.png?width=180&height=65&name=Untitled%20design%20(29).png "Untitled design (29)")
In our free Facebook group, Insurance Soup, I regularly engage with our audience of agents, brokers, and team members through various polls. Recently, we conducted a survey to gauge the quality of training provided by their carrier partners, focusing on three critical areas: Product Training, Sales, and Marketing.
The results we gathered, while not entirely unexpected, painted a grim picture. The overwhelming consensus was that product training is at best mediocre, with sales and marketing training being rated even lower, often described as abysmal.
Major insurance carriers are currently in a recruitment drive, bringing in new agents from diverse backgrounds, many of whom have no prior experience in the industry. These recruits are given a cursory training session before being expected to represent these major brands. They are required to demonstrate financial stability by showing proof of cash reserves, yet the training they receive to actually succeed in this competitive field is woefully inadequate. This scenario leaves many agents feeling lost and unprepared for the challenges ahead.
It appears that carriers have come to accept this high turnover rate as a standard part of the business model. They recruit, gain a few policies through these new agents, and when the agent inevitably fails, they retain the book of business and move on to the next hopeful. This cycle not only wastes resources but also tarnishes the industry's reputation.
Moreover, there's a troubling trend where carriers believe their training programs are effective. This belief is often reinforced by feedback surveys where agents, fearing potential repercussions, rate the training highly despite its shortcomings. This cycle of false feedback prevents carriers from recognizing and addressing the real issues.
The so-called "marketing gurus" sent by these carriers further compound the problem. They advocate for strategies that are not only outdated but also ineffective in today's digital age. For instance, recommending investments in billboards and radio ads when the market has clearly shifted towards digital marketing. When it comes to internet leads, without the right systems and training, these leads become more of a liability than an asset.
If we aim for better training, it's imperative that we voice our concerns. Honest feedback is crucial. We cannot afford to rely on outdated or incomplete training programs to guide our success. It's time for agents to take control of their professional development by seeking out mentors who are actively working in the field, not just those who are fulfilling corporate training requirements.
Don’t let poor training dictate your future. Invest in real-world knowledge from those who are doing it right. This shift towards self-improvement and seeking genuine mentorship could very well be the turning point for many in the insurance industry, transforming the cold soup of today into a hearty, nourishing meal for tomorrow.
