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Ways to be a successful insurance broker

#1 – Technical/sales skills – boost them both!

“Insurance brokers are both technical experts and have a good relationship and sales perspective,” said Rees. “The combination is quite unique. In pure insurance, it is more about the technical side and less about the relationships. Plus, if you looked at more general sales roles, there is not that reliance on the technical side.”

So if you feel you are a superb sales person, but lack some technical skills (or vice-versa), do not accept one strength as a replacement for another weakness – work to ensure you are skilled on both vital areas.

#2 – Regular performance reviews

OAMPS Insurance Brokers have worked with a firm called Sonar6 for the past two years so they have a regular performance review infrastructure in place.

“We did not have any performance management process in place prior to that and wanted to have an online and customised review system,” said Rees. “The staff have reacted to this system very positively, they appreciate the opportunity it gives them to meet with their manager.

“In the past, that was a process that either did not happen or was a bit cumbersome and time-consuming. This now gives more consistency in these conversations and gives everyone an opportunity to track how they are performing,” she said.

How much has your work improved? Would you even know how to measure that in a quantitative sense?

#3 – Understand the ‘Client Aspiration’

“It is important that our brokers understand how to deliver our ‘Client Aspiration’ and that is founded on their ability to understand their clients,” said Rees.

“We spend a lot time working with brokers on their questioning and their sound understanding of their client needs. It is about knowing how to build a trusted advisor relationship. This enables brokers to pro-actively provide solutions, rather than just finding a product which is the best price. Price should not be the conversation-starter, it is about solving our clients’ needs,” added Rees.