In Becoming an independent insurance agent

When you’re getting ready to start an independent insurance agency, you need to figure out who your clients are. Whether you’re a captive agent making the transition to the independent world or you’re new to the industry, identifying your target market is an important pre-step to opening up an independent agency.

Starting an independence agency

Researching the demographic segmentation of your community can help you identify your niche client.

Be specific about your target market

It’s too vague for an insurance agent to want to sell to everybody. The more specific you can be about the clients you aim to target, the more likely you are to acquire those clients. You can’t be all things to all people; each client has specific needs, and it’s too costly and time-consuming to try to target everyone.

Use your connection

To find out what market you should target, you need to take a look at the industries where you already have a connection. If you’re coming from the world of retail, technology, education, manufacturing, etc., then use your connections. Use your prior knowledge of that industry to find your niche client and focus your marketing and customer service on the specific needs of those clients.

If you’re coming from the captive world of insurance, look to your partner, girlfriend, boyfriend, wife, husband, parents, in-laws, etc. to see if there is a natural connection to a specific industry and client base.

Starting an independent insurance agency

Once you identify your target market, you will know how to generate a marketing strategy that speaks to your preferred client.

 

Demographics of your community

You can also look at the demographic and reputation of the community that you live in. Find out why people like to live there. Research what attracts people to move to your community. What do they do for a living? Do they have families? Are they young or old or in between? Is it a college town, a great place to retire, friendly to entrepreneurs, etc.? Once you know the hopes and dreams of the people in your community, you’ll be able to hone in on the type of insurance that is most necessary and more likely to speak to those people.

Minimize competition

By narrowing down on one industry and one type of client, you’ll be able to provide much more personalized customer service and position yourself as an expert and a leader. The more specific you are, the less competition you’ll have.

Start an independent agency in Colorado, Arizona, and Utah

Tips to running your own agency in ColoradoAffordable American Insurance provides a turnkey business model for a captive insurance agency to transition to the independent world, or for an existing independent agency a platform to increased carrier representation and revenue while removing carrier production requirements.