Agency Performance Partners


4 Insurance Processes: Insurance Goal Setting

Posted on June 10, 2021 by Kelly Donahue Piro

4 Processes Your Agency Needs

Today we’re onto the next process your agency needs, and this one might throw you for a loop. That’s because it’s something that many of us are not great at, and that’s setting goals for your agency. 

“Goals often get a bad rap because too many people feel “It’s too much. I don’t like it. It’s pressure.” But it doesn’t always have to be pressure if it’s presented in the right way.”

When it comes to insurance goal setting, many agencies take the “let’s wing it” approach, and just work off of feelings. But this approach can mean that your agency is missing out on some big opportunities, and there are plenty of data points available which can help you on your journey to insurance goals setting. Here are some ways you can get started with setting insurance goals for your agency:


1. Come up with a process

Developing a process around insurance goal setting is key to being successful in this venture. The first place we typically start with insurance goal setting is with the agency’s revenue or premium, whichever one you feel like working with. After you have his figure, you can apply a retention rate, average rate increase, and target growth rate, to come up with your goals. If this seems like an overwhelming thing to tackle on your own, we have this process all ready to go for you in our Agency Process Packs.


2. Hatch a plan

Actually establishing a goal is only the first part of this equation. In reality, we also need a plan of execution to achieve our goals. Is your agency going to go back after lost business? Or are you going to give your team the tools they need to cross sell? You need to keep in mind that a goal without a plan is really difficult, and you need to guide your team towards their goals.


3. Remember that goals are challenging

We tend to shy away from goals for good reason, and that’s because they’re really challenging. Goals make us feel vulnerable, and no one likes to feel vulnerable. But we need to redirect our thoughts on goals, and keep in mind that goals don’t need to be presented as intense pressure. Instead, they can be seen as a tool to help us get on track, and into the right direction.


If you’ve struggled with insurance goal setting in the past, definitely check out our Agency Process Pack, which will help you set a methodology which works for your agency, so you have a framework for successful insurance goal setting.


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