In 2024, a surprising question about recruitment has emerged. Insurance agents keep asking me, “What do you see in the market for insurance companies?” The fact that agencies are looking for producers doesn’t shock me. The idea of wanting to hire them is amazing.
The search is passive, and many agencies take the approach of “we’re always looking for great producers.” This is not recruiting, it’s like expecting potential new employees to fall from the sky into your lap.
Recruitment is intentional. It’s direct, it’s proactive, and when companies say to me, “We want to hire producers, what do we need to do to get them?” — this is what I offer to insurance agents. Guidance to get started.
What are other insurance agents doing?
Looking for sales candidates?
Producer recruitment is like a fork, with each branch representing a sourcing strategy that works in conjunction with the others. I advise agencies to have multiple avenues for sourcing producers. The most common ones are:
Direct Recruitment — Agencies recruit candidates directly (on their own or with the assistance of external recruiters) to network with industry centers of influence and identify sales talent from competitors. Masu.
Academic Affiliation — My kids’ high school in the Des Moines area has a dual-credit college program sponsored by a major insurance broker. These programs introduce future employees to insurance as a career in high schools and colleges and, as sponsors, give companies like yours an internship pipeline and a recruiting advantage.
Intergenerational connections — Many experienced insurance professionals call me and ask for advice for their son, daughter, friend of a friend’s child, etc. who want to get into insurance. You know these same people. They may be your underwriter or claims adjuster. When you conclude a conversation with an industry representative, remember that you’re looking for a great new sales talent. Ask them for introductions.
how to judge what
Is the experience suitable for us?
Producers fall into one of three categories: newcomers, B2B converts, and experienced newcomers. Unless you have a strong aversion to one of these categories, stick to the folk analogy and utilize all three possibilities.
The first priority is to replicate past successes. This is a powerful recruiting pitch that shows candidates that people with their background are successful at your agency.
The first priority is finding the right DNA. Consider profile ratings. Set the baseline using the results from the current producer. Remember to select different talent within your sales team to increase your chances of hiring diverse talent.
Our third priority is to help determine the profile in the tools we provide to new producers. for example:
• Plant seeds of books in them? Next, we recommend targeting experienced candidates.
• Is there any good in-house training? A college graduate might be great.
• Do you have a mentor with deep subject matter expertise or a great AE at your disposal? Hire a B2B convert, a natural door opener with a rolodex. They just need your help to cover their insurance knowledge gaps.
What should we tell producers?
Advantages of recruitment?
My May 2023 column, “Great Proposals for Hiring Producers in a Competitive Job Market,” explains all about how to position your recruiting message. Candidates are insightful and will quickly notice things you aren’t thinking about. For example, a Top 100 broker recently told me that experienced producers want to join their company because, “We have long tenure, unlimited income potential, work hard, and are here to help.” This is because there are people who love working.” All of that may be true, but wouldn’t any agency say that in theory?
You need a sales pitch that makes you stand out, and that soundbite has to be personal. Here are some examples of things sales candidates love to hear:
• Lead generation engine
• Mentorship and team-based selling
• The availability of internal resources (marketing, claims, loss control, technology, etc.) is substantial and has a significant impact on account retention.
• Ownership, wealth creation.
• Leadership opportunities — i.e. planting a flag in a new region, building a team under it, or putting yourself in a position to become a future successor.
Topics Talent
Are you interested in talent?
Get automatic alerts on this topic.
