When you look at any system, the equation is going to be about the same; a compilation of input (effort) turning into a corresponding output (results). This is no exception when it comes to doing business in the insurance industry. The proverbial totem pole is measured by success when it comes to producers, agencies, and carriers which all stem from the same equation. When you are in a competitive industry, you have to identify how you are going to work your way up the totem pole. This typically comes in the form of more input than the competition but sometimes, there is a path of least resistance; we call this working smarter not harder.
Keeping up with GloveBox
Andy Mathisen, the Co-founder and Chief Marketing Officer of GloveBox, was an observer of the insurance industry from a young age. After spending a year and a half at a startup tech company after college, he inevitably made his way into the family agency as the team’s Marketing Director. This position required a lead generation strategy of gorilla marketing to feed a team of inside sales reps. Building a referral partner network of mortgage brokers, realtors, and financial planners became his bread and butter. As the book scaled quickly, the team was growing, which allowed him to step into a management position overseeing the sales team. The next phase of Andy’s career was a big decision, to move into the insurtech space and start GloveBox alongside his brother and two lifelong friends. It was the opportunity of a lifetime with the ultimate goal to bring a major solution to the independent channel. Today, the company has made a tremendous impact in the industry by allowing agencies to license the self-service platform for its policyholders. The company’s story continues to be told as its technology evolves towards a full-scale solution for the best client experience for independent agents.
The journey of an independent agent has a very similar story for most who have had a career in the insurance industry: After weeks/months of studying for your test, everything finally kicks off with a newly issued license in P&C, Life, and/or Health and it’s officially go-time. You find an agency willing to let you come in and get to work and away you go. From day one, you jump in the proverbial saddle and are expected to call, quote, and sell business. If you were to poll 100 agents and have them walk through their first year in the industry, they would most likely tell you that this was their story. “I was thrown into the fire and had to learn insurance on the fly”. But in those first few weeks, it becomes very clear what will end up being the biggest problem…where do all of the leads come from???