One of our greatest fears is being judged by others, especially by our peers. For whatever reason, too many of us worry way too much about what others think. As a result, we avoid making decisions or moving in directions that don't fit societal expectations.

But, isn't it ironic how much we admire someone who finds the courage to break those ties that bind; someone who doesn't care what others think; someone who does whatever they do because they believe it's the right thing to do?!

If you are an insurance broker, now is the time for you to get over the fear of being judged for doing something new or different. Your clients need you to find the courage, and the survival of your business likely depends on you finding that courage.

As insurance brokers, we have been brainwashed into a narrow business model based on what the industry tells us we're suppose be. At the risk of offending our insurance carrier "partners", I believe it's the carriers who have done the brainwashing to protect their own model.

Think about it. Contrary to the story we like to tell, the typical agency business model serves the needs of the insurance companies, not your actual clients. Don't believe me? Think of your own book of business. If you could no longer do the following, how long would you stay in business?

    1. Quote insurance products
    2. Help fix the inevitable problems associated with the insurance product

Who benefits most from these two cornerstones of the typical agency model? The insurance carriers! You're selling their product and doing much of their service work.

Maybe not directly, but through their compensation models, the carriers tell you what your business model is supposed to be. Which is why every website sounds the same: click here for a free quote; here's a list of the carriers we represent; we provide better service than anyone else.

Let's be honest, in the typical scenario, you're not really running your own business model; you are an extension of the carrier's model.

This has to end and it has to end for several reasons.

  1. The carriers do not care about you. To be fair, it's not their job to take care of you.
  2. Every viable business must have a viable model based on providing value to their clients (not their suppliers).
  3. And, most importantly, today's business owners (your clients) need help in ways they never have before (this spells opportunity for you).

It's time to let go of what the industry tells you you're supposed to be and find the courage to become what you want to be, what your clients need you to be. Instead of feeling judged for making changes to your business model, it should be the agency owners who are not changing their models that should be feeling judged and insecure.


Photo by BDS