How to Build a Book of Business as an Insurance Agent

Without a solid and growing book of business, it’s tough to be successful as an independent insurance agent. That’s why many agents spend a large chunk of their time doing everything they can to attract new clients, retain current ones and sell additional policies. 

Those are the three crucial aspects to every insurance agent book of business — new clients, current clients and cross-selling/upselling additional policies. 

But, how do you build a good book of business if you’re just starting out? Here are some tips about how you can build your book of business with a multi-pronged approach. 

Define Who You’re Going to Target 

Before you can start prospecting for clients, you need to clearly define who your target audience is. Much of this will depend on what type of insurance policies you sell (or want to focus on) and where you are located. 

If you live and work in a nice suburban community, your focus might be on auto and homeowners insurance policies that you would sell to the married couples who have children and own a single-family home. 

Conversely, if you live and work in a trendy part of a city, you might be looking to attract a more youthful client base who might not own a car or home, but be interested in other products such as life insurance and annuities.  

Insurance is such a vast industry with so many different products that it’s important to clearly define your target audience first, because that will determine how you will try to attract new clients. 

Become an Expert in What You Sell 

As a new independent insurance agent, you’ll need to figure out ways to stand out from your competition. A great way to do that is to become an expert in the products you sell so that you can become an advisor to your prospective clients. 

Learn your products inside and out, including not just the nitty-gritty details of them but who might benefit from each individual section and why. Not only will this help you identify potential targets for the products you sell, but it’ll help you cater those products to each individual prospect when you’re contacting them. 

Knowledge is power, as they say, and proving to potential clients how knowledgeable you are in the products you sell will help them trust you. 

Involve Yourself in the Community 

Insurance sales can be as much about trust and likeability as it can be about the actual insurance policies you sell. This has become even more pronounced today, as so many different insurance companies sell policies that are similar. 

Not only that, but D2C companies have popped up, making it easier than ever for people to customize any insurance policy to their needs on their own — all without ever having to contact an agent if they don’t want to. 

This can serve as an opportunity for you, though, as many people still desire personal relationships with their insurance agents.  

A great way that you can stand out in this regard is to involve yourself in the community. Join local business groups, volunteer with local charitable organizations and set up booths at local fairs and festivals. 

The more you can be out in the community, the more recognizable you’ll become. Over time, you’ll start to develop good connections in the community, many of whom will become your clients. 

These people will also serve as good referral sources for you, especially if you’re able to deliver quality service for them. 

Offer Something Others Don’t 

At the end of the day, you can be the nicest and most likable person in the world, but if you don’t provide products and services that people need, then they’re going to be forced to go with another insurance agent or company. 

So, an obvious first step is to ensure that you’re offering insurance products that your target audience needs. Not only that, but you should offer a wide selection of different products under the same umbrella, ideally from multiple carriers if possible. 

Beyond just a choice in insurance products, though, one great way to stand out and add value is to offer something that other insurance agents don’t. This could be free one-on-one consultations about risk management, exclusive access to events you host, and other useful tips that help your clients protect themselves and their assets better. 

If you follow these ideas above, you’ll be building your book of business as an insurance agent in no time. 

Discover the Good Life  

At Good Life Insurance Associates, our experienced insurance sales associates are here to provide support and training for both new and experienced agents. To learn more about us, remember to explore our business support services. Or, to speak with a member of our team about your journey to becoming an independent agent, contact us today!  

Discover the Good Life