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Behavioral Intelligence

Managing Advisor Turnover

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Does your firm face the standard insurance industry problem that only 10 to 15% of the advisors and agents who start in the business are still with them after 5 years? Then, of those who stay after 5 years, how many are strongly committed to your firm? Or, are they producing at the desired rate?

Meeting this challenge starts with improving how the home office uniquely manages each advisor in the field. Then, it is about helping the field force be more successful in engaging their clients (policy holders).

In recent times, we have been helping some of the world’s leading insurance firms significantly boost the levels of field force engagement, thereby leading to more profitable business relationships. Our approach has been to help these insurance firms embrace behavioral marketing and talent segmentation strategies based on validated behavioral science insights. These strategies start by discovering the unique communication and learning style of each person in their field force enabling the firm can more deeply connect with them and provide greater sales assistance.

Being specific, by segmenting each person into one of 4 primary communication styles we have helped these leading insurance firms to:

1.  Create customized marketing plans which re-frame the key messages for each advisor in the field force

2.  Provide tailored sales programs and presentations for each advisor based on their style so that they can then adapt to the style of each prospect and customer

3.  Match the talents and communication style of each advisor to their ideal clients to improve the chances of deeper levels of connection with less energy

4.  Align advisors to the types of insurance product solutions that they would optimally sell based on their specific behavioral talents

5.  Help advisors to form teams with other advisors who have different talents so that they can capitalize on more opportunities as a collective unit

6.  Build online communities for advisors and clients to meet, and be continuously educated

7.  Develop hiring and retention metrics to ensure that the best talent is retained and resourced for success

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