A brewing crisis: no new producers

Article Abstract:

The insurance industry badly needs insurance agents who are sales producers. Insurance companies experience various difficulties with their efforts to recruit insurance agents. The industry faces the problem of finding its recruits from prospective insurance agents who lack the basic skills and background about insurance business. This problem is caused mainly by the industry's miscalculations such as over generous compensation in the 1980s, cost cutting moves in the early 1990s and companies' tendency to reward producers who specialize in selling rather than servicing in the mid-1990s.

Supply and demand, Recruiting, Insurance agents

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To survive, small agencies should upgrade their skills now

Article Abstract:

A 1996 Conning & Co study indicates that the number of insurance agencies with revenues of less than $750,000 will decline. Smaller agencies, in order to survive, must find creative methods of managing their costs and increasing their revenues. Agencies can generate more fee income by diversifying into services such as claims management and risk management, but they need to enhance their sales, marketing and management capabilities.

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Agency leadership takes different forms

Article Abstract:

Successful insurance agency leaders possess strength of character based on life experience, day-to-day business dealings and vision. Leadership styles among agents vary considerably; however, many share similar characteristics. These characteristics include a willingness to give wholeheartedly to the agency, confidence to share successes with others and expertise to train and develope additional upper-level staff.

Case studies, Column, Leadership

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