Each year, Angela Adams Consulting works with about 700 agencies that vary significantly in size, shape, and location. In our 20+ years in business, we have identified common elements among those we consider the best in the industry. We call these the Foundational Elements of Success.
Improve the client experience
To improve the client experience, you must see your agency through the eyes of the general public (also called suspects or leads), prospects, and customers. The goal is to map every interaction and touchpoint in the journey from lead to prospect to customer, and improve each phase. This is an elephant you have to eat one bite at a time, and you should never stop trying to improve your clients’ experience.
Leverage modern technology
Incorporate the use of technology to automate tasks and reallocate staff time to more client-focused activities. Have you purchased a pile of “magic wands” that your staff is not using? A “magic wand” is what we refer to when we see owners purchasing software to solve a problem or achieve a goal without considering the execution. Evaluate and eliminate software that staff are not using or that does not help you meet your agency goals. Seek out software that integrates with your management system - the Orange Partner list on the Vertafore website is a great place to start.
Proactive Financial Management
Many agency owners come and thrive in a sales-dominant role and are not comfortable with the financial management aspect of the agency - get help! Do not bury your head in the sand and hope for better results.
Find and Retain Great Talent
Consider a “Grow your own unicorn” strategy rather than trying to hire a unicorn.
The great resignation created an even bigger knowledge gap for many agencies. As the pandemic ushered in a newfound acceptance of remote work – highly skilled insurance professionals have begun demanding high salaries and top-notch benefits. Your employee retention strategy must overlap with your recruitment strategy. Agencies need to woo potential employees with the same fervor as new clients. A proactive approach must encompass evaluating the position itself, targeting the right candidates, the appeal of your agency as an employer, employee development strategies including career paths, and the company culture, including individual employee experience.
With in-office employees - agencies did things like ice cream socials, massages, and car washes in the parking lot. As many agencies elect to stay at least partly remote - a proactive engagement strategy is critical to retaining your great employees.
We can Help!
Our goal is always to shine the light to your success - anything that we can take off your plate so you can focus on what you do best - helps you be the best agency you can be.
We believe these Foundational Elements will help ensure long-term success (however YOU define it), and we want to help you achieve your goals.
Visit this page to learn more about each of these foundational elements and stay tuned as we continue to add valuable content that will shine the light to your success.