and only those who need to be in the meeting should be in attendance, virtual or otherwise. 

You should also start and end your meetings on time, especially for client calls. 

Pomodoro Method Explained 

Have you ever heard of the Pomodoro Technique? It’s a time management tool that can be a real game-changer for auto insurance agents like you who want to boost productivity and handle their workload better. Basically, you break your work down into chunks, usually 25 minutes each, and then take short breaks in between. It’s a simple yet effective way to stay focused and keep things moving smoothly. 

Strengthening Informative Decision Making 

What it comes down to at the end of the day as a new insurance agent is this: how do you make better decisions with the limited information you have at any given moment? 

The key is to focus on the facts and nothing but the facts. Numbers don’t lie, so if you start to see your outbound call rate fall, if clients aren’t closing as many deals with you, or if you haven’t been able to retain your existing book of business, then you will need to act quickly and decisively to solve the problem. 

Become a Productive Independent Insurance Agent 

To be the most productive agent you can be — in addition to these insurance agent productivity hacks — you need an insurance partner you can count on. 

Bluefire Insurance works with independent agents like yourself to perform and achieve optimally while you offer high-quality auto insurance and other coverage to your customers. 

To get started, give us a call today at (866)-424-9511 or contact us online for more information. 

Customer Service866-424-9511