For the insurance industry, hiring for diversity is no longer a fad but a downright expectation

We as business owners are in a challenging time, there is no doubt about that. I think we are all sick of hearing about COVID and the perceived limitations it has put on our agency’s operations and growth. But we have RISEN to the occasion, making drastic pivots in our agencies. We have been forced to make extreme digital enhancements, and in hindsight, learned that we can actually run more efficiently than ever before...who knew?!

But now we are faced with a different challenge, and that is looking deep within our agency and evaluating the state of diversity we have created. Have we made a concerted effort to balance our hiring efforts across multiple racial, religious and social segments? The answer for most is no, and the days of having a single "diversity leader" within the agency are gone.

The time has come that we as agency owners embrace the change that is happening. 

This challenge has presented a very unique opportunity, one that CAN and WILL enable us to build a stronger agency.

If there is one thing I know about sales and working with people, relatability is everything between a client and their advisor. Let's be honest, insurance in itself is not unique between agencies as much as we like to tout how we are “different.” 

We all sell pieces of paper with the same carrier name and number at the top. 

But it's the PEOPLE within our agency that makes us different and thus successful! Younger agents attracting younger clientele, more seasoned agents relating better to the higher net worth segment, Asian service reps developing a better rapport with Asian community policyholders, and African American agents generating more referrals from their African American referral partners. Relatability is so key in a sales-as-a-service industry such as insurance.

My point is this, agencies that limit themselves in diversity whether it be age, race, religion or sexual orientation will ultimately lose. By limiting diversity in your agency, you are simply limiting your market segment within the communities that you sell within.

Culture runs so deep in any segment of diversity, and this leads to extreme loyalty. Agencies that diversify their PEOPLE will experience a much more loyal and broad base of clientele, which intern leads to higher revenue for the agency and better earning, longer-lasting agents, and CSRs.