How to Grow Your Insurance Agency by 300%

Colin has had over 300% growth in his insurance agency. In his interview, he gives several golden nuggets on what it takes to experience massive growth in your business.

When Colin partnered with Compass, he was already an established and successful agent. He got his license in 2008 and partnered with Compass 10 years later in 2018.

Prior to meeting with Compass, he had a decent personal book of business and had transitioned from an independent agent to an agency owner. He had several downline agents and staff members.

In the last few years, his business has exploded by choosing the right technology, offering the right products, and focusing on building relationships rather than transactions.

Choose the Right Technology

Having the right tools and technology is critical for building a scalable insurance agency. After hearing about Compass's custom software and systems, it immediately clicked for Colin.

"One of the hardest things for me and being an agency owner is training other people. If the software really is as good as you say it is, it's going to make my life way easier. It will make my job way easier with training my current agents as well as recruiting new agents."

Compass's software isn't just a technology solution - it's a repeatable system and process that allows agents to cross-sell at an extremely high level.

To learn more about our technology solutions check out THIS page.

Work with the Right Partners

One thing that really allowed Utah Avenue to grow is the products in Compass's portfolio. Colin thought they had all the carriers they needed. Like most agents, he was happy with the products they were currently offering and didn't think there was anything better out there.

When he came on with Compass, he realized what they were missing. He thought they were doing a good job cross-selling, but Compass took them to a whole new level of cross-selling that they didn't know existed.

Cross-selling is simply offering solutions to your clients and letting them choose how they want to be protected. Increasing the number of products they could help their clients with is one of the biggest reasons their agency has exploded.

By having the right products, agents can be advisory agents rather than transactional agents and truly build custom plans for their client's individual needs.

Focus on Relationships

One of the reasons Utah Avenue and Compass work so well together is that both companies take a similar view on being relationship-driven rather than simply being transactional.

As Colin puts it, "What we do with relationships is so unique compared to a lot of other agencies. A lot of other agencies are very transactional. They want to say "you're an agent, you need to get x many sales and make x amount in commissions." We aren't that way at all, and Compass also understands that philosophy."

If you establish a relationship with your clients, your goals change with how you treat that client. Every time Colin sits down with a new client, he says to himself, "You're going to be my client for the next 10+ years. This is a totally different way of thinking. Now you're thinking about protecting their family and protecting their goals."

Even as his agency has grown, nothing has ever changed in terms of building relationships. Colin has now taken that viewpoint as an agency owner and transitioned that over to my staff and my agents.

Think about that for a minute. Every time I do a new hire, whether that be an agent or a staff member. I think to myself "you are going to be in a relationship with me for 10+ years." Now, I'm not filling a seat to hire somebody, I'm not looking for them to just perform a job.

They're going to be coming in as a family member, and we're going to be building something together. And it just changes how to think about insurance and how you think about your staff."

Colin is a prime example of how to build an agency the right way, and also the culture Compass has built for all of our agents.

Still curious about what other solutions Compass offers agency owners? Check out THIS page for full details.