Seven reasons why new insurance agents failed to succeed

I want to provide some insights on why I think such a high percentage of insurance agents have failed in the early years of insurance business.

There may be multiple reasons for the failure of a new insurance agent. Here are the most common reasons I found to cause failure.

• Most insurance agents have a limited product portfolio and cannot cross-sell other insurance products.
• Agents do not have a reliable sales tracking or sales system, and most new insurance agents need to get results quickly.
• They don't quickly create a consistent cash flow from insurance sales, and they must get the insurance business back to work hours to survive.
• The new insurance agency started with insurance business with little or no reserves. Most companies need some upfront funding or reserves to get started.
• Many agents do not receive adequate training [products or sales] to give them the opportunity to train in the insurance business.
• Insurance agents have not learned effective exploration and marketing techniques and can produce consistent sales prospects.
• Some people have no driving force, work habits, perseverance, self-motivation or the ability to refuse to survive in the insurance sales career.

Based on my experience in hiring and training insurance agents over the past 23 years, I have found that I need to provide the following items to maximize the chances of a new agent's long-term success in the insurance industry.

• A high-quality, multi-product portfolio that provides multiple insurance solutions when potential customers discover different needs during the initial discovery process.
• Proven sales tracking and presentations can be taught and implemented very quickly. One gets sales, but it also generates a lot of new prospects and recommendations.
• An early commission system that provides weekly cash flow so that new agents can focus on their training and sales, rather than the bills they pay.
• A tool that makes learning and growth in the insurance business interesting and automated. [ie archive training videos, health and life quote engines, real-time product and sales training webinars, etc.]
• The quality contract provides immediate 100% ownership and commission growth opportunities for the general agent commission level.

In the National Marketing Group, we have learned for many years that new agents not only need to survive in the insurance industry, but also need to thrive in the insurance industry. Our mission statement explains everything. "First, provide a support system for independent insurance agents to provide a successful platform for insurance sales. Second, build long-term relationships through trust and commitment."

We sincerely believe that when the appropriate agent support system is in place, the failure rate of 80%-90% of the new insurance sales agents entering the insurance industry can be greatly reduced. We encourage you and invite you to join us for this very exciting and rewarding career opportunity. I hope to hear from you soon!

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