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8 Ways to Make Money in Insurance

Posted on October 1, 2021 by Alex Arellano

View All 4 Minute Insurance Agent 2021 Videos For the Week

If you are an Insurance Agent 2021 stop and take a moment to watch these videos to help you become ridiculously amazing this year.

 

Selling New Policies To Make Money In Insurance

When you think about how agencies make money in insurance, it seems pretty straightforward. The perception is that someone calls in, they need coverage, you give it to them, and they give you money. Simple, right?

“When you think about how agencies grow new business, a lot of times it’s dumb luck and we don’t want dumb luck to be your strategy. Your agency needs a new business strategy in order to be successful.”

 

Insurance Retention Drives Growth

Welcome to our mega-series of eight ways that insurance agencies make money, where we cover a different topic every day. Today’s topic is crucial, and it’s retention. 

“The higher you can get your retention, every new piece of business you put on top can mean potentially a lot more.”

 

Cross-Selling Makes Money In Insurance

For two weeks we’re diving deep into the eight ways to make money in insurance, and today’s topic might just be our favorite. Cross-selling is one of the best and easiest ways to make money in insurance, and yet, so many agencies fail to truly take advantage of it.

“You need to be cross-selling your book of business, because they’ve already said yes to you, it’s an easy sale, many times you can combine and save or combine and simplify… a lot of times we just have to be asking.”

 

Insurance Coverage Improvements

All agencies love making money, which is why we’re spending two weeks discussing eight different ways to make money in insurance. Today’s topic might only add incremental amounts of money to your bottom line, but it also adds huge value: insurance coverage improvements.

“Why I love coverage improvements so much is it’s education to the client, as much as it is making a little extra revenue, but that little extra revenue has a lot of goodwill attached to it.”

 

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