Successful Failure: Resurrecting Today's Multi-Line Insurance Agency

Overview

Successful Failure deals with proven management practices for today's insurance agents, addressing passive versus active marketing techniques and why Internet insurance leads are financially unsustainable. In order to build a sustainable business model, agents must keep current with effective strategies to attract business partners rather than chasing them through outdated methodology.

Today's insurance industry is in a state of crisis, trying to understand social media in an ...

See more details below
Other sellers (Paperback)
  • All (6) from $13.05   
  • New (4) from $13.05   
  • Used (2) from $58.99   
Sending request ...

More About This Book

Overview

Successful Failure deals with proven management practices for today's insurance agents, addressing passive versus active marketing techniques and why Internet insurance leads are financially unsustainable. In order to build a sustainable business model, agents must keep current with effective strategies to attract business partners rather than chasing them through outdated methodology.

Today's insurance industry is in a state of crisis, trying to understand social media in an effort to engage prospective customers and draw them to their brand. Positioning themselves as knowledgeable resources for individuals and families within their community is critical.

Twenty years ago insurance salesmen and prospective clients would communicate through face-to-face interaction or by telephone. Yielding to teen pressure, parents installed "teen phone lines" listed as such in the local telephone directory. As telephone books and home phones gave way to the Internet and smart phones, business today markets to a camouflaged customer base where many are without published addresses or telephone numbers.

Depending on the age of the prospective customer, they may text more than talk and believe email is obsolete. Struggling to understand the buying habits of today's consumer, companies search for techniques that identify prospects. In order to grow and prosper, companies know that successful marketing strategies must be developed.

Technologically savvy customers log on to the Internet and sign up for information in search of the best value available. Overwhelmed by the barrage of information through electronic media and phone calls, the prospective customers take cover and make decisions by the only common denominator they understand - PRICE!

Many insurance carriers promising low cost auto rates are playing the pricing game, providing grossly inadequate liability coverage. This action places consumers in a devastating financial predicament in the event of a serious accident.

While the buying population ages and premiums for this market segment fall, insurance carriers are frantically trying to appeal to younger customers. The predicament compounds as the insurance sales force is also aging. Reluctant to embrace Twitter, Facebook and Social Blogging, veteran sales agents are witnessing diminished agency premiums while the ability to reach the younger market segment shrinks to an all-time low.

The insurance market is tied to a struggling economy where one in five people are either unemployed or underemployed. Due to the high costs of premiums for full coverage, consumers embrace increased risk as a part of their overall risk management plan.

Agents who are viewed as successful are failing to produce business at a rate that will replace the lost premiums. Today's sales managers who left insurance sales many years ago become messengers from corporate hierarchy, measuring applications rather than premiums. They use outdated training techniques that have little, if any, potential to attract today's tech-savvy consumers.

New agents are failing at an alarming rate as they enter a profession amid carriers who offer products through outdated sales practices and pricing strategies. Successful Failure will help today's insurance agencies transform their operation to meet the new marketing strategies necessary to attract tomorrow's insurance consumer.

Read More Show Less

Product Details

  • ISBN-13: 9781432770198
  • Publisher: Outskirts Press, Inc.
  • Publication date: 6/13/2012
  • Pages: 100
  • Product dimensions: 5.50 (w) x 8.50 (h) x 0.21 (d)

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)