Client Prospecting

Building up your client base in the initial years is critical to your success as an insurance agent. Having more paying clients will equate to higher commission and renewals for you! In fact, most agents fail in the business because they do not prospect actively.

Successful agents are also thinking about how they can put themselves in front of more people. You can do so by having activities ranging from asking for referrals to active participation in interest groups. The bottom line is to meet as many people as you can to share the financial planning work that you do.

There is no fixed way to do prospecting work and the number of ways to prospect for new clients is only limited by your creativity to run this business.

Providing Financial Advice

Over the years, the financial services industry landscape has changed drastically. Other than advising your clients only on their insurance needs, now you can also advise them on other aspects of financial planning such as:

  1. Preparing your clients with sufficient funds for retirement
  2. Helping your clients to accumulate wealth through investments
  3. Ensuring sufficient education fund for their children’s schooling needs
  4. Advising them on personal risk management

Client Servicing

After closing that case and making the commission, providing continuous quality service is crucial to the success in this business. “Hit and run” agents will usually leave the business within a year or two.

Client servicing includes updating your clients on their insurance portfolio, meeting them for portfolio reviews or catching up, keeping your clients informed of new products that can benefit them. Basically, keep your clients in the loop and build a long-term friendship with them.

Personal Skill Development

To provide the best financial advice for your clients based on today’s fast changing financial climate, you have to keep yourself relevant to the financial planning industry.

To achieve that, you have to keep upgrading your skills set and financial knowledge. There are many professional courses conducted in-house that you may attend. At the same time, you may also get yourself accredited with professional qualifications such as the Chartered Financial Consultant and the Certified Financial Planner from approved learning institutions.

With competency and adequacy, you will be able to command the trust and respect of your clients that you advise.