Building a career in insurance, while very lucrative, is not without its stumbles along the way. Owning and operating an insurance agency presents a unique set of challenges as well. There is a lot to learn about coverage, processes, agency operations, and professional development. While mistakes are not ideal, expecting perfection from the onset is a recipe for disappointment.
Mastering all these different facets of your career is an evolving process. Here are a few tips that will be most beneficial as you move through these obstacles.
Recognize your Limitations
There is no fast track to becoming an expert in the insurance industry. It takes time and experience. Jumping to conclusions and making assumptions about coverages and processes are dangerous things to do. They can cause you to unintentionally do unethical things or make an inaccurate statement that jeopardizes client coverage and agency relationships with clients and carriers.
Instead, recognizing that building a career you want in the insurance industry is an ongoing process. It is not perfect but going about it the right way creates a path to long-term success and allows you to become the trusted advisor your clients want to work with.
Seek the advice of those with experience
If there is one thing that the insurance industry has an abundance of, it is a wealth of knowledge and experience of those around you. You will find a wide range of years of experience in any agency, running from those just starting to agents with careers spanning 30 or more years. These industry veterans are incredible resources for you to utilize for any number of topics.
So whether someone in your agency has been in insurance five years or 30 years longer than you, recognize the valuable insight they have to offer. When questions arise, go to them for advice. While some of them may not be up to date on the latest insurance technology and may have “old school” ways of doing things, they have likely made mistakes and can help you avoid the same pitfalls in your career.
Own Your Mistakes
While mistakes can feel embarrassing, they are certainly not the end of the world or your career. It is essential to get comfortable owning your mistakes.
Rather than beating yourself up, remember this:
- – The cover-up is always worse than the crime. Attempting to sweep a problem under the rug will typically make things worse. It can mean the agency reputation is at risk, the management system is inaccurate, or a client gets left without something they need.
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- – Owning mistakes shows maturity and responsibility. While admitting to a mistake can be intimidating, especially when you are just starting, it demonstrates your integrity to your supervisor and shows that you are serious about your role. All of these things are good for your growth and your ongoing success in the agency.
- – Owning mistakes shows maturity and responsibility. While admitting to a mistake can be intimidating, especially when you are just starting, it demonstrates your integrity to your supervisor and shows that you are serious about your role. All of these things are good for your growth and your ongoing success in the agency.
- – Mistakes are valuable learning opportunities. While it may feel like a failure at the moment, failure only occurs when you refuse to learn and grow from your errors. As mentioned before, perfection is not an option. However, continuous learning and improvement are within reach every day. If you’re willing to look at your mistakes, troubleshoot a solution, and remember how to handle situations in the future better, you can make lemonade out of lemons!
– Building a successful, long-term career in the insurance industry requires a lot of commitment and determination. Using these tips, you can embrace the right mindset for ongoing success.
For more on this topic, check out the full episode of The Independent Agent here.
About the Author
Justin Goodman has spent the past 20 years in insurance. He is the co-founder and CEO of Total CSR and co-founder and Managing Director of Project 55. By the age of 29, he was recognized as one of the top five construction insurance experts nationwide by Risk and Insurance Magazine. He also was named to Insurance Business Magazine’s Hot 100 and most recently the 2024 Insurance Journal Agent of the Year.
Justin has trained over 50,000 CSR’s, account managers and producers through his work at Total CSR. He has a passion for developing the next generation of insurance professionals. When not with his family, he devotes his free time to speaking engagements and advising agency owners across the country.
