Andy Neary says insurance producers should secure the agent-of-record relationship first, even if the client keeps their current carrier. He uses a $1.8 million premium account that would generate $60,000 in revenue as an example of why winning AOR status matters more than pushing a new strategy right away.
Questions this video answers
$1.8 million
$60,000
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In this video, I am going to answer a very important question for you. Do you want to win the business selling a different strategy or do you just want to get the agent of record? Hi, my name is Andy Neary, CEO and founder of Completegame Consulting, where we help insurance professionals turn brand awareness into business growth. So do you want to win business because you're coming in with new ideas and you're going to get a prospect to change what they've done for 10 years or you just want to get the agent of record and move on from there? I get this question all the time from producers. In fact, it just came up recently. I was talking to a client who was faced with an opportunity to win an agent of record on a new client paying about $1.8 million in premium, which is going to net him $60,000 in revenue. But he was struggling. He was frustrated because they wanted to hire him but stick with their big name insurance carrier and he wanted to sell his new strategy. So he was in a dilemma. He didn't know what to do. Do I accept the or because they don't want to do what I want to do, they don't want my strategy, they just want to hire me. And I said, listen.
If you are going to deny yourself a shot at $60,000 of revenue because you want to sell your strategy, hate to tell you, you're being kind of ignorant. You see the best way to implement your outside the box strategies is to do them with people who already trust you. They're called clients. And the only way you clients is by getting the agent of record. So my advice is do not deny yourself the opportunity to win revenue, even if they have to. Stick with the carriers you don't like selling for a year or two. Get them in the house, start making money on them, build the trust with the client, then you can go to work implementing the strategies you love implementing in and getting them to the destination you know that is possible in their world. So again, let me answer the question. Do you want to win the business by selling different strategies or do you want to get the agent of record? Get the agent of record and your strategies become a lot more realistic. That's my advice. You'll grow faster, make more money and have a hell of a lot more fun doing it.
