Insurance companies focus a lot of their attention on recruiting new agents. The reason is very simple; agents account for the majority of new business Insurance companies write.
Given that new agent productivity is paramount to continued success it would seem that training programs that ensure that would abound in most Insurance companies. Sadly that is not the way it is. Even to this day there is an incredible amount of turnover in new agents due to their inability to become productive.
Who would want a full time sales position that pays $20,000 a year? When you consider all of the expenses of being in a commission position along with the difficulty of getting new clients a person who settles for what they could earn full time working in retail or a restaurant should seriously consider a new career. I am not knocking what people in retail or the restaurant industry go through. But being in full time sales is very hard. It makes more sense to earn an above average income since you will be dealing with above average job stress.
That being the case let me share with you a method to train new agents for optimum efficiency as early as possible.
1) Make sure agent has some product training prior to hitting the streets – this can be done in classroom, online or in a group setting. Agent must have a basic understanding of the products his company offers along with learning the presentation of his company.
2) New agents need to see experienced agents set appointments – when you bring on a new agent he needs to spend some time watching experienced agents prospect and set appointments. Don’t have him watch a new agent work warm leads, orphan leads or anything that this new agent won’t be calling on. If he is expected to get appointments from cold calling, then he needs to see someone make those calls and have success. If he is going to go and prospect in the streets he needs to see it done by example from an experienced agent.
3) New agents need to watch a presentation, take notes and not say a word – show him how it is done from start to finish with no interruptions.
4) Have new agent participate in presentation- let him do some parts of the presentation and trainer can observe and help out
5) At end of day let agent explain to other agents what he learned from his experience