Agency Management: Managing a Multi-line (1.5 Credit Hour) TDI Course No.

 

Chapter 6:

 

6.1   Top Five (5) Keys to Effective Multi-line Agency Management from Successful Agents:

• Have written position results descriptions with measurable, time-bound performance standards for each multi-line agency position
• Share how employees performance will be measured (A positive control system is in place) and provide timely reviews
• Provide opportunities for continuous learning for all employees and over and beyond CE requirements
• Let employees know that failure is okay, repeating same failure or mistake is not
• The greatest way to impress your employees is to walk the talk

 

6.2   Some Additional Keys to Effectively Managing a Multi-line Agency, from Successful Agents (By Michael Abrashoff & Teresa Kitchens)

Why is it, that insurance agent are so bad at managing their insurance agencies? I work with thousands of agents around the country in various lines of business and most agents are not focused on the business of running their agency. Typically, agents that are focused on managing have stepped out of daily selling. If agents are selling, they are so consumed there that they don't truly watch and manage their office infrastructure. This is the beast of insurance management and even more of a problem for multi-line agencies. To avoid this trap, remember the following points:

-Realize that you don't know everything. We tend to have difficulties with delegating work because we think that we can get it done faster and easier. This neglects the staff in allowing them to find ways to learn new skills. This will also chain you to your office at all times and make the finer life a disappearing dream.

-Trust your staff. Simply put, your staff will not trust managers who don't display the necessary skills. Run your office by example, show wisdom in your decisions, and center your office on integrity. For your team to trust their leader, they need to believe that the manager has their best interest in heart as well as their client's.

-Stay organized. Management set's the tone for the office. Keeping your agency organized and valuing your systems will encourage the staff to do the same. Set the example of being on top of your business and your staff will fall into step with your example.

-Listen to your employees. Keep in mind that your producers and staff are processing paperwork every day and work directly with your clients. Listen to their ideas about how to service clients and manage the office more efficiently. Don't feel obligated to make every change, but it is important for you to listen and equally as important for the staff to feel heard.

-Speak positive words and express a positive body language. No one likes a "glass is half empty" kind of person. We all need our dose of reality occasionally, but your staff looks to you for stability. Nothing zaps the energy from the room like a negative person. You don't have to be a bubbly personality all the time, but the manager has to believe in what they do to create a motivated environment for everyone to prosper.

-Put people first. People are the most important asset of any organization. The U.S. military's motto is "Mission first, People always." This is an explicit recognition that without people, nothing is accomplished.

- Encourage risk taking and innovation. Organizations that stick to the 'tried and true' often stagnate. Progress comes only through moving into uncharted territory and trying new things. Identify and reward the risk takers and innovators in your organization.

- Embrace change. Change is a constant in life; in fact, the only constant. To be an effective manager or leader, you should not only embrace change, you should promote it.

- Emphasize honesty and integrity. The most technically competent people who lack honesty and integrity are little more than charlatans. If an organization is to prosper and endure, it must exude trust, and the integrity of an organization is a function of the honesty and integrity of every member of that organization.

- Establish open communications. Knowledge is the key to power and success. As a leader/manager, it is essential that you have access to the knowledge of those around you. An atmosphere of open, candid communication provides you the knowledge to make effective decisions.

- Foster a learning environment. Each decade, science and technology increases exponentially. Learning should be a life-long pursuit. In addition to continually learning yourself, as a leader, you should encourage your subordinates to constantly upgrade their own skills and knowledge.

- Be a team builder. No man is an island. Except for certain works of art, nothing is created without the effort of a number of individuals working together. Leverage the diversity and different talents within your organization through the creation of teams.