OAA's Blog

Insights on entrepreneurship and strategy for the insurance industry.

Grow your insurance agency profits for free


1 minute read

One idea that can really help you grow income in your insurance agency, despite how many clients you have, and despite how many new pieces of business you're writing, is to focus on making more money with your insurance companies on the customers you already have.

How do you do that? Simple: focus your business on your best companies.

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If you have some companies that pay you higher commissions, and have better profit-sharing agreements than others, move your business there. If you're writing any business with a broker that belongs to one of our companies, that's low-hanging fruit. If you've got business with a carrier that perhaps you don't have a lot of business with, and because of that you're not hitting their top commission tiers, move that business into one of your biggest companies. That's another piece of low-hanging fruit, and it's a way in which you may increase the revenue on the policies written with those companies, as much as 20 or 30%.

If you'd like more great ideas about how to improve your agency's operations, I invite you to download my new ebook: COVID-19 Silver Linings for Independent Insurance Agencies.