Are you a new insurance broker? Have you been licensed as a broker for some time, but have recently fled health insurance sales due to dwindling commissions and all the red tape forced by Obamacare?
Whether you’re new to the industry or simply new to Property & Casualty insurance sales for businesses, it might make sense to purchase policies through an insurance wholesaler. In today’s highly competitive industry, when top insurance agents are leaving the field—due to retirement, career burn out, or to change careers—a new broker with the right guidance and relationships can experience unprecedented success.
Let’s look at some reasons to choose an insurance wholesaler as you begin to grow your book of business in this industry.
1. An insurance wholesaler is willing to provide guidance and mentorship.
The BizzGrizz blog recently featured the top three reasons why young insurance agents fail. Number one on the list? “Lack of quality training/education.”
Organizations and schools exist that provide training to young agents. Quality publications like LifeHealthPro offer hundreds of articles and resources to guide those new to the industry, as well as veterans looking for new ideas and support.
But a new agent can also find the necessary mentorship through an insurance wholesaler. Not only does the DBL Center Ltd. provide training upon request, we are always ready and willing to guide new brokers to success. After all, when our brokers produce, we grow, too. Your success is our success.
2. The first few years as an agent can be challenging and your insurance wholesaler is here to help.
Many brokers enter the industry seeking fast and furious financial success. When it doesn’t come, they might get burnt out and seek a new career. From guiding new brokers through the obvious up-sells of ancillary benefits, Group Life / AD&D and even 401K programs, to connecting you with the lowest premiums and most robust policies for your customers by bundling insurance products, a savvy insurance wholesaler can help new P&C, as well as new Life and Health brokers, achieve success early in their career and continue to grow.
The DBL Center Ltd. is celebrating its 40th anniversary this year, and has decades of experience in the insurance industry. We can—and will—show you how to build relationships, and when you sell your products through us, we provide your customers with the best white-label service, so they will associate that white glove service with your name and your agency.
3. Insurance wholesalers provide the technology-based service you expect.
As insurance brokers leave the industry faster than they come in, insurance wholesalers, carriers, and brokerages, alike, face unique recruiting challenges. Millennials and members of Gen Z preparing to enter the work force are hard-working, tech-savvy, and demanding when it comes to having workplace flexibility and the technology tools to do their jobs wherever they might be.
With the ability to bind DBL coverage in New York for under 50 lives quickly and easily, online, as well as online access to a number of our carriers, The DBL Center offers the technology young insurance brokers expect, which may not always be available through other channels.
Let The DBL Center Help You Take Advantage of Opportunities in P&C Insurance Twenty-five percent of P&C brokers expect to retire by 2018, according to a study by McKinsey and Co. This leaves an enormous gap to be filled by bright, young talent.
If you’re a new broker, stick with it. Opportunities abound. The DBL Center Ltd. can help guide you toward success.
by Dawn Allcot