Case Study: Insurance Company (Independent Agency)
This agent (CC) is that good! CC is top of their field in sales and referral based business year after year. What was missing is the organizational umbrella CC was working under was changed and no longer serving clients in a meaningful way. Integrity was no longer part of the culture of the organization. CC wanted to create a business model and own their own agency with values and integrity they could stand by.
See how Red Shoe stepped alongside CC in creating a growing agency in less than three years and created four new jobs.
The Opportunity
Across the Insurance industry, insurance companies are traditionally known as solid organizations or agents who are a “dime a dozen” there is one on every street corner. How does a successful sales agent create an amazing solid organization and not become the “dime a dozen” brands. What relationships and practices do we need to engage visibility and quickly become a referral based organization?
The Challenge
Insurance industry is highly regulated which creates a challenge in making sure these are followed. The second challenge is CC would not be able to take current book of business to new organization and or contact these clients directly. CC would be starting a new book of business and not bring current clients to the new organization.
To add to the challenge CC would not have support staff due to start up profit margins. That means there is not room for fatal errors in monetary resources to gain visibility while building a new book of business.
The Approach
Our client CC and Red Shoe did extensive research and analysis on the industry while also outlining the regulatory dos and don’ts. The analysis gave us clear direction in building a solid foundation of next steps and coaching CC through the entrepreneurial unknown.
Created a business plan which included a website, social media design, and accountabilities CC would complete weekly toward building next steps. Part of the business plan is to also find a brick and mortar location as per industry standard.
Weekly coaching sessions with CC and also being available for questions and a guidepost in the next steps and decisions. One of the biggest challenges new businesses face is where to spend two of their most precious resources: time and money. The weekly session’s alleviates the fear of the unknown leveraging Red Shoe’s knowledge in revenue generation, return on investments, and next steps to optimize resource spend.
Red Shoe continues a relationship with CC as they expanded up to three years as they grew. Red Shoe also helps build next generation stages of expansion as growth continues.
First phase is startup. Second phase is growth with onboarding employees and a new building. The third phase is supporting new staff in sales goals.
The Results
With Red Shoe’s guidance, CC was able to optimize investment funding into growth and supporting four new positions as well as slated to hire two more positions. One of the organizations goals is to create jobs and build community investment for future sustainability.
Created visibility with brand by creating a meaningful tag line and setting guidelines on whom their best client is for referral. People in the community know the agency, its agents, and their love for people and the community they serve.
Financial goals set time and time again CC blew them out of the water. With CC’s legacy in setting industry records in sales this is no surprise. CC’s agency within the first 12 months was awarded top agency and in this time has continued to be awarded as top agency with a few of their insurance carrier lines. With CC’s tenacious nature and has created a Million Dollar agency.
